CFCM Practice Test Questions All Answers Correct
1. Adjustment of Statutory Acquisition-Related Dollar Thresholds: - Statutory dollar thresholds in the FAR are adjusted for inflation every 5 years. ️
2. Determination and Findings: - A form of written approval, signed by an authorized official...
1. Adjustment of Statutory Acquisition-Related Dollar Thresholds:
- Statutory dollar thresholds in the FAR are adjusted for inflation every 5 years. ✔️
2. Determination and Findings:
- A form of written approval, signed by an authorized official, required as a prerequisite for certain
contract actions. ✔️
3. Contracting Officer Appointments:
- Contracting officers below the level of a head of a contracting activity shall be selected and
appointed. ✔️
4. Delegation of Authority:
- According to FAR conventions in Subpart 1.1, each authority is delegable unless specifically stated
otherwise. ✔️
5. Responsibility in Action Directives:
- In the FAR, an imperative sentence directing action usually denotes that the Contracting Officer (CO)
is responsible unless another party is expressly cited. ✔️
6. Unauthorized Commitments:
- Agreements made by a government representative that are not binding due to the lack of authority
to enter into such agreements. ✔️
7. Simplified Acquisition Threshold for Contingency Operations:
- The simplified acquisition threshold for contracts awarded and performed, or purchases made,
outside of the United States is $1 million. ✔️
8. Definition of a Commercial Item:
, - A non-developmental item developed exclusively at private expense and sold in substantial quantities
on a competitive basis to multiple state and local governments. ✔️
9. Bundling:
- The consolidation of two or more requirements for supplies or services previously provided under
separate smaller contracts into a single contract, typically unsuitable for small business awards. ✔️
10. Inclusion in Contracts Definition:
- Contracts include various forms such as letter contracts and job orders. ✔️
11. Techniques to Minimize Buying In:
- Techniques include multiyear contracting, priced options, and amortization of nonrecurring costs.
✔️
12. Contingent Fees:
- Arrangements for contractors to pay contingent fees for soliciting government contracts are contrary
to public policy as they may lead to improper influence. ✔️
13. Kickbacks Definition:
- Any form of money, fee, commission, gift, or thing of value provided to a contractor or subcontractor
to obtain favorable treatment. ✔️
14. Signing a Contract for Corporations:
- A contract with a corporation must be signed in the corporate name, followed by the word "by" and
the signatory’s signature and title. ✔️
15. Record Retention Period:
- Contractors must retain records related to a government contract for a minimum of 3 years from the
date of final payment, unless otherwise specified. ✔️
16. Contractor Representations and Certifications:
, - Submitted through the System for Award Management (SAM). ✔️
17. OMB Guidance for Identity Verification:
- Agencies must implement OMB guidance for personal identity verification when contractors have
routine physical access to federally controlled facilities or information systems. ✔️
18. Public Announcement Threshold for Contract Awards:
- The dollar threshold for the public announcement of contract awards is $4,000,000. ✔️
19. Methods for Disseminating Information on Contract Actions:
- Acceptable methods include announcements in magazines at no cost, assisting local trade
associations, and synopsis in the Government-wide Point of Entry (GPE). ✔️
20. Minimum Response Time for Bids/Proposals for Noncommercial Items:
- The minimum response time required is 30 days from the date of publication of the notice of intent
to contract. ✔️
The contracting officer's certification can serve as approval of the justification for other than full and
open competition for a proposed contract NOT exceeding ✔️$700,000
FAR Part 6, "Competition Requirements," applies to which of the following? ✔️A $1M contract for
services
The contracting officer may use competitive proposals in lieu of sealed bids if ✔️it is necessary to
conduct discussions
If other than full and open competition is anticipated, the acquisition plan must be coordinated with the
cognizant ✔️competition advocate
Acquisition planning should begin ✔️as soon as the agency need is identified
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