CLC 056 Analyzing Contract
Costs Exam (98% grade) 54/55
answered correct. Identify strategies to mitigate cost risk
Which of the following is the best strategy to mitigate cost risk?
Conduct adequate market research prior to entering negotiations
Differentiate between the measures of centr...
Identify strategies to mitigate cost risk
Which of the following is the best strategy to mitigate cost risk?
Conduct adequate market research prior to entering negotiations
Differentiate between the measures of central tendency and the methods for
measuring dispersion
When given a set of data that appears to contain outliers, which measure of central
tendency is most appropriate to use?
Median
Determine if an exception to the Truth-in-Negotiations Act applies
Which of the following situations are considered exempt from the submission of certified
cost or pricing data?
Prices are set by law or regulation
Identify key terms involved during a contract negotiation
What is the negotiation term that reflects each party emphasizing the long term effects
and benefits as well as both parties defining their interests to be achieved in conjunction
with the outcome?
Win-Win
Identify factors that contribute to success in any negotiation
Which of the following factors is critical to a successful negotiation?
Effectively prepare, plan, and communicate
Calculate an objective using improvement curve analysis
Given the improvement curve data, calculate the cost objective for unit #64. Labor
hours for unit #32; 42,000 hours Labor ours for unit #1: 79,000 hours Rate of
improvement: 20% improvement curve slope: 80% (question 6)
33,600
Identify cost analysis terms and techniques used when developing a pre-
negotiation position
According to FAR 15.4, which of the following is one of the two most preferred price
analysis techniques?
Comparison of proposed prices received in response to the solicitation
Identify situations when an audit should be requested
The purpose of an audit is to?
All of these are correct
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