CFCM EXAM PRACTICE TEST 2024/COMPLETE 160 QUESTIONS AND CORRECT DETAILED ANSWERS CFCM Exam.

CFCM EXAM PRACTICE TEST 2024/COMPLETE 160 QUESTIONS AND CORRECT DETAILED ANSWERS CFCM Exam. By _____________ contracts are characterized by the employer-employee relationship it creates between the Government and the contractor's personnel. - CORRECT ANSWERS-Personal services A cash fund of fixed amount established by an advance of funds, for disbursement in cash for relatively small amounts is called what? - CORRECT ANSWERS-Imprest fund A contract for demolition of a public building, without any further construction work, is subject to which of the following? - CORRECT ANSWERS-Only the Service Contract Labor Standards statute A contract that is awarded using other than sealed bidding procedures is what? - CORRECT ANSWERS-A negotiated contract 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? - CORRECT ANSWERS-The contractor does not have a place of business in the United States A contractor infringes on a copyright with the authorization of the Government. What remedy is available to the copyright holder? - CORRECT ANSWERS-A suit for monetary damages against the Government in the Court of Federal Claims A contractor receives a refund relating to an allowable cost. What shall the contractor do with the applicable portion of the refund? - CORRECT ANSWERS-The contractor may credit it to the Government either as a cost reduction or a cash refund A contractor transfers its right to be paid by the Government for contract performance to a trust company. What is this called? - CORRECT ANSWERS-Assignment of a claim A contractor under a construction contract provides the Government with a quantity of unit-priced items other than the quantity called for. Can the Government or the contractor demand an adjustment in the contract price? - CORRECT ANSWERS-Yes, if the variation exceeds plus or minus