CFCM Final Exam || Questions & Answers (Graded A+)

CFCM Final Exam || Questions & Answers (Graded A+) CFCM Final Exam || Questions & Answers (Graded A+) 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? - ANSWER - 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? - ANSWER - 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? - ANSWER - A tradeoff process The obtaining of opinions, special knowledge, or skills from noted experts would be included in what kind of service? - ANSWER - Advisory and assistance service Who is authorized to execute contract modifications on behalf of the Government? - ANSWER - 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? - ANSWER - Part 38 If hazardous materials are expected to be used during contract performance, what must the apparent successful offeror do prior to contract award? - ANSWER - Furnish hazardous material data on a Material Safety Data Sheet A failure in estimating, accumulating, or reporting costs to comply with applicable cost accounting standards is called what? - ANSWER - Noncompliance Who is authorized to sign a contract on behalf of the United States? - ANSWER - Only the contracting officer A cash fund of fixed amount established by an advance of funds, for disbursement in cash for relatively small amounts is called what? - ANSWER - Imprest fund The Government's policy is to try to resolve all contractual issues in controversy by what? - ANSWER - Mutual agreement at the contracting officer's level What are examples for justification of emergency acquisitions flexibilities? - ANSWER - The President has issued a major disaster declaration, The acquisition is to facilitate the defense against a nuclear attack against the United States, The acquisition is in support of a contingency operation What is a function that must be delegated to a CAO if the agency has not designated the CO to perform it? - ANSWER - Negotiation of forward pricing rate agreements Which of the following is not an example of information technology? Software development, A computer hard drive, building's digital thermostat, or modem - ANSWER - digital thermostat When shall certified cost or pricing data be obtained?