CFCM Study Guide with Complete Solutions(SCORED A+)

Certificate of Competency - ANSWER-issued by the SBA stating that the holder is responsible for the purpose of receiving and performing a specific government contract (FAR 19.601(a)) Except as specifically permitted by executive agencies, the fast payment procedure may not be used for individual purchasing instruments exceeding what amount? - ANSWER-$35,000 (FAR 13.402(a)) What can a contractor access online at ? - ANSWER-Government-wide Point of Entry (GPE) (FAR 5.201(d)) How is the publication of a paid advertisement in a newspaper authorized? - ANSWER-By the head of each agency (FAR 5.502) Approval may be delegated The unilateral right in a contract by which the Government may elect to purchase additional supplies or services called for by the contract is called what? - ANSWER-Option (FAR 2.101) If a prospective contractor is qualified and eligible to receive an award, but lacks adequate financial resources to perform the contract, can the contractor be determined responsible? - ANSWER-If the contractor presents evidence of the ability to obtain adequate financial resources , the contractor may be determined responsible. (FAR 9.104(a), 9.104-1(a), and 9.104-3(a)) For a contract exceeding the simplified acquisition threshold, an offeror (other than an individual) that does not agree to provide a drug-free workplace is what? - ANSWER-Not considered a responsible source (FAR 23.504(a)) What is NOT a method for simplified acquisition? - ANSWER-Advance Agreement (FAR 13.301, 13.302, 13.303) Example methods for simplified acquisition - ANSWER-PO, BPA, Gov't wide P-Card (FAR 13.301, 13.302, 13.303) What law specifies how agencies shall make their records available upon public request, imposes strict time standards for agency responses, and exempts certain records from public disclosure? - ANSWER-Freedom of Information Act (FAR 24.203(a))