CON 1300 EXAM GUIDE QUESTIONS
AND ANSWERS
The USDA Forest Service (FS) has a requirement for metal beams and miscellaneous
building materials commonly used in the Forest Service Visitor Centers. Because the
FS has previously purchased these items, there is data available on historical prices
paid. When performing the price analysis, which analysis technique is most appropriate
when converting historical prices to constant dollars for comparison purposes? -
ANSWER-Price indexing
Which of the statements below correctly describes the concept of fair and reasonable? -
ANSWER-The concept of "reasonable" is a price that a prudent and competent buyer
would be willing to pay given available knowledge of market conditions
Which of the following bases for comparison may the contracting officer use in
determining if a price is fair and reasonable? - ANSWER-Any or all of the above
Which of the following statements about cost analysis are false? Cost analysis is: -
ANSWER-Performed for requirements below the SAT
The Truthful Cost or Pricing Data (TCPD) Statute may be waived if: - ANSWER-The
head of the contracting activity (HCA) provides the authorization, in exceptional
circumstances, for the waiver and supporting rationale in writing
A contract that is identified with multiple cost objectives is: - ANSWER-An indirect cost
For cost-reimbursement type contracts, cost realism analysis is optional. True or False?
- ANSWER-False
Independently reviewing and evaluating specific elements of each offeror's proposed
cost estimate compared to the offeror's technical proposal is referred to as: - ANSWER-
cost realism analysis
Determining whether a cost is generally recognized as ordinary and necessary for the
conduct of business is one of the factors that must be considered in determining cost: -
ANSWER-reasonableness
An offer for quote under FAR Part 13 is a: - ANSWER-purchase order
You have been assigned the purchase of GPS units. You and your customer both agree
that this is a commercial product, there is adequate price competition, and there is little
if any performance risk. What contract type should you recommend to your internal
customer for the purchase of the GPS units? - ANSWER-Firm Fixed Price (FFP)
AND ANSWERS
The USDA Forest Service (FS) has a requirement for metal beams and miscellaneous
building materials commonly used in the Forest Service Visitor Centers. Because the
FS has previously purchased these items, there is data available on historical prices
paid. When performing the price analysis, which analysis technique is most appropriate
when converting historical prices to constant dollars for comparison purposes? -
ANSWER-Price indexing
Which of the statements below correctly describes the concept of fair and reasonable? -
ANSWER-The concept of "reasonable" is a price that a prudent and competent buyer
would be willing to pay given available knowledge of market conditions
Which of the following bases for comparison may the contracting officer use in
determining if a price is fair and reasonable? - ANSWER-Any or all of the above
Which of the following statements about cost analysis are false? Cost analysis is: -
ANSWER-Performed for requirements below the SAT
The Truthful Cost or Pricing Data (TCPD) Statute may be waived if: - ANSWER-The
head of the contracting activity (HCA) provides the authorization, in exceptional
circumstances, for the waiver and supporting rationale in writing
A contract that is identified with multiple cost objectives is: - ANSWER-An indirect cost
For cost-reimbursement type contracts, cost realism analysis is optional. True or False?
- ANSWER-False
Independently reviewing and evaluating specific elements of each offeror's proposed
cost estimate compared to the offeror's technical proposal is referred to as: - ANSWER-
cost realism analysis
Determining whether a cost is generally recognized as ordinary and necessary for the
conduct of business is one of the factors that must be considered in determining cost: -
ANSWER-reasonableness
An offer for quote under FAR Part 13 is a: - ANSWER-purchase order
You have been assigned the purchase of GPS units. You and your customer both agree
that this is a commercial product, there is adequate price competition, and there is little
if any performance risk. What contract type should you recommend to your internal
customer for the purchase of the GPS units? - ANSWER-Firm Fixed Price (FFP)
