CON 3900 Exam Study Guide With Complete Solution

Allowable Cost: Reasonable? - Answer Yes Allowable Cost: Realistic? - Answer No Allowable Cost: Any limitations set forth in FAR subpart 31.2? - Answer Yes Allowable Cost: IAW the terms of the contract? - Answer Yes Allowable Cost: IAW Common Law? - Answer No Allowable Cost: Allocable? - Answer Yes Allowable Cost: IAW Cost Accounting Standards; IAW Generally Accepted Accounting Standards? - Answer Yes Allowable Cost: Any Limitations set forth in FAR subpart 15.1? - Answer No Modification Type: Exercising an Option - Answer Unilateral Modification Type: Administrative Change - Answer Unilateral Modification Type: An Agreement definitizing a letter contract - Answer Bilateral Modification Type: Modifying terms and conditions - Answer Bilateral Modification Type: Negotiated equitable adjustment - Answer Bilateral Modification Type: Issue a change order - Answer Unilateral Contract type: Cost-Plus-Percentage of Cost - Answer Shall not be used Contract type: FP-EPA - Answer Commercial Item & Sealed Bidding Contract type: FFP - Answer Commercial Item & Sealed Bidding Contract type: Cost-Plus-Incentive-Fee - Answer Incentive Contracts Contract type: Cost-Plus-Award-Fee - Answer Incentive Contracts Contract type: Fixed Price Incentive Firm - Answer Incentive Contracts Cost or Pricing Data: Factual, not judgmental? - Answer Yes Cost or Pricing Data: Opinions? - Answer No