CFCM FAR Regulations 3

Question 1

FAR 16.504(c) places what limitation on the use of indefinite-delivery indefinite-quantity (IDIQ) contracts by a single contractor for advisory and assistance services?

Accepted Answer

5-year maximum ordering period

Answer

FAR 16.504(c) limits the ordering period for single-award IDIQs to 5 years, including any options, absent a specific exception.

Question 2

Under FAR 31.205-6, which of the following employee compensation costs is UNALLOWABLE?

Accepted Answer

Golden parachute payments triggered by change in contractor ownership

Answer

FAR 31.205-6(l) specifically disallows golden parachute payments and other excessive compensation tied to changes in ownership or management.

Question 3

Which FAR clause gives the government the right to terminate a contract for default when the contractor fails to make progress endangering performance?

Accepted Answer

FAR 52.249-8 (Default - Fixed-Price Supply and Service)

Answer

FAR 52.249-8 authorizes termination for default, including situations where the contractor fails to make progress so as to endanger performance.

Question 4

FAR 3.502 prohibits gratuities offered to government personnel. What is the potential consequence to a contractor found in violation?

Accepted Answer

Contract termination and recovery of twice the value of the gratuity

Answer

FAR 3.502-3 allows the government to terminate the contract and recover from the contractor a penalty of not more than three times the value of the gratuity.

Question 5

Under FAR 4.703, contractors must retain records related to a government contract for a minimum of how long after final payment?

Accepted Answer

3 years

Answer

FAR 4.703 generally requires contractors to retain records for 3 years after final payment under the contract.

(CFCM) Certified Federal Contracts Manager Practice Test

(CFCM) Certified Federal Contracts Manager Practice Test

CFCM FAR Regulations 3