CLC 056 Analyzing Contract Costs Study Guide 80QUESTIONS
AND ANSWERS LATEST UPDATE 2023/2024 GRADED A+
According to FAR 15.4, which of the following is one of the two most preferred
price analysis techniques? - CORRECT ANSWERS Comparison of proposed prices
received in response to the solicitation *
How may you request an audit? - CORRECT ANSWERS All of these are correct
A "questioned cost" is one that has not yet been evaluated. - CORRECT ANSWERS
False *
True or False: "Direct labor positions" share the same titles and pay levels. -
CORRECT ANSWERS False *
For which of the following procurements would you require certified cost or
pricing data? - CORRECT ANSWERS An offer of $800,000 for an item from the
only known source of an electronic system unique to Government requirements.
How is simple linear regression used? - CORRECT ANSWERS To make predictions
about one dependent variable based on one independent variable *
Which of the following is a phase in the allocation cycle? - CORRECT ANSWERS
Final Allocation Phase
You are preparing to negotiate a service task for routine maintenance of
Government equipment. A sample of 25 records for similar maintenance tasks
indicates that the average time required to perform similar maintenance tasks has
been six hours and 40 minutes. How can you use this? - CORRECT ANSWERS
Selecting the appropriate contract type
, CLC 056 Analyzing Contract Costs Study Guide 80QUESTIONS
AND ANSWERS LATEST UPDATE 2023/2024 GRADED A+
Developing a price negotiation objective for labor costs *
Evaluating the bill of materials
Assigning the risk factors for profit calculations
The purpose of an audit is to: - CORRECT ANSWERS Verify transaction legality
Determine if the data is accurate and complete
All of these are correct *
Determine the degree of compliance with established procedures
Who has the authority to waive CAS applicability for a particular contract? -
CORRECT ANSWERS The Agency Head *
A cost is allowable if it is: - CORRECT ANSWERS Reasonable, allocable and
compliant with CAS/GAAP *
What is an important driver to a successful negotiation? - CORRECT ANSWERS
Listen to understand *
Which regression method assumes a linear relationship between the dependent
and independent variables? - CORRECT ANSWERS Simple linear regression *
What is the single most important decision the Contracting Officer must make to
mitigate cost risk? - CORRECT ANSWERS Selection of contract type *
AND ANSWERS LATEST UPDATE 2023/2024 GRADED A+
According to FAR 15.4, which of the following is one of the two most preferred
price analysis techniques? - CORRECT ANSWERS Comparison of proposed prices
received in response to the solicitation *
How may you request an audit? - CORRECT ANSWERS All of these are correct
A "questioned cost" is one that has not yet been evaluated. - CORRECT ANSWERS
False *
True or False: "Direct labor positions" share the same titles and pay levels. -
CORRECT ANSWERS False *
For which of the following procurements would you require certified cost or
pricing data? - CORRECT ANSWERS An offer of $800,000 for an item from the
only known source of an electronic system unique to Government requirements.
How is simple linear regression used? - CORRECT ANSWERS To make predictions
about one dependent variable based on one independent variable *
Which of the following is a phase in the allocation cycle? - CORRECT ANSWERS
Final Allocation Phase
You are preparing to negotiate a service task for routine maintenance of
Government equipment. A sample of 25 records for similar maintenance tasks
indicates that the average time required to perform similar maintenance tasks has
been six hours and 40 minutes. How can you use this? - CORRECT ANSWERS
Selecting the appropriate contract type
, CLC 056 Analyzing Contract Costs Study Guide 80QUESTIONS
AND ANSWERS LATEST UPDATE 2023/2024 GRADED A+
Developing a price negotiation objective for labor costs *
Evaluating the bill of materials
Assigning the risk factors for profit calculations
The purpose of an audit is to: - CORRECT ANSWERS Verify transaction legality
Determine if the data is accurate and complete
All of these are correct *
Determine the degree of compliance with established procedures
Who has the authority to waive CAS applicability for a particular contract? -
CORRECT ANSWERS The Agency Head *
A cost is allowable if it is: - CORRECT ANSWERS Reasonable, allocable and
compliant with CAS/GAAP *
What is an important driver to a successful negotiation? - CORRECT ANSWERS
Listen to understand *
Which regression method assumes a linear relationship between the dependent
and independent variables? - CORRECT ANSWERS Simple linear regression *
What is the single most important decision the Contracting Officer must make to
mitigate cost risk? - CORRECT ANSWERS Selection of contract type *
