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Certified Federal Contracts Manager (CFCM) with
100% Correct Answers | Verified | Latest Update
2025 | Already Passed
A cost is reasonable if, in its nature and amount, it does not exceed - ✔✔that which would be incurred by a prudent person in the conduct of competitive business. Advance Agreements should not be negotiated - ✔✔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 following? - ✔✔The contract specifies payments aggregating $100,000 or more. Individuals delegated micro-purchase authority do not need to be - ✔✔appointed in an SF 1402 Advisory and assistance services are classified in all of the following subdivisions except - ✔✔construction. A foreign end product may be purchased under the Buy American Act if - ✔✔the price of the lowest domestic offer is determined to be unreasonable by the CO. The threshold which must be exceeded before purchases of services become subject to the Service Contract Act is - ✔✔$2,
Which of the following examples is considered to be an inherently governmental function? - ✔✔approving contractual documents If market research indicates commercial or nondevelopmental items might not be available to satisfy agency needs, agencies shall next: - ✔✔determine whether the need can be restated to permit commercial or nondevelopmental items to satisfy the agency's needs. Which is NOT one of the seven exceptions to full and open competition? - ✔✔Approval by the Agency Head If the delivery schedule is based on the date of the contract, the contracting officer shall mail or otherwise furnish to the contractor the contract, notice of award, acceptance of proposal or other contract document - ✔✔not later than the date of the contract. Liquidated damages are typically assessed - ✔✔per calendar day. Cost Accounting Standards apply to commercial item contracts when they are - ✔✔fixed price with economic price adjustment based on actual costs. An indefinite-quantity contract is best used when: - ✔✔a recurring need is anticipated
Under what type of contract might the seller never have to perform any services or provide any deliveries? - ✔✔Requirements contract. A termination for convenience should not normally be issued if the undelivered balance of the contract is less than: - ✔✔$5, Effective competition, as used in FAR Part 34, is a market condition that exists when - ✔✔two or more contractors act independently and actively contend for the government's business. The total amount that can be paid for commercial advance payments cannot exceed _____ of the contract price: - ✔✔15% When progress payments are authorized, what is the customary progress payment rate applicable to the total costs of performing the contract? - ✔✔80%, 85% for contracts with small businesses The Walsh-Healy Public Contracts Act pertains to such matters as minimum wages, maximum hours, child labor, convict labor, and safe and sanitary working conditions and applies to contracts for the manufacture or furnishing of materials, supplies, articles, and equipment in the United States in any amount exceeding - ✔✔$15, A valid unsolicited proposal must: - ✔✔be independently originated and developed by the offeror.
Each acquisition of supplies or services that has an anticipated dollar value exceeding _____ and not exceeding ______ is reserved exclusively for small business concerns and shall be set aside unless the contracting officer appropriately determines otherwise. - ✔✔$3,000; $150, Fast Payment Procedures are generally used when delivery must occur at a geographically separated location that would make it impractical to make timely payment based on evidence of government acceptance and the individual order does not exceed: - ✔✔$30, Under FAR Part 14, Sealed Bidding, Bid Samples: - ✔✔will be rejected for nonresponsiveness if the sample fails to conform to each of the characteristics listed in the invitation. Agencies may not use the following contract type for the acquisition of commercial items: - ✔✔Cost-Plus-Award-Fee Permitted exchanges of information with Industry prior to receipt of proposals include all of the following except: - ✔✔Providing the Independent Government Cost Estimate to offerors for pricing purposes If no time is specified in a solicitation, the time of receipt is: - ✔✔4:30 pm
The requirement to obtain advance authorization for an invention used or manufactured by or for the Federal Government is covered by the - ✔✔North American Free Trade Act. To reduce the time required to solicit and award contracts for the acquisition of commercial items, the contracting officer may combine - ✔✔the synopsis and the solicitation. In pricing changes to a contract, the threshold for obtaining cost and pricing data shall include - ✔✔price increases and decreases. Cost realism analysis is the process of independently reviewing and evaluating specific elements of each offeror's proposal cost estimate to determine that the estimated proposed cost elements are consistent with the - ✔✔methods of performance and materials described in the offeror's technical proposal. Unusual contract financing means financing that - ✔✔the agency has not authorized its contracting officer to use without specific reviews or approvals by higher management. Which of the following is NOT an example of permissible contract financing? - ✔✔Direct loans The Contracting Officer shall presume that all data delivered under a contract for commercial items - ✔✔were developed exclusively at private expense.
Which of the following is NOT true concerning Project Labor Agreements? - ✔✔They prescribe wage rates for a single project. What is the Order of Precedence under the Uniform Contract Format? - ✔✔The Schedule — Contract Clauses — List of Documents, Exhibits, and Other Attachments — Representations and Instructions The SBA establishes small business size standards on an industry-by-industry basis and small business size standards are applied by - ✔✔classifying the product or service being acquired in the industry whose definition, as found in the North American Industry Classification System (NAICS) Manual. A Certificate of Competency (COC) - ✔✔is the certificate issued by the Small Business Administration Every evaluation and contract award should consider past performance as - ✔✔an evaluation sub-factor under the "quality" evaluation factor. The determination to establish a Forward Pricing Rate Agreement (FPRA) shall be made by the - ✔✔cognizant contract administration agency.
The government shares collateral value engineering savings with the contractor UNLESS the - ✔✔cost of calculating and tracking collateral savings will exceed the benefits. What pricing threshold for responses to procurements requires a small business subcontracting plan as part of the offerors' submission? - ✔✔$650, Government agencies shall maintain sound relationships with industry and labor in order to - ✔✔receive information involving labor relations that may affect the acquisition process. To avoid obsolescence, a modular contract for information technology should, to the maximum extent practicable, be awarded within _____ days after the date on which the solicitation is issued. - ✔✔ 180 Concerning its disclosed or established cost accounting practices, a contractor - ✔✔may change them unilaterally, but the government won't pay any resulting aggregate increase in cost. The Buy American Act uses a two-part test to define a "domestic end product": - ✔✔components manufactured in the United States and a formula based on cost of domestic When an agency contracts for the operation of a system of records on individuals, under the Privacy Act, agencies or its officers/employees may be subject to - ✔✔civil and criminal penalties.
Agencies shall require offerors to identify used, reconditioned, or remanufactured supplies, or unused former government surplus property, proposed for use under the contract unless - ✔✔the items being acquired are commercial items. If the apparently successful offeror fails to negotiate a subcontracting plan that is acceptable to the contracting officer within the time limit prescribed by the contracting officer, the offeror will be considered - ✔✔ineligible for award. An acquisition formally begins when the - ✔✔agency needs are established. Which of the following is NOT an exception to submission of certified cost or pricing data? - ✔✔small business When should you consider prompt payment discounts in evaluating quotations? - ✔✔prompt payment discounts should not be evaluated. During source selection it is an acceptable practice to - ✔✔inform an offeror that its price is considered too high. Normally, testing and approval is required in contracts for: - ✔✔Non-commercial items being manufactured for the first time
A unilateral modification is used to modify a contract to accomplish all of the following EXCEPT to - ✔✔definitize letter contracts. When, after award, a contractor requests the use of special tooling or special test equipment, the contracting officer shall - ✔✔obtain a fair rental or other adequate consideration if use is authorized. A special form of written approval by an authorized official that is required by statute or regulation as a prerequisite to making certain contract actions is called a(n): - ✔✔Determination and Finding. The Davis-Bacon Act applies to contracts for construction, alteration, or repair of public buildings or public works within the United States. - ✔✔in excess of $2, The government shall apply a more dominant consideration of the technical or past performance in source selection when the - ✔✔acquisition is considered to be a high performance risk. There are three types of indefinite-delivery contracts: - ✔✔Definite-quantity, requirements, and indefinite-quantity contracts "Emergency acquisition flexibilities" as used in FAR Part 18.001 means flexibilities provided with respect to any acquisition of supplies or services by or for an executive agency that, as
determined by the head of an executive agency, may be used - ✔✔when the President issues an emergency declaration, or a major disaster declaration. Which of the following is correct regarding the 8(a) program? - ✔✔The eligibility of an 8(a) firm for a competitive 8(a) award may not be challenged or protested. The Contracting Officer (CO) shall review the contractor's request for overtime. CO approval is required for which of the following contract type(s): - ✔✔Time & Material and Labor Hour Contracts According to FAR 19.202-3, in the event of equal low bids, awards shall be made first to: - ✔✔Labor surplus area small business concern Imprest funds may be used for purchases when the transaction does not exceed - ✔✔$ According to FAR 8.4, Federal Supply Schedules, which of the following is correct? - ✔✔The maximum order threshold of a schedule contract represents the point where the ordering activity shall seek a price reduction The ordering activity that has established a BPA shall review it at least once a year to determine all but which of the following: - ✔✔The ordering activity still has a need for the BPA.
SAP Policy does not apply if an agency can meet requirement using (Ref: FAR 13.003) - ✔✔Required sources of supply under Part 8 (e.g., Federal Prison Industries, Committee for Purchase from People Who are Blind or Severely Disabled, and Federal Supply Schedule contracts) When soliciting competition, the CO shall consider (Ref: FAR 13.106-1) - ✔✔dollar value of the proposed purchase, electronic commerce method that employs widespread electronic public notice is not available, nature of the article or service to be purchased and whether it is highly competitive and readily available in several makes or brands, or is relatively noncompetitive.
- The conditions for use of the fast payment procedure are as follows: Individual purchasing instruments do not exceed $30,000 (exceptions are permitted). (Ref: FAR 13.4) - ✔✔$30, Contract types are grouped into two broad categories (Ref: FAR 16.101(b)) - ✔✔Firm-Fixed Price and Cost-reimbursement Oral Presentations are (Ref: FAR 15.1) - ✔✔Substitute or augment written information, Provide opportunity for dialog between the parties, Subject to the same restrictions as written information, regarding time and content
Acceptable evidence to establish time of receipt are (Ref FAR 15.2): - ✔✔Time/date stamp on proposal wrapper, Other documentary evidence, Oral testimony or statements of Government personnel Exchanges with offerors after receipt of does all of the following except (Ref FAR 15.306) - ✔✔b. Protests All of the following are Proposal Analysis Techniques (Ref FAR 15.404-1) - ✔✔Price Analysis, Cost Analysis, Technical Analysis Debriefings must be requested in writing within ___days after Pre-award - notification of exclusion from the competition (Ref FAR 15.5) - ✔✔ 3 A Certificate of Competency is the certificate issued by _______stating that the holder is responsible (with respect to all elements of responsibility) for the purpose of receiving and performing a specific Government contract (Ref FAR 19.6) - ✔✔Small Business Administration (SBA) A Woman-owned SB concern is at least ___ owned by one or more women (Ref FAR 2.101) - ✔✔51%
of two or more sureties that are jointly liable for the penal sum of the bond). (FAR 28.2) - ✔✔Surety The Miller Act requires performance and payment bonds for any construction contract valued in excess of _____, unless waived. Generally, such bonds are not required for other than construction contracts; however, in some situations, performance bonds may be appropriate, (FAR 28.103-2(a) 1-4) - ✔✔$150, With respect to any protest filed with the GAO, if the funds available to the agency for a contract at the time a protest is filed in connection with a solicitation for, proposed award of, or award of such a contract would otherwise expire, such funds remain available for obligation for ____ days after the date on which the final ruling is rendered. FAR 33.102(c) - ✔✔ 100 A claim is a written demand or written assertion by one of the contracting parties seeking, as a matter of right, the payment of money in a sum certain, the adjustment or interpretation of contract terms, or other relief arising under or relating to the contract. However, a written demand or written assertion by the contractor seeking the payment of money exceeding __________ is not a claim under the Contracts Disputes Act of 1978 until certified as required by the Act and FAR 33.207. (FAR 2.101) - ✔✔$100,
Under Cost Accounting Standards the contracting officer is responsible for (FAR 30.202-6) - ✔✔Determining when a proposed contract may require CAS coverage, Including the appropriate notice in the solicitation and ensuring the offeror has made the required solicitation certifications, Progress Payments Based on Costs Customary progress payment rate for large business concerns is (FAR 32.5) - ✔✔80% Payments are generally made on the ____ day after the designated billing office receives a proper invoice from the contractor or the _____ day after government acceptance of supplies delivered or services performed by the contractor, whichever is later (FAR 32.9) - ✔✔30th Each contractor request for progress payment must be for ______ or more, unless agency procedures authorize a lower amount (FAR 32) - ✔✔$2, The acquisition strategy tailored to a major system acquisition is developed by the __________, (FAR 34.004) - ✔✔Program Manager __________ agreements should be used when the principal purpose of the transaction is to stimulate or support research and development for another public purpose. (FAR 35.003 ) - ✔✔Grants or cooperative
