©THESTAR 2025 ALL RIGHTS RESERVED 11:41 AM A+
CFCM Study Guide: FULL TEST Exam
Questions And Answers |Latest 2025 |
Guaranteed Pass.
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 government.
d. Generally, the government will refuse to award a contract on the grounds that the
prospective contractor may infringe a patent. - Answer✔d. Generally, the government will
refuse to award a contract on the grounds that the prospective contractor may infringe a
patent.
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, ©THESTAR 2025 ALL RIGHTS RESERVED 11:41 AM A+
FAR 27.102
Performance and payment bonds are required or may be required for
a. construction contracts and services and supply contracts exceeding $2,000.
b. construction contracts exceeding $150,000.
c. any contract for services,
d. construction contracts exceeding $150,000 and services and supply contracts exceeding the
SAT when necessary to protect the governments interests. - Answer✔d. construction contracts
exceeding $150,000 and services and supply contracts exceeding the SAT when necessary to
protect the governments interests.
FAR 28.102-1(a), 28.103-1(a), 28.103-2(a)
Cost Accounting Standards Board rules and regulations apply to
a. negotiated contracts and subcontracts.
b. sealed bid contracts.
c. contracts with small business concerns.
d. bridge contracts. - Answer✔a. negotiated contracts and subcontracts.
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, ©THESTAR 2025 ALL RIGHTS RESERVED 11:41 AM A+
FAR 30.000
The head of the agency may waive the applicability of Cost Accounting Standards (CAS) for a
particular contract or subcontract when one of these conditions exists:
a. The contract or subcontract is less than $50 million, primarily engaged in the sale of
commercial items, and has no contracts/subcontracts subject to CAS.
b. The contract or subcontract is less than $15 million, primarily engaged in the sale of
commercial items, and has no contracts/subcontracts subject to CAS.
c. The contract or subcontract is less than $7.5 million, primarily engaged in the sale of
commercial items.
d. The contract or subcontract is less than $5 million, primarily engaged in the sale of
commercial items, and has no contracts/subcontracts subject to CAS. - Answer✔b. The contract
or subcontract is less than $15 million, primarily engaged in the sale of commercial items, and
has no contracts/subcontracts subject to CAS.
FAR 30.201-5
Which of the following statements about advance agreements is NOT true?
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, ©THESTAR 2025 ALL RIGHTS RESERVED 11:41 AM A+
a. Advance agreements may only be negotiated with a particular contractor for a single
contract.
b. Advance agreements may be negotiated either before or during a contract.
c. The agreement must be in writing.
d. The agreements must be incorporated into applicable current and future contracts. -
Answer✔a. Advance agreements may only be negotiated with a particular contractor for a
single contract.
FAR 31.109
A cost is reasonable if, in its nature and amount, it does not exceed that which would be
a. incurred by a prudent person in the conduct of competitive business.
b. accrued by a prudent person in the conduct of competitive business.
c. determined to be allowable by the CO.
d. determined to be allocable by the CO. - Answer✔a. incurred by a prudent person in the
conduct of competitive business.
FAR 31.201-3
4|Page
CFCM Study Guide: FULL TEST Exam
Questions And Answers |Latest 2025 |
Guaranteed Pass.
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 government.
d. Generally, the government will refuse to award a contract on the grounds that the
prospective contractor may infringe a patent. - Answer✔d. Generally, the government will
refuse to award a contract on the grounds that the prospective contractor may infringe a
patent.
1|Page
, ©THESTAR 2025 ALL RIGHTS RESERVED 11:41 AM A+
FAR 27.102
Performance and payment bonds are required or may be required for
a. construction contracts and services and supply contracts exceeding $2,000.
b. construction contracts exceeding $150,000.
c. any contract for services,
d. construction contracts exceeding $150,000 and services and supply contracts exceeding the
SAT when necessary to protect the governments interests. - Answer✔d. construction contracts
exceeding $150,000 and services and supply contracts exceeding the SAT when necessary to
protect the governments interests.
FAR 28.102-1(a), 28.103-1(a), 28.103-2(a)
Cost Accounting Standards Board rules and regulations apply to
a. negotiated contracts and subcontracts.
b. sealed bid contracts.
c. contracts with small business concerns.
d. bridge contracts. - Answer✔a. negotiated contracts and subcontracts.
2|Page
, ©THESTAR 2025 ALL RIGHTS RESERVED 11:41 AM A+
FAR 30.000
The head of the agency may waive the applicability of Cost Accounting Standards (CAS) for a
particular contract or subcontract when one of these conditions exists:
a. The contract or subcontract is less than $50 million, primarily engaged in the sale of
commercial items, and has no contracts/subcontracts subject to CAS.
b. The contract or subcontract is less than $15 million, primarily engaged in the sale of
commercial items, and has no contracts/subcontracts subject to CAS.
c. The contract or subcontract is less than $7.5 million, primarily engaged in the sale of
commercial items.
d. The contract or subcontract is less than $5 million, primarily engaged in the sale of
commercial items, and has no contracts/subcontracts subject to CAS. - Answer✔b. The contract
or subcontract is less than $15 million, primarily engaged in the sale of commercial items, and
has no contracts/subcontracts subject to CAS.
FAR 30.201-5
Which of the following statements about advance agreements is NOT true?
3|Page
, ©THESTAR 2025 ALL RIGHTS RESERVED 11:41 AM A+
a. Advance agreements may only be negotiated with a particular contractor for a single
contract.
b. Advance agreements may be negotiated either before or during a contract.
c. The agreement must be in writing.
d. The agreements must be incorporated into applicable current and future contracts. -
Answer✔a. Advance agreements may only be negotiated with a particular contractor for a
single contract.
FAR 31.109
A cost is reasonable if, in its nature and amount, it does not exceed that which would be
a. incurred by a prudent person in the conduct of competitive business.
b. accrued by a prudent person in the conduct of competitive business.
c. determined to be allowable by the CO.
d. determined to be allocable by the CO. - Answer✔a. incurred by a prudent person in the
conduct of competitive business.
FAR 31.201-3
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