CFCM STUDY EXAM SECTION #1
QUESTIONS AND ANSWERS
What is the primary document of the Federal Acquisition Regulation System? (FAR 1.1)
- Answer-FAR, the Federal Acquisition Regulation
Best Value (FAR 2.1): - Answer-The expected outcome of an acquisition that, in the
government's estimation, provides the greatest overall benefit in response to the
requirement.
Claim (FAR 2.1): - Answer-A written demand or written assertion by one of the
contracting parties seeking the payment of money in a sum certain, the adjustment or
interpretation of contract terms, or other relief arising under or relating to the contract.
Contracting (FAR 2.1): - Answer-Purchasing, renting, leasing, or otherwise obtaining
supplies or services from nonfeeral sources
Contract (FAR 2.1) - Answer-A mutually binding legal relationship obligating the seller to
furnish supplies or services (including construction) and the buyer to pay for them.
What is Kickback means? (FAR 3.502-1) - Answer-Any money, fee, commission, credit,
gift, gratuity, thing of value, or compensation of any kind that 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 contract or in connecion with a subcontract relating
to a prime contract.
Federal Procurement Data System (FAR 4.602) provides: - Answer-A comprehensive
Web-based tool for assembling, organizing, and presenting contract placement data for
the federal government.
As a General Rule (FAR 3.1) - Answer-Strictly aviod any conflict of interest or even the
appearance of a conflict of interest in government-contractor relationships.
Contracting officers are to be appointed in... (FAR 1.6) - Answer-writing on a SF 1402,
Certificate of Appointment, which must state any limitations on the scope of authority to
be exercised, other than limitations contained in applicable law or regulation.
The Federal Acquisition Regulations system was established for the codification and
publication of uniform policies and procedures for acquisition actives performed by:
(FAR 1.1) - Answer-Executive Agencies
COR means? (FAR 2.1) - Answer-Contracting Officer's representative
QUESTIONS AND ANSWERS
What is the primary document of the Federal Acquisition Regulation System? (FAR 1.1)
- Answer-FAR, the Federal Acquisition Regulation
Best Value (FAR 2.1): - Answer-The expected outcome of an acquisition that, in the
government's estimation, provides the greatest overall benefit in response to the
requirement.
Claim (FAR 2.1): - Answer-A written demand or written assertion by one of the
contracting parties seeking the payment of money in a sum certain, the adjustment or
interpretation of contract terms, or other relief arising under or relating to the contract.
Contracting (FAR 2.1): - Answer-Purchasing, renting, leasing, or otherwise obtaining
supplies or services from nonfeeral sources
Contract (FAR 2.1) - Answer-A mutually binding legal relationship obligating the seller to
furnish supplies or services (including construction) and the buyer to pay for them.
What is Kickback means? (FAR 3.502-1) - Answer-Any money, fee, commission, credit,
gift, gratuity, thing of value, or compensation of any kind that 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 contract or in connecion with a subcontract relating
to a prime contract.
Federal Procurement Data System (FAR 4.602) provides: - Answer-A comprehensive
Web-based tool for assembling, organizing, and presenting contract placement data for
the federal government.
As a General Rule (FAR 3.1) - Answer-Strictly aviod any conflict of interest or even the
appearance of a conflict of interest in government-contractor relationships.
Contracting officers are to be appointed in... (FAR 1.6) - Answer-writing on a SF 1402,
Certificate of Appointment, which must state any limitations on the scope of authority to
be exercised, other than limitations contained in applicable law or regulation.
The Federal Acquisition Regulations system was established for the codification and
publication of uniform policies and procedures for acquisition actives performed by:
(FAR 1.1) - Answer-Executive Agencies
COR means? (FAR 2.1) - Answer-Contracting Officer's representative
