2023 CLC 056 CLC 056 Analyzing Contract Costs Exam QUESTIONS AND ANSWERS GRADED A

2023 CLC 056 CLC 056 Analyzing Contract Costs Exam QUESTIONS AND ANSWERS GRADED A 1. Identify the circumstances when cost analysis should be performed by answering the following question: “Unless an exception to certified cost or pricing data applies, you can perform cost analysis on which of the following procurements? a. All of these are correct b. The award of a subcontract at any tier, if the contractor and each higher-tier subcontractor have been required to furnish certified cost or pricing data. c. The modification of any sealed bid or negotiated contract d. The award of any negotiated contract (except for undefinitized actions such as letter contracts. 2. What is the best method for determining an improvement curve slope? a. Using the median percentage from similar products b. Using established slopes from the Cost Estimator’s Reference Manual c. Using actual historical data d. Using averages derived from recent procurements 3. Each Price Negotiation Memorandum must contain which one of the following? a. Statement that the price is fair and reasonable b. Signature of the Contract Specialist c. Signature of the Legal Counsel d. Statement that the FAR was consistently followed. 4. Which sampling technique is used to focus on high-value items? a. Random b. Stratified c. Cluster d. Nonprobability 5. Which of the following type of costs would most likely be categorized as both direct costs and indirect costs, depending on the circumstance? a. G&A Overhead b. Utilities c. Direct Material d. Travel Expense 6. Using a direct comparison with the cost of a similar contract effort is an acceptable summary estimating technique. a. True b. False 7. Identify when cost analysis would be required. a. For all proposals exceeding the micro purchase threshold b. Whenever a price proposal is received c. When certified cost or pricing data are required d. To evaluate profit or fee 8. What two costs elements are required to calculate an indirect cost rate? a. Expense pool and Allocation base b. Overhead rate and Expense base c. Allocation Pool and Expense base d. Allocation base and Overhead rate 9. In reviewing the proposal for the robotic surveillance vehicle you asked for clarification on the travel cost listed as an ODC. Which response would justify travel as an ODC? a. The travel costs are for the project manager and the manufacturing supervisor to deliver the prototype to the Government