CFCM PRACTICE EXAM Latest
Questions & Verified Answers
1. What is a Certificate of Competency?
A. A certificate issued by the SBA stating that the holder is responsible for
receiving and performing a specific government contract.
Correct Answer: A
Explanation: A Certificate of Competency (COC) is issued by the Small Business
Administration (SBA) to certify that a small business is responsible and capable of
performing a particular government contract.
2. Which law specifies how agencies shall make their records available upon
public request, imposes strict response time standards, and exempts certain
records from disclosure?
A. Freedom of Information Act (FOIA)
Correct Answer: A
Explanation: The FOIA mandates agencies to provide public access to records
unless they are exempted, and sets response time standards.
3. Which of the following is NOT a required element in a Broad Agency
Announcement (BAA)?
A. An estimate of the level of effort required
B. A description of the agency's research interest
C. The criteria by which proposals will be selected
D. The period during which proposals will be accepted
Correct Answer: A
, Explanation: A BAA typically includes the research interests, selection criteria, and
submission period, but not an estimate of effort.
4. Under which condition may a contractor be required to assign title of an
invention made under a federal research and development contract to the
government?
A. The contractor does not have a place of business in the United States.
Correct Answer: A
Explanation: If the contractor does not meet specific criteria, such as being U.S.-
based, they may be required to assign inventions.
5. Which contract type is generally used to acquire construction?
A. Firm-fixed-price
Correct Answer: A
Explanation: Construction projects are typically acquired using firm-fixed-price
contracts to provide price certainty.
6. Which FAR part specifies definitions for words and terms used throughout FAR
unless another part provides a different definition?
A. FAR Part 2
Correct Answer: A
Explanation: FAR Part 2 contains general definitions applicable across FAR.
7. Which statement best describes the role of the Acquisition Team?
A. The policies and procedures used by team members are outlined in FAR.
Correct Answer: A
Questions & Verified Answers
1. What is a Certificate of Competency?
A. A certificate issued by the SBA stating that the holder is responsible for
receiving and performing a specific government contract.
Correct Answer: A
Explanation: A Certificate of Competency (COC) is issued by the Small Business
Administration (SBA) to certify that a small business is responsible and capable of
performing a particular government contract.
2. Which law specifies how agencies shall make their records available upon
public request, imposes strict response time standards, and exempts certain
records from disclosure?
A. Freedom of Information Act (FOIA)
Correct Answer: A
Explanation: The FOIA mandates agencies to provide public access to records
unless they are exempted, and sets response time standards.
3. Which of the following is NOT a required element in a Broad Agency
Announcement (BAA)?
A. An estimate of the level of effort required
B. A description of the agency's research interest
C. The criteria by which proposals will be selected
D. The period during which proposals will be accepted
Correct Answer: A
, Explanation: A BAA typically includes the research interests, selection criteria, and
submission period, but not an estimate of effort.
4. Under which condition may a contractor be required to assign title of an
invention made under a federal research and development contract to the
government?
A. The contractor does not have a place of business in the United States.
Correct Answer: A
Explanation: If the contractor does not meet specific criteria, such as being U.S.-
based, they may be required to assign inventions.
5. Which contract type is generally used to acquire construction?
A. Firm-fixed-price
Correct Answer: A
Explanation: Construction projects are typically acquired using firm-fixed-price
contracts to provide price certainty.
6. Which FAR part specifies definitions for words and terms used throughout FAR
unless another part provides a different definition?
A. FAR Part 2
Correct Answer: A
Explanation: FAR Part 2 contains general definitions applicable across FAR.
7. Which statement best describes the role of the Acquisition Team?
A. The policies and procedures used by team members are outlined in FAR.
Correct Answer: A
