A+ Graded Paper
CFCM Final Exam 2025 | 100% Verified Questions
& Correct Answers (Graded A+)
Questions and Mark scheme
Version: Final 1.1
, Contracting activities shall employ simplified acquisition procedures to the maximum extent practicable for acquisitions
of commercial items not exceeding - ✔✔$7M
Unless otherwise provided, agencies shall use which of the following contract type for the acquisition of commercial
items - ✔✔Firm-Fixed-Price or Fixed-Price with economic price adjustment contracts
Cost Accounting Standards - ✔✔do not apply to contacts and subcontracts for commercial acquisition unless the
contract provides for an economic price adjustment based on actual cost incurred
When acquiring commercial items, the contracting officer - ✔✔must establish price reasonableness in accordance with
FAR 13.106-3, 14.408-2, or Subpart 15.4, as applicable
A system whereby the contracting officer receives authorization from a fiscal and accounting officer to obligate funds
purchased documents against a specified lump sum of funds reserved for a specified time rather than obtaining
individual obligation authority on each purchase document is - ✔✔bulk funding
When considering a simplified acquisition, which database should contracting officers use as their primary source of
vendor information? - ✔✔System for Award Management, SAM
When using the governmentwide commercial purchase card as a method of payment, COs need to verify a contractor's
delinquent debt status in SAM database when those purchases are - ✔✔above the micro puchase threshold
A CO's decision not to set aside an acquisition for a HUBZONE small business or SDVOSB concerns when it is at or below
the simplified acquisition threshold - ✔✔is not subject to review under FAR 19.4
Micro-purchases may be awarded without soliciting competitive quotes if - ✔✔the CO determines that the price is
reasonable
A cash fund of a fixed amount established by an advance of funds, without charge to an appropriate, from an agency
finance or disbursing officer to a duly appointed cashier for disbursement as needed from time to time in making a
payment in case for relatively small purchases is an - ✔✔impreset fund
Impresent funds may be used for transactions up to - ✔✔$500
CFCM Final Exam 2025 | 100% Verified Questions
& Correct Answers (Graded A+)
Questions and Mark scheme
Version: Final 1.1
, Contracting activities shall employ simplified acquisition procedures to the maximum extent practicable for acquisitions
of commercial items not exceeding - ✔✔$7M
Unless otherwise provided, agencies shall use which of the following contract type for the acquisition of commercial
items - ✔✔Firm-Fixed-Price or Fixed-Price with economic price adjustment contracts
Cost Accounting Standards - ✔✔do not apply to contacts and subcontracts for commercial acquisition unless the
contract provides for an economic price adjustment based on actual cost incurred
When acquiring commercial items, the contracting officer - ✔✔must establish price reasonableness in accordance with
FAR 13.106-3, 14.408-2, or Subpart 15.4, as applicable
A system whereby the contracting officer receives authorization from a fiscal and accounting officer to obligate funds
purchased documents against a specified lump sum of funds reserved for a specified time rather than obtaining
individual obligation authority on each purchase document is - ✔✔bulk funding
When considering a simplified acquisition, which database should contracting officers use as their primary source of
vendor information? - ✔✔System for Award Management, SAM
When using the governmentwide commercial purchase card as a method of payment, COs need to verify a contractor's
delinquent debt status in SAM database when those purchases are - ✔✔above the micro puchase threshold
A CO's decision not to set aside an acquisition for a HUBZONE small business or SDVOSB concerns when it is at or below
the simplified acquisition threshold - ✔✔is not subject to review under FAR 19.4
Micro-purchases may be awarded without soliciting competitive quotes if - ✔✔the CO determines that the price is
reasonable
A cash fund of a fixed amount established by an advance of funds, without charge to an appropriate, from an agency
finance or disbursing officer to a duly appointed cashier for disbursement as needed from time to time in making a
payment in case for relatively small purchases is an - ✔✔impreset fund
Impresent funds may be used for transactions up to - ✔✔$500
