CFCM Final Exam Questions

CFCM Final Exam Questions What is a Certificate of Competency? - ✔✔A certificate issued by the SBA stating that the holder is responsible, for the purpose of receiving and performing a specific Government contract Ex ...

CFCM Final Exam Questions What is a Certificate of Competency? - ✔✔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? - ✔✔$35,000 What can a contractor access online at www.fedbizopps.gov? - ✔✔The government wide point of entry Application of size standards includes specifying the size standard in the - ✔✔solicitation When the value of the contract is $100,000 the agency will be required to use - ✔✔SAP How is the publication of a paid advertisement in a newspaper authorized? - ✔✔By the head of the agency, by giving written authorization The unilateral right in a contract by which the Government may elect to purchase additional supplies or services called for by the contract is called what? - ✔✔Option If a prospective contractor is qualified and eligible to receive an award, but lacks adequate financial resources to perform the contract, can the contractor be determined responsible? - ✔✔If the contractor presents evidence of the ability to obtain adequate financial resources, the contractor may be determined responsible What are methods for simplified acquisition? - ✔✔Blanket purchase agreement, Governmentwide commerica lpurchase card, Purchase Order For a contract exceeding the simplified acquisition threshold, an offeror (other than an individual) that does not agree to provide a drug-free workplace is what? - ✔✔Not considered a responsible source 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? - ✔✔Freedom of Information Act Who is responsible for printing, publishing, and distributing the Federal Acquisition Regulation? - ✔✔The FAR Secretariat, as authorized by GSA Which FAR Part prescribes policies and procedures unique to the acquisition of commercial items? - ✔✔FAR Part 12 Which of the following is necessarily true about a cost that is assignable or chargeable to one or most cost objectives on the basis of relative benefits received or other equitable relationship? - ✔✔The cost is allocable A mineral required for production in performance of a contract is not mined in the United States, but can be acquired from another country. How does the Buy American statute apply in this case? - ✔✔The mineral may be acquired from a foreign source if it is in the best interest of the Government When it is in the best interest of the Government to consider award to other than the highest technically rated offeror, which of the following should the Government use to select the source? - ✔✔A tradeoff process The obtaining of opinions, special knowledge, or skills from noted experts would be included in what kind of service? - ✔✔Advisory and assistance service Who is authorized to execute contract modifications on behalf of the Government? - ✔✔Only a contracting officer acting within the scope of his or her authority Which FAR part prescribes policies and procedures for contracting for supplies and services under the Federal Supply Schedule program? - ✔✔Part 38 If hazardous materials are expected to be used during contract performance, what must the apparent successful offeror do prior to contract award? - ✔✔Furnish hazardous material data on a Material Safety Data Sheet A failure in estimating, accumulating, or reporting costs to comply with applicable cost accounting standards is called what? - ✔✔Noncompliance Who is authorized to sign a contract on behalf of the United States? - ✔✔Only the contracting officer A cash fund of fixed amount established by an advance of funds, for disbursement in cash for relatively small amounts is called what? - ✔✔Imprest fund The Government's policy is to try to resolve all contractual issues in controversy by what? - ✔✔Mutual agreement at the contracting officer's level What are examples for justification of emergency acquisitions flexibilities? - ✔✔The President has issued a major disaster declaration, The acquisition is to facilitate the defense against a nuclear attack against the United States, The acquisition is in support of a contingency operation What is a function that must be delegated to a CAO if the agency has not designated the CO to perform it? - ✔✔Negotiation of forward pricing rate agreements Which of the following is not an example of information technology? Software development, A computer hard drive, building's digital thermostat, or modem - ✔✔digital thermostat When shall certified cost or pricing data be obtained? - ✔✔negotiated procurement is expected to exceed $750,000 What technique promote the early exchange of information with industry? - ✔✔Market research When evaluating a proposal, what rating method is an agency required to use to assess the evaluation factors specified in the solicitation? - ✔✔agency may use any method or combination of methods Standard Form 44 is also known as what? - ✔✔Purchase Order—Invoice—Voucher Under FAR Part 5, contract actions must be synopsized in the GPE if they exceed what amount? - ✔✔$25,000 In which FAR Part is the Uniform Contract Format outlined? - ✔✔Part 15 What is required when a change order is not forward priced? - ✔✔Documentation of the change order and an agreement to an equitable adjustment in contract terms A contractor infringes on a copyright with the authorization of the Government. What remedy is available to the copyright holder? - ✔✔A suit for monetary damages against the Government in the Court of Federal Claims In the FAR citation "FAR 25.1102(a)(2)," what is referred to by the number 11? - ✔✔Subpart 25.11 Which of the following contract types is generally used to acquire construction? - ✔✔Firmfixed-price Which of the following would be necessary for sealed bidding to be appropriate? - ✔✔The award will be made on the basis of price and price-related factors Which of the following is true about acquisitions for which the World Trade Organization Government Procurement Agreement applies? - ✔✔The contracting officer must not include technical requirements in solicitations solely to preclude the acquisition of eligible products Who is generally responsible for granting approval of a contractor's purchasing system? - ✔✔administrative contracting officer The process of establishing a reasonable amount to be paid for supplies or services is called what? - ✔✔Pricing What is the term for the amount of money specified in a bond as the maximum payment for which the surety is obligated? - ✔✔Penal amount Which of the following is a true statement about the role of the Acquisition Team? - ✔✔The procurement policies and procedures that are used by members of the Acquisition Team are outlined in the FAR When is consent to subcontract generally required? - ✔✔When the contractor has an approved purchasing system When will the acquisition procedures of FAR Part 12? - ✔✔Performance-based acquisition, Acquisition of a commercial-off-the-shelf item, Acquisition based on the results of market research What methods of contract financing is least preferred by the Government? - ✔✔Advance payment Which of the following is the Government permitted to do after receipt of proposals? - ✔✔Make an award without holding discussions, if the solicitation says this is intended Which of the following public relations or advertising costs would be unallowable? Hosting a ceremony to announce a new product, Participating in community service activities, Providing a tour or open house of a facility, Responding to inquiries on company policies - ✔✔Hosting a ceremony to announce a new product A contract that is awarded using other than sealed bidding procedures is what? - ✔✔A negotiated contract Generally, when shall acquisitions of supplies or services be automatically reserved exclusively for small business concerns and set aside for small businesses? - ✔✔When the anticipated dollar value exceeds $3,500 but does not exceed $150,000 What is the minimum amount of information that a request for proposals for competitive acquisitions shall contain? - ✔✔The government's requirement, the anticipated terms and conditions that will apply to the contract, the information required to be in the offeror's proposal, and factors that will be used to evaluate the proposal When is posting an RFQ on e-Buy required? - ✔✔When the order contains brand-name specifications In an acquisition plan, which of the following is a responsibility of the agency head (or the agency head's designee)? - ✔✔Promoting and providing for full and open competition For agencies delegated authority to establish new Federal Supply Schedules, what must the contracting officer do prior to establishing such a contract? - ✔✔Obtain approval from the GSA Federal Supply Service A contract for demolition of a public building, without any further construction work, is subject to which of the following? - ✔✔Only the Service Contract Labor Standards statute What is the difference between a personal services contract and a nonpersonal services contract? - ✔✔Under a personal services contract, the personnel rendering the services appear to be subject to government supervision and control A legal instrument in which a contractor guarantees performance of the contract, the obligations under the contract are assumed by a successor in interest, and the government recognizes the transfer of the contract and related assets is called what? - ✔✔Novation agreement Which of the following contract types would be most appropriate for acquisition of a commercial item if the contract was not awarded using competitive procedures? - ✔✔Firm-fixed-price When requesting information from potential sources in market research, what should agencies do? - ✔✔Request the minimum amount of information necessary Except for copyrighted works, what rights does the Government acquire in data first produced in the performance of a contract? - ✔✔Unlimited rights What is a CPSR and what is its purpose? - ✔✔Contractor Purchasing System Review; to evaluate the efficiency and effectiveness with which the contractor spends Government funds Which of the following is not a function of the General Services Administration? Authorizing other agencies to award schedule contracts, Management of U.S. Federal property, Managing schedule contracting for military items, Publicizing regulations governing acquisition of real property - ✔✔Managing schedule contracting for military items What is the purpose of first article testing and approval? - ✔✔To ensure that a contractor can furnish a product that conforms to all contract requirements for acceptance For research and development work performed under a cost-plus-fixed-fee contract, what is the maximum fee that may be negotiated? - ✔✔The contracting officer shall not negotiate a price or fee that exceeds the following statutory limitations]) For experimental, developmental, or research work performed under a cost-plus-fixed-fee contract, the fee shall not exceed 15 percent of the contract's estimated cost, excluding fee Which of the following is true about the priority of DPAS-rated orders? - ✔✔All DO rated orders have equal priority with each other and take preference over unrated orders. All DX rated orders have equal priority with each other and take preference over DO rated and unrated orders Which of the following is true about postaward notifications to offerors whose proposals were not selected for award? - ✔✔The notice must be provided within three days of contract award, and shall not contain the cost breakdown of any other offeror To the maximum extent practicable, FAR Part 37 requires the use of what for acquisitions of services? - ✔✔Performance-based acquisition When should the contracting officer charge interest on the balance of an advance payment? - ✔✔For all contracts, except when interest is excluded by statute or agency procedures When a make-or-buy program is required of a contractor, how should major items be categorized? - ✔✔"Must make," "must buy," or "can either make or buy" If The offeror is the firm that designed the project - ✔✔construction of a project not be awarded A contractor receives a refund relating to an allowable cost. What shall the contractor do with the applicable portion of the refund? - ✔✔The contractor may credit it to the Government either as a cost reduction or a cash refund Drawings submitted by a contractor to show the construction of a particular structure as actually completed under the contract are called what? - ✔✔Record drawings At the lowest level, who is directly responsible for reviewing an agency's contracting operations and identifying and reporting opportunities and actions taken to acquire commercial items to meet its needs? - ✔✔Agency advocate for competition Which of the following terms means a list of products that have been examined and tested, and have satisfied all applicable requirements? - ✔✔Qualified products list A contractor transfers its right to be paid by the Government for contract performance to a trust company. What is this called? - ✔✔Assignment of claims Which of the following is an inherently governmental function? - ✔✔Interviewing applicants for Federal employment What is buying-in? - ✔✔Submitting an offer below anticipated costs, expecting to increase the contract amount after award or to receive follow-on contracts at higher prices What are reasons to use a liquidated damages clause in a solicitation? - ✔✔The extent of the damage expected by the Government cannot be accurately estimated, Timely performance is so important that the Government will suffer damage if performance is delinquent, The Government may reasonably expect to suffer damage if the delivery is delinquent A contractor has made an invention under a Federal research and development contract. In which of the following cases may the contractor be required to assign title to the invention to the Government? - ✔✔A contract may require the contractor to assign to the Government title to any subject invention w]hen the contractor is not located in the United States or does not have a place of business located in the United States or is subject to the control of a foreign government" Except as authorized by law, what is the maximum term of contracts for services that are funded by annual appropriations? - ✔✔Until the end of the fiscal year of the appropriation If market research indicates that commercial or nondevelopmental items might not be available to satisfy agency needs, what shall the agency do? - ✔✔Reevaluate the need and determine whether the need can be restated to permit commercial or nondevelopmental items to satisfy the agency's need In which of the following cases may a time-and-materials contract be used? - ✔✔When it is not possible at the time of placing the contract to estimate the extent of the work To the maximum extent practicable, all contracts for the acquisition of commercial items shall include which clauses? - ✔✔Only those required to implement laws applicable to the acquisition of commercial items, or those determined to be consistent with customary commercial practice What is a required element in a Broad Agency Announcement? - ✔✔description of the agency's research interest, The criteria by which proposals will be selected, and The period of time during which proposals will be accepted When can an agency consider an unsolicited proposal on a sole source basis? - ✔✔proposal is for research, and justification and approval have been obtained Which FAR part specifies the definitions for words and terms that are to be used unless another FAR part provides a different definition for that part? - ✔✔Part 2 If the information collected is still current, accurate, and relevant, a contracting officer may use market research conducted up to how long before the award of a task or delivery order? - ✔✔18 months Which of the following contract types provides a base fee plus an additional amount which is based on a judgmental evaluation by the Government of the quality of contract performance? - ✔✔Cost-plus-award fee What is the preferred method of transporting supplies for the Government? - ✔✔Commercial carriers What is GSA Standard Form 30 (SF30)? - ✔✔Amendment of Solicitation/Modification of Contract A contractor under a construction contract provides the Government with a quantity of unitpriced items other than the quantity called for. Can the Government or the contractor demand an adjustment in the contract price? - ✔✔Yes, if the variation exceeds plus or minus 15 percent of the expected quantity What is the order of precedence among the 8(a) Program, HUBZone Program, Service-Disabled Veteran-Owned Small Business Procurement Program, and Women-Owned Small Business Program? - ✔✔There is no order of precedence Which of the following contract modifications needs to be signed by both the contractor and the contracting officer? - ✔✔An agreement definitizing a letter contract Which contract type places maximum risk and full responsibility for all costs and resulting profit or loss on the contractor? - ✔✔Firm-fixed-price Which of the following is a true statement about suspension and debarment? - ✔✔Debarment excludes a contractor from government contracting for a specified period, and suspension temporarily disqualifies a contractor from government contracting. Debarment is not permanent - ✔✔ What law governs the collection, maintenance, use, and dissemination of personally identifiable information about individuals that is maintained in systems of records by federal agencies? - ✔✔Privacy Act of 1974 What is an example of an exemption to a member of the public under the Freedom of Information Act? - ✔✔A statement made by a contracting officer to a mediator to resolve a dispute A contractor's arrangement to pay contingent fees for soliciting or obtaining Government contracts is considered contrary to public policy. Which of the following statements explains why? - ✔✔Such arrangements may lead to attempted or actual exercise of improper influence What is a Certificate of Competency? - ✔✔A Certificate of Competency (COC) is the certificate issued by the Small Business Administration (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? - ✔✔$35,000 Which of the following contract types allows for disallowing costs during the course of performance, after the costs have been incurred? - ✔✔"Cost-reimbursement contracts, the costreimbursement portion of fixed-price contracts, letter contracts that provide for reimbursement of costs, and time-and-material and labor-hour contracts provide for disallowing costs during the course of performance after the costs have been incurred." What is a CPSR and what is its purpose? - ✔✔The objective of a contractor purchasing system review (CPSR) is to evaluate the efficiency and effectiveness with which the contractor spends Government funds and complies with Government policy when subcontracting." Which of the following is true about acquisitions for which the World Trade Organization Government Procurement Agreement applies? - ✔✔The contracting officer must not include technical requirements in solicitations solely to preclude the acquisition of eligible products