CFCM Study Guide: FULL TEST ANSWERED CORRECTLY | 2025-
2026
1. Which of the following statements is NOT true?
d. Generally, the
a. The government encourages the maximum govern- ment will
practi- cable commercial use of inventions made refuse to award a
under gov- ernment contracts.
b. The government recognizes rights in data contract on the
devel- oped at private expense, and limits its grounds that the
demands for delivery of that data. prospective con-
c. The government requires that contractors tractor may infringe
obtain permission from copyright owners before
including copyrighted works, owned by others, a patent.
in data to be delivered to the government.
d. Generally, the government will refuse to award FAR 27.102
a contract on the grounds that the prospective
contrac- tor may infringe a patent.
2. Performance and payment bonds are required or may d. construction
contracts
be required exceeding $150,000
for and
services and supply
con-
a.construction contracts and services and supply con- tracts exceeding the
SAT
tracts exceeding $2,000. when necessary to
b. construction contracts exceeding $150,000. pro- tect the
c. any contract for services, governments in-
d. construction contracts exceeding $150,000 and terests.
ser- vices and supply contracts exceeding the
SAT when necessary to protect the governments
interests. FAR 28.102-1(a),
28.103-1(a), 28.103-
3. Cost Accounting Standards Board rules and 2(a)
regula- tions apply to
a. negotiated
a. negotiated contracts and subcontracts.
contracts and
b. sealed bid contracts.
subcontracts.
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, CFCM Study Guide: FULL TEST ANSWERED CORRECTLY | 2025-
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FAR 30.000
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, CFCM Study Guide: FULL TEST ANSWERED CORRECTLY | 2025-
2026
c. contracts with small business concerns.
d. bridge contracts.
4. The head of the agency may waive the b. The contract
applicability of Cost Accounting Standards (CAS) or sub- contract is
for a particular less than $15
contract or subcontract when one of these conditions million, primarily
engaged
exists in the sale of
: commercial
items, and has no con-
a. The contract or subcontract is less than $50 million, tracts/subcontracts
sub-
primarily engaged in the sale of commercial
items, and has no contracts/subcontracts ject to CAS.
subject to CAS.
b. The contract or subcontract is less than $15 million, FAR 30.201-5
primarily engaged in the sale of commercial items,
and has no contracts/subcontracts subject to CAS.
c. The contract or subcontract is less than $7.5
million, primarily engaged in the sale of
commercial items.
d. The contract or subcontract is less than $5
million, primarily engaged in the sale of
commercial items, and has no
contracts/subcontracts subject to CAS.
5. Which of the following statements about amount,
advance agreements is NOT true? it does
not
a. Advance agreements may only be negotiated exceed
with a particular contractor for a single contract. that
b. Advance agreements may be negotiated either which
be- fore or during a contract. would be
c. The agreement must be in writing.
d. The agreements must be incorporated into
applic- able current and future contracts.
6. A cost is reasonable if, in its nature and
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, CFCM Study Guide: FULL TEST ANSWERED CORRECTLY | 2025-
2026
a. Advance agreements may only be negotiated with a particular
contrac- tor for a single contract.
FAR 31.109
a. incurred by a prudent person in the conduct of
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81
2026
1. Which of the following statements is NOT true?
d. Generally, the
a. The government encourages the maximum govern- ment will
practi- cable commercial use of inventions made refuse to award a
under gov- ernment contracts.
b. The government recognizes rights in data contract on the
devel- oped at private expense, and limits its grounds that the
demands for delivery of that data. prospective con-
c. The government requires that contractors tractor may infringe
obtain permission from copyright owners before
including copyrighted works, owned by others, a patent.
in data to be delivered to the government.
d. Generally, the government will refuse to award FAR 27.102
a contract on the grounds that the prospective
contrac- tor may infringe a patent.
2. Performance and payment bonds are required or may d. construction
contracts
be required exceeding $150,000
for and
services and supply
con-
a.construction contracts and services and supply con- tracts exceeding the
SAT
tracts exceeding $2,000. when necessary to
b. construction contracts exceeding $150,000. pro- tect the
c. any contract for services, governments in-
d. construction contracts exceeding $150,000 and terests.
ser- vices and supply contracts exceeding the
SAT when necessary to protect the governments
interests. FAR 28.102-1(a),
28.103-1(a), 28.103-
3. Cost Accounting Standards Board rules and 2(a)
regula- tions apply to
a. negotiated
a. negotiated contracts and subcontracts.
contracts and
b. sealed bid contracts.
subcontracts.
1/
81
, CFCM Study Guide: FULL TEST ANSWERED CORRECTLY | 2025-
2026
FAR 30.000
2/
81
, CFCM Study Guide: FULL TEST ANSWERED CORRECTLY | 2025-
2026
c. contracts with small business concerns.
d. bridge contracts.
4. The head of the agency may waive the b. The contract
applicability of Cost Accounting Standards (CAS) or sub- contract is
for a particular less than $15
contract or subcontract when one of these conditions million, primarily
engaged
exists in the sale of
: commercial
items, and has no con-
a. The contract or subcontract is less than $50 million, tracts/subcontracts
sub-
primarily engaged in the sale of commercial
items, and has no contracts/subcontracts ject to CAS.
subject to CAS.
b. The contract or subcontract is less than $15 million, FAR 30.201-5
primarily engaged in the sale of commercial items,
and has no contracts/subcontracts subject to CAS.
c. The contract or subcontract is less than $7.5
million, primarily engaged in the sale of
commercial items.
d. The contract or subcontract is less than $5
million, primarily engaged in the sale of
commercial items, and has no
contracts/subcontracts subject to CAS.
5. Which of the following statements about amount,
advance agreements is NOT true? it does
not
a. Advance agreements may only be negotiated exceed
with a particular contractor for a single contract. that
b. Advance agreements may be negotiated either which
be- fore or during a contract. would be
c. The agreement must be in writing.
d. The agreements must be incorporated into
applic- able current and future contracts.
6. A cost is reasonable if, in its nature and
3/
81
, CFCM Study Guide: FULL TEST ANSWERED CORRECTLY | 2025-
2026
a. Advance agreements may only be negotiated with a particular
contrac- tor for a single contract.
FAR 31.109
a. incurred by a prudent person in the conduct of
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