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Risk & Compliance Flashcards

7 cards from real FAC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Risk & Compliance flashcards as text

  1. Which risk management framework is most commonly referenced in federal acquisition for assessing information system security risks?

    Answer: NIST RMF (SP 800-37)

    NIST SP 800-37 provides the Risk Management Framework (RMF) used governmentwide for managing information system security risks.

  2. A contracting officer discovers a contractor submitted falsified cost data during negotiations. Under the False Claims Act, who may bring a qui tam lawsuit on behalf of the government?

    Answer: A private citizen (relator)

    The False Claims Act allows private citizens, called relators or whistleblowers, to file qui tam suits on the government's behalf and share in any recovery.

  3. Under FAR 9.405, what is the immediate consequence when a contractor is debarred?

    Answer: Agencies are prohibited from awarding contracts to the contractor

    FAR 9.405 prohibits agencies from soliciting offers from, awarding contracts to, or consenting to subcontracts with debarred contractors.

  4. Which clause requires contractors to disclose credible evidence of a violation of federal criminal law involving fraud, conflicts of interest, bribery, or gratuity?

    Answer: FAR 52.203-13

    FAR 52.203-13 (Contractor Code of Business Ethics and Conduct) mandates timely disclosure of credible evidence of certain criminal violations.

  5. A program manager wants to transfer all risk of cost overruns to the contractor. Which contract type best accomplishes this?

    Answer: Firm-Fixed-Price (FFP)

    A Firm-Fixed-Price contract places maximum risk on the contractor because the price does not change regardless of the contractor's actual costs.

  6. What is the primary purpose of a Contractor Purchasing System Review (CPSR)?

    Answer: To evaluate the efficiency and effectiveness of the contractor's purchasing system

    A CPSR evaluates whether the contractor's purchasing system provides adequate policies, procedures, and internal controls for subcontracting.

  7. Under the Anti-Kickback Act (41 U.S.C. 8702), which action is specifically prohibited?

    Answer: Providing anything of value to obtain or reward favorable treatment in subcontracting

    The Anti-Kickback Act prohibits providing, attempting to provide, or offering anything of value to improperly obtain or reward favorable treatment in the subcontracting process.