CFCM Fundamentals & Core Concepts 4

Question 1

What is the Simplified Acquisition Threshold (SAT) as established under federal acquisition regulations?

Accepted Answer

$150,000

Answer

The Simplified Acquisition Threshold is $150,000, below which agencies may use simplified acquisition procedures to reduce administrative burden.

Question 2

Which government-wide database must contractors register in before being awarded most federal contracts?

Accepted Answer

System for Award Management (SAM.gov)

Answer

SAM.gov (System for Award Management) is the official registration system that contractors must use to be eligible for federal contract awards.

Question 3

Under FAR Part 19, what percentage of total prime contract dollars is the governmentwide small business prime contracting goal?

Accepted Answer

23%

Answer

The governmentwide small business prime contracting goal is 23% of total eligible federal contract dollars, as established under the Small Business Act.

Question 4

What is the purpose of a Justification and Approval (J&A) document in federal contracting?

Accepted Answer

To justify a sole-source or other than full and open competition award

Answer

A J&A documents the legal basis and approval authority for awarding a contract without full and open competition.

Question 5

Which principle holds that a contractor cannot bind the government to a contract unless the individual signing had actual authority to do so?

Accepted Answer

Actual authority requirement

Answer

In federal contracting, only an authorized Contracting Officer with actual authority can legally bind the government — apparent authority does not apply as it does in commercial law.

(CFCM) Certified Federal Contracts Manager Practice Test

(CFCM) Certified Federal Contracts Manager Practice Test

CFCM Fundamentals & Core Concepts 4