TEST – CLC 056 ANALYZING CONTRACT COSTS EXAM (87% = passed)
1. How do you apply the decrement factor if you find that the contractor appears to have
overestimated the proposal prices?
- Multiply the decrement factor by the total cost of all sampled items
2. A Disclosure Statement is required...
test – clc 056 analyzing contract costs exam 87 passed 1 how do you apply the decrement factor if you find that the contractor appears to have overestimated the proposal prices multiply the
1. How do you apply the decrement factor if you find that the contractor appears to have
overestimated the proposal prices?
- Multiply the decrement factor by the total cost of all sampled items
2. 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
3. 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
4. Identify the correct definition of “Cost Analysis”
- The review and evaluation of individual cost elements and proposed profit/fee in an
offeror’s proposal
5. Using a direct comparison with the cost of a similar contract effort is an acceptable summary
estimating technique.
- True
6. Each price negotiation Memorandum must contain which one of the following?
- Statement that the price is fair and reasonable
7. Which of the following labor categories in a contractor’s proposal for Grounds Maintenance
would raise concern?
- Milwright
8. Identify when cost analysis would be required
- When certified cost or pricing data are required - WRONG
9. How may you request an audit?
- All of these are correct
10. Which of the following factors is critical to a successful negotiation?
- Effectively prepare, plan, and communicate
11. What is an important driver to a successful negotiation?
- Listen to understand
12. The statutory authority for requiring certified cost or pricing data relies primarily on Department
of Defense contract policy.
- True
13. 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
- Developing a price negotiation objective for labor costs - WRONG
14. Which of the following is an indirect cost pool?
- General and Administrative Expenses
15. The purpose of an audit is to:
- All of these are correct
16. Which of the following is the preferred method for determining if a proposed cost is reasonable?
- Comparing with other competitive proposals received in response to the solicitation
This study source was downloaded by 100000807711539 from CourseHero.com on 03-16-2022 07:31:18 GMT -05:00
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller abram23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
