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CFCM Exam Prep | Questions with 100% Correct Answers | Updated 2024 | Guaranteed A+ How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? (a) Annually (b) Bi-annually (c) Every five years (d) Only as required - (c) Every five years

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CFCM Prep Questions based on NCMA CFCM Study Guide and NCMA Practice Test

What is the FAR system? - for acquisitions by all executive branches What is the FAR system? - The FAR and all agency acquisition regulations that implement or supplement the FAR What is the vision for federal acquisition? Timely $PS Policy and Trust - deliver on a timely basis the best value product or service to the customer, while maintaining the public's trust and fulfilling public policy objectives FAR 1.102(a) What are the guiding principles? CQT for the PS - Satisfy the c...

CFCM Exam Practice Test What is a Certificate of Competency - A certificate issued by the SBA stating that the holder is responsible for the purpose of receiving and performing a specific Government contract Except as specifically permitted by executive agencies, the fast payment procedure may not be used for individual purchasing instruments exceeding what amount? - $35,000 What can a contractor access online at ? - The government wide point of entry Size Standards - FAR 19.102(b...

The FAR is prepared, issued, and maintained by: a. The Executive Office of the President. b. The Office of Management and Budget and the General Services Administration. c. The National Contract Management Association. d. The Secretary of Defense, the Administrator of General Services, and the Administrator of the National Aeronautics and Space Administration. correct answer: d. The Secretary of Defense, the Administrator of General Services, and the Administrator of the National Aeronauti...

CFCM Study Guide: FULL TEST Which of the following statements is NOT true? a. The government encourages the maximum practicable commercial use of inventions made under government contracts. b. The government recognizes rights in data developed at private expense, and limits its demands for delivery of that data. c. The government requires that contractors obtain permission from copyright owners before including copyrighted works, owned by others, in data to be delivered to the governm...

CFCM Practice Test Questions and Answers Latest Updated 2024/2025 (100% Solved) 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 Contracting officers below the level of ___ shall be selected and appointed - answer-a head of a contracting activity According to the FAR conventions at Subpart 1.1, each authority is delegable unless - a...

CFCM- Part 1, 2, 3, 4, 5, 7, 10, 11, and 23 Exams with correct answers 2024 Who does the FAR apply to? - answer-all executive agencies

CFCM Prep Questions and Answers Latest Updated 2024/2025 (100%Solved). How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? (a) Annually (b) Bi-annually (c) Every five years (d) Only as required - Correct Answer-(c) Every five years (FAR 1.109) A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actions is defined as: (a) A ratification (b) Determi...