CON 1300 Exam (Latest 2024/ 2025 Update) Questions and Verified Answers-100% Correct- Grade A

CON 1300 Exam (Latest 2024/ 2025 Update) Questions and Verified Answers-100% Correct- Grade A Q: Proposal analysis is done by a contracting officer to determine proposed prices to be ____ and _____ in all contract actions Answer: Fair and Reasonable Q: Proposal Analysis Techniques Answer: 1. Price 2. Cost 3. Cost Realism 4. Technical Analysis 5. Unit Pricing and Unbalanced Pricing Q: Cost Realism Analysis Answer: The process of independently reviewing and evaluating specific elements of each offeror's proposed cost estimate to determine whether the estimated proposed cost elements. Required for all cost type contracts and must be in accordance with solicitation contract award criteria Q: Direct Cost Answer: Any cost directly identified with a single, final cost objective Q: Indirect Cost Answer: Any cost not directly identified with a single, final cost objective, but identified with two or more final cost objectives or with at least one intermediate cost objective Q: Cost realism may be used for fixed price contracts when Answer: 1. New requirements may not be fully understood by competing offerors 2. There are quality concerns 3. Past experience on the contractor yields quality or service shortfalls Q: When to use Cost Analysis Answer: 1. Shall be performed on cost-reimbursement contracts to determine the probable cost of performance for each offeror 2. Shall be used for Truth in Negotiation Act (TINA) 3. May also be used on competitive fixed-price incentive contracts or, in exceptional cases, on other competitive fixed-price-type contracts when negotiating a sole source or when competition is not available in order to determine a price to be fair and reasonable as data other than certified cost or pricing data Q: Cost Analysis Focuses on the reasonableness of each estimated cost element and adds a reasonable rate of profit/fee to arrive at the contract price Q: Truth in Negotiation Act (TI