CLC 056 Analyzing Contract Costs Study Guide
QUESTIONS WITH RIGHT ANSWERS.
According,to,FAR,15.4,,which,of,the,following,is,one,of,the,two,most,preferred,price,analysis,techniques?,,
ANS,,-Comparison,of,proposed,prices,received,in,response,to,the,solicitation,*
How,may,you,request,an,audit?,,ANS,,-All,of,these,are,correct
A,"questioned,cost",is,one,that,has,not,yet,been,evaluated.,,ANS,,-False,*
True,or,False:,"Direct,labor,positions",share,the,same,titles,and,pay,levels.,,ANS,,-False,*
For,which,of,the,following,procurements,would,you,require,certified,cost,or,pricing,data?,,ANS,,-
An,offer,of,$800,000,for,an,item,from,the,only,known,source,of,an,electronic,system,unique,to,Governme
nt,requirements.
How,is,simple,linear,regression,used?,,ANS,,-
To,make,predictions,about,one,dependent,variable,based,on,one,independent,variable,*
Which,of,the,following,is,a,phase,in,the,allocation,cycle?,,ANS,,-Final,Allocation,Phase
You,are,preparing,to,negotiate,a,service,task,for,routine,maintenance,of,Government,equipment.,A,sampl
e,of,25,records,for,similar,maintenance,tasks,indicates,that,the,average,time,required,to,perform,similar,
maintenance,tasks,has,been,six,hours,and,40,minutes.,How,can,you,use,this?,,ANS,,-
Selecting,the,appropriate,contract,type
Developing,a,price,negotiation,objective,for,labor,costs,*
Evaluating,the,bill,of,materials
Assigning,the,risk,factors,for,profit,calculations
The,purpose,of,an,audit,is,to:,,ANS,,-Verify,transaction,legality
Determine,if,the,data,is,accurate,and,complete
, All,of,these,are,correct,*
Determine,the,degree,of,compliance,with,established,procedures
Who,has,the,authority,to,waive,CAS,applicability,for,a,particular,contract?,,ANS,,-The,Agency,Head,*
A,cost,is,allowable,if,it,is:,,ANS,,-Reasonable,,allocable,and,compliant,with,CAS/GAAP,*
What,is,an,important,driver,to,a,successful,negotiation?,,ANS,,-Listen,to,understand,*
Which,regression,method,assumes,a,linear,relationship,between,the,dependent,and,independent,variabl
es?,,ANS,,-Simple,linear,regression,*
What,is,the,single,most,important,decision,the,Contracting,Officer,must,make,to,mitigate,cost,risk?,,ANS,,-
Selection,of,contract,type,*
When,a,contract,is,subject,to,CAS,,the,Contracting,Officer,may,not,award,a,contract,until,a,written,adequ
acy,determination,has,been,made,by,the,cognizant,Federal,agency,official.,,ANS,,-True
Each,Price,Negotiation,Memorandum,must,contain,which,one,of,the,following?,,ANS,,-
Statement,that,the,price,is,fair,and,reasonable,*
Select,the,item,below,that,would,likely,be,categorized,as,a,Direct,Material,Cost.,,ANS,,-
The,purchase,of,104,motor,assemblies,needed,to,manufacture,vehicles,*
Using,a,direct,comparison,with,the,cost,of,a,similar,contract,effort,is,an,acceptable,summary,estimating,te
chnique.,,ANS,,-True,*
Which,of,the,following,would,be,a,proper,method,of,determining,the,reasonableness,of,a,contractor's,pro
posed,labor,hour,estimate?,,ANS,,--Compare,proposed,hours,with,a,Government,should-cost,estimate,*
A,Disclosure,Statement,is,required,when,Contractor,receives,a,CAS,covered,contract,or,a,subcontract,valu
ed,at,$60,million,in,a,cost,accounting,period.,,ANS,,-True,*
QUESTIONS WITH RIGHT ANSWERS.
According,to,FAR,15.4,,which,of,the,following,is,one,of,the,two,most,preferred,price,analysis,techniques?,,
ANS,,-Comparison,of,proposed,prices,received,in,response,to,the,solicitation,*
How,may,you,request,an,audit?,,ANS,,-All,of,these,are,correct
A,"questioned,cost",is,one,that,has,not,yet,been,evaluated.,,ANS,,-False,*
True,or,False:,"Direct,labor,positions",share,the,same,titles,and,pay,levels.,,ANS,,-False,*
For,which,of,the,following,procurements,would,you,require,certified,cost,or,pricing,data?,,ANS,,-
An,offer,of,$800,000,for,an,item,from,the,only,known,source,of,an,electronic,system,unique,to,Governme
nt,requirements.
How,is,simple,linear,regression,used?,,ANS,,-
To,make,predictions,about,one,dependent,variable,based,on,one,independent,variable,*
Which,of,the,following,is,a,phase,in,the,allocation,cycle?,,ANS,,-Final,Allocation,Phase
You,are,preparing,to,negotiate,a,service,task,for,routine,maintenance,of,Government,equipment.,A,sampl
e,of,25,records,for,similar,maintenance,tasks,indicates,that,the,average,time,required,to,perform,similar,
maintenance,tasks,has,been,six,hours,and,40,minutes.,How,can,you,use,this?,,ANS,,-
Selecting,the,appropriate,contract,type
Developing,a,price,negotiation,objective,for,labor,costs,*
Evaluating,the,bill,of,materials
Assigning,the,risk,factors,for,profit,calculations
The,purpose,of,an,audit,is,to:,,ANS,,-Verify,transaction,legality
Determine,if,the,data,is,accurate,and,complete
, All,of,these,are,correct,*
Determine,the,degree,of,compliance,with,established,procedures
Who,has,the,authority,to,waive,CAS,applicability,for,a,particular,contract?,,ANS,,-The,Agency,Head,*
A,cost,is,allowable,if,it,is:,,ANS,,-Reasonable,,allocable,and,compliant,with,CAS/GAAP,*
What,is,an,important,driver,to,a,successful,negotiation?,,ANS,,-Listen,to,understand,*
Which,regression,method,assumes,a,linear,relationship,between,the,dependent,and,independent,variabl
es?,,ANS,,-Simple,linear,regression,*
What,is,the,single,most,important,decision,the,Contracting,Officer,must,make,to,mitigate,cost,risk?,,ANS,,-
Selection,of,contract,type,*
When,a,contract,is,subject,to,CAS,,the,Contracting,Officer,may,not,award,a,contract,until,a,written,adequ
acy,determination,has,been,made,by,the,cognizant,Federal,agency,official.,,ANS,,-True
Each,Price,Negotiation,Memorandum,must,contain,which,one,of,the,following?,,ANS,,-
Statement,that,the,price,is,fair,and,reasonable,*
Select,the,item,below,that,would,likely,be,categorized,as,a,Direct,Material,Cost.,,ANS,,-
The,purchase,of,104,motor,assemblies,needed,to,manufacture,vehicles,*
Using,a,direct,comparison,with,the,cost,of,a,similar,contract,effort,is,an,acceptable,summary,estimating,te
chnique.,,ANS,,-True,*
Which,of,the,following,would,be,a,proper,method,of,determining,the,reasonableness,of,a,contractor's,pro
posed,labor,hour,estimate?,,ANS,,--Compare,proposed,hours,with,a,Government,should-cost,estimate,*
A,Disclosure,Statement,is,required,when,Contractor,receives,a,CAS,covered,contract,or,a,subcontract,valu
ed,at,$60,million,in,a,cost,accounting,period.,,ANS,,-True,*
