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CFCM Study Guide: FULL TEST QUESTIONS UPDATED VERSION, Exams of Advanced Education

Cheyney University of PennsylvaniaAdvanced Education

CFCM Study Guide: FULL TEST QUESTIONS UPDATED VERSION

Typology: Exams

2025/2026

Available from 06/02/2026

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CFCM Study Guide: FULL TEST QUESTIONS
UPDATED VERSION
1. 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 copy-
right owners before including copyrighted works, owned
by others, in data to
be delivered to the government.
d. Generally, the government will refuse to award a contract on the
grounds
that the prospective contractor may infringe a patent.: d. Generally,
the government will
refuse to award a contract on the grounds that the prospective contractor
may infringe a patent.
FAR
27.102
2. Performance and payment bonds are required or may be required
for
a.construction contracts and services and supply contracts
exceeding $2,000.
b. construction contracts exceeding $150,000.
c.
any contract for services,
d. construction contracts exceeding $150,000 and services and
supply con- tracts exceeding the SAT when necessary to protect the
governments inter-
ests.:
d.
construction
contracts
exceeding
$150,000
and
services
and
supply
contracts
exceeding
the
SAT
when necessary to protect the governments interests.
FAR
28.102-1(a),
28.103-1(a),
28.103-2(a)
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CFCM Study Guide: FULL TEST QUESTIONS

UPDATED VERSION

  1. 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 copy- right owners before including copyrighted works, owned by others, in data to be delivered to the government. d. Generally, the government will refuse to award a contract on the grounds that the prospective contractor may infringe a patent.: d. Generally, the government will refuse to award a contract on the grounds that the prospective contractor may infringe a patent. FAR 27.
  2. Performance and payment bonds are required or may be required for a. construction contracts and services and supply contracts exceeding $2,000. b. construction contracts exceeding $150,000. c. any contract for services, d. construction contracts exceeding $150,000 and services and supply con- tracts exceeding the SAT when necessary to protect the governments inter- ests.: d. construction contracts exceeding $150,000 and services and supply contracts exceeding the SAT when necessary to protect the governments interests. FAR 28.102-1(a), 28.103-1(a), 28.103-2(a)

2 /

  1. Cost Accounting Standards Board rules and regulations apply to a. negotiated contracts and subcontracts. b. sealed bid contracts. c. contracts with small business concerns. d. bridge contracts.: a. negotiated contracts and subcontracts. FAR 30.
  2. The head of the agency may waive the applicability of Cost Accounting Standards (CAS) for a particular contract or subcontract when one of these conditions exists: a. The contract or subcontract is less than $50 million, primarily engaged in the sale of commercial items, and has no contracts/subcontracts subject to CAS. b. The contract or subcontract is less than $15 million, primarily engaged in the sale of commercial items, and has no contracts/subcontracts subject to CAS. c. The contract or subcontract is less than $7.5 million, primarily engaged in the sale of commercial items. d. The contract or subcontract is less than $5 million, primarily engaged in the sale of commercial items, and has no contracts/subcontracts subject to CAS.: b. The contract or subcontract is less than $15 million, primarily engaged in the sale of commercial items, and has no contracts/subcontracts subject to CAS. FAR 30.201- 5
  3. Which of the following statements about advance agreements is NOT true? a. Advance agreements may only be negotiated with a particular contractor for a single contract. b. Advance agreements may be negotiated either before or during a contract.

4 / level. FAR 33.

  1. After receiving the GAO's written notice that a protest has been filed, an agency must give notice a. of the protest to the contractor or all parties who appear to have a reason- able prospect of receiving an award. b. of the protest only to the prime contractor performing the work. c. of the protest to all parties who appear to have a reasonable prospect of receiving award and begin compiling the information necessary to report to the GAO. d. through a government-wide point of entry (GPE).: a. of the protest to the contractor or all parties who appear to have a reasonable prospect of receiving an award. FAR 33.
  2. Does a $75,000 claim resulting from a reduction of $350,000 and an in- crease of $275,000 require certification? a. No, because the claimed amount is less than $100,000. b. Yes, because the aggregate value of the claim exceeds $100,000. c. No, because the claimed amount is less than $500,000. d. Yes, because the aggregate value of the claim exceeds $500,000.: b. Yes, because the aggregate value of the claim exceeds $100,000. FAR 33.207(d)
  3. Protests may be filed with a. either the agency or the GAO. b. the agency, the GAO, or the U.S. Court of Claims. c. either the contracting officer or the U.S. Court of Federal Claims. d. Small Claims Court for awards under the SAT.: b. the agency, the GAO, or the U.S. Court of Claims.

5 /

FAR 33.

  1. Who can authorize continued performance in the face of a protest after award? a. the chief of the contracting office b. the CO, provided his findings are documented in the file. c. the head of the contracting activity. d. the commanding officers.: c. the head of the contracting activity. FAR 33.104(c)(2)
  2. The CO shall consider all protests and seek legal advice a. only if protests are received after award and filed directly with the agency. b. only if the protest is received after award and filed directly with the GAO. c. whether protests are submitted before or after award. d. whether protests are submitted before or after award and whether filed directly with the GAO, the U.S Court of Claims, or the agency.: d. whether protests are submitted before or after award and whether filed directly with the GAO, the U.S Court of Claims, or the agency. FAR 33.
  3. A protest based upon improprieties in a solicitation must be filed before bid opening or the closing date for receipt of proposals. in all other cases, protests must be filed a. within 10 calendar days of the time the protester knew or should have known of the basis of the protest, whichever is earlier. b. within 100 calendar days of the time the protester knew or should have known of the basis of the protest, whichever is earlier. c. within 5 days after a debriefing date to the other offerors. d. within 15 days before the acceptance of offers.: a. within 10 calendar days

7 /

FAR 38.

  1. Contracts to acquire information technology systems in successive interop- erable increments are known as a. multiyear. b. successive. c. modular. d. alpha.: c. modular. FAR 39.
  2. Prior to entering into a contract for information technology, an agency should analyze a. features, risks and cost. b. technical capabilities, risks, and cost. c. technical capabilities, benefits, and cost. d. risks, benefits, and cost.: d. risks, benefits, and cost. FAR 39.
  3. The following are examples of types of risk for the acquisition of informa- tion technology EXCEPT a. technical obsolescence. b. technical feasibility. c. contract administration. d. dependencies between a new project and other projects or systems.: c. contract administration. FAR 39.
  4. Subject to the fiscal regulations of the agencies and applicable interagency agreements, the requesting agency shall reimburse the servicing agency for rendered contract administration and audit services in accordance with the

8 / a. Service Contract Labor Standards statute (Service Contract Act of

b. current fiscal year appropriations. c. Economy Act (31U.S.C. 1535). d. Federal Contract Administration Act: c. Economy Act (31U.S.C. 1535). FAR 42.002(b)

  1. Which of the following is NOT true with regard to production surveillance? a. In conducting production surveillance, the CAO personnel are prohibited from using contractor production control or data management systems. b. The purpose of production surveillance is to determine contractor progress and to identify any factors that may delay performance. c. Production surveillance involves government review of contractor perfor- mance plans, schedules, controls, and industrial processes and the actual performance under them. d. Contracts at or below the SAT should not normally require production surveillance.: a. In conducting production surveillance, the CAO personnel are prohibited from using contractor production control or data management systems. FAR 42.1101, 42.1104(a-c)
  2. Which of these is NOT a normal function of a contract administration office? a. reviewing the contractor's compensation structure and insurance plans. b. conducting post-award orientation conferences. c. assisting the contractor in management of its subcontractors. d. determining the contractor's compliance with Cost Accounting Standards: c. assisting the contractor in management of its subcontractors.

10 / d. may be unilaterally determined by the contracting officer.: b. are established by a single agency and are binding on all agencies unless otherwise specifically prohibited. FAR 43.

  1. Which of the following is NOT true with respect to suspension of work or stop work orders? a.The contracting officer may order a suspension of work for a reasonable pe- riod of time under a construction or architectural and engineering contract. b. Stop work order is approved at a level higher that the contracting officer. c. Stop work orders are applicable to any negotiated fixed-price or cost-reim- bursement supply, research, development, or service contract. d. Government delay of work may be used as a justification for the contracting officer to order a suspension.: d. Government delay of work may be used as a justification for the contracting oflcer to order a suspension. FAR 42.1302, 42.1303, 42.
  2. 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 govern- ment under the terms of the contract. d. intellectual property and software.: d. intellectual property and software. FAR 45.
  3. A person holding himself or herself out to the general public to provide transportation for compensations is a

11 / a. contract carrier. b. universal carrier. c. common carrier. d. commercial carrier.: c. common carrier.

CFCM Study Guide: FULL TEST 13 / the expense.: a. by acting as a self-insurer.

CFCM Study Guide: FULL TEST 14 / FAR 46.803(a)

  1. A contract should not normally be terminated for convenience but should be permitted to run to completion when the price of the undelivered balance of the contract is less than a. $25,000. b. $1,000. c. $5, d. $10,000: c. $5, FAR 49.101(c)
  2. What is the heart of a settlement for a contract terminated for conve- nience? a. strict accounting principles b. business judgement. c. a payment for the work done and also preparation for work on the termi- nated portions. d. a strict determination of consequential damages and anticipatory profits.: b. business judgement. FAR 49.201(a)
  3. 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 5 years FAR 1.

16 / b. the Secretary of the Army

17 / c. the contracting officer d. the contracting specialist: c. the contracting oflcer FAR 1.108(f)

  1. Unauthorized commitments are agreements that are NOT binding soley because a. the agreement is not made in the best interests of the government b. all requirements of executive orders were not followed in their develop- ment c. the supplies or services are not ultimately acceptable to the government and the government will not obtain benefit d. the government representative who made the agreement lacked the au- thority to enter into it: d. the government representative who made the agreement lacked the authority to enter into it FAR 1.
  2. The simplified acquisition threshold for any contract in support of contin- gency operations to be awarded and performed, or purchase to be made, outside the U.S. is a. $150, b. $300, c. $1 million d. $1.5 million: c. $1 million FAR 2.
  3. Which of the following is a commercial item? a.A nondevelopmental item, if the procuring agency determines the item was developed exclusively at private expense and sold in substantial quantities, on a competitive basis, to multiple state and local governments. b. An item that evolved from an item that has not been sold to the

19 / public. c. A commercial item that has received modifications not available in the commercial marketplace. d. A nondevelopmental item used exclusively for government purchases.: a. A nondevelopmental item, if the procuring agency determines the item was developed exclusively at private expense and sold in substantial quantities, on a competitive basis, to multiple state and local governments. FAR 2.

  1. Consolidating two or more requirements for supplies or services, previous- ly provided or performed under separate small contracts, into a solicitation for a single contract that is likely to be unsuitable for award to a small business concern is defined as a. combining b. consolidating c. bundling d. mixing: c. bundling FAR 2.
  2. Which of the following are included in the definition of "contracts"? a. awards and notices of awards and grants b. letter contracts and cooperative agreements c. letter contracts and job orders d. blanket purchase agreements and imprest funds: c. letter contracts and job orders FAR 2.
  3. The government can minimize the opportunity for "buying in" by using which of the following techniques: a. simplified acquisition procedures

20 / b. priced options, amortization of nonrecurring costs, and simplified acquisi- tion procedures