CFCM Practice Exam

CFCM Practice Exam 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 What law ...

CFCM Practice Exam 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 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 Which of the following is not a required element in a Broad Agency Announcement? - ✔✔An estimate of the level of effort required **IS** A description of the agency's research interest The criteria by which proposals will be selected The period of time during which proposals will be accepted 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? - ✔✔The contractor does not have a place of business in the United States Which of the following contract types is generally used to acquire construction? - ✔✔Firmfixed-price 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 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 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 Which of the following is true about acquisitions for which the World Trade Organization Government Procurement Agreement applies? - ✔✔ For research and development work performed under a cost-plus-fixed-fee contract, what is the maximum fee that may be negotiated? - ✔✔15 percent of the contract's estimated cost, excluding fee Which of the following does not justify the use of emergency acquisition flexibilities? - ✔✔The acquisition is to replace Government property that was involved in a crime Correct *DOES* a. The acquisition is in support of a contingency operation c. The acquisition is to facilitate the defense against a nuclear attack against the United States d. The President has issued a major disaster declaration Which of the following is not a function of the General Services Administration? - ✔✔b. Managing schedule contracting for military items Correct *IS* a. Authorizing other agencies to award schedule contracts c. Management of U.S. Federal property d. Publicizing regulations governing acquisition of real property Which of the following is not an example of information technology? - ✔✔c. A building's digital thermostat Correct *IS* a. Software development b. A computer hard drive d. A modem 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." When is consent to subcontract generally required? - ✔✔When the contractor has an approved purchasing system 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 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 MO 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 Which FAR Part prescribes policies and procedures unique to the acquisition of commercial items? - ✔✔12 Which of the following contract modifications needs to be signed by both the contractor and the contracting officer? - ✔✔An agreement definitizing a letter contract In which FAR Part is the Uniform Contract Format outlined? - ✔✔15 Which of the following is not a method for simplified acquisition? - ✔✔c. Advance agreement Correct *is* a. Governmentwide commercial purchase card b. Blanket purchase agreement d. Purchase order In which of the following cases may an agency be required to use simplified acquisition procedures? - ✔✔When the value of the contract is $100,000 Which of the following is a technique used to promote the early exchange of information with industry? - ✔✔Market Research 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 Standard Form 44 is also known as what? - ✔✔Purchase Order—Invoice—Voucher In general, which of the following methods of contract financing is least preferred by the Government? - ✔✔Advance payment Which of the following is an inherently governmental function? - ✔✔Interviewing applicants for Federal employment hen 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 Which of the following is true about postaward notifications to offerors whose proposals were not selected for award? - ✔✔ 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 What is the preferred method of transporting supplies for the Government? - ✔✔Commercial carriers 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 When is posting an RFQ on e-Buy required - ✔✔When the order contains brand-name specifications 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 obtaining of opinions, special knowledge, or skills from noted experts would be included in what kind of service? - ✔✔Advisory and assistance service Which of the following public relations or advertising costs would be unallowable? - ✔✔a. Responding to inquiries on company policies Incorrect b. Providing a tour or open house of a facility c. Participating in community service activities d. Hosting a ceremony to announce a new product Which of the following terms means a list of products that have been examined and tested, and have satisfied all applicable requirements? - ✔✔Qualified Products 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? - ✔✔FFP Drawings submitted by a contractor to show the construction of a particular structure as actually completed under the contract are called what? - ✔✔Record Drawings A defense subcontractor provides a gift of vehicles to a prime contractor, and in return the prime contractor awards the subcontractor a valuable military subcontract. Which of the following is true? - ✔✔The prime contractor and the subcontractor are subject to civil and criminal penalties Which of the following is not a reason to use a liquidated damages clause in a solicitation? - ✔✔"Use liquidated damages clauses only when the time of delivery or timely performance is so important that the Government may reasonably expect to suffer damage if the delivery or performance is delinquent, and the extent or amount of such damage would be difficult or impossible to estimate accurately or prove." 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 Except for copyrighted works, what rights does the Government acquire in data first produced in the performance of a contract? - ✔✔Unlimited rights What can a contractor access online at www.fedbizopps.gov? - ✔✔The governmentwide point of entry The process of establishing a reasonable amount to be paid for supplies or services is called what? - ✔✔PRicing A failure in estimating, accumulating, or reporting costs to comply with applicable cost accounting standards is called what? - ✔✔Noncompliance 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 Except with the approval of the head of the agency, in which of the following cases shall a contract for construction of a project not be awarded? - ✔✔The offeror is the firm that designed the project