PATHWAY TO EXCELLENCE
CFCM Prep Questions 2024/2025 Questions with Answers
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, PATHWAY TO EXCELLENCE
CFCM Prep Questions 2024/2025 Questions with Answers
100% CORRECT
Exchanges of information among all interested parties are encouraged - Answer ✓✓
from the earliest identification of a requirement through receipt of proposals
FAR Part 24. Protection of Privacy and Freedom of Information. The Freedom of Info
Act provides that info is to be made available to the public - Answer ✓✓upon request,
providing a copy of a reasonably described record
FAR Part 6, "Competition Requirements," applies to which of the following? - Answer ✓
✓A $1M contract for services
Federal agencies shall advance sustainable acquisition by ensuring that __ % of new
contract actions for the supply of products and for the acquisition of services (including
construction) require that the products are energy-efficient, water-efficient, biobased,
environmentally preferable, non-ozone depleting, or made with recovered matericals -
Answer ✓✓95
__ may be used for emergency acquisitions when contract performance must begin
immediately - Answer ✓✓letter contracts
____ is any money, fee, commission, credit, gift, gratuity, thing of value, or
compensation of any kind which is provided directly or indirectly, to any prime
contractor, prime contractor employee, subcontractor, or subcontractor employee for the
purpose of improperly obtaining or rewarding favorable treatment in connection with a
prime contractor in connection with a subcontract relating to a prime contract - Answer
✓✓Kickback
"Effective Date" means - Answer ✓✓For a solicitation amendment, change order, or
administrate change, it is the issue date
A cash fund of a fixed amount established by an advance of funds, without charge to an
appropriate, from an agency finance or disbursing officer to a duly appointed cashier for
disbursement as needed from time to time in making a payment in case for relatively
small purchases is an - Answer ✓✓impreset fund
A certificate of current cost or pricing data - Answer ✓✓does not constitute a
representation as to the accuracy of the contractor's judgement on the estimate of future
costs or projections
A CO's decision not to set aside an acquisition for a HUBZONE small business or
SDVOSB concerns when it is at or below the simplified acquisition threshold - Answer
✓✓is not subject to review under FAR 19.4
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A contract should not normally be terminated for convince but would be permitted to run
a completion when the price of the undelivered balance of the contract is less than -
Answer ✓✓$5,000
A contract that provides for upward and downward revision of the stated contract price
upon the occurrence of specified contingencies is referred to as - Answer ✓✓fixed
price contract with economic price adjustment
The __ authorizes agencies to enter into agreements to obtain supplies or services from
another agency - Answer ✓✓Economy Act
The Buy American statute (Act) restricts the purchase of supplies that are NOT -
Answer ✓✓domestic end products
The CO shall consider all protests and seek legal advice - Answer ✓✓whether protests
are submitted before or after award and whether filed directly with the GAO, the US
Court of Claims, or the agency
The CO shall set aside a portion of an acquisition, except for construction, for exclusive
small business participation when - Answer ✓✓the requirement is severable into 2 or
more economic production runs
A contract with a corporation shall be signed by - Answer ✓✓in the corporate name,
followed by the word "by" and the signature and title of the person authorized to sign
A contractor auditor is responsible for - Answer ✓✓submitting info and advice to the
requesting activity on contractors accounting records and financial and cost control
system
A contractor is awarded 4 separate contracts on the same day.
- One contract is rated "DO" and has a final delivery date (FDD) in 60 days
- One is rated "DX" and has an FDD in 40 days
- One is "DO" and has FDD in 10 days
- One is unrated and has an FDD in 15 days.
What is the order of priority - Answer ✓✓1. DX
2. Both DO's have same priority
3. Unrated
A contractor's arrangements to pay contingent fees for soliciting government contracts
have long been considered contrary to public policy because - Answer ✓✓they may
lead to exercise of improper influence
A cost is reasonable if, in its nature and amount, it does not exceed that which would be
- Answer ✓✓incurred by a purdent person in the conduct of competitive business
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A cost-reimbursement contract that provides for an initially negotiated fee to be adjusted
later by a formula based on the relationship of total allowable costs to total target costs
is known as a - Answer ✓✓cost-plus incentive fee contract
A form of written approval signed by an authorized official that is required by statute or
regulation as a prerequisite to taking certain contract actionsi s defined as a - Answer ✓
✓determination and findings
A latent defect is a defect - Answer ✓✓that exists at the time of acceptance and cannot
be discovered by a reasonable inspection
A negotiated contract is - Answer ✓✓awarded after using other than sealed bidding
procedures
A person holding himself out to the general public to provide transportation for
compensation is a - Answer ✓✓a common carrier
A personal services contract is characterized by - Answer ✓✓the employer-employee
relationship it creates between the gov and the contractor's personnel
A pre-bid conference is never to be used for - Answer ✓✓substituting an amendment
for an ambiguous invitation
*Should be for answering industrys questions, explaining requirements, and conducting
market research
A proposal may be withdrawn - Answer ✓✓by written notice at any time before award
A protest based upon improprieties in a solicitation must be filed before bid opening or
the closing date for receipt of proposals. In all other cases, protests must be filed -
Answer ✓✓within 10 calendar days of the time the protester knew or should have
known of the basis of the protest, whichever is earlier
A protest concerning small business representation - Answer ✓✓may be considered
timely if made orally and confirmed in writing withing a 5 day period
A qualification requirement is a government requirement for - Answer ✓✓testing or
other quality assurance demonstration that must be completed before award
A system whereby the contracting officer receives authorization from a fiscal and
accounting officer to obligate funds purchased documents against a specified lump sum
of funds reserved for a specified time rather than obtaining individual obligation authority
on each purchase document is - Answer ✓✓bulk funding
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CFCM Prep Questions 2024/2025 Questions with Answers
100% CORRECT
DOWNLOAD TO PASS
, PATHWAY TO EXCELLENCE
CFCM Prep Questions 2024/2025 Questions with Answers
100% CORRECT
Exchanges of information among all interested parties are encouraged - Answer ✓✓
from the earliest identification of a requirement through receipt of proposals
FAR Part 24. Protection of Privacy and Freedom of Information. The Freedom of Info
Act provides that info is to be made available to the public - Answer ✓✓upon request,
providing a copy of a reasonably described record
FAR Part 6, "Competition Requirements," applies to which of the following? - Answer ✓
✓A $1M contract for services
Federal agencies shall advance sustainable acquisition by ensuring that __ % of new
contract actions for the supply of products and for the acquisition of services (including
construction) require that the products are energy-efficient, water-efficient, biobased,
environmentally preferable, non-ozone depleting, or made with recovered matericals -
Answer ✓✓95
__ may be used for emergency acquisitions when contract performance must begin
immediately - Answer ✓✓letter contracts
____ is any money, fee, commission, credit, gift, gratuity, thing of value, or
compensation of any kind which is provided directly or indirectly, to any prime
contractor, prime contractor employee, subcontractor, or subcontractor employee for the
purpose of improperly obtaining or rewarding favorable treatment in connection with a
prime contractor in connection with a subcontract relating to a prime contract - Answer
✓✓Kickback
"Effective Date" means - Answer ✓✓For a solicitation amendment, change order, or
administrate change, it is the issue date
A cash fund of a fixed amount established by an advance of funds, without charge to an
appropriate, from an agency finance or disbursing officer to a duly appointed cashier for
disbursement as needed from time to time in making a payment in case for relatively
small purchases is an - Answer ✓✓impreset fund
A certificate of current cost or pricing data - Answer ✓✓does not constitute a
representation as to the accuracy of the contractor's judgement on the estimate of future
costs or projections
A CO's decision not to set aside an acquisition for a HUBZONE small business or
SDVOSB concerns when it is at or below the simplified acquisition threshold - Answer
✓✓is not subject to review under FAR 19.4
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A contract should not normally be terminated for convince but would be permitted to run
a completion when the price of the undelivered balance of the contract is less than -
Answer ✓✓$5,000
A contract that provides for upward and downward revision of the stated contract price
upon the occurrence of specified contingencies is referred to as - Answer ✓✓fixed
price contract with economic price adjustment
The __ authorizes agencies to enter into agreements to obtain supplies or services from
another agency - Answer ✓✓Economy Act
The Buy American statute (Act) restricts the purchase of supplies that are NOT -
Answer ✓✓domestic end products
The CO shall consider all protests and seek legal advice - Answer ✓✓whether protests
are submitted before or after award and whether filed directly with the GAO, the US
Court of Claims, or the agency
The CO shall set aside a portion of an acquisition, except for construction, for exclusive
small business participation when - Answer ✓✓the requirement is severable into 2 or
more economic production runs
A contract with a corporation shall be signed by - Answer ✓✓in the corporate name,
followed by the word "by" and the signature and title of the person authorized to sign
A contractor auditor is responsible for - Answer ✓✓submitting info and advice to the
requesting activity on contractors accounting records and financial and cost control
system
A contractor is awarded 4 separate contracts on the same day.
- One contract is rated "DO" and has a final delivery date (FDD) in 60 days
- One is rated "DX" and has an FDD in 40 days
- One is "DO" and has FDD in 10 days
- One is unrated and has an FDD in 15 days.
What is the order of priority - Answer ✓✓1. DX
2. Both DO's have same priority
3. Unrated
A contractor's arrangements to pay contingent fees for soliciting government contracts
have long been considered contrary to public policy because - Answer ✓✓they may
lead to exercise of improper influence
A cost is reasonable if, in its nature and amount, it does not exceed that which would be
- Answer ✓✓incurred by a purdent person in the conduct of competitive business
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A cost-reimbursement contract that provides for an initially negotiated fee to be adjusted
later by a formula based on the relationship of total allowable costs to total target costs
is known as a - Answer ✓✓cost-plus incentive fee contract
A form of written approval signed by an authorized official that is required by statute or
regulation as a prerequisite to taking certain contract actionsi s defined as a - Answer ✓
✓determination and findings
A latent defect is a defect - Answer ✓✓that exists at the time of acceptance and cannot
be discovered by a reasonable inspection
A negotiated contract is - Answer ✓✓awarded after using other than sealed bidding
procedures
A person holding himself out to the general public to provide transportation for
compensation is a - Answer ✓✓a common carrier
A personal services contract is characterized by - Answer ✓✓the employer-employee
relationship it creates between the gov and the contractor's personnel
A pre-bid conference is never to be used for - Answer ✓✓substituting an amendment
for an ambiguous invitation
*Should be for answering industrys questions, explaining requirements, and conducting
market research
A proposal may be withdrawn - Answer ✓✓by written notice at any time before award
A protest based upon improprieties in a solicitation must be filed before bid opening or
the closing date for receipt of proposals. In all other cases, protests must be filed -
Answer ✓✓within 10 calendar days of the time the protester knew or should have
known of the basis of the protest, whichever is earlier
A protest concerning small business representation - Answer ✓✓may be considered
timely if made orally and confirmed in writing withing a 5 day period
A qualification requirement is a government requirement for - Answer ✓✓testing or
other quality assurance demonstration that must be completed before award
A system whereby the contracting officer receives authorization from a fiscal and
accounting officer to obligate funds purchased documents against a specified lump sum
of funds reserved for a specified time rather than obtaining individual obligation authority
on each purchase document is - Answer ✓✓bulk funding
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