CFCM Fundamentals & Core Concepts 3

Question 1

Which FAR subpart establishes the policy that acquisition planning must begin as soon as a need is identified?

Accepted Answer

FAR Subpart 7.1

Answer

FAR Subpart 7.1 governs acquisition plans and requires planning to begin as early as possible in the acquisition cycle.

Question 2

What term describes the legal authority granted to a Contracting Officer to enter into, administer, or terminate contracts on behalf of the government?

Accepted Answer

Warrant

Answer

A warrant is the official document that grants a Contracting Officer the legal authority to bind the government in contractual agreements.

Question 3

Under the Competition in Contracting Act (CICA), what is the default competition requirement for federal acquisitions?

Accepted Answer

Full and open competition

Answer

CICA mandates full and open competition as the default, allowing all responsible sources to compete for federal contracts.

Question 4

Which document serves as the primary vehicle for communicating the government's requirements to prospective offerors in a negotiated acquisition?

Accepted Answer

Request for Proposal (RFP)

Answer

A Request for Proposal (RFP) is used in negotiated acquisitions to solicit offers and allows for discussion and negotiation with offerors.

Question 5

What is the primary purpose of the Federal Acquisition Regulation (FAR)?

Accepted Answer

To codify uniform acquisition policies and procedures for executive agencies

Answer

The FAR establishes uniform acquisition policies and procedures that all executive branch agencies must follow when procuring goods and services.

(CFCM) Certified Federal Contracts Manager Practice Test

(CFCM) Certified Federal Contracts Manager Practice Test

CFCM Fundamentals & Core Concepts 3