CLC 056 ANALYZING CONTRACT COSTS
QUESTIONS AND ANSWERS 100% CORRECT!
, When is it most appropriate to document or model a contractor's proposal? - ANSWER -
When the value, importance, and complexity warrant the modeling.
The first step when conducting stratified sampling is to identify the population of items to
be sampled. - ANSWER - True
True or False: The national average mortgage rate is used in calculating Facilities
Capital Cost of Money (FCCOM) - ANSWER - False
Using a direct comparison with the cost of a similar contract effort is an acceptable
summary estimating technique. - ANSWER - True
Which of the following situations would exempt a contract or subcontract from CAS
coverage? - ANSWER - The contract or subcontract is with a small business.
True or False: Special test equipment that is engineered, designed, fabricated, or
modified to meet specific contract needs and cannot be used for other contracts can be
categorized as "other direct costs". - ANSWER - True
A "questioned cost" is one that has not yet been evaluated. - ANSWER - False
Which of the following situations are considered exempt from the submission of
Certified Cost or Pricing Data? - ANSWER - Prices are set by law or regulation.
What is the "base" that used in the calculation of the performance risk, contract type
risk, and cost efficiency factor when using the weighted guidelines to determine a
profit/fee objective? - ANSWER - Total Costs
A Disclosure Statement is required when Contractor receives a CAS covered contract,
or a subcontract valued at $60 million in a cost accounting period. - ANSWER - True
Which variable is also considered the independent variable? - ANSWER - X
The mean, median and mode are typically the same when a sample exhibits significant
dispersion. - ANSWER - False
How may you request an audit? - ANSWER - By e-mail, By telephone call, By mail
QUESTIONS AND ANSWERS 100% CORRECT!
, When is it most appropriate to document or model a contractor's proposal? - ANSWER -
When the value, importance, and complexity warrant the modeling.
The first step when conducting stratified sampling is to identify the population of items to
be sampled. - ANSWER - True
True or False: The national average mortgage rate is used in calculating Facilities
Capital Cost of Money (FCCOM) - ANSWER - False
Using a direct comparison with the cost of a similar contract effort is an acceptable
summary estimating technique. - ANSWER - True
Which of the following situations would exempt a contract or subcontract from CAS
coverage? - ANSWER - The contract or subcontract is with a small business.
True or False: Special test equipment that is engineered, designed, fabricated, or
modified to meet specific contract needs and cannot be used for other contracts can be
categorized as "other direct costs". - ANSWER - True
A "questioned cost" is one that has not yet been evaluated. - ANSWER - False
Which of the following situations are considered exempt from the submission of
Certified Cost or Pricing Data? - ANSWER - Prices are set by law or regulation.
What is the "base" that used in the calculation of the performance risk, contract type
risk, and cost efficiency factor when using the weighted guidelines to determine a
profit/fee objective? - ANSWER - Total Costs
A Disclosure Statement is required when Contractor receives a CAS covered contract,
or a subcontract valued at $60 million in a cost accounting period. - ANSWER - True
Which variable is also considered the independent variable? - ANSWER - X
The mean, median and mode are typically the same when a sample exhibits significant
dispersion. - ANSWER - False
How may you request an audit? - ANSWER - By e-mail, By telephone call, By mail
