Certified Federal Contracts Manager
(CFCM) Exam Questions & Answers
1.A cost is reasonable if, in its nature and amount, it does not exceed
ANS that which would be incurred by a prudent person in the conduct of
competitive business.
2.Advance Agreements should not be negotiated
ANS 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?-
ANS The contract specifies payments aggregating $100,000 or more.
4.Individuals delegated micro-purchase authority do not need to be
ANS appointed in an SF 1402
5.Advisory and assistance services are classified in all of the following
sub- divisions except
ANS construction.
6.A foreign end product may be purchased under the Buy American Act if
,ANS 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
be- come subject to the Service Contract Act is
ANS $2,500
8.Which of the following examples is considered to be an inherently
govern- mental function?
ANS approving contractual documents
9.If market research indicates commercial or non-developmental items
might not be available to satisfy agency needs, agencies shall next
ANS
determine whether the need can be restated to permit commercial or
non-developmental items to satisfy the agency's needs.
10.Which is NOT one of the seven exceptions to full and open competition?-
ANS Approval 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
,ANS not later than the date of the contract.
12.Liquidated damages are typically assessed
ANS per calendar day.
13.Cost Accounting Standards apply to commercial item contracts when
they are
ANS fixed price with economic price adjustment based on actual costs.
14.An indefinite-quantity contract is best used when
ANS
a recurring need is anticipated
15. is a Department of Commerce regulation in
support of approved national defense, emergency preparedness, and
energy programs, and the Secretary of Commerce is designated to
administer it.
ANS Defense Priorities and Allocations System
16.Under Sealed Bidding, a bid sample will be used to
ANS
determine responsive- ness 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?
, ANS cost plus fixed fee
18.According to FAR 13.003, Policy for Simplified Acquisition Procedures,
which of the following is correct?
ANS 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?
ANS Price or cost to the government
20.In what FAR Part will you find rules and policy on foreign acquisitions
ANS -
FAR Part 25
21.The Miller Act requires
ANS
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?
ANS Requirements contract.
23.A termination for convenience should not normally be issued if the
(CFCM) Exam Questions & Answers
1.A cost is reasonable if, in its nature and amount, it does not exceed
ANS that which would be incurred by a prudent person in the conduct of
competitive business.
2.Advance Agreements should not be negotiated
ANS 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?-
ANS The contract specifies payments aggregating $100,000 or more.
4.Individuals delegated micro-purchase authority do not need to be
ANS appointed in an SF 1402
5.Advisory and assistance services are classified in all of the following
sub- divisions except
ANS construction.
6.A foreign end product may be purchased under the Buy American Act if
,ANS 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
be- come subject to the Service Contract Act is
ANS $2,500
8.Which of the following examples is considered to be an inherently
govern- mental function?
ANS approving contractual documents
9.If market research indicates commercial or non-developmental items
might not be available to satisfy agency needs, agencies shall next
ANS
determine whether the need can be restated to permit commercial or
non-developmental items to satisfy the agency's needs.
10.Which is NOT one of the seven exceptions to full and open competition?-
ANS Approval 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
,ANS not later than the date of the contract.
12.Liquidated damages are typically assessed
ANS per calendar day.
13.Cost Accounting Standards apply to commercial item contracts when
they are
ANS fixed price with economic price adjustment based on actual costs.
14.An indefinite-quantity contract is best used when
ANS
a recurring need is anticipated
15. is a Department of Commerce regulation in
support of approved national defense, emergency preparedness, and
energy programs, and the Secretary of Commerce is designated to
administer it.
ANS Defense Priorities and Allocations System
16.Under Sealed Bidding, a bid sample will be used to
ANS
determine responsive- ness 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?
, ANS cost plus fixed fee
18.According to FAR 13.003, Policy for Simplified Acquisition Procedures,
which of the following is correct?
ANS 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?
ANS Price or cost to the government
20.In what FAR Part will you find rules and policy on foreign acquisitions
ANS -
FAR Part 25
21.The Miller Act requires
ANS
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?
ANS Requirements contract.
23.A termination for convenience should not normally be issued if the
