Cfcm 8 - Study guides, Class notes & Summaries

©THEBRIGHT EXAM STUDY SOLUTIONS 8/21/2024 8:36 PM CFCM Study Guide: FULL TEST Exam Questions With Correct Answers Which of the following statements is NOT true? a. The government encourages the maximum practicable commercial use of inventions made under government contracts. b. The government recognizes rights in data developed at private expense, and limits its demands for delivery of that data. c. The government requires that contractors obtain permission from copyright owners before ...

©THEBRIGHT EXAM STUDY SOLUTIONS 8/21/2024 8:36 PM CFCM Practice Test Questions With Correct Answers How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? - answerEvery 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 - answerdetermination and findings Contracting officers below the level of ___ shall be selected and ...

CFCM Practice Exam All Answers Correct Key Procurement Concepts and Answers 1. Certificate of Competency: - A certificate issued by the Small Business Administration (SBA) stating that the holder is responsible for the purpose of receiving and performing a specific Government contract. 2. Freedom of Information Act (FOIA): - This law specifies how agencies must make their records available upon public request, imposes strict time standards for responses, and exempts certain records fr...

CFCM Practice Test Questions All Answers Correct 1. Adjustment of Statutory Acquisition-Related Dollar Thresholds: - Statutory dollar thresholds in the FAR are adjusted for inflation every 5 years. ️ 2. Determination and Findings: - A form of written approval, signed by an authorized official, required as a prerequisite for certain contract actions. ️ 3. Contracting Officer Appointments: - Contracting officers below the level of a head of a contracting activity shall be selected and ...

CFCM Final Exam Questions All Answers Correct 1. What is a critical event that requires immediate attention in a hospital setting? Answer: A sentinel event. 2. What is the primary goal of a corporate compliance program? Answer: To ensure compliance with laws and regulations. 3. How can nursing staff securely send text messages to attending physicians? Answer: By encrypting the text messages during transmission. 4. What controls should be in place to prevent a security breach when a...

CFCM Exam Practice Test Graded A+ 1. Certificate of Competency: - A certificate issued by the Small Business Administration (SBA) stating that the holder is responsible for receiving and performing a specific Government contract. ️ 2. Fast Payment Procedure Limitation: - Except as specifically permitted, the fast payment procedure may not be used for individual purchasing instruments exceeding $35,000. ️ 3. Government Wide Point of Entry: - Contractors can access information about...

Certified Federal Contracts Manager (CFCM) Federal Procurement and Contracting Principles 1. Cost Reasonableness: - A cost is considered 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. ️ 2. Advance Agreements: - Advance agreements should not be negotiated after the costs have been incurred. ️ 3. Assignment of Claims Act: - A contractor may assign moneys due under a contract if it me...

CFCM EXAM ALREADY GRADED A+ 1. Acquisition: - The process of acquiring, by contract with appropriated funds, supplies or services (including construction) for the Federal Government through purchase or lease, whether existing or needing to be created, developed, demonstrated, and evaluated. 2. FAR Part 2: - This section contains the definitions of words and terms used throughout the Federal Acquisition Regulation. 3. When Does Acquisition Begin? - Acquisition begins at the point wh...