FAC-C BUNDLED CERTIFICATION SCRIPT 2026 QUESTIONS WITH SOLUTIONS GRADED A+

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FAC-C BUNDLED CERTIFICATION SCRIPT 2026 QUESTIONS WITH SOLUTIONS GRADED A+

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FAC-C BUNDLED CERTIFICATION SCRIPT 2026 QUESTIONS WITH SOLUTIONS GRADED A+

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FAC-C BUNDLED CERTIFICATION SCRIPT 2026
QUESTIONS WITH SOLUTIONS GRADED A+

● Cost Principles. Answer: FAR Part 31 allowable costs

● Allowable Cost. Answer: Reimbursable under cost-type contract

● Unallowable Cost. Answer: Not reimbursable government cost

● Direct Cost. Answer: Charged to specific contract

● Indirect Cost. Answer: Overhead not assigned to one contract

● G&A. Answer: General and Administrative overhead rate

● Overhead Rate. Answer: Indirect cost allocation rate

● Fringe Benefits. Answer: Employee benefit cost recovery

● Compensation. Answer: Salaries and wages cost principle

● Independent Research and Development. Answer: IR&D allowable cost

● Bid and Proposal Costs. Answer: B&P costs allowable on cost contracts

● Cost Accounting Standards. Answer: CAS compliance requirements

● CAS Board. Answer: Cost Accounting Standards Board

● Disclosure Statement. Answer: CAS practices documentation

● CAS Coverage. Answer: When CAS applies to contracts

● Consistent Accounting. Answer: Using same methods across contracts

● Advance Agreement. Answer: Pre-contract cost determination

● Forward Pricing Rate Agreement. Answer: FPRA negotiated rate agreement

● Final Indirect Cost Rate. Answer: Settled after fiscal year

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Uploaded on: April 21, 2026
Number of pages: 3
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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