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A comprehensive set of 250+ questions and answers for the 2025-2026 certified federal contracts manager (cfcm) exam. it covers key topics in federal contracting, including cost principles, contract types, and acquisition regulations. Ideal for students and professionals preparing for the cfcm exam, this resource offers valuable insights into the intricacies of government contracting.
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A cost is reasonable if, in its nature and amount, it does not exceed **ANS:-
** that which would be incurred by a prudent person in the conduct of competitive business. Advance Agreements should not be negotiated ANS:->>>after the incurrence of the costs involved. Under the Assignment of Claims Act, a contractor may assign moneys due or to become due under a contract if it meets all but which of the following? **ANS:- ** The contract specifies payments aggregating $100,000 or more. Individuals delegated micro-purchase authority do not need to be ANS:- appointed in an SF 1402 Advisory and assistance services are classified in all of the following subdivisions except ANS:->>>construction. A foreign end product may be purchased under the Buy American Act if ANS:- the price of the lowest domestic offer is determined to be unreasonable by the CO.
The threshold which must be exceeded before purchases of services become subject to the Service Contract Act is ANS:->>> $2, Which of the following examples is considered to be an inherently governmental function? ANS:->>> approving contractual documents If market research indicates commercial or nondevelopmental items might not be available to satisfy agency needs, agencies shall next: ANS:->>>determine whether the need can be restated to permit commercial or nondevelopmental items to satisfy the agency's needs. Which is NOT one of the seven exceptions to full and open competition? ANS:-
Approval by the Agency Head If the delivery schedule is based on the date of the contract, the contracting officer shall mail or otherwise furnish to the contractor the contract, notice of award, acceptance of proposal or other contract document ANS:->>>not later than the date of the contract. Liquidated damages are typically assessed ANS:->>>per calendar day. Cost Accounting Standards apply to commercial item contracts when they are ANS:->>>fixed price with economic price adjustment based on
In what FAR Part will you find rules and policy on foreign acquisitions? ANS:-
FAR Part 25 The Miller Act requires: ANS:->>>a performance and payment bond for construction contracts over $150, Under what type of contract might the seller never have to perform any services or provide any deliveries? ANS:->>> Requirements contract. A termination for convenience should not normally be issued if the undelivered balance of the contract is less than: ANS:->>>$5, Effective competition, as used in FAR Part 34, is a market condition that exists when ANS:->>> two or more contractors act independently and actively contend for the government's business. The total amount that can be paid for commercial advance payments cannot exceed of the contract price : ANS:->>> 15% When progress payments are authorized, what is the customary progress payment rate applicable to the total costs of performing the contract? **ANS:- ** 80%, 85% for contracts with small businesses
The Walsh-Healy Public Contracts Act pertains to such matters as minimum wages, maximum hours, child labor, convict labor, and safe and sanitary working conditions and applies to contracts for the manufacture or furnishing of materials, supplies, articles, and equipment in the United States in any amount exceeding ANS:->>> $15, A valid unsolicited proposal must : ANS:->>> be independently originated and developed by the offeror. Each acquisition of supplies or services that has an anticipated dollar value business concerns and shall be set aside unless the contracting officer appropriately determines otherwise. ANS:->>>$3,000; $150, Fast Payment Procedures are generally used when delivery must occur at a geographically separated location that would make it impractical to make timely payment based on evidence of government acceptance and the individual order does not exceed: ANS:->>> $30, Under FAR Part 14, Sealed Bidding, Bid Samples: ANS:->>> will be rejected for nonresponsiveness if the sample fails to conform to each of the exceeding and not exceeding is reserved exclusively for small
without getting the contractor's agreement. The contracting officer, responsible for consent of a subcontract, must at a minimum review the request and supporting data and consider the following: ANS:->>>is the decision to subcontract consistent with the contractor's approved make-or-buy program, if any? The requirement to obtain advance authorization for an invention used or manufactured by or for the Federal Government is covered by the ANS:-
North American Free Trade Act. To reduce the time required to solicit and award contracts for the acquisition of commercial items, the contracting officer may combine ANS:->>>the synopsis and the solicitation. In pricing changes to a contract, the threshold for obtaining cost and pricing data shall include ANS:->>>price increases and decreases. Cost realism analysis is the process of independently reviewing and evaluating specific elements of each offeror's proposal cost estimate to determine that the estimated proposed cost elements are consistent with The requirements of FAR Parts DO NOT apply to orders and BPAs placed under schedule contracts. - answer-FAR Parts 5, 6, and 19
the ANS:->>>methods of performance and materials described in the offeror's technical proposal. Unusual contract financing means financing that ANS:->>>the agency has not authorized its contracting officer to use without specific reviews or approvals by higher management. Which of the following is NOT an example of permissible contract financing? ANS:->>>Direct loans The Contracting Officer shall presume that all data delivered under a contract for commercial items ANS:->>>were developed exclusively at private expense. Which of the following is NOT true concerning Project Labor Agreements? ANS:->>> They prescribe wage rates for a single project. What is the Order of Precedence under the Uniform Contract Format? ANS:-
The Schedule — Contract Clauses — List of Documents, Exhibits, and Other Attachments — Representations and Instructions The SBA establishes small business size standards on an industry-by-industry basis and small business size standards are applied by ANS:->>>classifying the product or service being acquired in the industry whose definition, as
Which of the following is NOT a reason a contract may be amended or modified to correct or mitigate the effect of a mistake? ANS:->>>The mistake is solely on the contractor's part and reduced profit will result. After a termination for default, if the surety does NOT arrange for completion of the contract, the contracting officer will normally ANS:-
arrange for completion of the work by awarding a new contract based on the same plans and specifications. The government's preferred remedy when terminating a contract for a commercial item for cause will be ANS:->>>to acquire similar items from another contractor and to charge the defaulted contractor with any excess reprocurement costs. The government shares collateral value engineering savings with the contractor UNLESS the ANS:->>>cost of calculating and tracking collateral savings will exceed the benefits. What pricing threshold for responses to procurements requires a small business subcontracting plan as part of the offerors' submission? ANS:->>>$650, Government agencies shall maintain sound relationships with industry and labor in order to ANS:->>>receive information involving labor relations that
may affect the acquisition process. To avoid obsolescence, a modular contract for information technology should, to the maximum extent practicable, be awarded within days after the date on which the solicitation is issued. ANS:->>> 180 Concerning its disclosed or established cost accounting practices, a contractor ANS:->>>may change them unilaterally, but the government won't pay any resulting aggregate increase in cost. The Buy American Act uses a two-part test to define a "domestic end product": ANS:->>>components manufactured in the United States and a formula based on cost of domestic When an agency contracts for the operation of a system of records on individuals, under the Privacy Act, agencies or its officers/employees may be subject to ANS:->>>civil and criminal penalties. Agencies shall require offerors to identify used, reconditioned, or remanufactured supplies, or unused former government surplus property, proposed for use under the contract unless ANS:->>>the items being acquired are commercial items. If the apparently successful offeror fails to negotiate a subcontracting plan
providing for the suspension is ANS:->>>not feasible. Quality Assurance surveillance plans for government contracts should be prepared ANS:->>>in conjunction with the statement of work. "Patent defect" means any defect ANS:->>>which existed at the time of acceptance and could have been discovered by a reasonable inspection. The implied warranty of merchantability for commercial items acquired by the government provides that the item is reasonably fit for the ordinary purposes for which such items are used and the items must be ANS:->>>of at least average, fair or medium-grade quality.
Who is generally responsible for determining a subcontractor's responsibility? ANS:->>>The prime contractor. A unilateral modification is used to modify a contract to accomplish all of the following EXCEPT to ANS:->>>definitize letter contracts. When, after award, a contractor requests the use of special tooling or special test equipment, the contracting officer shall ANS:->>>obtain a fair rental or other adequate consideration if use is authorized. A special form of written approval by an authorized official that is required by statute or regulation as a prerequisite to making certain contract actions is called a(n): ANS:->>>Determination and Finding. The Davis-Bacon Act applies to contracts for construction, alteration, or repair of public buildings or public works within the United States. ANS:-
in excess of $2, The government shall apply a more dominant consideration of the technical or past performance in source selection when the ANS:->>>acquisition is considered to be a high performance risk.
According to FAR 8.4, Federal Supply Schedules, which of the following is correct? ANS:->>>The maximum order threshold of a schedule contract represents the point where the ordering activity shall seek a price reduction The ordering activity that has established a BPA shall review it at least once a year to determine all but which of the following: ANS:->>>The ordering activity still has a need for the BPA. The Privacy Act of 1974 protecting an individual's privacy must be applied when: ANS:->>>The contract is for the operation of a system of records on individuals The clause which permits the contracting officer to make unilateral changes, in designated areas, within the general scope of the contract is called the ANS:-
Changes Clause. The following FAR Parts constitute "acquisition methods" EXCEPT ANS:- FAR Part 12 Acquisition officials should state requirements with respect to an acquisition of supplies or services in terms of all of the following except ANS:->>>Mandatory Sources
The Government may authorize the acceptance of a variation in quantities delivered under a fixed-price supply contract. The variance amount should be based on normal commercial practices of a particular industry and generally should not exceed (Reference FAR 11.7) ANS:->>>10% Simplified acquisition procedures (SAP) are designed to (Reference FAR 13.002) ANS:->>>Promote efficiency and economy in contracting, Avoid unnecessary burdens for agencies and contractors. Reduce administrative costs SAP Policy does not apply if an agency can meet requirement using (Ref: FAR 13.003) ANS:->>>Required sources of supply under Part 8 (e.g., Federal Prison Industries, Committee for Purchase from People Who are Blind or Severely Disabled, and Federal Supply Schedule contracts) When soliciting competition, the CO shall consider (Ref: FAR 13.106-1) ANS:-
dollar value of the proposed purchase, electronic commerce method that employs widespread electronic public notice is not available, nature of the article or service to be purchased and whether it is highly competitive and readily available in several makes or brands, or is relatively noncompetitive. The CO must establish in accordance with FAR Part 13, 14, or 15, as applicable. (Reference FAR Part 13, 14, or 15) - answer-Price reasonableness
A Certificate of Competency is the certificate issued by stating that the holder is responsible (with respect to all elements of responsibility) for the purpose of receiving and performing a specific Government contract (Ref FAR 19.6) ANS:->>> Small Business Administration (SBA) A Woman-owned SB concern is at least owned by one or more women (Ref FAR 2.101) ANS:->>>51% Contract Work Hours and Safety Standards Act states that no laborer or mechanic shall be required or permitted to work more than hours a week unless paid time and a half. (Ref FAR 22.3) ANS:->>> 40 Contracting officers are required to submit SF 98 and 98a, Notice of Intention to Make a Service Contract and Response to Notice and Attachment A, to the Department of Labor for new service contracts anticipated to exceed as well as for modifications valued in excess of which either extend the period of performance (e.g. option clause) or change the scope of the contract to the extent that labor requirements are significantly affected. (Ref FAR 22.10) ANS:->>>$2, Labor Standards Construction Contracts are applicable to contracts greater than, for construction, alteration, or repair, including painting and decorating, of public buildings and public works. ANS:-
bid within the period specified for acceptance and will execute a written contract and furnish required bonds within the allotted time following award. (FAR 28.001) ANS:->>>Bid Guarantee