CFCM EXAM BUNDLE(COMPLETE BUNDLE)Winter Week 10 Quiz Questions and Answers (Graded A+)

How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? - ANSWER-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 - ANSW...

What is a Certificate of Competency? - ANSWER-A certificate issued by the SBA stating that the holder is responsible, for the purpose of receiving and performing a specific Government contract What law specifies how agencies shall make their records available upon public request, imposes strict t...

Contracting Officers below the level of _________ shall be selected and appointed. - ANSWER-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 _________...

What is a Certificate of Competency - ANSWER-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 ind...

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

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 Spa...

Commercial Item" under FAR Part 12 (for MCQs)? - ANSWER-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...

Certificate of Competency - ANSWER-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 ...

The contracting officer to the extent Practicable provide maximum participation to small biz,sdvosb, vosb, hub zone , women owned. Contracting officers must take the following steps. - ANSWER-1. Plan an acquisition for more then one small business concern e issuing solicitation, make an effort to fi...

With respect to proposal evaluations, solicitations for simplified acquisitions are: - ANSWER-not required to state the relative importance of each evaluation factor and subfactor. Performance-based acquisition offers __________, which can be used to adjust payment to reflect the degree of perfor...

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