CFCM – Questions With Precise Solutions
SF 1449 (std form for acq. of commercial items) Correct Answer - A CO
should use SF 1449 for acquisitions under Simplified Acq. Threshold (SAT)
but it SHALL use this form for acqs. over SAT.
FAR 12.5 provisions of law not applicable to acq. of Commercial Items
(examples below): Correct Answer - Examples are: covenant against
contingent fees (FAR 3.404), minimal response time for offers (FAR 5.203),
drug-free workplace restriction (FAR 23.5). See other details in FAR 12.503,
12.504, & 12.505.
The use of cost-reimbusable contracts is prohibited for the acquisition of
__________. Correct Answer - Commercial Items.
Which type of contracts should be used for the acquisition of commercial
items [FAR 12.207(a) and FAR 12.207(b)(1)]? Correct Answer - FAR
12.207(a): "Except as provided in paragraph (b) of this section, agencies shall
use firm-fixed-price contracts or fixed-price contracts with economic price
adjustment for the acquisition of commercial items." and FAR 12.207(b)(1)
Contracting activities shall employ SAP to the max extent practicable for acq.
of commercial items not exceeding __________________ (FAR 12.203)? Correct
Answer - $7,000,000 ($13 million for acquisitions as described in
13.500(c), including options, contracting activities may use any of the
simplified procedures authorized by subpart 13.5.
CAS do not apply to contracts and subks for commercial acq. unless
_____________________________________________ (FAR 12.214)? Correct Answer -
the contract provides for an economic price adjustment based on actual costs
incurred.
When acquiring commercial items, the CO must estb price reasonableness
IAW _____________________________ (FAR 12.209)? Correct Answer - 13.106-3,
14.408-2, or Subpart 15.4, as applicable.
To the maximum extent practicable, all contracts for the acquisition of
commercial items shall include which clauses [FAR 12.301(a)]? Correct
Answer - Only those required to implement laws (or executive orders)
,applicable to the acq. of commercial items, or those determined to be
consistent with customary commercial practice
What are the prohibitions on obtaining Certified Cost
or Pricing Data? Correct Answer - 1. Acquisitions at or below the SAT.
2. Prices are: (a) based on adequate price competition, (b) set by law or
regulation
3. Commercial items (or modifications to commercial items)
4. When a waiver has been granted.
(NOTE: certified cost & pricing data are different categories than that of cost &
price analysis - the latter doesn't require a formal certification and is based on
a mere business judgement diligence in review by the CO anytime to ascertain
price reasonableness)
Agencies to conduct market research before: Correct Answer - 1.
Developing new reqt. docs for acq.
2. Soliciting offers for acq. w/ est. value in excess of SAT.
3. Soliciting offers for acq. w/ est. value less than SAT, when:
a) adequate info is not available, and
b) circumstances justify its cost, and
c) before soliciting offers for acq. leading to a bundled contract
FAR Part 12 is not an acquisition method Correct Answer - - Only FAR
Parts 13, 14, & 15 constitute acq. methods.
- Part 12 principles used w/ one of the acq. methods to simplify the process
The extent of market research will vary, depending on which factors?
Correct Answer - Such as:
URGENCY
EST. DOLLAR VALUE
COMPLEXITY
PAST EXPERIENCE
Liquidated Damages (FAR 11.5) Correct Answer - This part prescribes
policies & procedures for using liquidated damages clauses in SOLICITATIONS
& CONTRACTS for:
- Supplies
- Services
, - R&D (research & development)
- and Construction
Note: this sub part doesn't apply to LDs for Subk plans or LDs relating to
Contract Work Hrs & Safety Stds Act.
Micro purchase Threshold Correct Answer - Generally $3500
EXCEPTIONS:
1. Construction contracts (Wage Stds): $2,000
2. Service contracts (Service Contract Labor Standards): $2,500.
3. Contingency ops & NBCW recovery inside the US: $20,000
4. Contingency ops & NBCW recovery outside the US: $30,000
Simplified Acquisition Thershold (SAT) - [FAR 13.5] Correct Answer -
Generally $150,000
EXCEPTIONS:
1. $300,000 for contingency Ops inside the US.
2. $1 Million for contingency Ops outside the US
Simplified Acquisition Procedures (SAP) Correct Answer - For the acq. of
certain commercial items (supplies & svcs) in amounts greater than SAT, but
Not exceeding $7M incl options ($13M in contingency ops or nbcr recovery
from attack), SAP can be employed.
A system wehreby the CO receives auth. from a fiscal & accounting officer to
obligate funds on purchase docs against a specified lump sum of funds
reserved for the purpose for a specified time rather than obtaining individual
obligation auth on each purchase doc is _____________ (FAR 13.101(b)(4))?
Correct Answer - Bulk Funding
Definite Qty Contract Correct Answer - Unknown Delivery (known
Quantity)
Supplies/ services readily available
Requirements Contract Correct Answer - Unknown Quantity (known
Delivery)
Purchase from a single contractor
SF 1449 (std form for acq. of commercial items) Correct Answer - A CO
should use SF 1449 for acquisitions under Simplified Acq. Threshold (SAT)
but it SHALL use this form for acqs. over SAT.
FAR 12.5 provisions of law not applicable to acq. of Commercial Items
(examples below): Correct Answer - Examples are: covenant against
contingent fees (FAR 3.404), minimal response time for offers (FAR 5.203),
drug-free workplace restriction (FAR 23.5). See other details in FAR 12.503,
12.504, & 12.505.
The use of cost-reimbusable contracts is prohibited for the acquisition of
__________. Correct Answer - Commercial Items.
Which type of contracts should be used for the acquisition of commercial
items [FAR 12.207(a) and FAR 12.207(b)(1)]? Correct Answer - FAR
12.207(a): "Except as provided in paragraph (b) of this section, agencies shall
use firm-fixed-price contracts or fixed-price contracts with economic price
adjustment for the acquisition of commercial items." and FAR 12.207(b)(1)
Contracting activities shall employ SAP to the max extent practicable for acq.
of commercial items not exceeding __________________ (FAR 12.203)? Correct
Answer - $7,000,000 ($13 million for acquisitions as described in
13.500(c), including options, contracting activities may use any of the
simplified procedures authorized by subpart 13.5.
CAS do not apply to contracts and subks for commercial acq. unless
_____________________________________________ (FAR 12.214)? Correct Answer -
the contract provides for an economic price adjustment based on actual costs
incurred.
When acquiring commercial items, the CO must estb price reasonableness
IAW _____________________________ (FAR 12.209)? Correct Answer - 13.106-3,
14.408-2, or Subpart 15.4, as applicable.
To the maximum extent practicable, all contracts for the acquisition of
commercial items shall include which clauses [FAR 12.301(a)]? Correct
Answer - Only those required to implement laws (or executive orders)
,applicable to the acq. of commercial items, or those determined to be
consistent with customary commercial practice
What are the prohibitions on obtaining Certified Cost
or Pricing Data? Correct Answer - 1. Acquisitions at or below the SAT.
2. Prices are: (a) based on adequate price competition, (b) set by law or
regulation
3. Commercial items (or modifications to commercial items)
4. When a waiver has been granted.
(NOTE: certified cost & pricing data are different categories than that of cost &
price analysis - the latter doesn't require a formal certification and is based on
a mere business judgement diligence in review by the CO anytime to ascertain
price reasonableness)
Agencies to conduct market research before: Correct Answer - 1.
Developing new reqt. docs for acq.
2. Soliciting offers for acq. w/ est. value in excess of SAT.
3. Soliciting offers for acq. w/ est. value less than SAT, when:
a) adequate info is not available, and
b) circumstances justify its cost, and
c) before soliciting offers for acq. leading to a bundled contract
FAR Part 12 is not an acquisition method Correct Answer - - Only FAR
Parts 13, 14, & 15 constitute acq. methods.
- Part 12 principles used w/ one of the acq. methods to simplify the process
The extent of market research will vary, depending on which factors?
Correct Answer - Such as:
URGENCY
EST. DOLLAR VALUE
COMPLEXITY
PAST EXPERIENCE
Liquidated Damages (FAR 11.5) Correct Answer - This part prescribes
policies & procedures for using liquidated damages clauses in SOLICITATIONS
& CONTRACTS for:
- Supplies
- Services
, - R&D (research & development)
- and Construction
Note: this sub part doesn't apply to LDs for Subk plans or LDs relating to
Contract Work Hrs & Safety Stds Act.
Micro purchase Threshold Correct Answer - Generally $3500
EXCEPTIONS:
1. Construction contracts (Wage Stds): $2,000
2. Service contracts (Service Contract Labor Standards): $2,500.
3. Contingency ops & NBCW recovery inside the US: $20,000
4. Contingency ops & NBCW recovery outside the US: $30,000
Simplified Acquisition Thershold (SAT) - [FAR 13.5] Correct Answer -
Generally $150,000
EXCEPTIONS:
1. $300,000 for contingency Ops inside the US.
2. $1 Million for contingency Ops outside the US
Simplified Acquisition Procedures (SAP) Correct Answer - For the acq. of
certain commercial items (supplies & svcs) in amounts greater than SAT, but
Not exceeding $7M incl options ($13M in contingency ops or nbcr recovery
from attack), SAP can be employed.
A system wehreby the CO receives auth. from a fiscal & accounting officer to
obligate funds on purchase docs against a specified lump sum of funds
reserved for the purpose for a specified time rather than obtaining individual
obligation auth on each purchase doc is _____________ (FAR 13.101(b)(4))?
Correct Answer - Bulk Funding
Definite Qty Contract Correct Answer - Unknown Delivery (known
Quantity)
Supplies/ services readily available
Requirements Contract Correct Answer - Unknown Quantity (known
Delivery)
Purchase from a single contractor
