CLC 056 Analyzing Contract Costs|\ |\ |\ |\ |\
questions with answers |\ |\
When is it most appropriate to document or model a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
contractor's proposal? - CORRECT ANSWERS ✔✔- 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. -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔- True |\ |\ |\
True or False: The national average mortgage rate is used
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
in calculating Facilities Capital Cost of Money (FCCOM) -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔- False |\ |\ |\
Using a direct comparison with the cost of a similar
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
contract effort is an acceptable summary estimating |\ |\ |\ |\ |\ |\ |\
technique. - CORRECT ANSWERS ✔✔- True |\ |\ |\ |\ |\
Which of the following situations would exempt a contract
|\ |\ |\ |\ |\ |\ |\ |\
or subcontract from CAS coverage? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔- 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". - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔- True |\ |\
A "questioned cost" is one that has not yet been
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
evaluated. - CORRECT ANSWERS ✔✔- False |\ |\ |\ |\ |\
Which of the following situations are considered exempt
|\ |\ |\ |\ |\ |\ |\ |\
from the submission of Certified Cost or Pricing Data? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔- 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? - CORRECT ANSWERS ✔✔- 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. - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔- True |\ |\
questions with answers |\ |\
When is it most appropriate to document or model a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
contractor's proposal? - CORRECT ANSWERS ✔✔- 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. -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔- True |\ |\ |\
True or False: The national average mortgage rate is used
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
in calculating Facilities Capital Cost of Money (FCCOM) -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔- False |\ |\ |\
Using a direct comparison with the cost of a similar
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
contract effort is an acceptable summary estimating |\ |\ |\ |\ |\ |\ |\
technique. - CORRECT ANSWERS ✔✔- True |\ |\ |\ |\ |\
Which of the following situations would exempt a contract
|\ |\ |\ |\ |\ |\ |\ |\
or subcontract from CAS coverage? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔- 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". - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔- True |\ |\
A "questioned cost" is one that has not yet been
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
evaluated. - CORRECT ANSWERS ✔✔- False |\ |\ |\ |\ |\
Which of the following situations are considered exempt
|\ |\ |\ |\ |\ |\ |\ |\
from the submission of Certified Cost or Pricing Data? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔- 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? - CORRECT ANSWERS ✔✔- 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. - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔- True |\ |\
