Allowable cost reasonable - Study guides, Class notes & Summaries

Cost analysis is the review and evaluation of the separate cost elements and proposed profit/fee of an offeror's certified cost or pricing data or data other than certified cost or pricing data. It is important to evaluate the separate cost elements and proposed profit/fee to determine how the proposed costs represent the cost of the contract, assuming reasonable economy and efficiency. - Answer Contracting Officers are required to purchase supplies and services from responsible sources at f...

Contracting Officer Warrant board questions with complete solutions You are the PCO for a major competitive negotiated source selection. The RFP, which reflects the user's requirements and is based on the user's budget, has a requirement for 220 cargo loaders to be delivered at 55 per year over the next four years. One offeror proposes to deliver all 220 loaders in the first year at a dramatically reduced price. Can you accept the offeror's proposal? What factors should you consider i...

Which of the following statements is NOT true? a. The government encourages the maximum practicable commercial use of inventions made under government contracts. b. The government recognizes rights in data developed at private expense, and limits its demands for delivery of that data. c. The government requires that contractors obtain permission from copyright owners before including copyrighted works, owned by others, in data to be delivered to the government. d. Generally, the governmen...

CFCM Practice Test Questions with 100% Correct Solutions [2024/2025] CFCM Practice Test Questions with 100% Correct Solutions [2024/2025] __ may be used for emergency acquisitions when contract performance must begin immediately - Answer letter contracts ____ is any money, fee, commission, credit, gift, gratuity, thing of value, or compensation of any kind which is provided directly or indirectly, to any prime contractor, prime contractor employee, subcontractor, or s...

CLC 222 Questions and Answers with Verified Solutions Truth in Negotiations Act (TINA) Occurs when the contractor gives false cost and pricing data during negotiations subject. Defective pricing means the contractor certified to false data. Currently, the TINA threshold is $750,000. The possibility of defective pricing must be analyzed and substantiated before the KO takes action. What are Fixed Price Contracts? Fixed price contracts provide for a price that is not subject to any a...

CPPA Module 3 Exam 182 Questions with Verified Answers Prior to nineties, what two regulations dictated property management industry? - CORRECT ANSWER 1. Federal Acquisition Regulation (FAR) part 45 "Government Property" 2. Federal Property Management Regulations (FPMR), for non-federal employees In NPMA, what is meant by "property"? - CORRECT ANSWER Government property What is the goal of the American National Standards Institute (ANSI)? - CORRECT ANSWER To enhance both the glob...

Life & Health Insurance Exam Prep Questions and Answers 100% Pass Basic Medical Expense policies - Correct Answer ️️ -Provide coverage for Hospital, Surgical and Physicians Medical Expense. -Purchased as a individual or group policy. -provide first dollar coverage (no deductibles). -limited benefit periods and low coverage limits. Major Medical Expense Policy - Correct Answer ️️ --A supplement (in addition) to Basic Medical or as a stand-alone policy. -individual or group policy...

According to FAR 15.4, which of the following is one of the two most preferred price analysis techniques? - ANSWER-Comparison of proposed prices received in response to the solicitation * How may you request an audit? - ANSWER-All of these are correct A "questioned cost" is one that has not yet been evaluated. - ANSWER-False * True or False: "Direct labor positions" share the same titles and pay levels. - ANSWER-False * For which of the following procurements would you require ce...

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 o...

CON 3990 Exam Study Guide Exam Questions And Answers 100% Solved Allowable Cost: Reasonable? Yes Allowable Cost: Realistic? No Allowable Cost: Any limitations set forth in FAR subpart 31.2? Yes Allowable Cost: IAW the terms of the contract? Yes Allowable Cost: IAW Common Law? No Allowable Cost: Allocable? Yes Allowable Cost: IAW Cost Accounting Standards; IAW Generally Accepted Accounting Standards? Yes Allowable Cost: Any Limitations set forth in FAR subpart 15.1? No Modifica...