CFCM Study Guide: Full Test Questions with Correct Answers

CFCM Study Guide: Full Test Questions with Correct Answers When fast payment procedures are utilized, who is responsible for determining the amount of debts resulting from failure of contractors to properly replace, repair, or correct supplies lost, damaged, or not conforming to purchase requirements? a. program manager b. contracting officer c. head of the contracting activity d. accounting and finance officer - Answer-b. contracting officer FAR 13.401(b) When cancelling a purchase order, if the contractor accepts the cancellation and does not claim that cost were incurred as a result of beginning performance under the purchase order, then a. no further action is required and the purchase order shall be considered cancelled. b. the contractor receives a cancellation fee equal to 10% of the original purchase order price. c. the contracting officer shall process the termination action d. The contractor is entitled to receive the automatic award of any purchase order for the same item or service generated within 90 days of the cancellation. - Answer-a. no further action is required and the purchase order shall be considered cancelled.