CLC 056 Analyzing Contract Costs Exam (98% grade) 54/55 answered correct

CLC 056 Analyzing Contract Costs Exam (98% grade) 54/55 answered correct Identify strategies to mitigate cost risk Which of the following is the best strategy to mitigate cost risk?  Conduct adequate market research prior to entering negotiations Differentiate between the measures of central tendency and the methods for measuring dispersion When given a set of data that appears to contain outliers, which measure of central tendency is most appropriate to use?  Median Determine if an exception to the Truth-in-Negotiations Act applies Which of the following situations are considered exempt from the submission of certified cost or pricing data?  Prices are set by law or regulation Identify key terms involved during a contract negotiation What is the negotiation term that reflects each party emphasizing the long term effects and benefits as well as both parties defining their interests to be achieved in conjunction with the outcome?  Win-Win Identify factors that contribute to success in any negotiation Which of the following factors is critical to a successful negotiation?  Effectively prepare, plan, and communicate Calculate an objective using improvement curve analysis Given the improvement curve data, calculate the cost objective for unit #64. Labor hours for unit #32; 42,000 hours Labor ours for unit #1: 79,000 hours Rate of improvement: 20% improvement curve slope: 80% (question 6)  33,600 Identify cost analysis terms and techniques used when developing a prenegotiation position According to FAR 15.4, which of the following is one of the two most preferred price analysis techniques?  Comparison of proposed prices received in response to the solicitation Identify situations when an audit should be requested The purpose of an audit is to?  All of these are correct