CFCM – FINAL EXAM REVIEW QUESTIONS &
ANSWERS 100% CORRECT (FULLY SOLVED)
"Effective date" means the following for a supplemental agreement:
a. it is the date specified by the offeror in its proposal
b. for a supplemental agreement, it is the date set by the contracting
officer
c. for modification issued as a confirming notice of termination for the
convenience of the government, it is the same as the effective date of
the initial award of the contract.
d. date agreed upon by the contracting parties - correct answer- D
"Effective date" means the following for confirming a previous letter
determination of an amount due in a termination for convenience:
a. it is the date specified by the offeror in its proposal
b. effective as of the effective date of the previous letter determination
c. it is the same as the effective date of the initial notice of termination
d. date agreed upon by the contracting parties - correct answer- B
"Effective date" means the following for confirming notice of
termination for convenience:
a. it is the date specified by the offeror in its proposal
,b. for a supplemental agreement, it is the date set by the contracting
officer
c. it is the same as the effective date of the initial notice of termination
d. date agreed upon by the contracting parties - correct answer- C
"Effective date" means the following for converting a termination for
default into a termination for convenience:
a. it is the date specified by the offeror in its proposal
b. effective as of the effective date of the termination for default
c. it is the same as the effective date of the initial notice of termination
d. date agreed upon by the contracting parties - correct answer- B
"Effective date" means the following:
a. it is the date specified by the offeror in its proposal
b. for a supplemental agreement, it is the date set by the contracting
officer
c. for modification issued as a confirming notice of termination for the
convenience of the government, it is the same as the effective date of
the initial award of the contract.
d. for a solicitation amendment, change order, or administrative change,
it is the issue date - correct answer- D
A contractor infringes on a copyright with the authorization of the
Government. What remedy is available to the copyright holder?
,a. A suit for monetary damages against the Government in the Court of
Federal Claims
b. An injunction against the Government, prohibiting use of the
copyrighted material
c. A suit for monetary damages against the contractor in a Federal court
d. No relief is available to the copyright holder - correct answer- A
A contractor transfers its right to be paid by the Government for
contract performance to a trust company. What is this called?
a. Novation
b. Refinancing agreement
c. Assignment of a claim
d. Charging off - correct answer- C
A legal instrument in which a contractor guarantees performance of the
contract, the obligations under the contract are assumed by a successor
in interest, and the government recognizes the transfer of the contract
and related assets is called what?
a. Assignment
b. Change-of-name agreement
c. Transfer agreement
d. Novation agreement - correct answer- D
, ABC Construction Company has been awarded a federal government
contract to build a new community center. The project involves various
subcontractors and suppliers who will contribute to different aspects of
the construction. To comply with FAR Part 28.103-3, ABC Construction
Company is required to obtain a payment bond. How does the payment
bond in accordance with FAR Part 28.103-3 benefit the subcontractors
and suppliers in the scenario?
a. It guarantees that the government will cover any cost overruns in the
project.
b. It assures payments as required by law to all persons supplying labor
or material in the prosecution of the work provided for in the contract.
c. It secures performance and fulfillment of the contractor's obligations
under the contract.
d. It allows subcontractors and suppliers to take over the project if the
prime contractor faces delays. - correct answer- B
According to FAR Part 11.502 Procedures, what must be included in
construction contracts with liquidated damages provisions?
a. The liquidated damages clause should specify the specific milestones
for the assessment of liquidated damages.
b. The liquidated damages clause should outline the consequences of
non-payment of liquidated damages.
c. The liquidated damages clause will include a provision for extending
the contract completion date.
d. The liquidated damages clause must describe the rate(s) of liquidated
damages assessed per day of delay, including the estimated daily cost of
ANSWERS 100% CORRECT (FULLY SOLVED)
"Effective date" means the following for a supplemental agreement:
a. it is the date specified by the offeror in its proposal
b. for a supplemental agreement, it is the date set by the contracting
officer
c. for modification issued as a confirming notice of termination for the
convenience of the government, it is the same as the effective date of
the initial award of the contract.
d. date agreed upon by the contracting parties - correct answer- D
"Effective date" means the following for confirming a previous letter
determination of an amount due in a termination for convenience:
a. it is the date specified by the offeror in its proposal
b. effective as of the effective date of the previous letter determination
c. it is the same as the effective date of the initial notice of termination
d. date agreed upon by the contracting parties - correct answer- B
"Effective date" means the following for confirming notice of
termination for convenience:
a. it is the date specified by the offeror in its proposal
,b. for a supplemental agreement, it is the date set by the contracting
officer
c. it is the same as the effective date of the initial notice of termination
d. date agreed upon by the contracting parties - correct answer- C
"Effective date" means the following for converting a termination for
default into a termination for convenience:
a. it is the date specified by the offeror in its proposal
b. effective as of the effective date of the termination for default
c. it is the same as the effective date of the initial notice of termination
d. date agreed upon by the contracting parties - correct answer- B
"Effective date" means the following:
a. it is the date specified by the offeror in its proposal
b. for a supplemental agreement, it is the date set by the contracting
officer
c. for modification issued as a confirming notice of termination for the
convenience of the government, it is the same as the effective date of
the initial award of the contract.
d. for a solicitation amendment, change order, or administrative change,
it is the issue date - correct answer- D
A contractor infringes on a copyright with the authorization of the
Government. What remedy is available to the copyright holder?
,a. A suit for monetary damages against the Government in the Court of
Federal Claims
b. An injunction against the Government, prohibiting use of the
copyrighted material
c. A suit for monetary damages against the contractor in a Federal court
d. No relief is available to the copyright holder - correct answer- A
A contractor transfers its right to be paid by the Government for
contract performance to a trust company. What is this called?
a. Novation
b. Refinancing agreement
c. Assignment of a claim
d. Charging off - correct answer- C
A legal instrument in which a contractor guarantees performance of the
contract, the obligations under the contract are assumed by a successor
in interest, and the government recognizes the transfer of the contract
and related assets is called what?
a. Assignment
b. Change-of-name agreement
c. Transfer agreement
d. Novation agreement - correct answer- D
, ABC Construction Company has been awarded a federal government
contract to build a new community center. The project involves various
subcontractors and suppliers who will contribute to different aspects of
the construction. To comply with FAR Part 28.103-3, ABC Construction
Company is required to obtain a payment bond. How does the payment
bond in accordance with FAR Part 28.103-3 benefit the subcontractors
and suppliers in the scenario?
a. It guarantees that the government will cover any cost overruns in the
project.
b. It assures payments as required by law to all persons supplying labor
or material in the prosecution of the work provided for in the contract.
c. It secures performance and fulfillment of the contractor's obligations
under the contract.
d. It allows subcontractors and suppliers to take over the project if the
prime contractor faces delays. - correct answer- B
According to FAR Part 11.502 Procedures, what must be included in
construction contracts with liquidated damages provisions?
a. The liquidated damages clause should specify the specific milestones
for the assessment of liquidated damages.
b. The liquidated damages clause should outline the consequences of
non-payment of liquidated damages.
c. The liquidated damages clause will include a provision for extending
the contract completion date.
d. The liquidated damages clause must describe the rate(s) of liquidated
damages assessed per day of delay, including the estimated daily cost of
