CFCM Exam Practice Test correctly
answered to pass
What is a Certificate of Competency - correct answer ✔✔A certificate issued by
the SBA stating that the holder is responsible for the purpose of receiving and
performing a specific Government contract
Except as specifically permitted by executive agencies, the fast payment
procedure may not be used for individual purchasing instruments exceeding what
amount? - correct answer ✔✔$35,000
What can a contractor access online at www.fedbizopps.gov? - correct answer
✔✔The government wide point of entry
Size Standards - correct answer ✔✔FAR 19.102(b)(3): "(Small business size
standards are applied by) Specifying the size standard in the solicitation so that
offerors can appropriately represent themselves as small or large"
When may an agency be required to use simplified acquisition procedures? -
correct answer ✔✔When the value of the contract is $100,000
How is the publication of a paid advertisement in a newspaper authorized? -
correct answer ✔✔FAR 5.502 "Authority to approve the publication of paid
advertisements in the newspaper is vested in the head of each agency. This
approval authority may be delegated" Must be a written authorization from the
head of the agency.
,The unilateral right in a contract by which the government may elect to purchase
additional supplies or services called for by the contract is called what? - correct
answer ✔✔Option
If a prospective contractor is qualified and eligible to receive award, but lacks
adequate financial resources to perform the contract, can the contractor be
determined responsible? - correct answer ✔✔If the contractor presents evidence
of the ability to obtain adequate financial resources, the contractor may be
determined responsible.
This is not a method for simplified acquisition - correct answer ✔✔Advanced
Agreement
For a contract exceeding the simplified acquisition threshold, an offeror (other
than an individual) that does not agree to provide a drug-free workplace is what? -
correct answer ✔✔Not considered a responsible source
What law specifies how agencies shall make their records available upon public
request, imposes strict time standards for agency responses, and exempts certain
records from public disclosure - correct answer ✔✔Freedom of Information Act
Who is responsible for printing, publishing, and distributing the Federal
Acquisition Regulation? - correct answer ✔✔The FAR Secretariat, as authorized by
GSA
, Which FAR part prescribes policies and procedures unique to the acquisition of
commercial items? - correct answer ✔✔FAR Part 12
Which of the following is necessarily rue about a cost that is assignable or
chargeable to one of the most cost objectives on the basis of relative benefits
received or other equitable relationship? - correct answer ✔✔The cost is allocable
A defense subcontractor provides a gift of vehicles to a prime contractor, and in
return the prime contractor awards the subcontractor a valuable military
subcontract. What will happen next? - correct answer ✔✔The prime contractor
and the subcontractor are subject to civil and criminal penalties
A mineral required for production in performance of a contract is not mined in the
United States, but can be acquired from another country. How does the Buy
American statute apply in this case? - correct answer ✔✔The mineral can be
acquired from a foreign source if it is in the best interest of the Government.
Which contract types allow for disallowing costs during the course of
performance, after the costa have been incurred? - correct answer ✔✔Cost
reimbursement contracts, the cost-reimbursement portion of fixed-price
contracts, letter contracts that provide for reimbursement of costs, and time and
material and labor-hour contracts provide for disallowing costs during the course
of performance after the costs have been incurred.
When it is in the best interest of the Government to consider award to other than
the highest technically rated offeror, which of the following should the
Government use to select the source? - correct answer ✔✔A tradeoff process
answered to pass
What is a Certificate of Competency - correct answer ✔✔A certificate issued by
the SBA stating that the holder is responsible for the purpose of receiving and
performing a specific Government contract
Except as specifically permitted by executive agencies, the fast payment
procedure may not be used for individual purchasing instruments exceeding what
amount? - correct answer ✔✔$35,000
What can a contractor access online at www.fedbizopps.gov? - correct answer
✔✔The government wide point of entry
Size Standards - correct answer ✔✔FAR 19.102(b)(3): "(Small business size
standards are applied by) Specifying the size standard in the solicitation so that
offerors can appropriately represent themselves as small or large"
When may an agency be required to use simplified acquisition procedures? -
correct answer ✔✔When the value of the contract is $100,000
How is the publication of a paid advertisement in a newspaper authorized? -
correct answer ✔✔FAR 5.502 "Authority to approve the publication of paid
advertisements in the newspaper is vested in the head of each agency. This
approval authority may be delegated" Must be a written authorization from the
head of the agency.
,The unilateral right in a contract by which the government may elect to purchase
additional supplies or services called for by the contract is called what? - correct
answer ✔✔Option
If a prospective contractor is qualified and eligible to receive award, but lacks
adequate financial resources to perform the contract, can the contractor be
determined responsible? - correct answer ✔✔If the contractor presents evidence
of the ability to obtain adequate financial resources, the contractor may be
determined responsible.
This is not a method for simplified acquisition - correct answer ✔✔Advanced
Agreement
For a contract exceeding the simplified acquisition threshold, an offeror (other
than an individual) that does not agree to provide a drug-free workplace is what? -
correct answer ✔✔Not considered a responsible source
What law specifies how agencies shall make their records available upon public
request, imposes strict time standards for agency responses, and exempts certain
records from public disclosure - correct answer ✔✔Freedom of Information Act
Who is responsible for printing, publishing, and distributing the Federal
Acquisition Regulation? - correct answer ✔✔The FAR Secretariat, as authorized by
GSA
, Which FAR part prescribes policies and procedures unique to the acquisition of
commercial items? - correct answer ✔✔FAR Part 12
Which of the following is necessarily rue about a cost that is assignable or
chargeable to one of the most cost objectives on the basis of relative benefits
received or other equitable relationship? - correct answer ✔✔The cost is allocable
A defense subcontractor provides a gift of vehicles to a prime contractor, and in
return the prime contractor awards the subcontractor a valuable military
subcontract. What will happen next? - correct answer ✔✔The prime contractor
and the subcontractor are subject to civil and criminal penalties
A mineral required for production in performance of a contract is not mined in the
United States, but can be acquired from another country. How does the Buy
American statute apply in this case? - correct answer ✔✔The mineral can be
acquired from a foreign source if it is in the best interest of the Government.
Which contract types allow for disallowing costs during the course of
performance, after the costa have been incurred? - correct answer ✔✔Cost
reimbursement contracts, the cost-reimbursement portion of fixed-price
contracts, letter contracts that provide for reimbursement of costs, and time and
material and labor-hour contracts provide for disallowing costs during the course
of performance after the costs have been incurred.
When it is in the best interest of the Government to consider award to other than
the highest technically rated offeror, which of the following should the
Government use to select the source? - correct answer ✔✔A tradeoff process
