CFCM FAR Regulations 4

Question 1

Under FAR 32.702, what is the maximum advance payment that may be made to a contractor without specific approval from the head of the agency?

Accepted Answer

Advances are prohibited unless specifically authorized by statute

Answer

FAR 32.702 states that advance payments may be made only when specifically authorized by statute, making statutory authorization a prerequisite.

Question 2

Which FAR subpart establishes the Truth in Negotiations Act (TINA) requirements for certified cost or pricing data?

Accepted Answer

FAR Subpart 15.4

Answer

FAR Subpart 15.4 implements the Truthful Cost or Pricing Data statute (formerly TINA), requiring certified cost or pricing data above the threshold.

Question 3

A contracting officer discovers a contractor is on the Excluded Parties List in SAM. Under FAR 9.405, what action is required?

Accepted Answer

The CO must not solicit offers from, award to, or consent to subcontracts with the debarred contractor

Answer

FAR 9.405(a) prohibits contracting officers from soliciting, awarding to, or consenting to subcontracts with contractors on the excluded parties list absent a compelling reason exception.

Question 4

Under FAR 36.209, a contracting officer awarding a construction contract must include what clause for contracts exceeding $2 million?

Accepted Answer

FAR 52.228-15 (Performance and Payment Bonds - Construction)

Answer

FAR 52.228-15 requires performance and payment bonds for construction contracts exceeding $150,000, with specific bond amounts mandated by the Miller Act.

Question 5

FAR 17.207 sets out the conditions under which a contracting officer may exercise a contract option. Which of the following is NOT a required condition?

Accepted Answer

The option was synopsized when the original contract was awarded

Answer

FAR 17.207 does not require re-synopsizing when exercising a previously awarded option, as the option was part of the original competitive acquisition.

(CFCM) Certified Federal Contracts Manager Practice Test

(CFCM) Certified Federal Contracts Manager Practice Test

CFCM FAR Regulations 4