CON 1300V - Price or Cost Analysis Exam Complete Questions And Correct Detailed Answers (Verified Answers) |Already Graded A+||Brand New Version!!

CON 1300V - Price or Cost Analysis Exam Complete Questions And Correct Detailed Answers (Verified Answers) |Already Graded A+||Brand New Version!! An offer to purchase supplies or services under FAR 13 is a: Proposal Quote Purchase order Bid or sealed bid - Answer- Purchase order You have been assigned the purchase of GPS units. You and your customer both agree that this is a commercial product, there is adequate price competition, and there is little if any performance risk. What contract type should you recommend to your internal customer for the purchase of the GPS units? Time and Materials (T&M) Cost-Plus-Fixed-Fee (CPFF) Fixed Price Award Fee (FPAF) Firm Fixed Price (FFP) - Answer- Firm Fixed Price (FFP) You are a contract specialist preparing to analyze six proposals received in response to a requirement for a commercial product. The contract will be a firm-fixed-price contract with a potential value of $2.1M. You are planning to analyze the prices offered by comparing them to each other, historical experience for the same product, catalog pricing, and commercially available pricing. This type of analysis is called: Price Realism Cost Analysis Price Analysis Technical Analysis - Answer- Price Analysis You can use price index numbers to: Estimate project price over the period of contract performance Inflate or deflate prices for direct comparison Both of the above None of the above - Answer- Both of the above Which of the following cannot be used for comparison in price analysis? Independent government cost estimates Other offered prices Rough yardsticks Totally dissimilar items - Answer- Totally dissimilar items Which of the following is not considered a price related factor? Transportation Life cycle costs Government Furnished Property (GFP) Contractor personnel - Answer- Contractor personnel When considering energy efficiency as a price related factor, the solicitation must: Advise prospective offerors how energy efficiency will be considered in making the award decision Not include specific guidance about energy efficiency standards to allow the widest possible range of products to be proposed Require offerors to provide a prototype of their product for government testing Specify the technology to be used in any energy savings device - Answer- Advise prospective offerors how energy efficiency will be considered in making the award decision Your organization procures tires in support of your vehicle fleet. Last year, the price for the particular truck tire was $114. The appropriate index for truck tires was 98 last year. This year, the index for truck tires has fallen to 95. Using these indexes, what would you estimate the price of this truck tire in similar quantities to be this year? $96.50 $99.00 $102.13 $110.51 - Answer- $110.51 The USDA Forest Service (FS) has a requirement for metal beams and miscellaneous building materials commonly used in the Forest Service Visitor Centers. Because the FS has previously purchased these items, there is data available on historical prices paid. When performing the price analysis, which analysis technique is most appropriate when converting historical prices to constant dollars for comparison purposes? Parametric estimates Cost volume-volume analysis Price indexing Comparison with commercial prices - Answer- Price indexing Which of the statements below correctly describes the concept of fair and reasonable? The price must be fair only to the buyer The concept of "reasonable" is a price that a prudent and competent buyer would be willing to pay given available knowledge of market conditions The FAR definitions of fair and reasonable are in FAR 2.101 Knowledge of market - Answer- The concept of "reasonable" is a price that a prudent and competent buyer would be willing to pay given available knowledge of market conditions Which of the following bases for comparison may the contracting officer use in determining if a price is fair and reasonable? Historical prices and contract prices for the same or similar end items Independent government estimates Proposed prices received in response to the solicitation Any or all of the above - Answer- Any or all of the above Which of the following statements about cost analysis are false? Cost analysis is: Performed when certified cost or pricing data are required The review and analysis of all the elements of cost, FCCOM, and profit or fee Performed for requirements below the SAT Used to establish a fair and reasonable cost of each cost element - Answer- Performed for requirements below the SAT The Truthful Cost or Pricing Data (TCPD) Statute may be waived if: The contracting officer includes a statement in the solicitation that the CO waived the requirement for TCPD The head of the contracting activity (HCA) provides the authorization, in exceptional circumstances, for the waiver and supporting rationale in writing Per the TCPD Statute, the requirement can never be waived The TCPC requirement can be waived by the CO for any procurement exceeding $2 million - Answer- The head of the contracting activity (HCA) provides the authorization, in exceptional circumstances, for the waiver and supporting rationale in writing A contract cost that is identified with multiple cost objectives is: A service center cost A direct cost An indirect cost A G&A cost - Answer- An indirect cost