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A pre-bid conference may be used for the following purposes? As means of briefing prospective bidders, briefing prospective bidders and explaining complicated specification ____________ provides for upward or downward revisions of the state contract price upon occurrence of specification con...

FAR Part 32 prescribes policies and procedures for contract financing and other payment matters, including -payment methods, partial, progress pmts based on % or stage of completion -loan guarantees, advance pmts, progress pmts based on costs -administration of debts to govt arising out of contr...

Performance-base acquisition offers __________, which can be used to adjust payment to reflect the degree of performance success and to motivate superior performance incentives ___________ contracts are characterized by the employer-employee relationship it creates between the Government and...

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? A) Paperwork Reduction Act B) Federal Records Act C) Freedom of Information Act D) Privacy Act of 1974 ...

CFCM Study Questions and answers 2024

Why was the Federal Acquisition Regulations System established? The Federal Acquisition Regulations System is established for the codification and publication of uniform policies and procedures for acquisition by all executive agencies. (FAR 1.101) What does the Federal Acquisition Regulatio...

FAR Part 1 Contracting Authority and Responsibility FAR Part 2 Definition of Words and Terms FAR Part 3 Improper Business Practices/Personal Conflicts of Interest FAR Part 4 Administrative Matter FAR Part 5 Publicizing Contract Actions FAR Part 6 Competition ...

Certificate of Competency issued by the SBA stating that the holder is responsible for the purpose of receiving and performing a specific government contract (FAR 19.601(a)) Except as specifically permitted by executive agencies, the fast payment procedure may not be used for individual purc...

1) If a policy, procedure, strategy, or practice is in the best interest of the government and is not specifically addressed in the FAR or prohibited by law, executive order, or regulation government members of the team ________________. a. Should not even consider it as an option b. Should not ...

Options for increased quantities of supplies/services may NOT be expressed in terms of a) percentage of specific line items. b) increase in specific line items. c) additional numbered line items. d) a range of quantities for various line items. d) a range of quantities for various line items....

CFCM Week 5 Questions and answers(latest update.

CFCM Practice Test Questions and answers(latest update)

For a contract with which of the following would the DCAA generally not be the responsible audit agency? An educational institution What is the primary purpose of a postaward orientation? To achieve a clear and mutual understanding of all contract requirements and identify and resolve poten...

KOs shall distribute copies of contracts or mods within 10 working days after execution by all parties. As a minimum, the KO shall -- (a) Distribute simultaneously 1 signed copy or reproduction of the signed contract to the contractor and the paying office; (b) When a contract is assigned to ano...