CFCM PRACTICE EXAM QUESTIONS
AND VERIFIED ANSWERS; 100%
CORRECT; GRADE A
A cash fund of fixed amount established by an advance of funds, for
disbursement in cash for relatively small amounts is called what? -
correct answer- Imprest Fund
A contractor has made an invention under a Federal research and
development contract. In which of the following cases may the
contractor be required to assign title to the invention to the
Government? - correct answer- The contractor does not have a
place of business in the United States
A contractor infringes on a copyright with the authorization of the
Government. What remedy is available to the copyright holder? -
correct answer- A suit for monetary damages against the Government
in the Court of Federal Claims
A contractor under a construction contract provides the Government
with a quantity of unit-priced items other than the quantity called for.
Can the Government or the contractor demand an adjustment in the
contract price? - correct answer- Yes, if the variation exceeds plus or
minus 15 percent of the expected quantity
, 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. Which of the following is true? - correct answer-
The prime contractor and the subcontractor are subject to civil and
criminal penalties
A failure in estimating, accumulating, or reporting costs to comply with
applicable cost accounting standards is called what? - correct answer-
Noncompliance
Drawings submitted by a contractor to show the construction of a
particular structure as actually completed under the contract are called
what? - correct answer- Record Drawings
Except for copyrighted works, what rights does the Government acquire
in data first produced in the performance of a contract? - correct
answer- Unlimited rights
Except with the approval of the head of the agency, in which of the
following cases shall a contract for construction of a project not be
awarded? - correct answer- The offeror is the firm that designed the
project
For agencies delegated authority to establish new Federal Supply
Schedules, what must the contracting officer do prior to establishing
such a contract? - correct answer- Obtain approval from the GSA
Federal Supply Service
AND VERIFIED ANSWERS; 100%
CORRECT; GRADE A
A cash fund of fixed amount established by an advance of funds, for
disbursement in cash for relatively small amounts is called what? -
correct answer- Imprest Fund
A contractor has made an invention under a Federal research and
development contract. In which of the following cases may the
contractor be required to assign title to the invention to the
Government? - correct answer- The contractor does not have a
place of business in the United States
A contractor infringes on a copyright with the authorization of the
Government. What remedy is available to the copyright holder? -
correct answer- A suit for monetary damages against the Government
in the Court of Federal Claims
A contractor under a construction contract provides the Government
with a quantity of unit-priced items other than the quantity called for.
Can the Government or the contractor demand an adjustment in the
contract price? - correct answer- Yes, if the variation exceeds plus or
minus 15 percent of the expected quantity
, 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. Which of the following is true? - correct answer-
The prime contractor and the subcontractor are subject to civil and
criminal penalties
A failure in estimating, accumulating, or reporting costs to comply with
applicable cost accounting standards is called what? - correct answer-
Noncompliance
Drawings submitted by a contractor to show the construction of a
particular structure as actually completed under the contract are called
what? - correct answer- Record Drawings
Except for copyrighted works, what rights does the Government acquire
in data first produced in the performance of a contract? - correct
answer- Unlimited rights
Except with the approval of the head of the agency, in which of the
following cases shall a contract for construction of a project not be
awarded? - correct answer- The offeror is the firm that designed the
project
For agencies delegated authority to establish new Federal Supply
Schedules, what must the contracting officer do prior to establishing
such a contract? - correct answer- Obtain approval from the GSA
Federal Supply Service
