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FAC PDF: Understanding Facility Agreements & Financial Action Forms

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Get your FAC PDF questions answered. This guide explains Facility Agreements, financial action forms, their key components, and how to properly manage them for your business or personal finances.

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1|Page



FAC-C PROFESSIONAL EXAM PREP QUESTIONS
AND ANSWERS 2025




With respect to the requirements of law, executive
orders, regulations, and all other applicable procedures,
prior to signing a contract, what must a contracting
officer do? - .....ANSWER... ✔✔ a. Document
noncompliance
b. Ensure that each has been met ✅
c. Obtain legal validation that each has been met
d. Ensure that all statutory requirements have been met
and try to ensure all regulations or applicable
procedures have been followed.


Which is NOT a type of contracting officer? -
.....ANSWER... ✔✔ a. Contracting officer
b. Administrative contracting officer
c. Terminating contracting officer
d. Executive contracting officer ✅

,2|Page



How many parts are there in the FAR? - .....ANSWER...
✔✔ 53


The DoD Procurement Instrument Identifier (PIID) is 13
positions long. Position 9 identifies the type of
instrument. If position 9 is a "D," which of the following
types of instruments is representative? - .....ANSWER...
✔✔ a. Indefinite-delivery contracts to include IDIQs
and requirements contracts ✅
b. Invitations for bids (IFBs)
c. Blanket purchase agreements
d. Contracts of all types except indefinite-delivery
contracts


Which FAR part sets forth the basic policies and general
information about the Federal Acquisition Regulations
System? - .....ANSWER... ✔✔ a. FAR part 1 ✅
b. FAR part 2
c. FAR part 52
d. FAR part 53


A contractor failed to deliver a commercial item within
the time specified by the contract. As the Government
CO, you plan to terminate the contract. What type of

,3|Page



termination would you proceed with? - .....ANSWER...
✔✔ Termination for Cause


Which of the following statements best conveys the
convention at FAR 1.108(b), delegation of authority? -
.....ANSWER... ✔✔ a. Authority is not delegable
b. Each authority is delegable down to no lower than
one level above the contracting officer
c. No authority is delegable unless specifically stated
otherwise
d. Each authority is delegable unless specifically stated
otherwise ✅


What is a Procurement Instrument Identifier (PIID)? -
.....ANSWER... ✔✔ a unique number identifying each
solicitation, contract, agreement, or order and related
procurement instrument


Contract Clause - .....ANSWER... ✔✔ a term or
condition used in contracts or in both solicitations and
contracts, and applying after contract award or both
before and after award.

, 4|Page



Which of the following is correct regarding the DFARS
Procedures Guidance and Information (PGI)? -
.....ANSWER... ✔✔ a. The DFARS PGI applies to all
federal agencies
b. The DFARS PGI is a companion resource to the DFARS

c. The DFARS PGI is not numbered similarly to the DFARS
d. The DFARS PGI is only used by DCMA and DCAA


Except when authorized otherwise, what is true about a
government contract? - .....ANSWER... ✔✔ a. It need
not be in writing
b. It must be in writing ✅
c. It must be presented as a "hard copy" on paper
d. It must have oral confirmation


What should Simplified Acquisition Procedures (SAP) do?
- .....ANSWER... ✔✔ promote competition to the
maximum extent practicable


What type(s) of contracts can be awarded when
acquiring commercial items of supply? - .....ANSWER...
✔✔ a. Only firm-fixed priced contracts or fixed-
price contracts with economic price adjustment ✅

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