Practice Test Geeks(CCM) Certified Commercial Manager Practice Test
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Regulatory Framework & Compliance Flashcards

7 cards from real CCM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Regulatory Framework & Compliance flashcards as text

  1. Under the Uniform Commercial Code (UCC), which article primarily governs the sale of goods in commercial transactions?

    Answer: Article 2

    UCC Article 2 governs the sale of goods, establishing default rules for commercial sales contracts.

  2. A commercial manager discovers that a supplier is violating OSHA workplace safety regulations. What is the FIRST appropriate action?

    Answer: Document the violation and notify legal counsel

    Documenting the violation and notifying legal counsel ensures the company handles the issue properly and protects against downstream liability.

  3. Which federal law prohibits price-fixing agreements between competitors in commercial markets?

    Answer: Sherman Antitrust Act

    Section 1 of the Sherman Antitrust Act explicitly prohibits contracts, combinations, or conspiracies in restraint of trade, including price-fixing.

  4. What does 'force majeure' in a commercial contract typically protect against?

    Answer: Unforeseeable events beyond a party's control

    Force majeure clauses excuse non-performance due to extraordinary, unforeseeable events such as natural disasters, wars, or government actions.

  5. The Foreign Corrupt Practices Act (FCPA) makes it illegal for U.S. companies to do which of the following?

    Answer: Bribe foreign government officials to obtain business

    The FCPA prohibits U.S. persons and entities from bribing foreign officials to obtain or retain business advantages.

  6. In U.S. government contracting, a 'Contracting Officer's Technical Representative' (COTR) is primarily responsible for:

    Answer: Monitoring contractor technical performance

    The COTR monitors day-to-day technical performance of contractors but does not have authority to change contract terms or award contracts.

  7. Which regulatory concept requires companies to maintain records of all communications related to a federal contract for a specified retention period?

    Answer: Records Retention Policy

    Records retention policies, often mandated by FAR Part 4, require contractors to preserve contract-related documents for inspection and audit purposes.