CLC 056 Analyzing Contract Costs Study
Guide 2025 COMPREHENSIVE QUESTIONS
AND 100% CORRECT ANSWER GRADED
A+/ GUARANTEED SUCCESS SURE PASS
According to FAR 15.4, which of the following is one of the two most preferred price analysis
techniques?
Comparison of proposed prices received in response to the solicitation *
How may you request an audit?
All of these are correct
A "questioned cost" is one that has not yet been evaluated.
False *
True or False: "Direct labor positions" share the same titles and pay levels.
False *
For which of the following procurements would you require certified cost or pricing data?
An offer of $800,000 for an item from the only known source of an electronic system unique to
Government requirements.
,How is simple linear regression used?
To make predictions about one dependent variable based on one independent variable *
Which of the following is a phase in the allocation cycle?
Final Allocation Phase
You are preparing to negotiate a service task for routine maintenance of Government equipment. A
sample 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?
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:
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?
The Agency Head *
A cost is allowable if it is:
Reasonable, allocable and compliant with CAS/GAAP *
What is an important driver to a successful negotiation?
Listen to understand *
Which regression method assumes a linear relationship between the dependent and independent
variables?
Simple linear regression *
What is the single most important decision the Contracting Officer must make to mitigate cost risk?
Selection of contract type *
When a contract is subject to CAS, the Contracting Officer may not award a contract until a written
adequacy determination has been made by the cognizant Federal agency official.
True
, Each Price Negotiation Memorandum must contain which one of the following?
Statement that the price is fair and reasonable *
Select the item below that would likely be categorized as a Direct Material Cost.
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
technique.
True *
Which of the following would be a proper method of determining the reasonableness of a contractor's
proposed labor hour estimate?
-Compare proposed hours with a Government should-cost estimate *
A Disclosure Statement is required when Contractor receives a CAS covered contract or a subcontract
valued at $60 million in a cost accounting period.
True *
Identify the ultimate objective of performing proposal analysis.
To ensure the final agreed to price is fair and reasonable *
Guide 2025 COMPREHENSIVE QUESTIONS
AND 100% CORRECT ANSWER GRADED
A+/ GUARANTEED SUCCESS SURE PASS
According to FAR 15.4, which of the following is one of the two most preferred price analysis
techniques?
Comparison of proposed prices received in response to the solicitation *
How may you request an audit?
All of these are correct
A "questioned cost" is one that has not yet been evaluated.
False *
True or False: "Direct labor positions" share the same titles and pay levels.
False *
For which of the following procurements would you require certified cost or pricing data?
An offer of $800,000 for an item from the only known source of an electronic system unique to
Government requirements.
,How is simple linear regression used?
To make predictions about one dependent variable based on one independent variable *
Which of the following is a phase in the allocation cycle?
Final Allocation Phase
You are preparing to negotiate a service task for routine maintenance of Government equipment. A
sample 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?
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:
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?
The Agency Head *
A cost is allowable if it is:
Reasonable, allocable and compliant with CAS/GAAP *
What is an important driver to a successful negotiation?
Listen to understand *
Which regression method assumes a linear relationship between the dependent and independent
variables?
Simple linear regression *
What is the single most important decision the Contracting Officer must make to mitigate cost risk?
Selection of contract type *
When a contract is subject to CAS, the Contracting Officer may not award a contract until a written
adequacy determination has been made by the cognizant Federal agency official.
True
, Each Price Negotiation Memorandum must contain which one of the following?
Statement that the price is fair and reasonable *
Select the item below that would likely be categorized as a Direct Material Cost.
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
technique.
True *
Which of the following would be a proper method of determining the reasonableness of a contractor's
proposed labor hour estimate?
-Compare proposed hours with a Government should-cost estimate *
A Disclosure Statement is required when Contractor receives a CAS covered contract or a subcontract
valued at $60 million in a cost accounting period.
True *
Identify the ultimate objective of performing proposal analysis.
To ensure the final agreed to price is fair and reasonable *
