CFCM Exam Practice Test with answers
What is a Certificate of Competency - CORRECT
ANSWERS ✔✔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 ANSWERS ✔✔$35,000
What can a contractor access online at
www.fedbizopps.gov? - CORRECT ANSWERS ✔✔The
government wide point of entry
Size Standards - CORRECT ANSWERS ✔✔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 ANSWERS ✔✔When
the value of the contract is $100,000
,How is the publication of a paid advertisement in a
newspaper authorized? - CORRECT ANSWERS ✔✔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 ANSWERS ✔✔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 ANSWERS ✔✔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
ANSWERS ✔✔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 ANSWERS ✔✔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 ANSWERS
✔✔Freedom of Information Act
Who is responsible for printing, publishing, and
distributing the Federal Acquisition Regulation? -
CORRECT ANSWERS ✔✔The FAR Secretariat, as
authorized by GSA
Which FAR part prescribes policies and procedures unique
to the acquisition of commercial items? - CORRECT
ANSWERS ✔✔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 ANSWERS
✔✔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 ANSWERS ✔✔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
ANSWERS ✔✔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 ANSWERS ✔✔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
ANSWERS ✔✔A tradeoff process
What is a Certificate of Competency - CORRECT
ANSWERS ✔✔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 ANSWERS ✔✔$35,000
What can a contractor access online at
www.fedbizopps.gov? - CORRECT ANSWERS ✔✔The
government wide point of entry
Size Standards - CORRECT ANSWERS ✔✔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 ANSWERS ✔✔When
the value of the contract is $100,000
,How is the publication of a paid advertisement in a
newspaper authorized? - CORRECT ANSWERS ✔✔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 ANSWERS ✔✔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 ANSWERS ✔✔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
ANSWERS ✔✔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 ANSWERS ✔✔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 ANSWERS
✔✔Freedom of Information Act
Who is responsible for printing, publishing, and
distributing the Federal Acquisition Regulation? -
CORRECT ANSWERS ✔✔The FAR Secretariat, as
authorized by GSA
Which FAR part prescribes policies and procedures unique
to the acquisition of commercial items? - CORRECT
ANSWERS ✔✔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 ANSWERS
✔✔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 ANSWERS ✔✔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
ANSWERS ✔✔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 ANSWERS ✔✔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
ANSWERS ✔✔A tradeoff process
