CFCM EXAM 2025 QUESTIONS WITH 100% VERIFIED SOLUTIONS
In what FAR Part will you find rules and policy on foreign acquisitions? - ANSWER - Part 25
Contractors' arrangements to pay contingent fees for soliciting or obtaining Government contracts
have long been considered contrary to public policy because: - ANSWER - Such arrangements may
lead to attempted or actual exercise of improper influence.
A special form of written approval by an authorized official that is required by statute or regulation
as a prerequisite to taking certain contract actions is called - ANSWER - Determination and Findings
When a mistake in a contractor's bid is not discovered until after award, the mistake may be
corrected by contract modification if... - ANSWER - correcting the mistake would be favorable to the
Government without changing the essential requirements of the specifications.
These are limited exchanges between the Government and offerors, that may occur when award
without discussions is contemplated: - ANSWER - Clarifications
During source selection it is an acceptable practice to: - ANSWER - inform an offeror that its price is
considered too high.
A system whereby the contracting officer receives authorization from a fiscal and accounting officer
to obligate funds on purchase documents against a specified lump sum of funds reserved for the
purpose for a specified period of time rather than obtaining individual obligation authority on each
purchase document is - ANSWER - bulk funding.
What term is described by the following: The process by which efforts of all personnel responsible
for an acquisition are coordinated and integrated through a comprehensive plan for fulfilling the
agency need in a timely manner at a reasonable cost. It includes developing the overall strategy for
managing the acquisition - ANSWER - Acquisition Planning
Except for the acquisition of commercial items, agencies shall allow at least days response time for
receipt of bids or proposals from the date of issuance of a solicitation, if the contract action is
expected to exceed the simplified acquisition threshold. - ANSWER - 30 days
Government contracts personnel may use liquidated damages clauses only when - ANSWER - time
for delivery or performance is critical.
, CFCM EXAM 2025 QUESTIONS WITH 100% VERIFIED SOLUTIONS
What statute prohibits federal employees from creating or authorizing an obligation in excess of
funds available or in advance of appropriations? - ANSWER - Anti-Deficiency Act
Simplified acquisition methods include the following except: - ANSWER - Advance agreements
When Conducting Market Research, Agencies should request potential sources to submit: - ANSWER
- generally only the minimum amount of information necessary.
What is the minimum quantity that must be ordered under an Indefinite Delivery Indefinite Quantity
(IDIQ) Contract? - ANSWER - The minimum quantity must be more than a nominal quantity, but it
should not exceed the amount that the Government is fairly certain to order.
Which of the following contract types places the most cost risk on the Buyer: - ANSWER - Cost Plus
Fixed Fee
Which of the following is NOT a reason to contract for Advisory and Assistance services? - ANSWER -
Obtain work of a policy, decision-making, or managerial nature which is the direct responsibility of
agency officials
Which of the following contract types is prohibited by the Federal Acquisition Regulation for federal
agencies and prime contractors? - ANSWER - cost-plus-a-percentage-of-cost
The Contract Disputes statute covers - ANSWER - claims by a contractor against the Government.
Performance-based contracts - ANSWER - use measurable performance standards and quality
assurance surveillance plans.
Options for increased quantities of supplies/services may NOT be expressed in terms of - ANSWER -
a range of quantities for various line items.
Solicitations for commercial items shall require offerors to offer the Government - ANSWER - the
same warranty terms offered to the general public.
, CFCM EXAM 2025 QUESTIONS WITH 100% VERIFIED SOLUTIONS
_______________ contracts are characterized by the employer-employee relationship it creates
between the Government and the contractor's personnel. - ANSWER - Personal services
When the time of delivery or timely performance is so important that the Government may
reasonably expect to suffer damage if the delivery or performance is delinquent; and the extent or
amount of such damage would be difficult or impossible to estimate accurately or prove, then what
type of assessment may occur? - ANSWER - Liquidated damages
Which response best describes a letter contract? - ANSWER - Normally a brief, written preliminary
contractual instrument that authorizes a contractor to begin performance immediately.
What should the Contracting Officer describe in a performance work statement for a performance-
based acquisition,? - ANSWER - The work in terms of the required results.
The government's preferred remedy when terminating a contract for a commercial item for cause
will be - ANSWER - to acquire similar items from another contractor and to charge the defaulted
contractor with any excess reprocurement costs.
In terms of being a responsible government contractor, any prime contractor that provides
Government property to a subcontractor... - ANSWER - is still responsible for the property in
accordance with the terms of the prime contract.
Submitting an offer below anticipated costs and expecting to increase the contract amount after
award, is called: - ANSWER - Buying-in
Cost or pricing data means... - ANSWER - all facts that, as of the date of price agreement, or, if
applicable, an earlier date agreed upon between the parties that is as close as practicable to the
date of agreement on price, prudent buyers and sellers would reasonably expect to affect price
negotiations significantly.
When providing financing to a contractor, which of the following is the LEAST preferred method: -
ANSWER - Advance payments
What law specifies that no laborer or mechanic doing any part of the work contemplated by the
contract shall be required or permitted to work more than 40 hours in any work week unless paid for
all additional hours at not less than 1 ½ times the basic rate? - ANSWER - Contract Work Hours and
Safety Standards Act.
In what FAR Part will you find rules and policy on foreign acquisitions? - ANSWER - Part 25
Contractors' arrangements to pay contingent fees for soliciting or obtaining Government contracts
have long been considered contrary to public policy because: - ANSWER - Such arrangements may
lead to attempted or actual exercise of improper influence.
A special form of written approval by an authorized official that is required by statute or regulation
as a prerequisite to taking certain contract actions is called - ANSWER - Determination and Findings
When a mistake in a contractor's bid is not discovered until after award, the mistake may be
corrected by contract modification if... - ANSWER - correcting the mistake would be favorable to the
Government without changing the essential requirements of the specifications.
These are limited exchanges between the Government and offerors, that may occur when award
without discussions is contemplated: - ANSWER - Clarifications
During source selection it is an acceptable practice to: - ANSWER - inform an offeror that its price is
considered too high.
A system whereby the contracting officer receives authorization from a fiscal and accounting officer
to obligate funds on purchase documents against a specified lump sum of funds reserved for the
purpose for a specified period of time rather than obtaining individual obligation authority on each
purchase document is - ANSWER - bulk funding.
What term is described by the following: The process by which efforts of all personnel responsible
for an acquisition are coordinated and integrated through a comprehensive plan for fulfilling the
agency need in a timely manner at a reasonable cost. It includes developing the overall strategy for
managing the acquisition - ANSWER - Acquisition Planning
Except for the acquisition of commercial items, agencies shall allow at least days response time for
receipt of bids or proposals from the date of issuance of a solicitation, if the contract action is
expected to exceed the simplified acquisition threshold. - ANSWER - 30 days
Government contracts personnel may use liquidated damages clauses only when - ANSWER - time
for delivery or performance is critical.
, CFCM EXAM 2025 QUESTIONS WITH 100% VERIFIED SOLUTIONS
What statute prohibits federal employees from creating or authorizing an obligation in excess of
funds available or in advance of appropriations? - ANSWER - Anti-Deficiency Act
Simplified acquisition methods include the following except: - ANSWER - Advance agreements
When Conducting Market Research, Agencies should request potential sources to submit: - ANSWER
- generally only the minimum amount of information necessary.
What is the minimum quantity that must be ordered under an Indefinite Delivery Indefinite Quantity
(IDIQ) Contract? - ANSWER - The minimum quantity must be more than a nominal quantity, but it
should not exceed the amount that the Government is fairly certain to order.
Which of the following contract types places the most cost risk on the Buyer: - ANSWER - Cost Plus
Fixed Fee
Which of the following is NOT a reason to contract for Advisory and Assistance services? - ANSWER -
Obtain work of a policy, decision-making, or managerial nature which is the direct responsibility of
agency officials
Which of the following contract types is prohibited by the Federal Acquisition Regulation for federal
agencies and prime contractors? - ANSWER - cost-plus-a-percentage-of-cost
The Contract Disputes statute covers - ANSWER - claims by a contractor against the Government.
Performance-based contracts - ANSWER - use measurable performance standards and quality
assurance surveillance plans.
Options for increased quantities of supplies/services may NOT be expressed in terms of - ANSWER -
a range of quantities for various line items.
Solicitations for commercial items shall require offerors to offer the Government - ANSWER - the
same warranty terms offered to the general public.
, CFCM EXAM 2025 QUESTIONS WITH 100% VERIFIED SOLUTIONS
_______________ contracts are characterized by the employer-employee relationship it creates
between the Government and the contractor's personnel. - ANSWER - Personal services
When the time of delivery or timely performance is so important that the Government may
reasonably expect to suffer damage if the delivery or performance is delinquent; and the extent or
amount of such damage would be difficult or impossible to estimate accurately or prove, then what
type of assessment may occur? - ANSWER - Liquidated damages
Which response best describes a letter contract? - ANSWER - Normally a brief, written preliminary
contractual instrument that authorizes a contractor to begin performance immediately.
What should the Contracting Officer describe in a performance work statement for a performance-
based acquisition,? - ANSWER - The work in terms of the required results.
The government's preferred remedy when terminating a contract for a commercial item for cause
will be - ANSWER - to acquire similar items from another contractor and to charge the defaulted
contractor with any excess reprocurement costs.
In terms of being a responsible government contractor, any prime contractor that provides
Government property to a subcontractor... - ANSWER - is still responsible for the property in
accordance with the terms of the prime contract.
Submitting an offer below anticipated costs and expecting to increase the contract amount after
award, is called: - ANSWER - Buying-in
Cost or pricing data means... - ANSWER - all facts that, as of the date of price agreement, or, if
applicable, an earlier date agreed upon between the parties that is as close as practicable to the
date of agreement on price, prudent buyers and sellers would reasonably expect to affect price
negotiations significantly.
When providing financing to a contractor, which of the following is the LEAST preferred method: -
ANSWER - Advance payments
What law specifies that no laborer or mechanic doing any part of the work contemplated by the
contract shall be required or permitted to work more than 40 hours in any work week unless paid for
all additional hours at not less than 1 ½ times the basic rate? - ANSWER - Contract Work Hours and
Safety Standards Act.
