CLC 056 ANALYZING CONTRACT COSTS
EXAM SCRIPT WITH VERIFIED QUESTIONS
AND ANSWERS
●● The first step when conducting stratified sampling is to identify the
population of items to be sampled.
Answer: - True
●● True or False: The national average mortgage rate is used in
calculating Facilities Capital Cost of Money (FCCOM)
Answer: - False
●● Using a direct comparison with the cost of a similar contract effort is
an acceptable summary estimating technique.
Answer: - True
●● Which of the following situations would exempt a contract or
subcontract from CAS coverage?
Answer: - The contract or subcontract is with a small business.
●● True or False: Special test equipment that is engineered, designed,
fabricated, or modified to meet specific contract needs and cannot be
used for other contracts can be categorized as "other direct costs".
, Answer: - True
●● A "questioned cost" is one that has not yet been evaluated.
Answer: - False
●● Which of the following situations are considered exempt from the
submission of Certified Cost or Pricing Data?
Answer: - Prices are set by law or regulation.
●● What is the "base" that used in the calculation of the performance
risk, contract type risk, and cost efficiency factor when using the
weighted guidelines to determine a profit/fee objective?
Answer: - Total Costs
●● A Disclosure Statement is required when Contractor receives a CAS
covered contract, or a subcontract valued at $60 million in a cost
accounting period.
Answer: - True
●● Which variable is also considered the independent variable?
Answer: - X
●● The mean, median and mode are typically the same when a sample
exhibits significant dispersion.
EXAM SCRIPT WITH VERIFIED QUESTIONS
AND ANSWERS
●● The first step when conducting stratified sampling is to identify the
population of items to be sampled.
Answer: - True
●● True or False: The national average mortgage rate is used in
calculating Facilities Capital Cost of Money (FCCOM)
Answer: - False
●● Using a direct comparison with the cost of a similar contract effort is
an acceptable summary estimating technique.
Answer: - True
●● Which of the following situations would exempt a contract or
subcontract from CAS coverage?
Answer: - The contract or subcontract is with a small business.
●● True or False: Special test equipment that is engineered, designed,
fabricated, or modified to meet specific contract needs and cannot be
used for other contracts can be categorized as "other direct costs".
, Answer: - True
●● A "questioned cost" is one that has not yet been evaluated.
Answer: - False
●● Which of the following situations are considered exempt from the
submission of Certified Cost or Pricing Data?
Answer: - Prices are set by law or regulation.
●● What is the "base" that used in the calculation of the performance
risk, contract type risk, and cost efficiency factor when using the
weighted guidelines to determine a profit/fee objective?
Answer: - Total Costs
●● A Disclosure Statement is required when Contractor receives a CAS
covered contract, or a subcontract valued at $60 million in a cost
accounting period.
Answer: - True
●● Which variable is also considered the independent variable?
Answer: - X
●● The mean, median and mode are typically the same when a sample
exhibits significant dispersion.
