Understanding Unauthorized Commitments and Contract Procedures in Government Acquisition, Exams of Nursing

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CFCM Practice Test Questions and answers graded A+ 2024 exam 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 - answer-determination and findings Contracting officers below the level of shall be selected and appointed - answer-a head of a contracting activity According to the FAR conventions at Subpart 1.1, each authority is delegable unless - answer-specifically stated otherwise CFCM Practice Test Questions and answers graded A+ 2024 exam When an imperative sentence directs action in the FAR, who is responsible for the action unless another party is expressly cited? - answer-the CO Unauthorized commitments are agreements that are NOT binding solely because - answer-the government representative who made the agreement lacked the authority to enter into it 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 united states is - answer-1 million Commercial Item - answer-A non developmental 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 CFCM Practice Test Questions and answers graded A+ 2024 exam Contractor representations and certifications - answer- are submitted through the System for Award Management Agencies must implement OMB guidance for personal identity verification when - answer-contractors have routine physical access to either a federally controlled facility or information system. Dollar threshold for public announcement of contract awards - answer-$4,000,000 Acceptable methods for disseminating information on proposed contract actions include - answer- announcements in magazines at no cost, assisting a local trade association in disseminating information to their members, and synopsis in the government wide point of entry What is the minimum response time for receipt of bids or proposals for noncommercial item solicitations - CFCM Practice Test Questions and answers graded A+ 2024 exam answer-30 days from the date of publication of a proper notice of intent to contract The contracting officer's certification can serve as approval of the justification for other than full and open competition for a proposed contract NOT exceeding - answer-$700,000 FAR Part 6, "Competition Requirements," applies to which of the following? - answer-A $1M contract for services The contracting officer may use competitive proposals in lieu of sealed bids if - answer-it is necessary to conduct discussions If other than full and open competition is anticipated, the acquisition plan must be coordinated with the cognizant - answer-competition advocate CFCM Practice Test Questions and answers graded A+ 2024 exam Acquisition planning should begin - answer-as soon as the agency need is identified The specific content of acquisition plans will vary, and are influenced primarily by which factors - answer-the nature, circumstances, and stage of the acquired Market research may indicate that bundling is necessary and justified if - answer-the gov would derive mesurably substantial benefits The Federal Supply Schedule program provides federal agencies with a simplified process for obtaining commonly used commercial supplies and services at prices associated with volume buying. It is directed and managed by the - answer-GSA Which of the following is the name of GSA's electronic system that allows ordering activities to post requirements, obtain quotes, and issue orders electronically? - answer-ebuy CFCM Practice Test Questions and answers graded A+ 2024 exam To the maximum extent practicable, acquisition officials should state all of the following requirements with respect to an acquisition of supplies or services, with the exception of - answer-preference for commerical or nondevelopmenal items **They should state: functions, performance required, and physical characteristics A contractor is awarded 4 separate contracts on the same day. - One contract is rated "DO" and has a final delivery date (FDD) in 60 days - One is rated "DX" and has an FDD in 40 days - One is "DO" and has FDD in 10 days - One is unrated and has an FDD in 15 days. What is the order of priority - answer-1. DX 2. Both DO's have same priority CFCM Practice Test Questions and answers graded A+ 2024 exam 3. Unrated Contracting activities shall employ simplified acquisition procedures to the maximum extent practicable for acquisitions of commercial items not exceeding - answer-$7M Unless otherwise provided, agencies shall use which of the following contract type for the acquisition of commercial items - answer-Firm-Fixed-Price or Fixed- Price with economic price adjustment contracts Cost Accounting Standards - answer-do not apply to contacts and subcontracts for commercial acquisition unless the contract provides for an economic price adjustment based on actual cost incurred When acquiring commercial items, the contracting officer - answer-must establish price reasonableness in accordance with FAR 13.106-3, 14.408-2, or Subpart 15.4, as applicable CFCM Practice Test Questions and answers graded A+ 2024 exam A system whereby the contracting officer receives authorization from a fiscal and accounting officer to obligate funds purchased documents against a specified lump sum of funds reserved for a specified time rather than obtaining individual obligation authority on each purchase document is - answer-bulk funding When considering a simplified acquisition, which database should contracting officers use as their primary source of vendor information? - answer- System for Award Management, SAM When using the governmentwide commercial purchase card as a method of payment, COs need to verify a contractor's delinquent debt status in SAM database when those purchases are - answer-above the micro puchase threshold CFCM Practice Test Questions and answers graded A+ 2024 exam Which of the following is true concerning the use of simplified acquisition procedures - answer-Purchases above the micro-purchase level are generally set-aside for small businesses Unpriced purchase orders may be used to acquire - answer-repairs to equipment requiring disassembly to determine the nature and extent of repairs Which of the following about micro-purchases is true - answer-The government wide commercial purchase card is the preferred means to purchase and pay for them Which of the following is true about quotes - answer-A quote is not an offer Which of the following concerning descriptive literature is true - answer-The CO may waive the requirement for descriptive literature CFCM Practice Test Questions and answers graded A+ 2024 exam Which of the following is NOT true regarding awards resulting from an invitation for bids? - answer-faxed bids are always welcomed IS TRUE: bidders must accept all terms and conditions, bidders must comply with all material aspects of the invitation, bids must be received by the exact time of the bid opening A pre-bid conference is never to be used for - answer- substituting an amendment for an ambiguous invitation *Should be for answering industrys questions, explaining requirements, and conducting market research THe first step of two-step bidding involves - answer- technical analysis only CFCM Practice Test Questions and answers graded A+ 2024 exam What is acceptable evidence to establish the time of receipt at the government installation - answer-time/date stamp of that installation on the bid wrapper Which is NOT a reason to reject a bid - answer-The schedule contains an apparent clerical mistake Which of the following concerning electronic bids is true - answer-Contracting officers may authorize use of electronic commerce for bids, but must specify the electronic commerce method that bidders may use Which of the following contract types may be used with sealed bidding procesures - answer-firm fixed price and sometime fixed price with economic price adjustment In a case where equal low bids are received in response to an invitation for bids, which category of bidder is given the highest priority for aware - answer- small CFCM Practice Test Questions and answers graded A+ 2024 exam The contractor is required to submit certified cost and pricing data for subcontracts that are - answer-the lower of either 13.5M or values at more than both the pertinent cost or pricing threshold and more than 10% of the prime contractor's price Communication with an offeror for the sole purpose of eliminating minor irregularities, informalites, or apparent clerical mistakes in the proposal is called - answer-clarification A proposal may be withdrawn - answer-by written notice at any time before award A certificate of current cost or pricing data - answer- does not constitute a representation as to the accuracy of the contractor's judgement on the estimate of future costs or projections CFCM Practice Test Questions and answers graded A+ 2024 exam If defective pricing is discovered after award - answer- the gov is entitled to a price adjustment of any significant amount Pre-award debriefings shall NOT disclose - answer-the number of offerors The least preferred method of submitting ideas/concepts to the gov is - answer-unsolicited proposals In response to a widely publicized solicitation for a noncommerical item, a CO only recieved one offer. The offer is a FFP $1M, which is the same price for a similar item recently purchased by another agency under a contract that resulted from adequate price competition. Which of the following is correct? - answer-The proposed price is reasonable in comparison to a rent price for a similar item, certified cost and pricing data is not required. CFCM Practice Test Questions and answers graded A+ 2024 exam The contract types are grouped into two broad categories - answer-Fixed price and cost reimbursement A contract that provides for upward and downward revision of the stated contract price upon the occurrence of specified contingencies is referred to as - answer-fixed price contract with economic price adjustment A cost-reimbursement contract that provides for an initially negotiated fee to be adjusted later by a formula based on the relationship of total allowable costs to total target costs is known as a - answer-cost- plus incentive fee contract There are three types of indefinite delivery contracts: - answer-1. Definite-quantity contracts 2. requirements contracts 3. indefinite quality contracts CFCM Practice Test Questions and answers graded A+ 2024 exam Contractors are required to perform all gov contracts, so far as is practicable without using overtime, EXCEPT when - answer-overtime is necessary to meet urgent program needs and will result in a lower overall cost to the gov The contract work hours and safety standards statute (Act) requires which of the following - answer- Contractors and subcontracts on covered contracts shall pay laboreror and mechanics employed in the performance of the contracts one and one half times their basic rate of pay for all hours worked over 40 Which of the following is not true concerning project wage determinations? - answer-They are effective for 90 calendar days ** is TRUE** they are issued at the specific request of a contracting agency, they are used only when no general wage determination applies, they apply only to the contracts for which they were issued CFCM Practice Test Questions and answers graded A+ 2024 exam This act provides that contracts in excess of $2,000 to which the US is a party for construction, alteration, or repair of public buildings within the US shall contain a clause that no laborer shall receive less than the prevailing wage rates as determined by the Secretary of Labor - answer-Construction Wage Rate Requirements statute (David-Bacon Act) Which of the following is NOT a statutory exemption to the contracts for materials supplies, articles, and equipment exceeding $15,000 statute (Walsh-Healey Public Contracts Act) - answer-items manufactures outside of the US **is**commerical items, perishable, agricultural or farm products Service contracts valued in excess of must contain mandatory provisions regarding minimum wage and fringe benefits, safe and sanitary working conditions, notification to employees of the minimum allowable CFCM Practice Test Questions and answers graded A+ 2024 exam compensation, and equivalent federal classifications and wage rates - answer-$2,500 Federal agencies shall advance sustainable acquisition by ensuring that % of new contract actions for the supply of products and for the acquisition of services (including construction) require that the products are energy-efficient, water- efficient, biobased, environmentally preferable, non- ozone depleting, or made with recovered matericals - answer-95 FAR Part 24. Protection of Privacy and Freedom of Information. The Freedom of Info Act provides that info is to be made available to the public - answer- upon request, providing a copy of a reasonably described record For manufactured noncommerical end products, the test to determine the county of origin under the Buy American statute (act) is a two-part test to - answer- define a domestic end product that is manufactured in CFCM Practice Test Questions and answers graded A+ 2024 exam A cost is reasonable if, in its nature and amount, it does not exceed that which would be - answer- incurred by a purdent person in the conduct of competitive business Performance-based payments shall be used only - answer-when the CO and the offeror are able to agree on the performance-based iterms, the contract is fixed type, and the contract does not provide for progress payments Which of the following statements concerning customary progress payments is true? - answer- Customary progress payment rate is 80% (85% for small businesses) What definition best describes alternative dispute resolution? - answer-procedures voluntarily used to resolve issues of controversy CFCM Practice Test Questions and answers graded A+ 2024 exam The gov's policy is to try to resolve all contractual issues in controversy by - answer-mutual agreement at the CO's level After receiving the GAO's written notice that a protest has been filed, an agency must give notice - answer-of the protest to the contractor or all parties who appear to have a reasonable prospect of receiving an award Does a $75,000 claim resulting from a reduction of $350,000 and an increase of $275,000 require a certification? - answer-Yes, because the aggregate value of the claim exceeds $100,000 Protests may be filed with - answer-the agency, the GAO, or the US Court of Claims Who can authorize continued performance in the face of a protest after award? - answer-the head of the contracting activity CFCM Practice Test Questions and answers graded A+ 2024 exam The CO shall consider all protests and seek legal advice - answer-whether protests are submitted before or after award and whether filed directly with the GAO, the US Court of Claims, or the agenyc. 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 - answer-within 10 calendar days of the time the protester knew or should have known of the basis of the protest, whichever is earlier The responsibility for selecting the appropriate type of contract for an R&D requirement belongs to the - answer-the CO The methodologies contracting officers shall use in acquiring construction contracts and architect- engineer services, respectively, are - answer-sealed bids and negotiation CFCM Practice Test Questions and answers graded A+ 2024 exam Prior to entering into a contract for IT, an agency should analyze - answer-risks, benefits, and cost The following are examples of types of risk for the acquisition of IT - answer-technical obsolescence, technical feasibility, and dependencies between a new project and other projects or systems Subject to fiscal regulations of the agenceis and applicable interagency agreements, the requesting agency shall reimburse the servicing agency for rendered contract admin and audit services in accordance with the - answer-Economy Act (31 U.S.C. 1535) Which of the following is true regarding production surveillance - answer-- The purpose is to determine contractor progress and to identify any factors that may delay performance CFCM Practice Test Questions and answers graded A+ 2024 exam - It involves gov review of contractor performance plans, schedules, controls, and industrial processes and the actual performance under them. - Contracts at or below the simplified acquisition threshold should not normally require production surveillance. Which of these is a normal function of a contract administration office - answer-- reviewing the contractors compensation structure and insurance plans - conducting post-award orientation conferences - determining the contractors compliance with cost accounting standards A contractor auditor is responsible for - answer- submitting info and advice to the requesting activity on contractors accounting records and financial and cost control system CFCM Practice Test Questions and answers graded A+ 2024 exam Final indirect cost rates - answer-are established by a single agency and are binding on all agencies unless otherwise specifically prohibited which of the following is true with respect to suspension of work or stop work orders - answer-- The co may order a suspension of work for a reasonable period of time under a construction or architectural and engineering contract. - Stop work order is approved at a level higher than the CO - Stop work orders are applicable to any negotiated fixed price or cost reimbursement supply, research, development, or service contract supplemental agreements are used to - answer- definitize letter contracts "Effective Date" means - answer-For a solicitation amendment, change order, or administrate change, it is the issue date