HOSMERIT
CFCM TEST PREP | QUESTIONS WITH 100%
CORRECT ANSWERS | UPDATED 2024 |
GUARANTEED A+
How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation?
a. Annually
b. Bi-annually
c. Every five years
d. Only as required - ✔✔(c) Every five years
(FAR 1.109)
A form of written approval signed by an authorized official that is required by statute or
regulation as a prerequisite to taking certain contract actions is defined as:
a. A ratification
b. Determination and Findings
c. The Contracting Officer's Final Decision
d. A waiver - ✔✔(b) Determination and Findings
,(FAR 1.701)
Contracting officers below the level of shall be selected and appointed.
a. Cabinet secretary
b. Director of contracting
c. A flag officer or member of the Senior Executive Service
d. A head of contracting activity - ✔✔(d) A head of contracting activity
(FAR 1.601)
The simplified acquisition threshold for any contract in support of contingency operations to be
awarded an performed, or purchase to be made, outside the U.S. is:
(a) $150,000
(b) $300,000
c. $1 million
d. $1.5 million - ✔✔(c) $1 million
(FAR 2.101)
,Which of the following is a commercial item?
a. A nondevelopmental item, if the procuring agency determines the item was developed
exclusively at private expense and sold in substantial quantities, on a competitive basis, to
multiple state and local governments
b. An item that evolved from an item that has not been sold to the general public
c. A commercial item that has received modfications not available in the commercial
marketplace
d. A nondevelopment item used exclusively for governmental purposes - ✔✔(a) A
nondevelopmental item, if the procuring agency determines the item was developed exclusively
at private expense and sold in substantial quantities, on a competitive basis, to multiple state
and local governments
(FAR 2.101)
Consolidating two or more requirements for supplies or services, previously provided or
performed under separate smaller contracts, into a solicitation for a single contract is defined as:
a. Combining
b. Consolidating
c. Bundling
d. Mixing - ✔✔(c) Bundling
, (FAR 2.101)
Which of the following are included in the definition of "contracts?"
a. Awards and notices of awards and grants
b. Letter contracts and cooperative agreements
c. Letter contracts and job orders issued under basic ordering agreements
d. Blanket purchase agreements and imprest funds - ✔✔(c) Letter contracts and job orders
issued under basic ordering agreements
(FAR 2.101)
The government can minimize the opportunity for buying in by using any of the following
techniques:
a. Simplified acquisition procedures
b. Priced options, amortization of nonrecurring costs, and simplified acquisition procedures
c. Simplified acquisition procedures, costs, and multiyear contracting
d. Multiyear contracting, priced options, and amortization of nonrecurring costs - ✔✔(d)
Multiyear contracting, priced options, and amortization of nonrecurring costs
(FAR 3.501-2)
CFCM TEST PREP | QUESTIONS WITH 100%
CORRECT ANSWERS | UPDATED 2024 |
GUARANTEED A+
How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation?
a. Annually
b. Bi-annually
c. Every five years
d. Only as required - ✔✔(c) Every five years
(FAR 1.109)
A form of written approval signed by an authorized official that is required by statute or
regulation as a prerequisite to taking certain contract actions is defined as:
a. A ratification
b. Determination and Findings
c. The Contracting Officer's Final Decision
d. A waiver - ✔✔(b) Determination and Findings
,(FAR 1.701)
Contracting officers below the level of shall be selected and appointed.
a. Cabinet secretary
b. Director of contracting
c. A flag officer or member of the Senior Executive Service
d. A head of contracting activity - ✔✔(d) A head of contracting activity
(FAR 1.601)
The simplified acquisition threshold for any contract in support of contingency operations to be
awarded an performed, or purchase to be made, outside the U.S. is:
(a) $150,000
(b) $300,000
c. $1 million
d. $1.5 million - ✔✔(c) $1 million
(FAR 2.101)
,Which of the following is a commercial item?
a. A nondevelopmental item, if the procuring agency determines the item was developed
exclusively at private expense and sold in substantial quantities, on a competitive basis, to
multiple state and local governments
b. An item that evolved from an item that has not been sold to the general public
c. A commercial item that has received modfications not available in the commercial
marketplace
d. A nondevelopment item used exclusively for governmental purposes - ✔✔(a) A
nondevelopmental item, if the procuring agency determines the item was developed exclusively
at private expense and sold in substantial quantities, on a competitive basis, to multiple state
and local governments
(FAR 2.101)
Consolidating two or more requirements for supplies or services, previously provided or
performed under separate smaller contracts, into a solicitation for a single contract is defined as:
a. Combining
b. Consolidating
c. Bundling
d. Mixing - ✔✔(c) Bundling
, (FAR 2.101)
Which of the following are included in the definition of "contracts?"
a. Awards and notices of awards and grants
b. Letter contracts and cooperative agreements
c. Letter contracts and job orders issued under basic ordering agreements
d. Blanket purchase agreements and imprest funds - ✔✔(c) Letter contracts and job orders
issued under basic ordering agreements
(FAR 2.101)
The government can minimize the opportunity for buying in by using any of the following
techniques:
a. Simplified acquisition procedures
b. Priced options, amortization of nonrecurring costs, and simplified acquisition procedures
c. Simplified acquisition procedures, costs, and multiyear contracting
d. Multiyear contracting, priced options, and amortization of nonrecurring costs - ✔✔(d)
Multiyear contracting, priced options, and amortization of nonrecurring costs
(FAR 3.501-2)
