1. Which of the following situations are considered exempt from the submission of Certified Cost or Pricing Data?
• Prices are set by law or regulation
• Sole source acquisition of $3.5M FFP effort; price determined using cost analysis
• Price may be determined fair and reasonable based on...
CLC 056 Analyzing Contract Costs Exam 100%
1. Which of the following situations are considered exempt from the submission of
Certified Cost or Pricing Data?
• Prices are set by law or regulation
• Sole source acquisition of $3.5M FFP effort; price determined using cost
analysis
• Price may be determined fair and reasonable based on price analysis
proposal techniques
• Non-commercial modification of a commercial item. Modification funded
by DoD and constitutes 5% of value of modification
2. When given a set of data that appears to contain outliers, which measure of
central tendency is most appropriate to use?
• Median
• Coefficient of Determination
• Mean
• Mode
3. What is an important driver to a successful negotiation?
• Listen to understand
• Ensure your position is heard
• Maintain position of power
• Obtain the lowest price for the government
4. 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
• Compare proposed hours with all other contracts from the same contractor
• Decrement labor hours estimate according to DCAA standard decrement
• Use a stratified sampling techniques to evaluate contractor’s labor hour
estimate
5. Which of the following situations would exempt a contract or
subcontract from CAS coverage?
• The contract or subcontract is with a small business
• Value of the contract or subcontract is $7.5M or less
• The Economic Price Adjustment clause for a commercial item is based
on an index formulated with a contractor’s historical cost data
• Sole source firm fixed price contract requiring submission of cost or pricing
data
6. True or False: “Direct labor positions” share the same titles and pay levels.
• True
• False
7. Which situation below would you use improvement curve analysis to
evaluating proposed costs?
• Assembly line with high proportion of manual labor
• Fabrication plant that generates 100,000 units per month
• Production facility specializing in “one-off” or unique item production
• Fully automated assembly line
8. Using a direct comparison with the cost of a similar contract effort is an acceptable
, summary
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
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 FLOYYD. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
