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Certified Federal Contracts Manager (CFCM) Questions and Answers 100% Pass
Certified Federal Contracts Manager (CFCM) Questions and Answers 100% Pass A cost is reasonable if, in its nature and amount, it does not exceed - Answer ️️ -that which would be incurred by a prudent person in the conduct of competitive business. Advance Agreements should not be negotiated - Answer ️️ -after the incurrence of the costs involved. Under the Assignment of Claims Act, a contractor may assign moneys due or to become due under a contract if it meets all but which of the...
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Certified Federal Contracts Manager (CFCM) Questions and Answers 100% Pass A cost is reasonable if, in its nature and amount, it does not exceed - Answer ️️ -that which would be incurred by a prudent person in the conduct of competitive business. Advance Agreements should not be negotiated - Answer ️️ -after the incurrence of the costs involved. Under the Assignment of Claims Act, a contractor may assign moneys due or to become due under a contract if it meets all but which of the...
CFCM Exam Practice Questions and Answers
CFCM Exam Practice Questions and Answers The FAR requires agencies to report bids or proposal that - Answer ️️ -Show evidence of an industry pricelist The practice of submitting an unrealistically low bid with the expectation of recouping the loss on change orders or subsequent business - Answer ️️ -buying-in Government contractors must have a written code of ethics. Which of the following is NOT required in the contractor's compliance training and internal control program - Answe...
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CFCM Exam Practice Questions and Answers The FAR requires agencies to report bids or proposal that - Answer ️️ -Show evidence of an industry pricelist The practice of submitting an unrealistically low bid with the expectation of recouping the loss on change orders or subsequent business - Answer ️️ -buying-in Government contractors must have a written code of ethics. Which of the following is NOT required in the contractor's compliance training and internal control program - Answe...
CFCM Questions and Answers 100% Pass
CFCM Questions and Answers 100% Pass A pre-bid conference may be used for the following purposes except? - Answer ️️ -The correct answer is: as a substitute for amending a defective or ambiguous invitation. ________________ provides for upward or downward revision of the state contract price upon occurrence of specified contingencies - Answer ️️ -Fixed-Price with economic price adjustment What method of special contracting is used to acquire known requirements in quantities and tota...
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CFCM Questions and Answers 100% Pass A pre-bid conference may be used for the following purposes except? - Answer ️️ -The correct answer is: as a substitute for amending a defective or ambiguous invitation. ________________ provides for upward or downward revision of the state contract price upon occurrence of specified contingencies - Answer ️️ -Fixed-Price with economic price adjustment What method of special contracting is used to acquire known requirements in quantities and tota...
CFCM Practice Test Questions with Verified Solutions
CFCM Practice Test Questions with Verified Solutions How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? - Answer ️️ -Every 5 years 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 he...
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CFCM Practice Test Questions with Verified Solutions How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? - Answer ️️ -Every 5 years 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 he...
CFCM Final Review Questions and Answers Graded A+
CFCM Final Review Questions and Answers Graded A+ 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 Secretary of Defense, the Administrator of General Services, and the Administrator of the National Aeronautics and Space Administration. d. The National Contract Management Association. - Answer ️️ -c. The Secretary of Defense, the Administrator of General Servi...
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CFCM Final Review Questions and Answers Graded A+ 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 Secretary of Defense, the Administrator of General Services, and the Administrator of the National Aeronautics and Space Administration. d. The National Contract Management Association. - Answer ️️ -c. The Secretary of Defense, the Administrator of General Servi...
CFCM Study Guide: FULL TEST Latest Update with Verified Solutions
CFCM Study Guide: FULL TEST Latest Update with Verified Solutions 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 ...
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CFCM Study Guide: FULL TEST Latest Update with Verified Solutions 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 ...
CFCM Exam Practice Test Questions and Answers with Verified Solutions
CFCM Exam Practice Test Questions and Answers with Verified Solutions What is a Certificate of Competency - Answer ️️ -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? - Answer ️️ -$35,000 What can a contractor access online at ...
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CFCM Exam Practice Test Questions and Answers with Verified Solutions What is a Certificate of Competency - Answer ️️ -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? - Answer ️️ -$35,000 What can a contractor access online at ...
CFCM Practice Exam Questions and Answers Already Graded A
CFCM Practice Exam Questions and Answers Already Graded A What is a Certificate of Competency? - Answer ️️ -A certificate issued by the SBA stating that the holder is responsible, for the purpose of receiving and performing a specific Government contract What law specifies how agencies shall make their records available upon public request, imposes strict time standards for agency responses, and exempts certain records from public disclosure? - Answer ️️ -Freedom of Information Ac...
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CFCM Practice Exam Questions and Answers Already Graded A What is a Certificate of Competency? - Answer ️️ -A certificate issued by the SBA stating that the holder is responsible, for the purpose of receiving and performing a specific Government contract What law specifies how agencies shall make their records available upon public request, imposes strict time standards for agency responses, and exempts certain records from public disclosure? - Answer ️️ -Freedom of Information Ac...
CFCM Thresholds Latest 2024 Rated A+
CFCM Thresholds Latest 2024 Rated A+ Under $150,000 - Answer ️️ -Simplified Acquisition Threshold $25,000 - Answer ️️ -Generally, agency need must be synopsized in the GPE for this dollar amount or over $3,500 - Answer ️️ -Micro purchase Threshold $2,000 - Answer ️️ -Micro purchase threshold for construction subject to wage rate requirements $2,500 - Answer ️️ -Micro purchase threshold for services subject to service contract labor standards $20,000 - Answer ️️ -...
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CFCM Thresholds Latest 2024 Rated A+ Under $150,000 - Answer ️️ -Simplified Acquisition Threshold $25,000 - Answer ️️ -Generally, agency need must be synopsized in the GPE for this dollar amount or over $3,500 - Answer ️️ -Micro purchase Threshold $2,000 - Answer ️️ -Micro purchase threshold for construction subject to wage rate requirements $2,500 - Answer ️️ -Micro purchase threshold for services subject to service contract labor standards $20,000 - Answer ️️ -...
CFCM Practice Test 2024
CFCM Practice Test 2024 With respect to proposal evaluations, solicitations for simplified acquisitions are: - Answer ️️ - not required to state the relative importance of each evaluation factor and subfactor. Performance-based acquisition offers __________, which can be used to adjust payment to reflect the degree of performance success and to motivate superior performance. - Answer ️️ - Incentives _______________ contracts are characterized by the employer-employee relationship i...
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CFCM Practice Test 2024 With respect to proposal evaluations, solicitations for simplified acquisitions are: - Answer ️️ - not required to state the relative importance of each evaluation factor and subfactor. Performance-based acquisition offers __________, which can be used to adjust payment to reflect the degree of performance success and to motivate superior performance. - Answer ️️ - Incentives _______________ contracts are characterized by the employer-employee relationship i...
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the answers are incorrect
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