CFCM EXAM PRACTICE TEST QUESTIONS AND
VERIFIED ANSWERS; GET IT 100% ACCURATE
____________ are used by the government to promote early exchanges
of information with industry. - correct answer- Requests for
Information (RFI)
______________ means the lead agency responsible for managing,
administering, or monitoring overall use of the FFRDC under a multiple
sponsorship agreement. - correct answer- Primary Sponsor
A ___________ is the process of reviewing and evaluating individual cost
elements of an offeror's proposal. - correct answer- Cost Analysis
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 contract for demolition of a public building, without any further
construction work, is subject to which of the following? - correct
answer- Only the Service Contract Labor Standards statute
A contract that is awarded using other than sealed bidding procedures is
what? - correct answer- A negotiated contract
,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- FAR 27.201-1(a): "Pursuant to 28 U.S.C. 1498, the
exclusive remedy for patent or copyright infringement by or on behalf of
the Government is a suit for monetary damages against the Government
in the Court of Federal Claims. There is no injunctive relief available, and
there is no direct cause of action against a contractor that is infringing a
patent or copyright with the authorization or consent of the
Government (e.g., while performing a contract)."
A contractor receives a refund relating to an allowable cost. What shall
the contractor do with the applicable portion of the refund? - correct
answer- The contractor may credit it to the Government either as a
cost reduction or a cash refund
A contractor transfers its right to be paid by the Government for
contract performance to a trust company. What is this called? - correct
answer- Assignment of a claim
, 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 contractor's arrangement to pay contingent fees for soliciting or
obtaining Government contracts is considered contrary to public policy.
Which of the following statements explains why? - correct answer-
Such arrangements may lead to attempted or actual exercise of
improper influence
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? - correct answer- The
prime contractor and the subcontractor are subject to civil and criminal
penalties
A Department of Commerce regulation in support of approved national
defense, emergency preparedness, and energy programs is known as the
- correct answer- Defense Priorities and Allocation System.
A failure in estimating, accumulating, or reporting costs to comply with
applicable cost accounting standards is called what? - correct answer-
Noncompliance
VERIFIED ANSWERS; GET IT 100% ACCURATE
____________ are used by the government to promote early exchanges
of information with industry. - correct answer- Requests for
Information (RFI)
______________ means the lead agency responsible for managing,
administering, or monitoring overall use of the FFRDC under a multiple
sponsorship agreement. - correct answer- Primary Sponsor
A ___________ is the process of reviewing and evaluating individual cost
elements of an offeror's proposal. - correct answer- Cost Analysis
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 contract for demolition of a public building, without any further
construction work, is subject to which of the following? - correct
answer- Only the Service Contract Labor Standards statute
A contract that is awarded using other than sealed bidding procedures is
what? - correct answer- A negotiated contract
,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- FAR 27.201-1(a): "Pursuant to 28 U.S.C. 1498, the
exclusive remedy for patent or copyright infringement by or on behalf of
the Government is a suit for monetary damages against the Government
in the Court of Federal Claims. There is no injunctive relief available, and
there is no direct cause of action against a contractor that is infringing a
patent or copyright with the authorization or consent of the
Government (e.g., while performing a contract)."
A contractor receives a refund relating to an allowable cost. What shall
the contractor do with the applicable portion of the refund? - correct
answer- The contractor may credit it to the Government either as a
cost reduction or a cash refund
A contractor transfers its right to be paid by the Government for
contract performance to a trust company. What is this called? - correct
answer- Assignment of a claim
, 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 contractor's arrangement to pay contingent fees for soliciting or
obtaining Government contracts is considered contrary to public policy.
Which of the following statements explains why? - correct answer-
Such arrangements may lead to attempted or actual exercise of
improper influence
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? - correct answer- The
prime contractor and the subcontractor are subject to civil and criminal
penalties
A Department of Commerce regulation in support of approved national
defense, emergency preparedness, and energy programs is known as the
- correct answer- Defense Priorities and Allocation System.
A failure in estimating, accumulating, or reporting costs to comply with
applicable cost accounting standards is called what? - correct answer-
Noncompliance
