1
CFCM EXAM (Questions) (Latest 2025 /
2026 Update) Actual Questions and
Verified Answers | 100% Correct | Grade
A+ COMPLETE
What is a Certificate of Competency - (ANSWER)A certificate issued by the SBA
stating that the holder is responsible for the purpose of receiving and performing
a specific Government contract
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
What can a contractor access online at www.fedbizopps.gov? - (ANSWER)The
government wide point of entry
Size Standards - (ANSWER)FAR 19.102(b)(3): "(Small business size standards are
applied by) Specifying the size standard in the solicitation so that offerors can
appropriately represent themselves as small or large"
When may an agency be required to use simplified acquisition procedures? -
(ANSWER)When the value of the contract is $100,000
How is the publication of a paid advertisement in a newspaper authorized? -
(ANSWER)FAR 5.502 "Authority to approve the publication of paid advertisements
, 2
in the newspaper is vested in the head of each agency. This approval authority
may be delegated" Must be a written authorization from the head of the agency.
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
If a prospective contractor is qualified and eligible to receive 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.
This is not a method for simplified acquisition - (ANSWER)Advanced Agreement
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
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
Who is responsible for printing, publishing, and distributing the Federal
Acquisition Regulation? - (ANSWER)The FAR Secretariat, as authorized by GSA
, 3
Which FAR part prescribes policies and procedures unique to the acquisition of
commercial items? - (ANSWER)FAR Part 12
Which of the following is necessarily rue about a cost that is assignable or
chargeable to one of the most cost objectives on the basis of relative benefits
received or other equitable relationship? - (ANSWER)The cost is allocable
A defense subcontractor provides a gift of vehicles to a prime contractor, and in
return the prime contractor awards the subcontractor a valuable military
subcontract. What will happen next? - (ANSWER)The prime contractor and the
subcontractor are subject to civil and criminal penalties
A mineral required for production in performance of a contract is not mined in
the United States, but can be acquired from another country. How does the Buy
American statute apply in this case? - (ANSWER)The mineral can be acquired
from a foreign source if it is in the best interest of the Government.
Which contract types allow for disallowing costs during the course of
performance, after the costa have been incurred? - (ANSWER)Cost
reimbursement contracts, the cost-reimbursement portion of fixed-price
contracts, letter contracts that provide for reimbursement of costs, and time and
material and labor-hour contracts provide for disallowing costs during the course
of performance after the costs have been incurred.
When it is in the best interest of the Government to consider award to other than
the highest technically rated offeror, which of the following should the
Government use to select the source? - (ANSWER)A tradeoff process
CFCM EXAM (Questions) (Latest 2025 /
2026 Update) Actual Questions and
Verified Answers | 100% Correct | Grade
A+ COMPLETE
What is a Certificate of Competency - (ANSWER)A certificate issued by the SBA
stating that the holder is responsible for the purpose of receiving and performing
a specific Government contract
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
What can a contractor access online at www.fedbizopps.gov? - (ANSWER)The
government wide point of entry
Size Standards - (ANSWER)FAR 19.102(b)(3): "(Small business size standards are
applied by) Specifying the size standard in the solicitation so that offerors can
appropriately represent themselves as small or large"
When may an agency be required to use simplified acquisition procedures? -
(ANSWER)When the value of the contract is $100,000
How is the publication of a paid advertisement in a newspaper authorized? -
(ANSWER)FAR 5.502 "Authority to approve the publication of paid advertisements
, 2
in the newspaper is vested in the head of each agency. This approval authority
may be delegated" Must be a written authorization from the head of the agency.
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
If a prospective contractor is qualified and eligible to receive 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.
This is not a method for simplified acquisition - (ANSWER)Advanced Agreement
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
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
Who is responsible for printing, publishing, and distributing the Federal
Acquisition Regulation? - (ANSWER)The FAR Secretariat, as authorized by GSA
, 3
Which FAR part prescribes policies and procedures unique to the acquisition of
commercial items? - (ANSWER)FAR Part 12
Which of the following is necessarily rue about a cost that is assignable or
chargeable to one of the most cost objectives on the basis of relative benefits
received or other equitable relationship? - (ANSWER)The cost is allocable
A defense subcontractor provides a gift of vehicles to a prime contractor, and in
return the prime contractor awards the subcontractor a valuable military
subcontract. What will happen next? - (ANSWER)The prime contractor and the
subcontractor are subject to civil and criminal penalties
A mineral required for production in performance of a contract is not mined in
the United States, but can be acquired from another country. How does the Buy
American statute apply in this case? - (ANSWER)The mineral can be acquired
from a foreign source if it is in the best interest of the Government.
Which contract types allow for disallowing costs during the course of
performance, after the costa have been incurred? - (ANSWER)Cost
reimbursement contracts, the cost-reimbursement portion of fixed-price
contracts, letter contracts that provide for reimbursement of costs, and time and
material and labor-hour contracts provide for disallowing costs during the course
of performance after the costs have been incurred.
When it is in the best interest of the Government to consider award to other than
the highest technically rated offeror, which of the following should the
Government use to select the source? - (ANSWER)A tradeoff process
