Certified Federal Contract Manager (CFCM) Practice Exam

The statement that the government-wide commercial purchase card is the preferred means for micro-purchases is correct. Micro-purchases, which are defined as small purchases below a certain dollar threshold, allow federal agencies to streamline their procurement processes. The use of the government-wide commercial purchase card facilitates efficient purchasing for these transactions, enabling agencies to acquire goods and services quickly without the need for lengthy procurement procedures. This method not only saves time but also reduces administrative burden, allowing for more agility in fulfilling smaller-scale needs.

In contrast, the other choices outline misinformation or restrictions that do not align with the established guidelines for micro-purchases. For example, micro-purchases are actually designed to be flexible, and they can be made through various means, including credit cards and not just cash. Furthermore, there is no requirement for these purchases to always be publicly advertised, as micro-purchases are typically exempt from many of the complex regulations that govern larger procurements. Overall, utilizing the government-wide commercial purchase card for these small transactions aligns with federal acquisition strategies aimed at improving efficiency.