CFCM Exam Practice Test
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
...
CFCM Exam Practice Test
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
Size Standards - ✔✔FAR 19.102(b)(3): "(Small business size standards are applied by)
Specifying the size standard in the solicitation so that offerors can appropriately represent
themselves as small or large"
When may an agency be required to use simplified acquisition procedures? - ✔✔When the value
of the contract is $100,000
How is the publication of a paid advertisement in a newspaper authorized? - ✔✔FAR 5.502
"Authority to approve the publication of paid advertisements in the newspaper is vested in the
head of each agency. This approval authority may be delegated" Must be a written authorization
from the head of the agency.
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 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.
This is not a method for simplified acquisition - ✔✔Advanced Agreement
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 rec
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