CLC 058 Introduction to Contract Pricing
1. True or False: If a cost is considered to be allocable to a particular contract, then the FAR considers that
same cost to be allowable
a. True
b. False
2. Which of the following is FIRST in the order of preference when determining the type of pricing
information required?
a. Certified cost or pricing data
b. No additional information from the offeror if the price is based on adequate price competition
c. Uncertified cost or pricing data
d. Data other than certified cost or pricing data (e.g. Established catalog or market prices, sales to
non- government and government entities)
3. True or False: Certified cost or pricing data must be factual data, and must not include judgmental information
a. True
b. False
4. Which of the following refers to a charge to current operations that distributes the cost of a tangible
capital asset, less estimated residual value, over the estimated useful life of an asset?
a. Distribution
b. Allocation
c. Allotment
d. Depreciation
5. If the Government relies on cost or pricing data and that data is found to be defective after award:
a. No remedy is provided without contractor concurrence
b. No remedy is provided after award of the contract
c. A remedy is provided on direct costs plus profit or fee
d. A remedy is provided, but only on the elements of direct cost
6. Certified cost or pricing data is considered to be:
a. What a prudent and competent buyer would be willing to pay for a supply or service
b. An imputed cost determined by applying a cost of money rate
c. Accurate, complete and current as of a date before contract award
d. Identified with only one final cost objective
7. There are 12 cost accounting standards
a. True
b. False
8. The Christian Doctrine in contracting dictates that if the FAR requires that a clause which addresses an
important topic be included in a government contract, and if the contracting officer mistakenly omits the
clause, the courts can interpret the contract as though the clause was in fact included in the contract.
True or False: The cost accounting standards are covered by the Christian Doctrine
a. True
b. False
9. Which TWO are the preferred proposal analysis techniques according to the FAR?
a. Comparison of proposed prices received in response to the solicitation
b. Comparison of previously proposed prices and previous Government and commercial contract
prices with current proposed prices for the same or similar items
c. Comparison of proposed prices with prices obtained through market research for the same or
similar items
d. Comparison with competitive published price lists, published maret prices of commodities,
similar indexes, and discount or rebate arrangements
This study source was downloaded by 100000812546443 from CourseHero.com on 06-12-2024 02:03:27 GMT -05:00
https://www.coursehero.com/file/87614164/CLC-058-Exam-Helpdocx/
1. True or False: If a cost is considered to be allocable to a particular contract, then the FAR considers that
same cost to be allowable
a. True
b. False
2. Which of the following is FIRST in the order of preference when determining the type of pricing
information required?
a. Certified cost or pricing data
b. No additional information from the offeror if the price is based on adequate price competition
c. Uncertified cost or pricing data
d. Data other than certified cost or pricing data (e.g. Established catalog or market prices, sales to
non- government and government entities)
3. True or False: Certified cost or pricing data must be factual data, and must not include judgmental information
a. True
b. False
4. Which of the following refers to a charge to current operations that distributes the cost of a tangible
capital asset, less estimated residual value, over the estimated useful life of an asset?
a. Distribution
b. Allocation
c. Allotment
d. Depreciation
5. If the Government relies on cost or pricing data and that data is found to be defective after award:
a. No remedy is provided without contractor concurrence
b. No remedy is provided after award of the contract
c. A remedy is provided on direct costs plus profit or fee
d. A remedy is provided, but only on the elements of direct cost
6. Certified cost or pricing data is considered to be:
a. What a prudent and competent buyer would be willing to pay for a supply or service
b. An imputed cost determined by applying a cost of money rate
c. Accurate, complete and current as of a date before contract award
d. Identified with only one final cost objective
7. There are 12 cost accounting standards
a. True
b. False
8. The Christian Doctrine in contracting dictates that if the FAR requires that a clause which addresses an
important topic be included in a government contract, and if the contracting officer mistakenly omits the
clause, the courts can interpret the contract as though the clause was in fact included in the contract.
True or False: The cost accounting standards are covered by the Christian Doctrine
a. True
b. False
9. Which TWO are the preferred proposal analysis techniques according to the FAR?
a. Comparison of proposed prices received in response to the solicitation
b. Comparison of previously proposed prices and previous Government and commercial contract
prices with current proposed prices for the same or similar items
c. Comparison of proposed prices with prices obtained through market research for the same or
similar items
d. Comparison with competitive published price lists, published maret prices of commodities,
similar indexes, and discount or rebate arrangements
This study source was downloaded by 100000812546443 from CourseHero.com on 06-12-2024 02:03:27 GMT -05:00
https://www.coursehero.com/file/87614164/CLC-058-Exam-Helpdocx/
