CON 3900 Cost and Price Analysis Test Questions With Correct Answers
CON 3900 Cost and Price Analysis Test Questions With Correct Answers What is the definition of Price? - Answer-cost plus any fee or profit What is the Government's Pricing Policy? - Answer-comes from reasonable sources, and is done independently and separately; must be fair and reasonable Source Selection in regards to price - Answer-price or cost should be evaluated in SS procedures, even in event of trade off (is the Government willing to pay more for whatever the trade off is?) What does the Technical Team evaluate during SS procedures? - Answer-evaluate hours, hourly wages for labor, materials, etc. (direct costs) The process of examining and evaluating a proposed price w/out evaluating separate cost elements and proposed profit - Answer-Price Analysis shall be used when certified cost or pricing data are not required - Answer-Price Analysis shall be used when certified cost or pricing data are required - Answer-Cost Analysis Review and evaluation of any separate cost elements and profit or fee in an offeror's proposal; focuses on independent cost elements - Answer-Cost Analysis Independently reviewing and evaluating specific elements of each proposed cost estimate - Answer-Cost Realism Shall be performed on cost-reimbursement contracts to determine the probable costs of performance for each offeror - Answer-Cost Realism
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