Ace the CPCM Challenge 2025 – Unlock Your Contract Management Superpowers!

The Federal Acquisition Regulation (FAR) primarily governs the process of acquiring goods and services through contracts by federal agencies. It establishes standardized procedures and guidelines to ensure that federal procurement is conducted in a fair, consistent, and legally compliant manner. This regulatory framework covers all aspects of acquisition management, including planning, solicitation, evaluation, and contract award, thereby facilitating efficient and effective procurement practices.

The other options do not align with the scope of FAR. Approvals of international treaties fall under the jurisdiction of foreign relations agencies and are not addressed by the FAR. The establishment of pricing strategies for contracts may be influenced by FAR guidelines, but specific pricing strategies are not a governing function of FAR itself. Similarly, while FAR includes provisions relating to labor laws, the regulation of employee wages in federal contracts is not its primary focus, as this falls more under labor law regulations and specific statutes rather than acquisition regulations. Thus, the correct choice clearly highlights the foundational role of FAR in federal procurement processes.