CPCM

CPCM practice questions, page 2 of 6, with answer review and explanations.

Question 6

The pricing arrangements fall into which of the following categories:

  1. Fixed-price
  2. cost-reimbursement
  3. Time-and-material contracts
  4. All of the above

Question 7

A pre-contract agreement that merely communicates any agreed-to terms and conditions that will apply when an order is placed by the buyer is known as:

  1. Macro agreement
  2. Universal agreement
  3. Fixed agreement
  4. Approved agreement

Question 8

What clause can provide for price increases based on the seller’s costs but not on the seller’s decision to increase the prices of its products and services?

  1. Economic price adjustment
  2. Variable-price adjustment
  3. Prices & Taxes adjustment
  4. Appropriate price adjustment

Question 9

Governments commonly use what type of contracts when contracting with universities and non-profit organizations for research projects?

  1. Written contracts
  2. Variable contracts
  3. Cost reimbursement contracts
  4. Cost sharing contracts

Question 10

The cost-plus-a-percentage-of-cost contract provides for the seller to receive reimbursement for its actual cost and a profit component, called __________, equal to some predetermined percentage of its actual costs.

  1. fee
  2. statement
  3. penalty
  4. None of the above