CLC 056 Exam questions and answers_ CLC 056 Analyzing Contract Costs

1) Which of the following is true about analyzing summary cost estimates? [Determine the fairness and reasonableness of summary level cost estimates] Using a direct comparison with the cost of a similar contract effort is an acceptable summary estimating technique  As the dollars and percentage of total costs increase, the emphasis on obtaining a detailed estimate decreases  The effects of price inflation are not considered in determining if direct comparisons were properly developed and applied  If a summary level estimate is as good as a detailed analysis, it is still required to use a detailed analysis  2) Identify when cost analysis is required. [Identify the fundamentals of cost analysis] [Remediation Accessed :N] To evaluate the reasonableness of individual cost elements when certified cost or pricing data are required   To evaluate each individual proposal cost element including FCCOM and profit or fee  On all proposals exceeding the Simplified Acquisition Threshold  Whenever a cost proposal is received