CFCM Practice Exam

CFCM Practice Exam 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 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 Which of the following is not a required element in a Broad Agency Announcement? - An estimate of the level of effort required **IS** A description of the agency's research interest The criteria by which proposals will be selected The period of time during which proposals will be accepted A contractor has made an invention under a Federal research and development contract. In which of the following cases may the contractor be required to assign title to the invention to the Government? - The contractor does not have a place of business in the United States Which of the following contract types is generally used to acquire construction? - Firm- fixed-price Which FAR part specifies the definitions for words and terms that are to be used unless another FAR part provides a different definition for that part? - Part 2 Which of the following is a true statement about the role of the Acquisition Team? - The procurement policies and procedures that are used by members of the Acquisition Team are outlined in the FAR If market research indicates that commercial or nondevelopmental items might not be available to satisfy agency needs, what shall the agency do? - Reevaluate the need and determine whether the need can be restated to permit commercial or nondevelopmental items to satisfy the agency's need Which of the following is true about acquisitions for which the World Trade Organization Government Procurement Agreement applies? - For research and development work performed under a cost-plus-fixed-fee contract, what is the maximum fee that may be negotiated? - 15 percent of the contract's estimated cost, excluding fee Which of the following does not justify the use of emergency acquisition flexibilities? - The acquisition is to replace Government property that was involved in a crime Correct *DOES* a. The acquisition is in support of a contingency operation c. The acquisition is to facilitate the defense against a nuclear attack against the United States d. The President has issued a major disaster declaration Which of the following is not a function of the General Services Administration? - b. Managing schedule contracting for military items Correct *IS* a. Authorizing other agencies to award schedule contracts c. Management of U.S. Federal property d. Publicizing regulations governing acquisition of real property Which of the following is not an example of information technology? - c. A building's digital thermostat Correct *IS* a. Software development b. A computer hard drive d. A modem Which of the following contract types allows for disallowing costs during the course of performance, after the costs have been incurred? - "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 is consent to subcontract generally required? - When the contractor has an approved purchasing system