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CFCM Review Class > Part 3b Chat GPT FAR Questions > Flashcards

Part 3b Chat GPT FAR Questions Flashcards

Parts 22, 24, 27, 30, 32

1
Q
  1. Which of the following is NOT a law mentioned in FAR Part 22 related to labor standards?
    A) Service Contract Act
    B) Walsh-Healey Public Contracts Act
    C) Davis-Bacon Act
    D) Equal Employment Opportunity Act
A

D) Equal Employment Opportunity Act

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2
Q
  1. Which of the following is NOT a purpose of the Davis-Bacon Act as described in FAR 22.4?
    A) To ensure contractors pay minimum wages
    B) To protect workers by requiring fringe benefits
    C) To set standards for overtime pay
    D) To ensure that wage determinations are included in contracts over $2,000
A

C) To set standards for overtime pay

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3
Q
  1. Which of the following is NOT a criterion for applying the Service Contract Act (SCA) under FAR 22.1002-1?
    A) Contracts must exceed $2,500
    B) Contracts must involve services performed in the United States
    C) Contracts must involve the employment of professional personnel only
    D) Contracts must include service employees
A

: C) Contracts must involve the employment of professional personnel only

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4
Q
  1. Which of the following is NOT included in the definition of “service employees” under FAR 22.1001?
    A) Guards
    B) Watchmen
    C) Engineers
    D) Janitors
A

C) Engineers

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5
Q
  1. Which of the following is NOT a compliance requirement under FAR 22.406-6 for the Davis-Bacon Act?
    A) Submitting weekly certified payrolls
    B) Posting the wage determination at the job site
    C) Requesting exemptions from prevailing wage requirements
    D) Ensuring employees are paid no less than the prevailing wage rate
A

C) Requesting exemptions from prevailing wage requirements

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6
Q

. Which of the following is NOT an obligation of contractors under the Walsh-Healey Public Contracts Act, as outlined in FAR 22.6?
A) Pay employees at least the minimum wage
B) Provide safe and sanitary working conditions
C) Ensure overtime is paid for over 40 hours of work per week
D) Provide health insurance to all employees

A

D) Provide health insurance to all employees

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7
Q
  1. Which of the following is NOT covered by the Fair Labor Standards Act (FLSA) under FAR 22.102?
    A) Minimum wage
    B) Working hours and overtime
    C) Child labor restrictions
    D) Employee health benefits
A

D) Employee health benefits

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8
Q
  1. Which of the following is NOT an action required by the contractor under FAR 22.805 regarding Equal Employment Opportunity (EEO)?
    A) Posting EEO notices
    B) Conducting diversity training for all employees
    C) Including EEO clauses in subcontracts
    D) Filing EEO reports
A

B) Conducting diversity training for all employees

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9
Q
  1. Which of the following is NOT a feature of the Service Contract Labor Standards statute as described in FAR 22.1002?
    A) Establishes minimum wage and fringe benefits for service employees
    B) Requires contractors to submit health and safety plans
    C) Applies to contracts over $2,500
    D) Requires wage determinations for specific contracts
A

B) Requires contractors to submit health and safety plans

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10
Q
  1. Which of the following is NOT true about the Wage Rate Requirements (Construction) statute under FAR 22.403?
    A) It applies to all construction contracts
    B) It ensures minimum wage payment to laborers and mechanics
    C) It requires payment of prevailing wages based on local rates
    D) It mandates wage determinations be included in contracts over $2,000
A

A) It applies to all construction contracts

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11
Q
  1. Which of the following is NOT required by the Contractor under FAR 22.1018 regarding Veterans’ Employment?
    A) Posting job openings in veterans’ employment offices
    B) Employing a set percentage of veterans
    C) Reporting data on veteran hiring
    D) Including a veterans’ employment clause in subcontracts
A

B) Employing a set percentage of veterans

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12
Q
  1. Which of the following is NOT a key purpose of the Copeland (Anti-Kickback) Act under FAR 22.403-2?
    A) Preventing contractors from requiring kickbacks from employee wages
    B) Ensuring contractors provide fair wages
    C) Protecting employees from wage deductions
    D) Limiting contributions to political campaigns by contractors
A

D) Limiting contributions to political campaigns by contractors

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13
Q
  1. Which of the following is NOT part of the Department of Labor’s responsibilities under FAR 22.406-8?
    A) Monitoring contractor compliance with labor standards
    B) Setting wage rates for service contracts
    C) Issuing wage determinations
    D) Enforcing labor laws on federally funded construction projects
A

B) Setting wage rates for service contracts

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14
Q
  1. Which of the following is NOT a labor law addressed in FAR Part 22.1000-1 concerning service contracts?
    A) Fair Labor Standards Act
    B) Walsh-Healey Public Contracts Act
    C) Contract Work Hours and Safety Standards Act
    D) Buy American Act
A

D) Buy American Act

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15
Q
  1. Which of the following is NOT a responsibility of the contracting officer regarding labor law compliance under FAR 22.406-1?
    A) Ensuring wage determinations are in the solicitation
    B) Reviewing certified payrolls
    C) Monitoring contractor performance
    D) Negotiating lower wage rates with contractors
A

D) Negotiating lower wage rates with contractors

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16
Q
  1. Which of the following is NOT required for compliance with the Contract Work Hours and Safety Standards Act (CWHSSA) under FAR 22.305?
    A) Paying overtime for over 40 hours of work per week
    B) Submitting weekly certified payrolls
    C) Ensuring workers are paid no less than the prevailing wage
    D) Providing safe working conditions
A

B) Submitting weekly certified payrolls

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17
Q
  1. Which of the following is NOT a reason for including labor clauses in contracts under FAR 22.102-1?
    A) To ensure compliance with labor laws
    B) To enable contractors to hire any worker without restrictions
    C) To establish minimum standards for wages and working conditions
    D) To protect the rights of workers
A

B) To enable contractors to hire any worker without restrictions

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18
Q
  1. Which of the following is NOT considered under FAR Part 22’s wage determinations process?
    A) Prevailing wage rates in the locality
    B) Fringe benefits
    C) Health and safety standards
    D) Contractor profit margins
A

D) Contractor profit margins

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19
Q
  1. Which of the following is NOT a responsibility of agencies under the Privacy Act (FAR 24.102)?
    A) Protecting personal data in their possession
    B) Allowing individuals access to their own records
    C) Destroying all data after 5 years
    D) Ensuring that systems containing personal data are secure
A

C) Destroying all data after 5 years

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20
Q
  1. Which of the following is NOT covered under the Privacy Act (FAR 24.101)?
    A) Employee medical records
    B) Financial transaction records
    C) Social security numbers
    D) Records related to business entities
A

D) Records related to business entities

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21
Q
  1. Which of the following is NOT a requirement when handling personally identifiable information (PII) under FAR 24.103?
    A) Allowing individuals to inspect their records
    B) Maintaining accurate and up-to-date records
    C) Sharing PII with other agencies without consent
    D) Correcting errors in individual records
A

C) Sharing PII with other agencies without consent

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22
Q
  1. Which of the following is NOT a required provision in contracts involving the collection of personal data under FAR 24.104?
    A) The contractor must comply with the Privacy Act
    B) The contractor must secure all personal data
    C) The contractor must provide a Privacy Impact Assessment
    D) The contractor must provide individuals with access to their own records
A

C) The contractor must provide a Privacy Impact Assessment

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23
Q
  1. Which of the following is NOT a reason for withholding information under the Freedom of Information Act (FOIA), according to FAR 24.202?
    A) National security concerns
    B) Personal privacy protection
    C) Protection of business financial information
    D) Expired government contracts
A

D) Expired government contracts

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24
Q
  1. Which of the following is NOT true about the disclosure of records under FOIA as per FAR 24.203?
    A) Agencies must respond to FOIA requests promptly
    B) Agencies may charge fees for processing requests
    C) Agencies must release all records requested under FOIA
    D) Agencies may withhold records under specific exemptions
A

C) Agencies must release all records requested under FOIA

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25
Q
  1. Which of the following is NOT a method for protecting PII as required by FAR 24.103?
    A) Encrypting electronic records
    B) Limiting access to authorized personnel
    C) Posting personal data in public domains
    D) Implementing physical security controls
A

C) Posting personal data in public domains

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26
Q
  1. Which of the following is NOT a consequence of non-compliance with the Privacy Act according to FAR 24.104?
    A) Contract termination
    B) Civil lawsuits against the agency
    C) Criminal penalties
    D) Suspension or debarment of the contractor
A

C) Criminal penalties

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27
Q
  1. Which of the following is NOT typically required when handling requests under FOIA as outlined in FAR 24.202?
    A) A detailed accounting of the records maintained
    B) Justification for any withheld records
    C) Providing records that contain PII without redaction
    D) Charging reasonable fees for document searches and duplication
A

C) Providing records that contain PII without redaction

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28
Q
  1. Which of the following is NOT included in the contractor’s responsibility for safeguarding personal data under FAR 24.103?
    A) Ensuring all data is stored in encrypted formats
    B) Reporting security breaches to the contracting officer
    C) Deleting all records after contract completion
    D) Limiting access to personal data to authorized personnel
A

C) Deleting all records after contract completion

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29
Q
  1. Which of the following is NOT a condition under which records are exempt from disclosure under FOIA as specified in FAR 24.202?
    A) Records that could compromise national security
    B) Records containing confidential business information
    C) Records relating to ongoing criminal investigations
    D) Records of internal government memos and notes over 10 years old
A

D) Records of internal government memos and notes over 10 years old

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30
Q
  1. Which of the following is NOT a type of intellectual property addressed in FAR Part 27?
    A) Patents
    B) Trademarks
    C) Copyrights
    D) Technical data
A

B) Trademarks

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31
Q
  1. Which of the following is NOT true regarding the government’s rights in data under FAR 27.404-1?
    A) The government has unlimited rights in data delivered under the contract
    B) The contractor retains all rights to proprietary data
    C) The government may release data to third parties
    D) The government can use the data for government purposes
A

B) The contractor retains all rights to proprietary data

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32
Q
  1. Which of the following is NOT a basis for the contractor to retain rights to data developed under a government contract (FAR 27.404-2)?
    A) The data was developed at private expense
    B) The data is subject to a confidentiality agreement
    C) The data is a trade secret
    D) The data was developed as part of the contract’s performance
A

D) The data was developed as part of the contract’s performance

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33
Q
  1. Which of the following is NOT a primary goal of FAR Part 27 regarding patents and inventions?
    A) Promoting the utilization of inventions arising from federally supported research
    B) Encouraging small businesses to patent their inventions
    C) Ensuring that inventions are available for government use
    D) Protecting the contractor’s sole rights to all inventions
A

D) Protecting the contractor’s sole rights to all inventions

34
Q
  1. Which of the following is NOT an appropriate clause for inclusion in a contract involving technical data (FAR 27.409)?
    A) Rights in Data—General
    B) Rights in Bidder Data
    C) Rights in Data—Limited Rights
    D) Rights in Data—Special Works
A

B) Rights in Bidder Data

35
Q
  1. Which of the following is NOT true regarding the use of patents in government contracts (FAR 27.201)?
    A) The government has the right to use patents for any government purpose
    B) Contractors retain the exclusive rights to patents developed under federal contracts
    C) The government may authorize others to use the patents
    D) The government must compensate the contractor for the use of their patents
A

B) Contractors retain the exclusive rights to patents developed under federal contracts

36
Q
  1. Which of the following is NOT a key principle of FAR 27.202 on the use of inventions made under government contracts?
    A) Contractors are encouraged to commercialize inventions
    B) The government may require the contractor to license others to use the invention
    C) The contractor must assign all rights to the government
    D) The government has the right to use the invention without royalty
A

C) The contractor must assign all rights to the government

37
Q
  1. Which of the following is NOT a category of data rights defined in FAR Part 27?
    A) Unlimited rights
    B) Restricted rights
    C) Commercial rights
    D) Limited rights
A

C) Commercial rights

38
Q
  1. Which of the following is NOT an objective of FAR 27.302 regarding contractor-developed patents?
    A) To provide incentives for contractors to develop new technology
    B) To ensure the government has access to inventions developed under contract
    C) To ensure contractors retain exclusive rights to their inventions
    D) To allow contractors to commercialize their inventions
A

C) To ensure contractors retain exclusive rights to their inventions

39
Q
  1. Which of the following is NOT true regarding FAR Part 27’s treatment of computer software?
    A) Software developed under government contracts may be subject to unlimited rights
    B) The government must always provide compensation for using contractor-developed software
    C) Software is treated as technical data under FAR 27.401
    D) Software licenses may limit the government’s ability to distribute the software
A

B) The government must always provide compensation for using contractor-developed software

40
Q
  1. Which of the following is NOT a factor considered when determining the government’s rights to data under FAR 27.404?
    A) Whether the data was developed exclusively at government expense
    B) Whether the contractor’s data is commercial or non-commercial
    C) Whether the data is necessary for reprocurement
    D) Whether the contractor has filed for a patent on the data
A

D) Whether the contractor has filed for a patent on the data

41
Q
  1. Which of the following is NOT true regarding the contractor’s rights in inventions under FAR 27.302?
    A) The contractor may retain ownership of inventions developed under government contracts
    B) The government has the right to use the invention without paying royalties
    C) The contractor must report all inventions to the government
    D) The contractor may sell the invention to private entities without restrictions
A

D) The contractor may sell the invention to private entities without restriction

42
Q
  1. Which of the following is NOT a correct description of FAR Part 27’s provisions on copyrights?
    A) The government may obtain a non-exclusive license to use copyrighted works
    B) Contractors must assign all copyright ownership to the government
    C) Contractors may retain ownership of copyrightable works developed under government contracts
    D) The government has the right to reproduce and distribute copyrighted works for government purposes
A

B) Contractors must assign all copyright ownership to the government

43
Q
  1. Which of the following is NOT a situation where the government would receive “unlimited rights” to data under FAR 27.404-1?
    A) Data developed exclusively with government funds
    B) Data that is publicly available
    C) Data necessary for reprocurement
    D) Data that is used for contractor’s internal research
A

D) Data that is used for contractor’s internal research

44
Q
  1. Which of the following is NOT an obligation of the contractor regarding patent infringement claims under FAR 27.203?
    A) The contractor must indemnify the government against patent infringement claims
    B) The contractor must provide the government with a license to the patented technology
    C) The contractor must report any potential patent infringement issues
    D) The contractor must defend against all patent infringement claims at their own expense
A

B) The contractor must provide the government with a license to the patented technology

45
Q
  1. Which of the following is NOT true about the use of technical data under FAR 27.404-3?
    A) The government may release technical data to third parties
    B) Contractors may mark technical data as proprietary
    C) The government has limited rights to contractor’s technical data
    D) Contractors must always share technical data developed at private expense
A

D) Contractors must always share technical data developed at private expense

46
Q
  1. Which of the following is NOT a reason the government would seek rights in a contractor’s patent under FAR 27.302?
    A) The invention is essential to the agency’s mission
    B) The invention was developed entirely with government funds
    C) The invention has commercial potential
    D) The invention is necessary for national defense
A

C) The invention has commercial potential

47
Q
  1. Which of the following is NOT a requirement under FAR Part 30 regarding Cost Accounting Standards (CAS) applicability?
    A) CAS applies to all negotiated contracts above $7.5 million
    B) CAS applies to contracts where modified coverage is required
    C) CAS does not apply to sealed bid contracts
    D) CAS applies to all commercial item contracts
A

D) CAS applies to all commercial item contracts

48
Q
  1. Which of the following is NOT a responsibility of the Cognizant Federal Agency Official (CFAO) under FAR 30.202?
    A) Reviewing contractor disclosure statements
    B) Administering compliance with CAS
    C) Issuing decisions on cost accounting changes
    D) Auditing contractor’s financial statements
A

D) Auditing contractor’s financial statements

49
Q
  1. Which of the following is NOT one of the four cost accounting standards that are always applicable when a contract is subject to modified CAS coverage?
    A) CAS 401 - Consistency in Estimating
    B) CAS 402 - Consistency in Allocating Costs
    C) CAS 404 - Capitalization of Tangible Assets
    D) CAS 405 - Accounting for Unallowable Costs
A

C) CAS 404 - Capitalization of Tangible Assets

50
Q
  1. Which of the following is NOT a valid reason for the CFAO to issue a cost impact determination under FAR 30.604?
    A) The contractor made a voluntary accounting change
    B) The contractor failed to comply with CAS
    C) The contractor made an accounting change required by CAS
    D) The contractor’s sales have significantly increased in volume
A

D) The contractor’s sales have significantly increased in volume

51
Q
  1. Which of the following is NOT a condition that requires the submission of a Disclosure Statement under FAR 30.202-1?
    A) The contractor receives a CAS-covered contract of $50 million or more
    B) The contractor has a contract subject to modified CAS coverage
    C) The contractor has contracts that total $100 million or more in CAS-covered awards
    D) The contractor is a small business
A

D) The contractor is a small business

52
Q
  1. Which of the following is NOT required when a contractor submits a revised Disclosure Statement?
    A) The revised Disclosure Statement must be certified as current, accurate, and complete
    B) The revised Disclosure Statement must be submitted to the CFAO
    C) The revised Disclosure Statement must include an explanation of changes
    D) The revised Disclosure Statement must include a financial audit report
A

D) The revised Disclosure Statement must include a financial audit report

53
Q
  1. Which of the following is NOT an action the CFAO can take if a contractor fails to comply with CAS or its Disclosure Statement under FAR 30.605?
    A) Impose penalties on the contractor
    B) Withhold payments to the contractor
    C) Adjust the contract price
    D) Refer the contractor for debarment
A

D) Refer the contractor for debarment

54
Q
  1. Which of the following is NOT a requirement of a contractor’s cost impact proposal when they have made a required cost accounting change under FAR 30.604?
    A) A description of the change
    B) The impact of the change on the contract price
    C) The contractor’s financial statements for the past three years
    D) The estimated impact on all CAS-covered contracts
A

C) The contractor’s financial statements for the past three years

55
Q
  1. Which of the following is NOT a valid defense for a contractor to avoid CAS noncompliance penalties?
    A) The contractor can show they were following an approved Disclosure Statement
    B) The contractor can demonstrate that the government caused the noncompliance
    C) The contractor can show that the noncompliance did not result in increased costs
    D) The contractor can prove they were not aware of CAS requirements
A

D) The contractor can prove they were not aware of CAS requirements

56
Q
  1. Which of the following is NOT included in a contractor’s Disclosure Statement under FAR 30.202-1?
    A) Accounting practices used by the contractor
    B) Financial forecasts for the next fiscal year
    C) Consistency in cost allocations
    D) Methods of accounting for direct and indirect costs
A

B) Financial forecasts for the next fiscal year

57
Q
  1. Which of the following is NOT a standard applied to cost accounting practices under CAS?
    A) Consistency in allocating costs incurred for the same purpose
    B) Accounting for the proper treatment of capital assets
    C) Disclosure of the source of materials purchased by the contractor
    D) Measurement of costs
A

C) Disclosure of the source of materials purchased by the contractor

58
Q
  1. Which of the following is NOT true about modified CAS coverage under FAR 30.201-4?
    A) It applies only to contracts that are subject to specific, limited CAS standards
    B) The contractor is required to follow all 19 CAS standards
    C) It applies to negotiated contracts over $7.5 million but under $50 million
    D) Only four of the CAS standards apply
A

B) The contractor is required to follow all 19 CAS standards

59
Q
  1. Which of the following is NOT true about the review of a contractor’s Disclosure Statement by the CFAO?
    A) The CFAO must review the statement to ensure it is current, accurate, and complete
    B) The CFAO must forward the statement to the contractor for approval
    C) The CFAO must ensure the contractor complies with CAS
    D) The CFAO is responsible for issuing a determination of adequacy
A

B) The CFAO must forward the statement to the contractor for approval

60
Q
  1. Which of the following is NOT part of the process for resolving CAS noncompliance under FAR 30.605?
    A) The contractor submits a revised cost proposal to address noncompliance
    B) The CFAO negotiates with the contractor to resolve cost impacts
    C) The contractor is required to pay a noncompliance penalty
    D) The CFAO adjusts contract prices to compensate for increased costs
A

C) The contractor is required to pay a noncompliance penalty

61
Q
  1. Which of the following is NOT a valid type of CAS coverage?
    A) Full CAS coverage
    B) Modified CAS coverage
    C) Educational institution CAS coverage
    D) Limited CAS coverage
A

D) Limited CAS coverage

62
Q
  1. Which of the following is NOT a reason for a contractor to submit a revised Disclosure Statement under FAR 30.202-7?
    A) The contractor has made a change to their cost accounting practices
    B) The contractor’s business has merged with another company
    C) The contractor’s financial situation has significantly changed
    D) The contractor’s contract volume has increased
A

D) The contractor’s contract volume has increased

63
Q
  1. Which of the following is NOT a type of contract financing payment listed under FAR Part 32?
    A) Advance payments
    B) Interim payments
    C) Progress payments based on percentage of completion
    D) Final payments
A

D) Final payments

64
Q
  1. Which of the following is NOT a condition for the use of performance-based payments as a financing method under FAR 32.1003?
    A) The contractor must have an adequate accounting system
    B) The payment must be for a commercial item contract
    C) The contracting officer must ensure the performance-based payments are measurable
    D) The performance-based payments must be less than or equal to the contract value
A

B) The payment must be for a commercial item contract

65
Q
  1. Which of the following is NOT a limitation on progress payments based on costs under FAR Part 32?
    A) Progress payments shall not exceed 80% of the eligible costs for small businesses
    B) The contractor must have an adequate accounting system
    C) Progress payments shall not be used in firm-fixed-price contracts
    D) Progress payments shall be liquidated as deliveries are made
A

C) Progress payments shall not be used in firm-fixed-price contracts

66
Q
  1. Which of the following is NOT an instance when advance payments are authorized under FAR Part 32.402?
    A) When the contractor lacks adequate working capital
    B) When the contract is for experimental work with uncertain costs
    C) When the contract performance is for a foreign government
    D) When the contract involves acquisition of real estate
A

D) When the contract involves acquisition of real estate

67
Q
  1. Which of the following is NOT considered when determining whether to approve advance payments under FAR 32.402?
    A) The contractor’s past performance
    B) The financial responsibility of the contractor
    C) The type and amount of security available
    D) The contractor’s compliance with safety regulations
A

D) The contractor’s compliance with safety regulations

68
Q
  1. Which of the following is NOT required to be included in a contract financing request for progress payments based on percentage or stage of completion under FAR Part 32?
    A) A description of the completed work
    B) An estimate of the total contract price
    C) A detailed statement of costs incurred
    D) An itemized list of all materials used in the contract
A

D) An itemized list of all materials used in the contract

69
Q
  1. Which of the following is NOT a type of security that may be required for advance payments under FAR 32.409?
    A) A lien on the contractor’s property
    B) Personal guarantee from the contractor
    C) Government-furnished property
    D) A letter of credit
A

C) Government-furnished property

70
Q
  1. Which of the following is NOT a statutory requirement related to contract financing under FAR 32.503?
    A) Limiting financing to small businesses
    B) Providing financing only when it is in the Government’s best interest
    C) Limiting financing to avoid unnecessary risk
    D) Requiring adequate financial protections for the government
A

A) Limiting financing to small businesses

71
Q
  1. Which of the following is NOT true about installment payments for commercial items under FAR 32.206?
    A) Installment payments can be used as a form of contract financing
    B) The contractor is required to submit periodic invoices for installment payments
    C) Installment payments may include interest
    D) Installment payments are a form of advance payment
A

C) Installment payments may include interest

72
Q
  1. Which of the following is NOT an authorized method of liquidation for progress payments under FAR Part 32?
    A) Liquidation by deducting progress payments from future billings
    B) Liquidation by applying progress payments to the final payment
    C) Liquidation by adjusting payments to match the work completed
    D) Liquidation by transferring funds to a government trust account
A

D) Liquidation by transferring funds to a government trust account

73
Q
  1. Which of the following is NOT a requirement for a contractor receiving performance-based payments under FAR 32.1007?
    A) Submission of a detailed description of completed work
    B) Certification of satisfactory progress by the contracting officer
    C) Submission of an annual cost accounting statement
    D) An adequate method for measuring contract performance
A

C) Submission of an annual cost accounting statement

74
Q
  1. Which of the following is NOT a criterion for determining whether to provide financing under FAR Part 32?
    A) The contractor’s need for financial assistance
    B) The availability of commercial financing
    C) The contractor’s previous experience with government contracts
    D) The risk to the government in providing financing
A

C) The contractor’s previous experience with government contracts

75
Q
  1. Which of the following is NOT true regarding interest charges on advance payments under FAR 32.407?
    A) Advance payments usually include interest charges
    B) Interest may be waived when it is in the government’s best interest
    C) Interest must always be applied to advance payments
    D) Interest is calculated based on the Treasury rate
A

C) Interest must always be applied to advance payments

76
Q
  1. Which of the following is NOT an option for financing contracts for commercial items under FAR 32.206?
    A) Customary progress payments
    B) Performance-based payments
    C) Installment payments
    D) Cost-based payments
A

D) Cost-based payments

77
Q
  1. Which of the following is NOT a purpose of contract financing as outlined in FAR 32.104?
    A) To ensure the financial health of the contractor
    B) To facilitate contract performance
    C) To expedite payments to contractors
    D) To support contractors in a competitive marketplace
A

A) To ensure the financial health of the contractor

78
Q
  1. Which of the following is NOT required for a contractor to receive performance-based payments under FAR 32.1007?
    A) The contractor must submit periodic invoices for completed work
    B) The contractor must provide performance-based financing information
    C) The contracting officer must approve the financing structure
    D) The contractor must maintain records supporting the performance milestones
A

A) The contractor must submit periodic invoices for completed work

79
Q
  1. Which of the following is NOT a method of determining contract financing payments for commercial items under FAR 32.206?
    A) Performance-based payments
    B) Progress payments based on costs incurred
    C) Installment payments
    D) Advance payments
A

B) Progress payments based on costs incurred

80
Q
A

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