CON 170 Exam 1 Review Test Submission, Complete Solution 100%

Review Test Submission: Exam 1 CON 170 User Course CON170_20055-Virtual Instructor-Led Training;06/16/2020 08:00 AMTest Exam 1 CON 170 Started 6/19/20 9:19 AM Submitted 6/19/20 11:46 AM Status Completed Attempt Score Grade not available. Time Elapsed 2 hours, 26 minutes out of 2 hours and 30 minutes Results Displayed Submitted Answers, Incorrectly Answered Questions • Question 1 4 out of 4 points Which of the following is NOT an exception to the requirement for Certified Cost and Pricing Data? Selected Answer: b. Small Disadvantaged Business • Question 2 4 out of 4 points Regarding the use of Performance Based Payments, which of the following statements is FALSE? Selected Answer: a. A performance based payment constitutes acceptance of a good or service • Question 3 4 out of 4 points FAR 30.101(a) requires that contractors with CAS covered contracts: Selected c. Answer:Comply with CAS, disclose practices in writing, and consistently follow those practices • Question 4 4 out of 4 points Which of the following statements are correct regarding data other than certified cost or pricing data? Selected Answer: c. Data other than certified cost or pricing data means pricing data, cost data and judgemental information necessary for the contracting officer to determine a fair and reasonable price or to determine cost realism • Question 5 4 out of 4 points Market research is: Selected Answer: d. A continuous process regulated by FAR Part 10 • Question 6 4 out of 4 points Which of the following techniques may be used in order to identify potentially qualified sources for your acquisition? Selected Answer: d. All of these • Question 7 4 out of 4 points When may the Contracting Officer award a CAS covered contract? Selected Answer: b. After the CFAO has made a written determination that a required disclosure statement is adequate • Question 80 out of 4 points Which one of the following would most likely require the submission of certified cost or pricing data? Selected Answer: b. An offer from a sole-source utility provider on a Government unique requirement valued at $2 million • Question 9 4 out of 4 points In a cost reimbursement contract, which clause(s) require(s) the contractor to deliver their best efforts? Selected Answer: b. FAR 52.232-20 or FAR 52.232-22 • Question 10 4 out of 4 points In contracts with commercial organizations, a cost is allowable if it is: Selected Answer: c. reasonable, allocable, compliant with contract terms, compliant with CAS (if applicable) and GAAP, and compliant with FAR Subpart 31.2 • Question 11 4 out of 4 points Based on market research for a new security guard contract, you have collected the information presented below. Calculate the Range, Average, and Range/Avg for both $ per post and $ per hour. Using those calculations, decide which of the following statements are TRUE? Contract Price Guard Posts $ per post (to the nearest whole dollar) Hours $ per hour (to three decimal places) 1 4,395,000 8 600,0002 2,001,000 4 273,500 3 3,500,000 6 480,000 Range Avg Range/Avg Selected Answer: d. $ per hour is the CER that best predicts the dependent variable because it has a narrow relative range compared to $ per post • Question 12 4 out of 4 points Which of the following describes a market situation where there is only one major buyer for a class of items? Selected Answer: a. Monopsony • Question 13 4 out of 4 points Use the following data to calculate the variable and fixed cost elements: Quantity Total Cost Avg. Unit Cost 8 $13,630.00 $1,703.75 16 $14,110.00 $881.88 28 $14,830.00 $529.64 50 $16,150.00 $323.00 85 $18,250.00 $214.71 101 $19,210.00 $190.20 175 $23,650.00 $135.14 240 $27,550.00 $114.79 Selected Answe