CON 3990 Exam Study Guide UPDATED ACTUAL QUESTIONS AND CORRECT
ANSWERS
Allowable Cost: Reasonable? Yes
Allowable Cost: Realistic? No
Allowable Cost: Any limitations set forth in FAR subpart Yes
31.2?
, Allowable Cost: IAW the terms of the contract? Yes
Allowable Cost: IAW Common Law? No
Allowable Cost: Allocable? Yes
Allowable Cost: IAW Cost Accounting Standards; IAW Yes
Generally Accepted Accounting Standards?
Allowable Cost: Any Limitations set forth in FAR subpart No
15.1?
Modification Type: Exercising an Option Unilateral
Modification Type: Administrative Change Unilateral
Modification Type: An Agreement definitizing a letter Bilateral
contract
Modification Type: Modifying terms and conditions Bilateral
Modification Type: Negotiated equitable adjustment Bilateral
Modification Type: Issue a change order Unilateral
Contract type: Cost-Plus-Percentage of Cost Shall not be used
Contract type: FP-EPA Commercial Item & Sealed Bidding
Contract type: FFP Commercial Item & Sealed Bidding
Contract type: Cost-Plus-Incentive-Fee Incentive Contracts
Contract type: Cost-Plus-Award-Fee Incentive Contracts
Contract type: Fixed Price Incentive Firm Incentive Contracts
Cost or Pricing Data: Factual, not judgmental? Yes
Cost or Pricing Data: Opinions? No
ANSWERS
Allowable Cost: Reasonable? Yes
Allowable Cost: Realistic? No
Allowable Cost: Any limitations set forth in FAR subpart Yes
31.2?
, Allowable Cost: IAW the terms of the contract? Yes
Allowable Cost: IAW Common Law? No
Allowable Cost: Allocable? Yes
Allowable Cost: IAW Cost Accounting Standards; IAW Yes
Generally Accepted Accounting Standards?
Allowable Cost: Any Limitations set forth in FAR subpart No
15.1?
Modification Type: Exercising an Option Unilateral
Modification Type: Administrative Change Unilateral
Modification Type: An Agreement definitizing a letter Bilateral
contract
Modification Type: Modifying terms and conditions Bilateral
Modification Type: Negotiated equitable adjustment Bilateral
Modification Type: Issue a change order Unilateral
Contract type: Cost-Plus-Percentage of Cost Shall not be used
Contract type: FP-EPA Commercial Item & Sealed Bidding
Contract type: FFP Commercial Item & Sealed Bidding
Contract type: Cost-Plus-Incentive-Fee Incentive Contracts
Contract type: Cost-Plus-Award-Fee Incentive Contracts
Contract type: Fixed Price Incentive Firm Incentive Contracts
Cost or Pricing Data: Factual, not judgmental? Yes
Cost or Pricing Data: Opinions? No