CLC 056 Analyzing Contract Costs Exam Questions And Answers GRADED A

CLC 056 Analyzing Contract Costs Exam Questions And Answers GRADED A  Which of the following situations are considered exempt from the submission of Certified Cost or Pricing Data? • Prices are set by law or regulation • Sole source acquisition of $3.5M FFP effort; price determined using cost analysis • Price may be determined fair and reasonable based on price analysis proposal techniques • Non-commercial modification of a commercial item. Modification funded by DoD and constitutes 5% of value of modification  When given a set of data that appears to contain outliers, which measure of central tendency is most appropriate to use? • Median • Coefficient of Determination • Mean • Mode  What is an important driver to a successful negotiation? • Listen to understand • Ensure your position is heard • Maintain position of power • Obtain the lowest price for the government  Which of the following would be a proper method of determining the reasonableness of a contractor’s proposed labor hour estimate? • Compare proposed hours with a Government should-cost estimate • Compare proposed hours with all other contracts from the same contractor • Decrement labor hours estimate according to DCAA standard decrement • Use a stratified sampling techniques to evaluate contractor’s labor hour estimate  Which of the following situations would exempt a contract or subcontract from CAS coverage? • The contract or subcontract is with a small business • Value of the contract or subcontract is $7.5M or less • The Economic Price Adjustment clause for a commercial item is based on an index formulated with a contractor’s historical cost data • Sole source firm fixed price contract requiring submission of cost or pricing data  True or False: “Direct labor positions” share the same titles and pay levels. • True • False  Which situation below would you use improvement curve analysis to evaluating proposed costs? • Assembly line with high proportion of manual labor • Fabrication plant that generates 100,000 units per month • Production facility specializing in “one-off” or unique item production • Fully automated assembly line  Using a direct comparison with the cost of a similar contract effort is an acceptable summary