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CFCM STUDY GUIDE: FULL TEST LATEST
QUESTIONS WITH ACTUAL ANSWERS 100%
CORRECT!
Which of the following statements is NOT true?
a. The government encourages the maximum practicable
commercial use of inventions made under government
contracts.
b. The government recognizes rights in data developed
at private expense, and limits its demands for delivery
of that data.
c. The government requires that contractors obtain
permission from copyright owners before including
copyrighted works, owned by others, in data to be
delivered to the government.
d. Generally, the government will refuse to award a
contract on the grounds that the prospective contractor
may infringe a patent. - ....ANSWER ....✔✔ d.
Generally, the government will refuse to award a
contract on the grounds that the prospective contractor
may infringe a patent.
FAR 27.102
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Performance and payment bonds are required or may
be required for
a. construction contracts and services and supply
contracts exceeding $2,000.
b. construction contracts exceeding $150,000.
c. any contract for services,
d. construction contracts exceeding $150,000 and
services and supply contracts exceeding the SAT when
necessary to protect the governments interests. -
....ANSWER ....✔✔ d. construction contracts exceeding
$150,000 and services and supply contracts exceeding
the SAT when necessary to protect the governments
interests.
FAR 28.102-1(a), 28.103-1(a), 28.103-2(a)
Cost Accounting Standards Board rules and regulations
apply to
a. negotiated contracts and subcontracts.
b. sealed bid contracts.
c. contracts with small business concerns.
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d. bridge contracts. - ....ANSWER ....✔✔ a.
negotiated contracts and subcontracts.
FAR 30.000
The head of the agency may waive the applicability of
Cost Accounting Standards (CAS) for a particular
contract or subcontract when one of these conditions
exists:
a. The contract or subcontract is less than $50 million,
primarily engaged in the sale of commercial items, and
has no contracts/subcontracts subject to CAS.
b. The contract or subcontract is less than $15 million,
primarily engaged in the sale of commercial items, and
has no contracts/subcontracts subject to CAS.
c. The contract or subcontract is less than $7.5 million,
primarily engaged in the sale of commercial items.
d. The contract or subcontract is less than $5 million,
primarily engaged in the sale of commercial items, and
has no contracts/subcontracts subject to CAS. -
....ANSWER ....✔✔ b. The contract or subcontract is
less than $15 million, primarily engaged in the sale of
commercial items, and has no contracts/subcontracts
subject to CAS.
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FAR 30.201-5
Which of the following statements about advance
agreements is NOT true?
a. Advance agreements may only be negotiated with a
particular contractor for a single contract.
b. Advance agreements may be negotiated either
before or during a contract.
c. The agreement must be in writing.
d. The agreements must be incorporated into applicable
current and future contracts. - ....ANSWER ....✔✔ a.
Advance agreements may only be negotiated with a
particular contractor for a single contract.
FAR 31.109
A cost is reasonable if, in its nature and amount, it does
not exceed that which would be
a. incurred by a prudent person in the conduct of
competitive business.
CFCM STUDY GUIDE: FULL TEST LATEST
QUESTIONS WITH ACTUAL ANSWERS 100%
CORRECT!
Which of the following statements is NOT true?
a. The government encourages the maximum practicable
commercial use of inventions made under government
contracts.
b. The government recognizes rights in data developed
at private expense, and limits its demands for delivery
of that data.
c. The government requires that contractors obtain
permission from copyright owners before including
copyrighted works, owned by others, in data to be
delivered to the government.
d. Generally, the government will refuse to award a
contract on the grounds that the prospective contractor
may infringe a patent. - ....ANSWER ....✔✔ d.
Generally, the government will refuse to award a
contract on the grounds that the prospective contractor
may infringe a patent.
FAR 27.102
,2|Page
Performance and payment bonds are required or may
be required for
a. construction contracts and services and supply
contracts exceeding $2,000.
b. construction contracts exceeding $150,000.
c. any contract for services,
d. construction contracts exceeding $150,000 and
services and supply contracts exceeding the SAT when
necessary to protect the governments interests. -
....ANSWER ....✔✔ d. construction contracts exceeding
$150,000 and services and supply contracts exceeding
the SAT when necessary to protect the governments
interests.
FAR 28.102-1(a), 28.103-1(a), 28.103-2(a)
Cost Accounting Standards Board rules and regulations
apply to
a. negotiated contracts and subcontracts.
b. sealed bid contracts.
c. contracts with small business concerns.
,3|Page
d. bridge contracts. - ....ANSWER ....✔✔ a.
negotiated contracts and subcontracts.
FAR 30.000
The head of the agency may waive the applicability of
Cost Accounting Standards (CAS) for a particular
contract or subcontract when one of these conditions
exists:
a. The contract or subcontract is less than $50 million,
primarily engaged in the sale of commercial items, and
has no contracts/subcontracts subject to CAS.
b. The contract or subcontract is less than $15 million,
primarily engaged in the sale of commercial items, and
has no contracts/subcontracts subject to CAS.
c. The contract or subcontract is less than $7.5 million,
primarily engaged in the sale of commercial items.
d. The contract or subcontract is less than $5 million,
primarily engaged in the sale of commercial items, and
has no contracts/subcontracts subject to CAS. -
....ANSWER ....✔✔ b. The contract or subcontract is
less than $15 million, primarily engaged in the sale of
commercial items, and has no contracts/subcontracts
subject to CAS.
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FAR 30.201-5
Which of the following statements about advance
agreements is NOT true?
a. Advance agreements may only be negotiated with a
particular contractor for a single contract.
b. Advance agreements may be negotiated either
before or during a contract.
c. The agreement must be in writing.
d. The agreements must be incorporated into applicable
current and future contracts. - ....ANSWER ....✔✔ a.
Advance agreements may only be negotiated with a
particular contractor for a single contract.
FAR 31.109
A cost is reasonable if, in its nature and amount, it does
not exceed that which would be
a. incurred by a prudent person in the conduct of
competitive business.
