CFCM FAR Regulations 5

Question 1

Under FAR 43.103, what types of contract modifications require mutual agreement of both parties?

Accepted Answer

Bilateral modifications (supplemental agreements)

Answer

FAR 43.103(a) defines bilateral modifications (supplemental agreements) as those signed by both the contractor and contracting officer, requiring mutual agreement.

Question 2

FAR 52.215-2 (Audit and Records - Negotiation) requires that a contractor provide access to records for how long after final payment?

Accepted Answer

3 years

Answer

FAR 52.215-2 requires contractors to maintain and provide access to records for 3 years after final payment, consistent with FAR 4.703.

Question 3

Under the FAR Changes clause (FAR 52.243-1), what is the contractor's obligation when it believes the government has ordered a constructive change?

Accepted Answer

Continue performance and notify the CO within 20 days, then submit a proposal within 30 days

Answer

FAR 52.243-1 requires the contractor to continue performance and assert any REA through a timely written notice to the CO, typically within the timeframes specified in the clause.

Question 4

Which FAR part covers foreign acquisition and identifies the Buy American statute requirements for supplies?

Accepted Answer

FAR Part 25

Answer

FAR Part 25 implements the Buy American statute and other laws affecting acquisition of foreign supplies and services.

Question 5

Under FAR 15.503, when must an agency provide a preaward notice to unsuccessful offerors in a negotiated procurement?

Accepted Answer

When the award exceeds the simplified acquisition threshold

Answer

FAR 15.503(a) requires preaward notification to offerors whose proposals are excluded from the competitive range or otherwise not considered for award when the acquisition exceeds the simplified acquisition threshold.

(CFCM) Certified Federal Contracts Manager Practice Test

(CFCM) Certified Federal Contracts Manager Practice Test

CFCM FAR Regulations 5