CLC 056 EXAM FINAL PAPER 2026
QUESTIONS WITH COMPLETE SOLUTIONS
GRADED A+
◉ The first step when conducting stratified sampling is to identify
the population of items to be sampled. Answer: - True
◉ True or False: The national average mortgage rate is used in
calculating Facilities Capital Cost of Money (FCCOM) Answer: - False
◉ Using a direct comparison with the cost of a similar contract effort
is an acceptable summary estimating technique. Answer: - True
◉ Which of the following situations would exempt a contract or
subcontract from CAS coverage? Answer: - The contract or
subcontract is with a small business.
◉ True or False: Special test equipment that is engineered, designed,
fabricated, or modified to meet specific contract needs and cannot
be used for other contracts can be categorized as "other direct
costs". Answer: - True
, ◉ A "questioned cost" is one that has not yet been evaluated.
Answer: - False
◉ Which of the following situations are considered exempt from the
submission of Certified Cost or Pricing Data? Answer: - Prices are set
by law or regulation.
◉ What is the "base" that used in the calculation of the performance
risk, contract type risk, and cost efficiency factor when using the
weighted guidelines to determine a profit/fee objective? Answer: -
Total Costs
◉ A Disclosure Statement is required when Contractor receives a
CAS covered contract, or a subcontract valued at $60 million in a
cost accounting period. Answer: - True
◉ Which variable is also considered the independent variable?
Answer: - X
◉ The mean, median and mode are typically the same when a
sample exhibits significant dispersion. Answer: - False
◉ How may you request an audit? Answer: - By e-mail, By telephone
call, By mail
QUESTIONS WITH COMPLETE SOLUTIONS
GRADED A+
◉ The first step when conducting stratified sampling is to identify
the population of items to be sampled. Answer: - True
◉ True or False: The national average mortgage rate is used in
calculating Facilities Capital Cost of Money (FCCOM) Answer: - False
◉ Using a direct comparison with the cost of a similar contract effort
is an acceptable summary estimating technique. Answer: - True
◉ Which of the following situations would exempt a contract or
subcontract from CAS coverage? Answer: - The contract or
subcontract is with a small business.
◉ True or False: Special test equipment that is engineered, designed,
fabricated, or modified to meet specific contract needs and cannot
be used for other contracts can be categorized as "other direct
costs". Answer: - True
, ◉ A "questioned cost" is one that has not yet been evaluated.
Answer: - False
◉ Which of the following situations are considered exempt from the
submission of Certified Cost or Pricing Data? Answer: - Prices are set
by law or regulation.
◉ What is the "base" that used in the calculation of the performance
risk, contract type risk, and cost efficiency factor when using the
weighted guidelines to determine a profit/fee objective? Answer: -
Total Costs
◉ A Disclosure Statement is required when Contractor receives a
CAS covered contract, or a subcontract valued at $60 million in a
cost accounting period. Answer: - True
◉ Which variable is also considered the independent variable?
Answer: - X
◉ The mean, median and mode are typically the same when a
sample exhibits significant dispersion. Answer: - False
◉ How may you request an audit? Answer: - By e-mail, By telephone
call, By mail
