CFCM FAR Regulations 2

Question 1

Under FAR 15.402, the preferred order for establishing contract pricing is:

Accepted Answer

Price analysis, cost analysis, then technical analysis

Answer

FAR 15.402 directs contracting officers to use price analysis first; if price analysis alone is insufficient, cost analysis is then required.

Question 2

Which FAR part governs the acquisition of commercial products and commercial services?

Accepted Answer

FAR Part 12

Answer

FAR Part 12 establishes policies and procedures unique to the acquisition of commercial products and commercial services.

Question 3

Under FAR 52.222-26, the Equal Opportunity clause is required in contracts exceeding what threshold?

Accepted Answer

$10,000

Answer

FAR 52.222-26 requires the Equal Opportunity clause in contracts and subcontracts exceeding $10,000.

Question 4

FAR 19.502-2 requires a small business set-aside when the estimated value of a contract exceeds what amount and there is a reasonable expectation of competitive offers from at least two small businesses?

Accepted Answer

$10,000

Answer

FAR 19.502-2 mandates automatic small business set-asides for acquisitions exceeding $10,000 when the Rule of Two is met.

Question 5

Under FAR 22.1003-4, which type of contract is exempt from the Service Contract Labor Standards (formerly Service Contract Act)?

Accepted Answer

Contracts for services performed exclusively outside the U.S.

Answer

FAR 22.1003-4 exempts contracts for services performed entirely outside the United States from Service Contract Labor Standards coverage.

(CFCM) Certified Federal Contracts Manager Practice Test

(CFCM) Certified Federal Contracts Manager Practice Test

CFCM FAR Regulations 2