CON 3910 Section 3 Exam Questions and Answers Fully Solved Latest Update 2025-2026
When a contracting professional determines that a price is reasonable, what does that mean?
- They made a decision that is both judicious and wise.
- They made a decision based on their ability, knowledge, or skill.
- They made a decision based on what a prudent and competent buyer would be willing to pay. -
Answers - They made a decision based on what a prudent and competent buyer would be willing to pay.
Price analysis is used: (select the 2 correct answers)
- To evaluate the reasonableness of individual cost elements
- When certified cost or pricing data are not required
- To evaluate data other than certified cost or pricing data to determine cost reasonableness or cost
realism
- To verify that the overall price offered is fair and reasonable - Answers - When certified cost or pricing
data are not required
- To verify that the overall price offered is fair and reasonable
Cost analysis is used: (select the 2 correct answers)
- To evaluate the reasonableness of individual cost elements
- When certified cost or pricing data are not required
- To evaluate data other than certified cost or pricing data to determine cost reasonableness or cost
realism
- To verify that the overall price offered is fair and reasonable - Answers - To evaluate the
reasonableness of individual cost elements
- To evaluate data other than certified cost or pricing data to determine cost reasonableness or cost
realism
According to FAR 2.101, cost or pricing data...
- Is factual
- Includes all facts that may or may not affect price negotiations
- Is judgmental
- May not be verifiable - Answers - Is factual
, A price is based on adequate price competition when: (select all that apply)
- In receipt of offers from two or more responsible offerors
- Only one offer was received, but the action was solicited as full and open competition
- Price is found to be unreasonable
- In receipt of offers from two or more offerors competing independently - Answers - In receipt of offers
from two or more responsible offerors
- In receipt of offers from two or more offerors competing independently
When a contractor submits a Certificate of Current Cost or Pricing data, it is certifying that the data is:
(select the 3 choices that apply)
- Based on historical prices paid
- Current
- Complete
- Accurate - Answers - Current
- Complete
- Accurate
Which of the following are exceptions to obtaining certified cost of pricing data? (select all that apply)
- Adequate price competition
- Commercial items
- Prices set by law
- Modifying a noncommercial contract - Answers - Adequate price competition
- Commercial items
- Prices set by law
True or False - Discussions take place after the establishment of the competitive range. - Answers True
True or False - The contracting officer may limit the number of proposals in the competitive range to the
greatest number that will permit an efficient competition among the most highly rated proposals. -
Answers True
When a contracting professional determines that a price is reasonable, what does that mean?
- They made a decision that is both judicious and wise.
- They made a decision based on their ability, knowledge, or skill.
- They made a decision based on what a prudent and competent buyer would be willing to pay. -
Answers - They made a decision based on what a prudent and competent buyer would be willing to pay.
Price analysis is used: (select the 2 correct answers)
- To evaluate the reasonableness of individual cost elements
- When certified cost or pricing data are not required
- To evaluate data other than certified cost or pricing data to determine cost reasonableness or cost
realism
- To verify that the overall price offered is fair and reasonable - Answers - When certified cost or pricing
data are not required
- To verify that the overall price offered is fair and reasonable
Cost analysis is used: (select the 2 correct answers)
- To evaluate the reasonableness of individual cost elements
- When certified cost or pricing data are not required
- To evaluate data other than certified cost or pricing data to determine cost reasonableness or cost
realism
- To verify that the overall price offered is fair and reasonable - Answers - To evaluate the
reasonableness of individual cost elements
- To evaluate data other than certified cost or pricing data to determine cost reasonableness or cost
realism
According to FAR 2.101, cost or pricing data...
- Is factual
- Includes all facts that may or may not affect price negotiations
- Is judgmental
- May not be verifiable - Answers - Is factual
, A price is based on adequate price competition when: (select all that apply)
- In receipt of offers from two or more responsible offerors
- Only one offer was received, but the action was solicited as full and open competition
- Price is found to be unreasonable
- In receipt of offers from two or more offerors competing independently - Answers - In receipt of offers
from two or more responsible offerors
- In receipt of offers from two or more offerors competing independently
When a contractor submits a Certificate of Current Cost or Pricing data, it is certifying that the data is:
(select the 3 choices that apply)
- Based on historical prices paid
- Current
- Complete
- Accurate - Answers - Current
- Complete
- Accurate
Which of the following are exceptions to obtaining certified cost of pricing data? (select all that apply)
- Adequate price competition
- Commercial items
- Prices set by law
- Modifying a noncommercial contract - Answers - Adequate price competition
- Commercial items
- Prices set by law
True or False - Discussions take place after the establishment of the competitive range. - Answers True
True or False - The contracting officer may limit the number of proposals in the competitive range to the
greatest number that will permit an efficient competition among the most highly rated proposals. -
Answers True
