CFCM Practice Test Questions and Answers Latest Updated 2024/2025 (Solved)

CFCM Practice Test Questions and Answers Graded A+ - Latest Updated 2024/2025 (Solved) How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? - answerEvery 5 years A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actionsi s defined as a - answer-determination and findings Contracting officers below the level of ___ shall be selected and appointed - answer-a head of a contracting activity According to the FAR conventions at Subpart 1.1, each authority is delegable unless - answer-specifically stated otherwise When an imperative sentence directs action in the FAR, who is responsible for the action unless another party is expressly cited? - answer-the CO CFCM Practice Test Questions and Answers Graded A+ - Latest Updated 2024/2025 (Solved) Unauthorized commitments are agreements that are NOT binding solely because - answer-the government representative who made the agreement lacked the authority to enter into it The simplified acquisition threshold for any contract in support of contingency operations to be awarded and performed, or purchase to be made, outside of the united states is - answer-1 million Commercial Item - answer-A non developmental item, if the procuring agency determines the item was developed exclusively at private expense and sold in substantial quantities, on a competitive basis, to multiple state and local governments Consolidating 2 or more requirements for supplies or services, previosuly provided or performed under seperate smaller contracts, into a solicitation for a single contract that is likely to be unsuitable for award to a small business concern is defined as - answerbundling Which of the following are included in the definitions of "contracts" - answer-letter contracts and job orders The government can minimize the opportunity for buying in by using which of the following techniques - answer-multiyear contracting, priced options, and amortization of nonrecurring costs A contractor's arrangements to pay contingent fees for soliciting government contracts have long been considered contrary to public policy because - answerthey may lead to exercise of improper influence ____ is any money, fee, commission, credit, gift, gratuity, thing of value, or compensation of any kind which is provided directly or indirectly, to any prime contractor, prime contractor employee, subcontractor, or subcontractor employee for the purpose of improperly obtaining or rewarding favorable treatment in connection with a prime contractor in connection with a subcontract relating to a prime contract - answer-Kickback A contract with a corporation shall be signed by - answer-in the corporate name, followed by the word "by" and the signature and title of the person authorized to sign Contractors must retain all records pertaining to a government contract for a minimum or __ years - answer-3 years from the date of final payment, unless otherwise specified Contractor representations and certifications - answerare submitted through the System for Award Management Agencies must implement OMB guidance for personal identity verification when - answer-contractors have routine physical access to either a federally controlled facility or information system. Dollar threshold for public announcement of contract awards - answer-$4,000,000 Acceptable methods for disseminating information on proposed contract actions include - answerannouncements in magazines at no cost, assisting a local trade association in disseminating information to their members, and synopsis in the government wide point of entry What is the minimum response time for receipt of bids or proposals for noncommercial item solicitations - answer-30 days from the date of publication of a proper notice of intent to contract The contracting officer's certification can serve as approval of the justification for other than full and open competition for a proposed contract NOT exceeding - answer-$700,000 FAR Part 6, "Competition Requirements," applies to which of the following? - answer-A $1M contract for services The contracting officer may use competitive proposals in lieu of sealed bids if - answer-it is necessary to conduct discussions If other than full and open competition is anticipated, the acquisition plan must be coordinated with the cognizant - answer-competition advocate Acquisition planning should begin - answer-as soon as the agency need is identified The specific content of acquisition plans will vary, and are influenced primarily by which factors - answer-the nature, circumstances, and stage of the acquired Market research may indicate that bundling is necessary and justified if - answer-the gov would derive mesurably substantial benefits The Federal Supply Schedule program provides federal agencies with a simplified process for obtaining commonly used commercial supplies and services at prices associated with volume buying. It is directed and managed by the - answer-GSA