CON 3990 EXAM STUDY GUIDE
QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE BEST
FOR REVISION GRADED A+ .
, 1. Allowable Cost: Reasonable?: Yes
2. Allowable Cost: Realistic?: No
3. Allowable Cost: Any limitations set forth in FAR subpart 31.2? CORRECT ANSWER Yes
4. Allowable Cost CORRECT ANSWER IAW the terms of the contract? CORRECT ANSWER Yes
5. Allowable Cost CORRECT ANSWER IAW Common Law? CORRECT ANSWER No
6. Allowable Cost CORRECT ANSWER Allocable? CORRECT ANSWER Yes
7. Allowable Cost CORRECT ANSWER IAW Cost Accounting Standards; IAW Generally Accepted
Accounting Standards? CORRECT ANSWER Yes
8. Allowable Cost CORRECT ANSWER Any Limitations set forth in FAR subpart 15.1? CORRECT ANSWER
No
9. Modification Type CORRECT ANSWER Exercising an Option CORRECT ANSWER Unilateral
10. Modification Type CORRECT ANSWER Administrative Change CORRECT ANSWER Unilateral
11. Modification Type CORRECT ANSWER An Agreement definitizing a letter contract CORRECT ANSWER
Bilateral
12. Modification Type CORRECT ANSWER Modifying terms and conditions CORRECT ANSWER Bilateral
13. Modification Type CORRECT ANSWER Negotiated equitable adjustment CORRECT ANSWER Bilatera
14. Modification Type CORRECT ANSWER Issue a change order CORRECT ANSWER Unilateral
15. Contract type CORRECT ANSWER Cost-Plus-Percentage of Cost CORRECT ANSWER Shall not be use
16. Contract type CORRECT ANSWER FP-EPA CORRECT ANSWER Commercial Item & Sealed Bidding
17. Contract type CORRECT ANSWER FFP CORRECT ANSWER Commercial Item & Sealed Bidding
18. Contract type CORRECT ANSWER Cost-Plus-Incentive-Fee CORRECT ANSWER Incentive Contracts
19. Contract type CORRECT ANSWER Cost-Plus-Award-Fee CORRECT ANSWER Incentive Contracts
20. Contract type CORRECT ANSWER Fixed Price Incentive Firm CORRECT ANSWER Incentive Contract
21. Cost or Pricing Data CORRECT ANSWER Factual, not judgmental? CORRECT ANSWER Yes
22. Cost or Pricing Data CORRECT ANSWER Opinions? CORRECT ANSWER No
QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE BEST
FOR REVISION GRADED A+ .
, 1. Allowable Cost: Reasonable?: Yes
2. Allowable Cost: Realistic?: No
3. Allowable Cost: Any limitations set forth in FAR subpart 31.2? CORRECT ANSWER Yes
4. Allowable Cost CORRECT ANSWER IAW the terms of the contract? CORRECT ANSWER Yes
5. Allowable Cost CORRECT ANSWER IAW Common Law? CORRECT ANSWER No
6. Allowable Cost CORRECT ANSWER Allocable? CORRECT ANSWER Yes
7. Allowable Cost CORRECT ANSWER IAW Cost Accounting Standards; IAW Generally Accepted
Accounting Standards? CORRECT ANSWER Yes
8. Allowable Cost CORRECT ANSWER Any Limitations set forth in FAR subpart 15.1? CORRECT ANSWER
No
9. Modification Type CORRECT ANSWER Exercising an Option CORRECT ANSWER Unilateral
10. Modification Type CORRECT ANSWER Administrative Change CORRECT ANSWER Unilateral
11. Modification Type CORRECT ANSWER An Agreement definitizing a letter contract CORRECT ANSWER
Bilateral
12. Modification Type CORRECT ANSWER Modifying terms and conditions CORRECT ANSWER Bilateral
13. Modification Type CORRECT ANSWER Negotiated equitable adjustment CORRECT ANSWER Bilatera
14. Modification Type CORRECT ANSWER Issue a change order CORRECT ANSWER Unilateral
15. Contract type CORRECT ANSWER Cost-Plus-Percentage of Cost CORRECT ANSWER Shall not be use
16. Contract type CORRECT ANSWER FP-EPA CORRECT ANSWER Commercial Item & Sealed Bidding
17. Contract type CORRECT ANSWER FFP CORRECT ANSWER Commercial Item & Sealed Bidding
18. Contract type CORRECT ANSWER Cost-Plus-Incentive-Fee CORRECT ANSWER Incentive Contracts
19. Contract type CORRECT ANSWER Cost-Plus-Award-Fee CORRECT ANSWER Incentive Contracts
20. Contract type CORRECT ANSWER Fixed Price Incentive Firm CORRECT ANSWER Incentive Contract
21. Cost or Pricing Data CORRECT ANSWER Factual, not judgmental? CORRECT ANSWER Yes
22. Cost or Pricing Data CORRECT ANSWER Opinions? CORRECT ANSWER No
