CLC 056 ANALYZING CONTRACT COSTS
COMPREHENSIVE STUDY GUIDE 2026 FULL
QUESTIONS AND SOLUTIONS GRADED A+
◍ How may you request an audit?.
Answer: - By e-mail, By telephone call, By mail
◍ The BBOMS proposal uses the comparison method instead of the
round-table method to estimate hours. Which of these situations warrants the
use of a round-table estimate?.
Answer: The contract is for a unique item, and with no historical data
available such as detailed drawings or bill of materials.
◍ What are the preferred techniques used in "price analysis?".
Answer: (i) Comparison of proposed prices received in response to the
solicitation(ii) Comparison of previously proposed prices and previous
Government and commercial contract prices with current proposed prices
for the same or similar items— are the preferred techniques.
◍ This characterizes a direct cost.
Answer: Identified specifically with a particular final cost objective.
◍ A non-developmental item is a supply or service regularly used in the course
of normal business operations for non-Governmental purposes, and is
typically sold to the general public..
Answer: False
◍ Which of the following are characteristics of an acceptable cost estimating
system? (Select all that apply).
Answer: Provides for detection and timely correction of errorsIdentifies the
sources of data and the estimating methods and rationale used in developing
cost estimateProvides a written description of the organization and duties of
, the personnel responsible for preparing, reviewing, and approving cost
estimates
◍ Which of the following are examples of cost drivers?.
Answer: Aspects of the proposal or contract requirements that if changed
would have a major impact on contract price.
◍ This statement describes the difference between the terms Cost and Price..
Answer: Price includesCost plus any fee or profit applicable to the contract.
◍ Which of the following are factors of most successful negotiations? (Select
all that apply).
Answer: Effectively prepare and planCommunicate effectivelyFoster team
cooperationApply good business judgment
◍ What type of cost is "Cost of souvenirs, models, imprinted clothing, buttons,
and other mementos provided to customers or the public. Cost of souvenirs,
models, imprinted clothing, buttons, and other mementos provided to
customers or the public?".
Answer: Unallowable
◍ Which of the following situations should you consider subcontractor
proposal analysis? (Select all that apply).
Answer: The business relationship between the prime contractor and the
subcontractor is not conducive to independence and objectivity.The prime
contractor is a sole source and the subcontract cost represents a substantial
part of the proposed contract cost.The prime contractor has been denied
access to the subcontractor's records.
◍ What is the range for the following numbers?13, 12, 9, 15, 11, 16, 17, 8, 12,
7, 12.
Answer: Range = Max-Min = 10
◍ Direct cost.
Answer: Any cost that is identified specifically with a particular final cost
objective. Direct costs are not limited to items that are incorporated in the
end product as material or labor. Costs identified specifically with a contract
COMPREHENSIVE STUDY GUIDE 2026 FULL
QUESTIONS AND SOLUTIONS GRADED A+
◍ How may you request an audit?.
Answer: - By e-mail, By telephone call, By mail
◍ The BBOMS proposal uses the comparison method instead of the
round-table method to estimate hours. Which of these situations warrants the
use of a round-table estimate?.
Answer: The contract is for a unique item, and with no historical data
available such as detailed drawings or bill of materials.
◍ What are the preferred techniques used in "price analysis?".
Answer: (i) Comparison of proposed prices received in response to the
solicitation(ii) Comparison of previously proposed prices and previous
Government and commercial contract prices with current proposed prices
for the same or similar items— are the preferred techniques.
◍ This characterizes a direct cost.
Answer: Identified specifically with a particular final cost objective.
◍ A non-developmental item is a supply or service regularly used in the course
of normal business operations for non-Governmental purposes, and is
typically sold to the general public..
Answer: False
◍ Which of the following are characteristics of an acceptable cost estimating
system? (Select all that apply).
Answer: Provides for detection and timely correction of errorsIdentifies the
sources of data and the estimating methods and rationale used in developing
cost estimateProvides a written description of the organization and duties of
, the personnel responsible for preparing, reviewing, and approving cost
estimates
◍ Which of the following are examples of cost drivers?.
Answer: Aspects of the proposal or contract requirements that if changed
would have a major impact on contract price.
◍ This statement describes the difference between the terms Cost and Price..
Answer: Price includesCost plus any fee or profit applicable to the contract.
◍ Which of the following are factors of most successful negotiations? (Select
all that apply).
Answer: Effectively prepare and planCommunicate effectivelyFoster team
cooperationApply good business judgment
◍ What type of cost is "Cost of souvenirs, models, imprinted clothing, buttons,
and other mementos provided to customers or the public. Cost of souvenirs,
models, imprinted clothing, buttons, and other mementos provided to
customers or the public?".
Answer: Unallowable
◍ Which of the following situations should you consider subcontractor
proposal analysis? (Select all that apply).
Answer: The business relationship between the prime contractor and the
subcontractor is not conducive to independence and objectivity.The prime
contractor is a sole source and the subcontract cost represents a substantial
part of the proposed contract cost.The prime contractor has been denied
access to the subcontractor's records.
◍ What is the range for the following numbers?13, 12, 9, 15, 11, 16, 17, 8, 12,
7, 12.
Answer: Range = Max-Min = 10
◍ Direct cost.
Answer: Any cost that is identified specifically with a particular final cost
objective. Direct costs are not limited to items that are incorporated in the
end product as material or labor. Costs identified specifically with a contract
