Certified Federal Contracts Manager (CFCM) Questions and Answers 100% Correct(GRADED A+)

A cost is reasonable if, in its nature and amount, it does not exceed - ANSWER-that which would be incurred by a prudent person in the conduct of competitive business. Advance Agreements should not be negotiated - ANSWER-after the incurrence of the costs involved. Under the Assignment of Claims Act, a contractor may assign moneys due or to become due under a contract if it meets all but which of the following? - ANSWER-The contract specifies payments aggregating $100,000 or more. Individuals delegated micro-purchase authority do not need to be - ANSWER-appointed in an SF 1402 Advisory and assistance services are classified in all of the following subdivisions except - ANSWER-construction. A foreign end product may be purchased under the Buy American Act if - ANSWER-the price of the lowest domestic offer is determined to be unreasonable by the CO. The threshold which must be exceeded before purchases of services become subject to the Service Contract Act is - ANSWER-$2,500 Which of the following examples is considered to be an inherently governmental function? - ANSWER-approving contractual documents If market research indicates commercial or nondevelopmental items might not be available to satisfy agency needs, agencies shall next: - ANSWER-determine whether the need can be restated to permit commercial or nondevelopmental items to satisfy the agency's needs. Which is NOT one of the seven exceptions to full and open competition? - ANSWER-Approval by the Agency Head If the delivery schedule is based on the date of the contract, the contracting officer shall mail or otherwise furnish to the contractor the contract, notice of award, acceptance of