Certified Federal Contracts Manager
(CFCM) Cert. Exam || Questions &
Answers (100% Accurate)
Conceptial Research
, Certified Federal Contracts Manager
(CFCM) Cert. Exam || Questions &
Answers (100% Accurate)
_______________________ is a Department of Commerce regulation in support of
approved national defense, emergency preparedness, and energy programs, and the
Secretary of Commerce is designated to administer it. - ANSWER - Defense Priorities
and Allocations System
Under Sealed Bidding, a bid sample will be used to: - ANSWER - determine
responsiveness of the bid.
Which type of the cost reimbursement contract is the least preferred type due to its
minimum incentive for the contractor to control cost? - ANSWER - cost plus fixed fee
According to FAR 13.003, Policy for Simplified Acquisition Procedures, which of the
following is correct? - ANSWER - Agencies shall use the government-wide commercial
purchase card and electronic purchasing techniques to the maximum practicable in
conducting simplified acquisitions.
Which of the following must be evaluated in every source selection? - ANSWER - Price
or cost to the government
In what FAR Part will you find rules and policy on foreign acquisitions? - ANSWER -
FAR Part 25
The Miller Act requires: - ANSWER - a performance and payment bond for construction
contracts over $150,000
Under what type of contract might the seller never have to perform any services or
provide any deliveries? - ANSWER - Requirements contract.
A termination for convenience should not normally be issued if the undelivered balance
of the contract is less than: - ANSWER - $5,000
Effective competition, as used in FAR Part 34, is a market condition that exists when -
ANSWER - two or more contractors act independently and actively contend for the
government's business.
The total amount that can be paid for commercial advance payments cannot exceed
_____ of the contract price: - ANSWER - 15%
, When progress payments are authorized, what is the customary progress payment rate
applicable to the total costs of performing the contract? - ANSWER - 80%, 85% for
contracts with small businesses
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
proposal or other contract document - ANSWER - not later than the date of the contract.
Liquidated damages are typically assessed - ANSWER - per calendar day.
Cost Accounting Standards apply to commercial item contracts when they are -
ANSWER - fixed price with economic price adjustment based on actual costs.
(CFCM) Cert. Exam || Questions &
Answers (100% Accurate)
Conceptial Research
, Certified Federal Contracts Manager
(CFCM) Cert. Exam || Questions &
Answers (100% Accurate)
_______________________ is a Department of Commerce regulation in support of
approved national defense, emergency preparedness, and energy programs, and the
Secretary of Commerce is designated to administer it. - ANSWER - Defense Priorities
and Allocations System
Under Sealed Bidding, a bid sample will be used to: - ANSWER - determine
responsiveness of the bid.
Which type of the cost reimbursement contract is the least preferred type due to its
minimum incentive for the contractor to control cost? - ANSWER - cost plus fixed fee
According to FAR 13.003, Policy for Simplified Acquisition Procedures, which of the
following is correct? - ANSWER - Agencies shall use the government-wide commercial
purchase card and electronic purchasing techniques to the maximum practicable in
conducting simplified acquisitions.
Which of the following must be evaluated in every source selection? - ANSWER - Price
or cost to the government
In what FAR Part will you find rules and policy on foreign acquisitions? - ANSWER -
FAR Part 25
The Miller Act requires: - ANSWER - a performance and payment bond for construction
contracts over $150,000
Under what type of contract might the seller never have to perform any services or
provide any deliveries? - ANSWER - Requirements contract.
A termination for convenience should not normally be issued if the undelivered balance
of the contract is less than: - ANSWER - $5,000
Effective competition, as used in FAR Part 34, is a market condition that exists when -
ANSWER - two or more contractors act independently and actively contend for the
government's business.
The total amount that can be paid for commercial advance payments cannot exceed
_____ of the contract price: - ANSWER - 15%
, When progress payments are authorized, what is the customary progress payment rate
applicable to the total costs of performing the contract? - ANSWER - 80%, 85% for
contracts with small businesses
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
proposal or other contract document - ANSWER - not later than the date of the contract.
Liquidated damages are typically assessed - ANSWER - per calendar day.
Cost Accounting Standards apply to commercial item contracts when they are -
ANSWER - fixed price with economic price adjustment based on actual costs.
