CFCM Final Exam 2024/2025 Questions with Complete Solution
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Course
CFCM - Certified Federal Contract Manager
Institution
CFCM - Certified Federal Contract Manager
CFCM Final Exam 2024/2025 Questions
with Complete Solution
CFCM Final Exam 2024/2025 Questions
with Complete Solution
A cash fund of fixed amount established by an advance of funds, for disbursement in
cash for relatively small amounts is called what? - Answer Imprest fund
A co...
CFCM Final Exam 2024/2025 Questions
with Complete Solution
, CFCM Final Exam 2024/2025 Questions
with Complete Solution
A cash fund of fixed amount established by an advance of funds, for disbursement in
cash for relatively small amounts is called what? - Answer ✓✓Imprest fund
A contract for demolition of a public building, without any further construction work, is
subject to which of the following? - Answer ✓✓Only the Service Contract Labor
Standards statute
A contract that is awarded using other than sealed bidding procedures is what? -
Answer ✓✓A negotiated contract
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? - Answer ✓✓A contract may require the contractor to
assign to the Government title to any subject invention w]hen the contractor is not
located in the United States or does not have a place of business located in the United
States or is subject to the control of a foreign government"
A contractor infringes on a copyright with the authorization of the Government. What
remedy is available to the copyright holder? - Answer ✓✓A suit for monetary damages
against the Government in the Court of Federal Claims
A contractor receives a refund relating to an allowable cost. What shall the contractor do
with the applicable portion of the refund? - Answer ✓✓The contractor may credit it to
the Government either as a cost reduction or a cash refund
A contractor transfers its right to be paid by the Government for contract performance to
a trust company. What is this called? - Answer ✓✓Assignment of claims
A contractor under a construction contract provides the Government with a quantity of
unit-priced items other than the quantity called for. Can the Government or the
contractor demand an adjustment in the contract price? - Answer ✓✓Yes, if the
variation exceeds plus or minus 15 percent of the expected quantity
A contractor's arrangement to pay contingent fees for soliciting or obtaining Government
contracts is considered contrary to public policy. Which of the following statements
explains why? - Answer ✓✓Such arrangements may lead to attempted or actual
exercise of improper influence
A failure in estimating, accumulating, or reporting costs to comply with applicable cost
accounting standards is called what? - Answer ✓✓Noncompliance
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