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CFCM FINAL EXAM STUDY GUIDE 2025-
2026|150+VERIFIED QUESTIONS AND
ANSWERS|A+GRADE
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. ANS:->>> d. Generally, the government will refuse to award a contract on the grounds that the prospective contractor may infringe a patent. FAR 27. 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. ANS:->>>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. ANS:->>> a. negotiated contracts and subcontracts.
FAR 30.
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.
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. ANS:->>> a. incurred by a
prudent person in the conduct of competitive business. FAR 31.201- 3 What definition best describes alternative dispute resolution?
a. Procedures used to resolve issues in controversy.
b. Procedures voluntarily used to resolve issues in controversy.
c. Procedures used for asserting and resolving claims.
d. Procedures voluntarily used for asserting and resolving claims.
ANS:->>> b. Procedures voluntarily used to resolve issues in controversy. FAR 33. The government's policy is to try to resolve all contractual issues in controversy by
a. mutual agreement at the CO's level.
b. bilateral agreement at the CO's level.
c. mutual agreement at a level above the CO.
d. unilateral agreement at the CO's level. ANS:->>> a. mutual
agreement at the CO's level. FAR 33. After receiving the GAO's written notice that a protest has been filed, an agency must give notice
a. of the protest to the contractor or all parties who appear to have a
reasonable prospect of receiving an award.
b. of the protest only to the prime contractor performing the
work.
c. of the protest to all parties who appear to have a reasonable prospect of
receiving award and begin compiling the information necessary to report to the GAO.
d. through a government-wide point of entry (GPE). ANS:->>>a. of the
protest to the contractor or all parties who appear to have a reasonable prospect of receiving an award. FAR 33. Does a $75,000 claim resulting from a reduction of $350,000 and an increase of $275,000 require certification?
a. No, because the claimed amount is less than
b. Yes, because the aggregate value of the claim exceeds $100,000.
c. the head of the contracting activity.
d. the commanding officers. ANS:->>>c. the head of the contracting activity.
FAR 33.104(c)(2) The CO shall consider all protests and seek legal advice
a. only if protests are received after award and filed directly with the
agency.
b. only if the protest is received after award and filed directly with the
GAO.
c. whether protests are submitted before or after award.
d. whether protests are submitted before or after award and whether filed
directly with the GAO, the U.S Court of Claims, or the agency. ANS:->>>d. whether protests are submitted before or after award and whether filed directly with the GAO, the U.S Court of Claims, or the agency. FAR 33. A protest based upon improprieties in a solicitation must be filed before bid opening or the closing date for receipt of proposals. in all other cases, protests must be filed
a. within 10 calendar days of the time the protester knew or should have
known of the basis of the protest, whichever is earlier.
b. within 100 calendar days of the time the protester knew or should have
known of the basis of the protest, whichever is earlier.
c. within 5 days after a debriefing date to the other offerors.
d. within 15 days before the acceptance of offers. ANS:->>>a. within 10
calendar days of the time the protester knew or should have known of the basis of the protest, whichever is earlier. FAR 33. The responsibility for selecting the appropriate type of contract for an R&D requirement belongs to the
a. program manager.
b. CO.
c. acquisition manager
d. R&D Chief ANS:->>>b. CO. FAR
35.006(b) The methodologies contracting officers shall use in acquiring construction contracts and architect-engineer services, respectively, are
a. negotiation and sealed bids
c. modular.
d. alpha. ANS:->>>c. modular.
FAR 39.
Prior to entering into a contract for information technology, an agency should analyze
a. features, risks and cost.
b. technical capabilities, risks, and cost.
c. technical capabilities, benefits, and cost.
d. risks, benefits, and cost. ANS:->>>d. risks, benefits, and cost.
FAR 39.
The following are examples of types of risk for the acquisition of information technology EXCEPT
a. technical obsolescence.
b. technical feasibility.
c. contract administration.
d. dependencies between a new project and other projects or systems.
ANS:->>>c. contract administration. FAR 39.
Subject to the fiscal regulations of the agencies and applicable interagency agreements, the requesting agency shall reimburse the servicing agency for rendered contract administration and audit services in accordance with the
a. Service Contract Labor Standards statute (Service Contract Act of
b. current fiscal year appropriations.
c. Economy Act (31U.S.C. 1535).
d. Federal Contract Administration Act ANS:->>>c. Economy Act
(31U.S.C. 1535).
FAR 42.002(b) Which of the following is NOT true with regard to production surveillance?
a. In conducting production surveillance, the CAO personnel are
prohibited from using contractor production control or data management systems.
b. The purpose of production surveillance is to determine contractor
progress and to identify any factors that may delay performance.
c. Production surveillance involves government review of contractor
performance plans, schedules, controls, and industrial processes and the actual performance under them.
d. Contracts at or below the SAT should not normally require production
surveillance. ANS:->>>a. In conducting production surveillance, the CAO personnel are prohibited from using contractor production control or data management systems.
a. are based upon recent reviews, previous rate audits and experience or
similar reliable data.
b. are established by a single agency and are binding on all agencies unless
otherwise specifically prohibited.
c. are established once and then may be prospectively or retroactively
revised by mutual agreement.
d. may be unilaterally determined by the contracting officer. ANS:->>>b.
are established by a single agency and are binding on all agencies unless otherwise specifically prohibited. FAR 43. Which of the following is NOT true with respect to suspension of work or stop work orders?
a. The contracting officer may order a suspension of work for a reasonable
period of time under a construction or architectural and engineering contract.
b. Stop work order is approved at a level higher that the contracting
officer.
c. Stop work orders are applicable to any negotiated fixed-price or cost-
reimbursement supply, research, development, or service contract.
d. Government delay of work may be used as a justification for the
contracting officer to order a suspension. ANS:->>>d. Government delay of work may be used as a justification for the contracting officer to order a suspension. FAR 42.1302, 42.1303, 42.
Which of the following is NOT defined as government property?
a. government-furnished property
b. contractor-acquired property
c. property owned by or leased to the government or acquired by the
government under the terms of the contract.
d. intellectual property and software. ANS:->>>d. intellectual
property and software. FAR 45. A person holding himself or herself out to the general public to provide transportation for compensations is a
a. contract carrier.
b. universal carrier.
c. common carrier.
d. commercial carrier. ANS:->>>c. common carrier.
FAR 47.
A latent defect is a defect that
a. exists at the time of acceptance and could be discovered by a
c. by relieving the contractor of liability for loss or damage to all
contract end items.
d. by requiring appropriate insurance be carried by contractors on cost
reimbursement type contracts and reimbursing the contractor for the expense. ANS:->>>a. by acting as a self-insurer. FAR 46.803(a) A contract should not normally be terminated for convenience but should be permitted to run to completion when the price of the undelivered balance of the contract is less than
a. $25,000.
b. $1,000.
c. $5,
d. $10,000 ANS:->>>c. $5,
FAR 49.101(c) What is the heart of a settlement for a contract terminated for convenience?
a. strict accounting principles
b. business judgement.
c. a payment for the work done and also preparation for work on the
terminated portions.
d. a strict determination of consequential damages and anticipatory profits.
ANS:->>>b. business judgement.
FAR 49.201(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 ANS:->>>c. every 5 years FAR 1.
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. determination and findings
c. contracting officer's final decision
d. waiver ANS:->>>b. determination and findings FAR 1.
Contracting Officers below the level of shall be selected and appointed.
c. the contracting officer
d. the contracting specialist ANS:->>>c. the contracting officer
FAR 1.108(f) Unauthorized commitments are agreements that are NOT binding soley because
a. the agreement is not made in the best interests of the government
b. all requirements of executive orders were not followed in their
development
c. the supplies or services are not ultimately acceptable to the government and
the government will not obtain benefit
d. the government representative who made the agreement lacked the
authority to enter into it ANS:->>>d. the government representative who made the agreement lacked the authority to enter into it FAR 1. The simplified acquisition threshold for any contract in support of contingency operations to be awarded and performed, or purchase to be made, outside the U.S. is
a. $150,
b. $300,
c. $1 million
d. $1.5 million ANS:->>>c. $1 million FAR 2.
Which of the following is a commercial item?
a. A nondevelopmental item, if the procuring agency determines the item
was developed exclusively at private expense and sold in substantial quantities, on a competitive basis, to multiple state and local governments.
b. An item that evolved from an item that has not been sold to the general
public.
c. A commercial item that has received modifications not available in the
commercial marketplace.
d. A nondevelopmental item used exclusively for government
purchases. ANS:->>>a. A nondevelopmental item, if the procuring agency determines the item was developed exclusively at private expense and sold in substantial quantities, on a competitive basis, to multiple state and local governments. FAR 2. Consolidating two or more requirements for supplies or services, previously provided or performed under separate small contracts, into a solicitation for a single contract that is likely to be unsuitable for award to a small business concern is defined as
a. combining
b. consolidating
