CLC 056 Exam questions and answers_ CLC 056 Analyzing Contract Costs Exam (2021)

Analyzing Contract Costs Exam Here is your test result.The dots represent the choices you have made. The highlighted questions are the questions you have missed. Remediation Accessed shows whether you accessed those links.'N' represents links not visited and 'Y' represents visited links. Back to Status page contains 55 Questions 1) Which of the following must be true to properly classify a cost as an “other direct cost”? [Recognize concerns that affect the other direct costs proposed] All of these The proposed cost benefits only the proposed contract work The offeror customarily treats similar costs as “other direct costs” under similar circumstances The contractor’s accounting system segregates “other direct costs” from similar indirect costs 2) Which of these statements below is correct regarding the criteria for classifying a special test equipment cost as an "other direct cost”? [Determine if the other direct costs are properly proposed] Engineered, designed, fabricated, or modified to meet specific contract needs and cannot be used for other contracts An item (e.g., fixture, pattern, or gauge) that is necessary in aiding the development of a unique product Engineered, designed, fabricated, or modified to meet not only the requirements of the current contract but also the requirements of all other contracts Developed and engineered by a subcontractor who is not currently working on another contract 3) Which of the following is an indirect cost pool? [Identify indirect cost pools and bases] General and Administrative Expenses Direct material Assembly labor Manufacturing labor 4) What two costs elements are required to calculate an indirect cost rate? [Identify the process of calculating indirect cost rates] Expense pool and Allocation base