CFCM Final Exam Questions

CFCM Final Exam Questions What is a Certificate of Competency? - 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? - $35,000 What can a contractor access online at ? - The government wide point of entry Application of size standards includes specifying the size standard in the - solicitation When the value of the contract is $100,000 the agency will be required to use - SAP How is the publication of a paid advertisement in a newspaper authorized? - By the head of the agency, by giving written authorization 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? - Option If a prospective contractor is qualified and eligible to receive an award, but lacks adequate financial resources to perform the contract, can the contractor be determined responsible? - If the contractor presents evidence of the ability to obtain adequate financial resources, the contractor may be determined responsible What are methods for simplified acquisition? - Blanket purchase agreement, Governmentwide commerica lpurchase card, Purchase Order 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? - 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? - Freedom of Information Act Who is responsible for printing, publishing, and distributing the Federal Acquisition Regulation? - The FAR Secretariat, as authorized by GSA Which FAR Part prescribes policies and procedures unique to the acquisition of commercial items? - FAR Part 12 Which of the following is necessarily true about a cost that is assignable or chargeable to one or most cost objectives on the basis of relative benefits received or other equitable relationship? - The cost is allocable 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? - The mineral may be acquired from a foreign source if it is in the best interest of the Government 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? - A tradeoff process The obtaining of opinions, special knowledge, or skills from noted experts would be included in what kind of service? - Advisory and assistance service Who is authorized to execute contract modifications on behalf of the Government? - Only a contracting officer acting within the scope of his or her authority Which FAR part prescribes policies and procedures for contracting for supplies and services under the Federal Supply Schedule program? - Part 38 If hazardous materials are expected