CFCM STUDY GUIDE FULLY SOLVED EXAM
PAPER GRADED A+
◉ Maximum term for severable services.
Answer: Until the end of the fiscal year of the appropriation.
◉ Unsolicited proposal on a sole source basis.
Answer: The proposal is for research, and justification and approval
have been obtained.
◉ Qualified products list.
Answer: A list of products that have been examined and tested, and
have satisfied all applicable requirements.
◉ Assignment of a claim.
Answer: A contractor transfers its right to be paid by the
Government for contract performance to a trust company.
◉ Inherently governmental function.
Answer: Interviewing applicants for Federal employment.
◉ Refund relating to an allowable cost.
,Answer: The contractor may credit it to the Government either as a
cost reduction or a cash refund.
◉ Agency resolving SAFETY Act questions.
Answer: Department of Homeland Security.
◉ Market research indication.
Answer: If market research indicates that commercial or
nondevelopmental items might not be available to satisfy agency
needs, the agency shall take appropriate action.
◉ Solicit and award a contract for a developmental item.
Answer: Reevaluate the need and determine whether the need can
be restated to permit commercial or nondevelopmental items to
satisfy the agency's need
◉ Order a similar item from a GSA schedule.
Answer: Modify it to fit the agency's need
◉ Cancel the agency's requirement.
Answer: Correct: Reevaluate the need and determine whether the
need can be restated to permit commercial or nondevelopmental
items to satisfy the agency's need
,◉ Broad Agency Announcement.
Answer: Which of the following is not a required element in a Broad
Agency Announcement?
◉ An estimate of the level of effort required.
Answer: Correct: An estimate of the level of effort required
◉ What is buying-in?.
Answer: Providing a thing of value to a contractor for the purpose of
improperly obtaining favorable treatment in connection with a
contract
◉ Dividing the market.
Answer: So that certain competitors bid low only for contracts
awarded by certain agencies or in certain geographical areas
◉ Purchasing additional supplies or services.
Answer: Called for in a contract, within a specified period of time, by
exercising a right in the contract
◉ Submitting an offer below anticipated costs.
Answer: Expecting to increase the contract amount after award or to
receive follow-on contracts at higher prices
, ◉ At the lowest level, who is directly responsible for reviewing an
agency's contracting operations?.
Answer: The agency advocate for competition
◉ The senior procurement executive.
Answer: Correct: The agency advocate for competition
◉ What is a CPSR and what is its purpose?.
Answer: Contractor Pricing System Review; to ensure that a
contractor is correctly and accurately applying dollar thresholds in
its pricing
◉ Contractor Purchasing System Review.
Answer: To evaluate the efficiency and effectiveness with which the
contractor spends Government funds
◉ Counterfeit Part Surveillance Report.
Answer: To detect and avoid the use of parts which have been
misrepresented or unlawfully reproduced
◉ Contractor Program Status Register.
PAPER GRADED A+
◉ Maximum term for severable services.
Answer: Until the end of the fiscal year of the appropriation.
◉ Unsolicited proposal on a sole source basis.
Answer: The proposal is for research, and justification and approval
have been obtained.
◉ Qualified products list.
Answer: A list of products that have been examined and tested, and
have satisfied all applicable requirements.
◉ Assignment of a claim.
Answer: A contractor transfers its right to be paid by the
Government for contract performance to a trust company.
◉ Inherently governmental function.
Answer: Interviewing applicants for Federal employment.
◉ Refund relating to an allowable cost.
,Answer: The contractor may credit it to the Government either as a
cost reduction or a cash refund.
◉ Agency resolving SAFETY Act questions.
Answer: Department of Homeland Security.
◉ Market research indication.
Answer: If market research indicates that commercial or
nondevelopmental items might not be available to satisfy agency
needs, the agency shall take appropriate action.
◉ Solicit and award a contract for a developmental item.
Answer: Reevaluate the need and determine whether the need can
be restated to permit commercial or nondevelopmental items to
satisfy the agency's need
◉ Order a similar item from a GSA schedule.
Answer: Modify it to fit the agency's need
◉ Cancel the agency's requirement.
Answer: Correct: Reevaluate the need and determine whether the
need can be restated to permit commercial or nondevelopmental
items to satisfy the agency's need
,◉ Broad Agency Announcement.
Answer: Which of the following is not a required element in a Broad
Agency Announcement?
◉ An estimate of the level of effort required.
Answer: Correct: An estimate of the level of effort required
◉ What is buying-in?.
Answer: Providing a thing of value to a contractor for the purpose of
improperly obtaining favorable treatment in connection with a
contract
◉ Dividing the market.
Answer: So that certain competitors bid low only for contracts
awarded by certain agencies or in certain geographical areas
◉ Purchasing additional supplies or services.
Answer: Called for in a contract, within a specified period of time, by
exercising a right in the contract
◉ Submitting an offer below anticipated costs.
Answer: Expecting to increase the contract amount after award or to
receive follow-on contracts at higher prices
, ◉ At the lowest level, who is directly responsible for reviewing an
agency's contracting operations?.
Answer: The agency advocate for competition
◉ The senior procurement executive.
Answer: Correct: The agency advocate for competition
◉ What is a CPSR and what is its purpose?.
Answer: Contractor Pricing System Review; to ensure that a
contractor is correctly and accurately applying dollar thresholds in
its pricing
◉ Contractor Purchasing System Review.
Answer: To evaluate the efficiency and effectiveness with which the
contractor spends Government funds
◉ Counterfeit Part Surveillance Report.
Answer: To detect and avoid the use of parts which have been
misrepresented or unlawfully reproduced
◉ Contractor Program Status Register.
