CLC 056 Analyzing Contract Costs Study Guide Questions And Answers 100% Guaranteed Success.
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CLC 056 Analyzing Contract Costs
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CLC 056 Analyzing Contract Costs
CLC 056 Analyzing Contract Costs Study Guide Questions And Answers 100% Guaranteed Success.
According to FAR 15.4, which of the following is one of the two most preferred price analysis techniques? - correct answer. Comparison of proposed prices received in response to the solici...
CLC 056 Analyzing Contract Costs Study
Guide Questions And Answers 100%
Guaranteed Success.
According to FAR 15.4, which of the following is one of the two most preferred price
analysis techniques? - correct answer. Comparison of proposed prices received in
response to the solicitation *
How may you request an audit? - correct answer. All of these are correct
A "questioned cost" is one that has not yet been evaluated. - correct answer. False *
True or False: "Direct labor positions" share the same titles and pay levels. - correct
answer. False *
For which of the following procurements would you require certified cost or pricing data?
- correct answer. 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? - correct answer. To make predictions about
one dependent variable based on one independent variable *
Which of the following is a phase in the allocation cycle? - correct answer. 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? - correct answer. 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: - correct answer. 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? - correct
answer. The Agency Head *
A cost is allowable if it is: - correct answer. Reasonable, allocable and compliant
with CAS/GAAP *
What is an important driver to a successful negotiation? - correct answer. Listen to
understand *
Which regression method assumes a linear relationship between the dependent and
independent variables? - correct answer. Simple linear regression *
What is the single most important decision the Contracting Officer must make to
mitigate cost risk? - correct answer. 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. - correct answer. True
Each Price Negotiation Memorandum must contain which one of the following? -
correct answer. Statement that the price is fair and reasonable *
Select the item below that would likely be categorized as a Direct Material Cost. -
correct answer. 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. - correct answer. True *
Which of the following would be a proper method of determining the reasonableness of
a contractor's proposed labor hour estimate? - correct answer. -Compare proposed
hours with a Government should-cost estimate *
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