CFCM Prep(NCMA CFCM Study Guide and NCMA Practice Test) Questions and Answers (Graded A)

CFCM Prep Questions and Answers (Graded A)CFCM Prep Questions and Answers (Graded A)CFCM Prep Questions and Answers (Graded 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 - ANSWER-(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 - ANSWER-(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 - ANSWER-(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