FAC Cheat Sheet 2026

The 30 highest-yield FAC facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Which system is the authoritative source for federal contract and order data used by OMB, Congress, and the public? → Federal Procurement Data System – Next Generation (FPDS-NG)
2. Under FAR Part 30, the Cost Accounting Standards (CAS) apply to negotiated contracts above what threshold? → $2,000,000
3. Which FAR part governs the requirements for maintaining official contract files? → FAR Part 4
4. When using a Request for Quotation (RFQ) instead of a Request for Proposal (RFP), what is the key legal distinction regarding vendor responses? → Quotations are not offers and cannot be accepted to form a binding contract
5. Which technique BEST helps acquisition teams understand complex or evolving customer requirements? → Conducting industry days, RFIs, and pre-solicitation conferences
6. Which document formally records identified risks, their likelihood, potential impact, and planned responses for a federal acquisition? → Risk Register
7. Under EVMS, what does the 'Budget at Completion' (BAC) represent? → The total approved budget for all authorized contract work
8. A risk register entry shows a high-probability, high-impact risk with no mitigation strategy assigned. What should the acquisition team do first? → Develop a risk mitigation or contingency plan
9. A subcontractor has a dispute with the prime contractor. Under the CDA, can the subcontractor file a claim directly with the government CO? → No, CDA claims can only be filed by the prime contractor against the government
10. A contracting officer discovers a vendor submitted a false certification during source selection. Which statute primarily addresses this fraud? → The False Claims Act
11. Which type of audit is most appropriate to assess whether a contractor's accounting system properly segregates direct and indirect costs? → Accounting system audit (pre-award survey)
12. Which of the following acquisition strategies is designed to promote small business participation by setting aside portions of a larger acquisition? → Partial set-aside
13. Which of the following is an example of a semi-variable (mixed) cost? → A utility bill with a fixed monthly charge plus a per-unit usage fee
14. A requiring activity repeatedly submits incomplete statements of work. The BEST long-term solution is: → Provide training and templates to help the customer prepare complete requirements packages
15. Which concept describes the federal government's practice of recording obligations at the time contracts are awarded rather than when payments are made? → Obligational accounting (commitment accounting)
16. When a requiring activity submits requirements that are overly restrictive, what is the contracting officer's obligation? → Work with the customer to revise requirements to allow for maximum competition
17. Which compliance requirement applies when an agency modifies a contract to add new work that was not within the scope of the original competition? → The new work must be competed as a new acquisition unless a valid exception applies
18. What is the purpose of a 'funds availability certification' on a contract action? → To confirm that sufficient, legally available funds exist to cover the obligation
19. A contracting officer wants to use a Fixed-Price Incentive (Successive Targets) contract. Under FAR 16.403-2, when is this contract type most appropriate? → When a fair and reasonable firm target cannot be established at the outset
20. What is the foundation of professional ethics in Federal Acquisition Certification? → Acting with integrity, honesty, and accountability
21. What database must vendors register in to be eligible to receive federal contracts, and also serves as the primary repository for socioeconomic certifications? → System for Award Management (SAM.gov)
22. What does the term 'technical leveling' mean in the context of FAR 15.306 negotiations? → Helping an offeror bring a proposal up to the level of other proposals
23. Which communication style is most effective in Federal Acquisition Certification professional settings? → Assertive and respectful
24. Under FAR 3.502, the maximum civil penalty per violation of the Gratuities clause (FAR 52.203-3) is: → $50,000 or the value of the gratuity (whichever is greater)
25. What is the first step in the risk management process for Federal Acquisition Certification? → Identifying potential risks and hazards
26. Under FAR 15.405, what is the contracting officer required to do when a proposed price is determined to be unreasonable? → Negotiate with the offeror to reach a fair and reasonable price
27. When a contracting officer determines a price is 'fair and reasonable,' the standard applied is: → The price is what a prudent person would pay in a competitive marketplace
28. What is the role of documentation in Fraud Detection & Prevention for Federal Acquisition Certification? → It provides an accurate record for accountability and reference
29. How does collaboration enhance Claims Processing & Investigation in Federal Acquisition Certification? → It brings diverse perspectives and improves outcomes
30. Which FAR clause requires contractors on cost-reimbursement contracts to provide timely notice when costs are expected to exceed the estimated contract cost? → FAR 52.232-20, Limitation of Cost