CFCM Federal Acquisition Regulations & Legal Framework

Question 1

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

Accepted Answer

To unify acquisition procedures across federal agencies

Answer

To guide state procurement laws.

Answer

To regulate federal court operations.

Answer

To define criminal penalties for contractors.

Question 2

Which part of the FAR outlines contract clauses?

Accepted Answer

Part 52

Answer

Part 12

Answer

Part 19

Answer

Part 25

Question 3

What is the role of a contracting officer under FAR?

Accepted Answer

To administer contracts and make related decisions

Answer

To supervise procurement agents only.

Answer

To enforce criminal statutes.

Answer

To manage personnel records.

Question 4

Which principle ensures full and open competition?

Accepted Answer

Full and open competition

Answer

Simplified acquisition threshold

Answer

Set-aside contracting

Answer

Sealed bidding only

Question 5

Which regulation governs ethics in federal contracting?

Accepted Answer

FAR Subpart 3.1

Answer

OMB Circular A-76

Answer

DFARS Part 5

Answer

FOIA guidelines

Question 6

How are changes to contracts handled under FAR?

Accepted Answer

Using contract modification procedures in FAR Part 43

Answer

By verbal agreement

Answer

By contractor only

Answer

By court approval

Question 7

Which agency maintains the FAR?

Accepted Answer

Federal Acquisition Regulation Council

Answer

Office of Management and Budget

Answer

Congress

Answer

Department of Justice

Question 8

What does 'debarment' mean under FAR?

Accepted Answer

Temporary ban from contracting due to violations

Answer

Promotion to higher contracts

Answer

Requirement to reapply annually

Answer

Immediate award suspension only

Question 9

What does FAR Part 15 address?

Accepted Answer

Negotiated contracting procedures

Answer

Commercial item acquisitions

Answer

Small business programs

Answer

Defense acquisitions