FAC Cheat Sheet 2026

The 30 highest-yield FAC facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. What is the foundation of professional ethics in Federal Acquisition Certification? → Acting with integrity, honesty, and accountability
2. What database must vendors register in to be eligible to receive federal contracts, and also serves as the primary repository for socioeconomic certifications? → System for Award Management (SAM.gov)
3. Which communication style is most effective in Federal Acquisition Certification professional settings? → Assertive and respectful
4. What is the first step in the risk management process for Federal Acquisition Certification? → Identifying potential risks and hazards
5. What is the role of documentation in Fraud Detection & Prevention for Federal Acquisition Certification? → It provides an accurate record for accountability and reference
6. How does collaboration enhance Claims Processing & Investigation in Federal Acquisition Certification? → It brings diverse perspectives and improves outcomes
7. What is the purpose of feedback in Federal Acquisition Certification professional development? → To provide constructive guidance for improvement
8. What is the purpose of contract negotiations? → Clarify expectations and ensure fairness
9. What does HUBZone stand for in the context of federal small business programs? → Historically Underutilized Business Zone
10. Which federal procurement mechanism allows agencies to set aside task or delivery orders under multiple-award contracts specifically for small businesses? → Multiple Award Schedule (MAS) set-aside orders
11. A Contracting Officer's Representative (COR) discovers a contractor is consistently missing deliverable deadlines. What is the COR's proper first action? → Document the issue and notify the Contracting Officer
12. Which federal regulation governs ethical conduct in procurement? → Federal Acquisition Regulation (FAR)
13. What is the role of the Source Selection Authority (SSA) in a negotiated procurement? → To make the final award decision based on the source selection record
14. What is the purpose of the Mentor-Protégé Program under the SBA's 8(a) Business Development Program? → To allow large businesses to form joint ventures with 8(a) firms for contract awards
15. Which federal law requires large business prime contractors to submit subcontracting plans when contract value exceeds certain thresholds? → Small Business Act Section 8(d)
16. Which document formally captures a contractor's actual performance and is used in the Past Performance Information Retrieval System (PPIRS)? → Contractor Performance Assessment Report (CPAR)
17. Under FAR 15.503, when must the government provide a preaward notice to unsuccessful offerors in a negotiated procurement? → When an offeror's proposal is excluded from the competitive range
18. What is the primary role of the Defense Contract Audit Agency (DCAA) in contract administration? → To perform contract audits and advise on financial and accounting matters
19. What is the importance of staying current with trends in Fraud Detection & Prevention for Federal Acquisition Certification? → It ensures practices remain effective and relevant
20. When is a Responsibility Determination required under FAR Part 9? → Before award of every contract, regardless of dollar value
21. What is a fundamental principle of Claims Processing & Investigation in Federal Acquisition Certification practice? → Following established standards and best practices
22. Which factor is most important when evaluating vendor proposals? → Cost and technical merit
23. Which socioeconomic certification is specifically for small businesses that are at least 51% owned by economically disadvantaged women? → EDWOSB certification
24. A contractor submits a Request for Equitable Adjustment (REA) after receiving a Change Order. Under FAR 43.204, when must the REA be submitted? → As soon as practicable, before final payment
25. What is the importance of staying current with trends in Financial Analysis & Valuation for Federal Acquisition Certification? → It ensures practices remain effective and relevant
26. Under FAR Part 4, how long must federal contractors generally retain records related to contract performance after final payment? → 3 years
27. Which documentation practice is essential in Federal Acquisition Certification communication? → Recording all relevant interactions accurately and timely
28. Which negotiation strategy is most effective in achieving a win-win outcome? → Interest-based negotiation
29. Under FAR 15.302, what is the primary goal of the source selection process? → To select the offeror whose proposal represents the best value to the government
30. Under FAR 42.1502, agencies must complete CPARS evaluations within how many days after the end of an evaluation period? → 60 days