CFCM Practice Test Questions with Correct Answers

CFCM Practice Test Questions with Correct Answers The process of examining and evaluating a proposed price without evaluating its separate cost elements and proposed profit is called - Answer-price analysis Which statement concerning requests for information (RFIs) is true? - Answer-Responses to RFI's are not offers and may not be accepted by the government to form a binding contract Which statement about proposal revisions is true? - Answer-The CO may request or allow proposal revisions to clarify and document understandings reached during negotiations The contractor is required to submit certified cost and pricing data for subcontracts that are - Answer-the lower of either 13.5M or values at more than both the pertinent cost or pricing threshold and more than 10% of the prime contractor's price Communication with an offeror for the sole purpose of eliminating minor irregularities, informalites, or apparent clerical mistakes in the proposal is called - Answer-clarification A proposal may be withdrawn - Answer-by written notice at any time before award A certificate of current cost or pricing data - Answer-does not constitute a representation as to the accuracy of the contractor's judgement on the estimate of future costs or projections If defective pricing is discovered after award - Answer-the gov is entitled to a price adjustment of any significant amount Pre-award debriefings shall NOT disclose - Answer-the number of offerors The least preferred method of submitting ideas/concepts to the gov is - Answer-unsolicited proposals In response to a widely publicized solicitation for a noncommerical item, a CO only recieved one offer. The offer is a FFP $1M, which is the same price for a similar item recently purchased by another agency under a contract that resulted from adequate price competition. Which of the following is correct? - Answer-The proposed price is reasonable in comparison to a rent price for a similar item, certified cost and pricing data is not required. The contract types are grouped into two broad categories - Answer-Fixed price and cost reimbursement