CFCM Prep Questions With Complete Solutions 100% Verified

CFCM Prep Questions With Complete Solutions 100% Verified 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 (d) $1.5 million - answer(c) $1 million (FAR 2.101) Which of the following is a commercial item? (a) A nondevelopmental item, if the procuring agency determines the item was developed exclusively at private expense and sold in substantial quantities, on a competitive basis, to multiple state and local governments (b) An item that evolved from an item that has not been sold to the general public (c) A commercial item that has received modfications not available in the commercial marketplace (d) A nondevelopment item used exclusively for governmental purposes - answer(a) A nondevelopmental item, if the procuring agency determines the item was developed exclusively at private expense and sold in substantial quantities, on a competitive basis, to multiple state and local governments (FAR 2.101) Consolidating two or more requirements for supplies or services, previously provided or performed under separate smaller contracts, into a solicitation for a single contract is defined as: (a) Combining (b) Consolidating (c) Bundling (d) Mixing - answer(c) Bundling (FAR 2.101) Which of the following are included in the definition of "contracts?" (a) Awards and notices of awards and