CFCM BUNDLED exams 2023 with 100% correct answers

How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? Every 5 years A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actionsi s defined as a determina...

CFCM Practice Exam 2023 with 100% correct answers

A cost is reasonable if, in its nature and amount, it does not exceed that which would be incurred by a prudent person in the conduct of competitive business. Advance Agreements should not be negotiated after the incurrence of the costs involved. Under the Assignment of Claims Act, a...

The FAR requires agencies to report bids or proposal that Show evidence of an industry pricelist The practice of submitting an unrealistically low bid with the expectation of recouping the loss on change orders or subsequent business buying-in Government contractors must have a writt...

"Commercial Item" under FAR Part 12 (for MCQs)? 1. Any item, other than real property, that is of a type customarily used by the general public or by non-governmental entities for purposes other than governmental purposes, and— (i) Has been sold, leased, or licensed to the general public; or ...

How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? (a) Annually (b) Bi-annually (c) Every five years (d) Only as required (c) Every five years (FAR 1.109) A form of written approval signed by an authorized official that is required by stat...

The FAR is prepared, issued, and maintained by: a. The Executive Office of the President. b. The Office of Management and Budget and the General Services Administration. c. The Secretary of Defense, the Administrator of General Services, and the Administrator of the National Aeronautics and Space...

The Federal Acquisition System was established for the codification and publication of uniform policies and procedures for acquisition by all legislative agencies. True or False? False. " . . .for acquisition by all EXECUTIVE agencies." What is the primary document (and agency regulations ...

A pre-bid conference may be used for the following purposes except? The correct answer is: as a substitute for amending a defective or ambiguous invitation. ________________ provides for upward or downward revision of the state contract price upon occurrence of specified contingencies Fixed...

Contracting Officers below the level of _________ shall be selected and appointed. Head of Contracting Activity The simplified acquisition threshold for any contract in support of contingency operations to be awarded and performed, or purchase to be made, outside of the U.S. is ____________ ...

The FAR is prepared, issued, and maintained by: a. The Executive Office of the President. b. The Office of Management and Budget and the General Services Administration. c. The National Contract Management Association. d. The Secretary of Defense, the Administrator of General Services, and the A...

The Federal Acquisition Regulations System is established for... the codification and publication of uniform policies and procedures for acquisition by all executive agencies. The vision for the Federal Acquisition System is to... deliver on a timely basis the best value product or service ...

Which of the following is NOT defined as government property? (a) Government-furnished property (b) Contractor-acquired property (c) Property owned by or leased to the government or acquired by the government under the terms of the contract (d) Surplus property (d) Surplus property (FAR 45.1...