Certified Federal Contracts Manager (CFCM)
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1. A cost is reasonable if, in its nature and amount, it does not exceed: that which
would be incurred by a prudent person in the conduct of competitive business.
2. Advance Agreements should not be negotiated: after the incurrence of the costs involved.
3. 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?: The
contract specifies payments aggregating $100,000 or more.
4. Individuals delegated micro-purchase authority do not need to be: appointed in
an SF 1402
5. Advisory and assistance services are classified in all of the following subdivi-
sions except: construction.
6. A foreign end product may be purchased under the Buy American Act if: the
price of the lowest domestic offer is determined to be unreasonable by the CO.
7. The threshold which must be exceeded before purchases of services become
subject to the Service Contract Act is: $2,500
8. Which of the following examples is considered to be an inherently govern-
mental function?: approving contractual documents
9. If market research indicates commercial or nondevelopmental items might
not be available to satisfy agency needs, agencies shall next:: determine whether the
need can be restated to permit commercial or nondevelopmental items to satisfy the agency's needs.
10. Which is NOT one of the seven exceptions to full and open competition?: Ap-
proval by the Agency Head
11. 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: not later than the date of
the contract.
12. Liquidated damages are typically assessed: per calendar day.
13. Cost Accounting Standards apply to commercial item contracts when they
are: fixed price with economic price adjustment based on actual costs.
14. An indefinite-quantity contract is best used when:: a recurring need is anticipated
15. _______________________ is a Department of Commerce regulation in support of
approved national defense, emergency preparedness, and energy programs,
, Certified Federal Contracts Manager (CFCM)
Study online at https://quizlet.com/_hq8mmj
and the Secretary of Commerce is designated to administer it.: Defense Priorities and
Allocations System
16. Under Sealed Bidding, a bid sample will be used to:: determine responsiveness of the
bid.
17. Which type of the cost reimbursement contract is the least preferred type
due to its minimum incentive for the contractor to control cost?: cost plus fixed fee
18. According to FAR 13.003, Policy for Simplified Acquisition Procedures, which
of the following is correct?: Agencies shall use the government-wide commercial purchase card and
electronic purchasing techniques to the maximum practicable in conducting simplified acquisitions.
19. Which of the following must be evaluated in every source selection?: Price or cost
to the government
20. In what FAR Part will you find rules and policy on foreign acquisitions?: FAR Part
25
21. The Miller Act requires:: a performance and payment bond for construction contracts over $150,000
22. Under what type of contract might the seller never have to perform any
services or provide any deliveries?: Requirements contract.
23. A termination for convenience should not normally be issued if the undeliv-
ered balance of the contract is less than:: $5,000
24. Effective competition, as used in FAR Part 34, is a market condition that exists
when: two or more contractors act independently and actively contend for the government's business.
25. The total amount that can be paid for commercial advance payments cannot
exceed _____ of the contract price:: 15%
26. When progress payments are authorized, what is the customary progress
payment rate applicable to the total costs of performing the contract?: 80%, 85%
for contracts with small businesses
27. The Walsh-Healy Public Contracts Act pertains to such matters as minimum
wages, maximum hours, child labor, convict labor, and safe and sanitary work-
ing conditions and applies to contracts for the manufacture or furnishing of
materials, supplies, articles, and equipment in the United States in any amount
exceeding: $15,000
28. A valid unsolicited proposal must:: be independently originated and developed by the offeror.
, Certified Federal Contracts Manager (CFCM)
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29. Each acquisition of supplies or services that has an anticipated dollar value
exceeding _____ and not exceeding ______ is reserved exclusively for small busi-
ness concerns and shall be set aside unless the contracting officer appropri-
ately determines otherwise.: $3,000; $150,000
30. Fast Payment Procedures are generally used when delivery must occur at a
geographically separated location that would make it impractical to make time-
ly payment based on evidence of government acceptance and the individual
order does not exceed:: $30,000
31. Under FAR Part 14, Sealed Bidding, Bid Samples:: will be rejected for nonresponsiveness
if the sample fails to conform to each of the characteristics listed in the invitation.
32. Agencies may not use the following contract type for the acquisition of
commercial items:: Cost-Plus-Award-Fee
33. Permitted exchanges of information with Industry prior to receipt of propos-
als include all of the following except:: Providing the Independent Government Cost Estimate to
offerors for pricing purposes
34. If no time is specified in a solicitation, the time of receipt is:: 4:30 pm
35. What are clarifications?: Limited exchanges between the government and offerors that may occur when
award without discussions are contemplated.
36. Post award debriefings include all of the following EXCEPT?: A point-by-point com-
parison between the winning offeror's and the unsuccessful offeror's proposals.
37. Which contract type provides for an initially negotiated fee to be adjusted
later by a formula based on the relationship of the total allowable costs to the
total target costs?: Cost Plus Incentive Fee
38. A major difference between Federal contracting and commercial contracting
is the application of the "Changes" clause. The Changes clause makes it pos-
sible for the government to:: unilaterally make changes to a contract without getting the contractor's
agreement.
39. The contracting officer, responsible for consent of a subcontract, must at a
minimum review the request and supporting data and consider the following:-
: is the decision to subcontract consistent with the contractor's approved make-or-buy program, if any?
40. The requirements of FAR Parts ______________ DO NOT apply to orders and
BPAs placed under schedule contracts.: FAR Parts 5, 6, and 19
Study online at https://quizlet.com/_hq8mmj
1. A cost is reasonable if, in its nature and amount, it does not exceed: that which
would be incurred by a prudent person in the conduct of competitive business.
2. Advance Agreements should not be negotiated: after the incurrence of the costs involved.
3. 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?: The
contract specifies payments aggregating $100,000 or more.
4. Individuals delegated micro-purchase authority do not need to be: appointed in
an SF 1402
5. Advisory and assistance services are classified in all of the following subdivi-
sions except: construction.
6. A foreign end product may be purchased under the Buy American Act if: the
price of the lowest domestic offer is determined to be unreasonable by the CO.
7. The threshold which must be exceeded before purchases of services become
subject to the Service Contract Act is: $2,500
8. Which of the following examples is considered to be an inherently govern-
mental function?: approving contractual documents
9. If market research indicates commercial or nondevelopmental items might
not be available to satisfy agency needs, agencies shall next:: determine whether the
need can be restated to permit commercial or nondevelopmental items to satisfy the agency's needs.
10. Which is NOT one of the seven exceptions to full and open competition?: Ap-
proval by the Agency Head
11. 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: not later than the date of
the contract.
12. Liquidated damages are typically assessed: per calendar day.
13. Cost Accounting Standards apply to commercial item contracts when they
are: fixed price with economic price adjustment based on actual costs.
14. An indefinite-quantity contract is best used when:: a recurring need is anticipated
15. _______________________ is a Department of Commerce regulation in support of
approved national defense, emergency preparedness, and energy programs,
, Certified Federal Contracts Manager (CFCM)
Study online at https://quizlet.com/_hq8mmj
and the Secretary of Commerce is designated to administer it.: Defense Priorities and
Allocations System
16. Under Sealed Bidding, a bid sample will be used to:: determine responsiveness of the
bid.
17. Which type of the cost reimbursement contract is the least preferred type
due to its minimum incentive for the contractor to control cost?: cost plus fixed fee
18. According to FAR 13.003, Policy for Simplified Acquisition Procedures, which
of the following is correct?: Agencies shall use the government-wide commercial purchase card and
electronic purchasing techniques to the maximum practicable in conducting simplified acquisitions.
19. Which of the following must be evaluated in every source selection?: Price or cost
to the government
20. In what FAR Part will you find rules and policy on foreign acquisitions?: FAR Part
25
21. The Miller Act requires:: a performance and payment bond for construction contracts over $150,000
22. Under what type of contract might the seller never have to perform any
services or provide any deliveries?: Requirements contract.
23. A termination for convenience should not normally be issued if the undeliv-
ered balance of the contract is less than:: $5,000
24. Effective competition, as used in FAR Part 34, is a market condition that exists
when: two or more contractors act independently and actively contend for the government's business.
25. The total amount that can be paid for commercial advance payments cannot
exceed _____ of the contract price:: 15%
26. When progress payments are authorized, what is the customary progress
payment rate applicable to the total costs of performing the contract?: 80%, 85%
for contracts with small businesses
27. The Walsh-Healy Public Contracts Act pertains to such matters as minimum
wages, maximum hours, child labor, convict labor, and safe and sanitary work-
ing conditions and applies to contracts for the manufacture or furnishing of
materials, supplies, articles, and equipment in the United States in any amount
exceeding: $15,000
28. A valid unsolicited proposal must:: be independently originated and developed by the offeror.
, Certified Federal Contracts Manager (CFCM)
Study online at https://quizlet.com/_hq8mmj
29. Each acquisition of supplies or services that has an anticipated dollar value
exceeding _____ and not exceeding ______ is reserved exclusively for small busi-
ness concerns and shall be set aside unless the contracting officer appropri-
ately determines otherwise.: $3,000; $150,000
30. Fast Payment Procedures are generally used when delivery must occur at a
geographically separated location that would make it impractical to make time-
ly payment based on evidence of government acceptance and the individual
order does not exceed:: $30,000
31. Under FAR Part 14, Sealed Bidding, Bid Samples:: will be rejected for nonresponsiveness
if the sample fails to conform to each of the characteristics listed in the invitation.
32. Agencies may not use the following contract type for the acquisition of
commercial items:: Cost-Plus-Award-Fee
33. Permitted exchanges of information with Industry prior to receipt of propos-
als include all of the following except:: Providing the Independent Government Cost Estimate to
offerors for pricing purposes
34. If no time is specified in a solicitation, the time of receipt is:: 4:30 pm
35. What are clarifications?: Limited exchanges between the government and offerors that may occur when
award without discussions are contemplated.
36. Post award debriefings include all of the following EXCEPT?: A point-by-point com-
parison between the winning offeror's and the unsuccessful offeror's proposals.
37. Which contract type provides for an initially negotiated fee to be adjusted
later by a formula based on the relationship of the total allowable costs to the
total target costs?: Cost Plus Incentive Fee
38. A major difference between Federal contracting and commercial contracting
is the application of the "Changes" clause. The Changes clause makes it pos-
sible for the government to:: unilaterally make changes to a contract without getting the contractor's
agreement.
39. The contracting officer, responsible for consent of a subcontract, must at a
minimum review the request and supporting data and consider the following:-
: is the decision to subcontract consistent with the contractor's approved make-or-buy program, if any?
40. The requirements of FAR Parts ______________ DO NOT apply to orders and
BPAs placed under schedule contracts.: FAR Parts 5, 6, and 19
