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Quizzes > Business & Finance

Contracting Certification Exam Practice Test (CFCM)

Quick, free CFCM practice quiz with instant results and explanations.

Editorial: Review CompletedCreated By: Demetris GeorgiouUpdated Aug 28, 2025
Difficulty: Moderate
2-5mins
Learning OutcomesCheat Sheet
Paper art illustration of federal contract management certification quiz elements on dark blue background

This quiz helps you prepare for the contracting certification exam with realistic scenarios that mirror federal contract manager tasks. Get instant results, answer explanations, and pointers on what to study next. Broaden your prep with the project management quiz and the supply chain management quiz, or revisit compliance basics in the cui quiz.

Which FAR part primarily governs competition requirements in federal contracting?
FAR Part 19
FAR Part 12
FAR Part 31
FAR Part 6
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The Contracting Officer is the only individual authorized to bind the government in a contract.
True
False
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Which contract type places the greatest cost risk on the contractor?
Cost-Plus-Incentive-Fee (CPIF)
Cost-Plus-Fixed-Fee (CPFF)
Firm-Fixed-Price (FFP)
Time-and-Materials (T&M)
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Which source selection approach trades off non-price factors against price to achieve best value?
LPTA (Lowest Price Technically Acceptable)
Reverse auction
Tradeoff
Sealed bidding
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CPARS is the federal system used to record and retrieve contractor past performance evaluations.
False
True
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Which is the primary FAR part addressing commercial products and commercial services acquisitions?
FAR Part 12
FAR Part 13
FAR Part 37
FAR Part 15
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Lowest Price Technically Acceptable (LPTA) permits tradeoffs between price and non-price factors.
False
True
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A Procurement Integrity Act violation can disqualify an offeror and lead to criminal penalties.
False
True
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Under the Truthful Cost or Pricing Data statute (formerly TINA), certified cost or pricing data are generally required above which threshold (subject to statutory changes)?
$2 million
$250,000
$750,000
$10 million
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An 8(a) set-aside may be sole-sourced within threshold limits when the SBA accepts the requirement into the program.
True
False
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Which clause allows the government to unilaterally change specifications within the general scope of a fixed-price supply contract?
Option to Extend the Term (FAR 52.217-9)
Changes - Fixed-Price (FAR 52.243-1)
Inspection of Supplies - Fixed-Price (FAR 52.246-2)
Termination for Convenience (FAR 52.249-2)
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Which protest venue generally requires filing within 5 days after the close of a required debriefing to obtain an automatic stay under CICA?
Agency-level protests only
Small Business Administration Office of Hearings and Appeals
U.S. Court of Federal Claims
Government Accountability Office (GAO)
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The Anti-Deficiency Act prohibits obligating funds in excess of or in advance of appropriations.
False
True
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Which performance document becomes part of the contract and specifies performance outcomes and measurable results rather than prescribing processes?
Statement of Objectives (SOO)
Performance Work Statement (PWS)
Quality Assurance Surveillance Plan (QASP)
Statement of Work (SOW)
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Trade Agreements Act applicability generally waives Buy American Act restrictions for eligible country end products above certain thresholds.
True
False
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Cost Accounting Standards (CAS) apply uniformly to all federal contracts regardless of value or type.
False
True
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A GAO protest filed within the automatic stay window after a debriefing can trigger a stay of award or performance under CICA.
False
True
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A contractor with an inadequate accounting system can still receive a cost-reimbursement award without risk.
False
True
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Which order of precedence applies for resolving inconsistencies in solicitations and contracts for commercial products and services?
Agency supplements always supersede FAR
FAR Part 6 overrules all clauses
FAR 52.212-4 and 52.212-5 as tailored in the solicitation
Representations and Certifications control over the schedule
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The government may ratify an unauthorized commitment if it meets specific criteria, including benefit to the government and available funds.
True
False
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Study Outcomes

  1. Understand core contracting certification exam concepts -

    Gain a clear grasp of fundamental federal contract management principles covered in the contracting certification exam.

  2. Analyze federal contracting certification requirements -

    Break down key regulatory and policy mandates to meet federal contracting certification requirements.

  3. Apply contract manager exam prep techniques -

    Use proven study strategies and time-management tips tailored to contract manager exam prep.

  4. Identify best practices in contract management quiz questions -

    Spot common question types and apply critical thinking to answer contract management quiz questions accurately.

  5. Evaluate real-world federal contract manager certification scenarios -

    Assess case studies to determine compliant actions and certification-ready decisions.

  6. Reinforce knowledge of federal contract management processes -

    Consolidate your understanding through targeted feedback and performance insights from the quiz.

Cheat Sheet

  1. FAR Foundations -

    The Federal Acquisition Regulation (FAR) is the legal backbone of any contracting certification exam, so use the mnemonic "FAR = Fundamentals Are Required" to recall its structure. Focus on Part 1 definitions and Part 2 terms before diving into complex acquisition procedures in Parts 12 - 15. For example, FAR Part 15 governs negotiated procurements and is frequently tested (source: acquisition.gov).

  2. Contract Types Comparison -

    Master fixed-price, cost-reimbursement, time-and-materials, and indefinite-delivery contracts for your contract manager exam prep by using the "FRIC" mnemonic (Fixed, Reimbursable, Indefinite, Cost). Understand that a Firm-Fixed-Price (FFP) contract caps cost risk on the contractor, whereas a Cost-Plus-Fixed-Fee (CPFF) reimburses all allowable costs plus a set profit (source: DoD Contracting Officer's Guide). Practice converting scenarios into the right contract type to build speed and accuracy.

  3. Cost Principles & Allocation Formula -

    When studying for federal contract manager certification, remember the basic cost equation: Total Allowable Cost = Direct Costs + Allocated Indirect Costs. Review Cost Accounting Standards (CAS) and FAR Part 31 to classify costs and apply reasonableness tests - direct labor vs. G&A allocations often appear in quiz scenarios. A handy trick is "DIR-ALL": Direct, Indirect, Reasonable, Allocable, and Lawful (source: Cornell University Research oCat).

  4. Procurement Integrity & Ethics -

    Federal contracting certification requirements emphasize ethical rules under FAR Part 3 and 2 CFR Part 200 to prevent conflicts of interest. Remember the "NO BID" acronym - Nonpublic information, Offers, Bribes, Inappropriate gifts, Disclosure - to spot and avoid violations. Real-world case studies from the Office of Government Ethics can help you ace scenario-based contract management quiz questions.

  5. Performance-Based Contracting Metrics -

    Performance-based contracting shifts focus from process to results; use the SMART criteria (Specific, Measurable, Attainable, Relevant, Time-bound) to draft clear performance work statements. Familiarize yourself with award-fee and award-term incentives in FAR Part 16 to optimize contractor performance. Practicing these scenarios under timed conditions mirrors real contract management quiz questions and builds confidence.

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