NEW Analyzing Contract Costs Exam
Latest CLC 056 (7 sets for the final
exams)
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contains 55 Questions
1) Which of the following types of costs might be found both as direct costs and indirect
costs, depending on the circumstance? [Recognize concerns that affect the other direct costs
proposed]
Travel
Direct Material
G&A Overhead
Utilities
2) Which of these statements below is correct regarding the criteria for classifying a special
test equipment cost as an "other direct cost”? [Determine if the other direct costs are properly
proposed]
Engineered, designed, fabricated, or modified to meet specific contract needs and cannot be used for
other contracts
An item (e.g., fixture, pattern, or gauge) that is necessary in aiding the development of a unique product
Engineered, designed, fabricated, or modified to meet not only the requirements of the current contract
but also the requirements of all other contracts
Developed and engineered by a subcontractor who is not currently working on another contract
3) Which of the following is an indirect cost pool? [Identify indirect cost pools and bases]
General and Administrative Expenses
Direct material
Assembly labor
Manufacturing labor
4) What two costs elements are required to calculate an indirect cost rate? [Identify the process
of calculating indirect cost rates]
Expense pool and Allocation base
Overhead rate and Expense base
Allocation Pool and Expense base
1 of 11
, NEW Analyzing Contract Costs Exam
Allocation base and Overhead rate
2 of 11
, NEW Analyzing Contract Costs Exam
5) Which of the following is a phase in the allocation cycle? [Identify the cost allocation cycle]
Final Allocation Phase
Interim Processing Phase
Adjustment on Rates Phase
Continuous Rate Application Phase
6) How is simple linear regression used? [Identify what regression analysis is] [Remediation
Accessed
:N]
To make predictions about one dependent variable based on one independent variable
To make predictions about one dependent variable based on more than one independent variable
To calculate an estimate that demonstrates the most likely average value based on the data
supplied To ensure contractor’s estimates properly capture the reduction of labor costs associated
with
repetitive production tasks
7) Which regression method assumes a linear relationship between the dependent and
independent variables? [Identify the different regression analysis methods]
Simple linear regression
Local regression
Segmented regression
Curvilinear regression
8) Identify the situation where you would use simple linear regression. [Identify contract pricing
situations where simple regression analysis should be considered]
Indirect cost rate analysis
Labor classification
analysis
Facilities Capital Cost of Money
calculation Profit objective calculation
9) After completing the five-step Least-Best-Squares-Fit (LBSF) process in developing a
regression equation, you must evaluate which two aspects of the equation? [Identify the
steps for using simple
regression analysis] [Remediation Accessed :N]
"Goodness" of the fit and statistical significance
Coefficient of determination and the median
Prediction interval and significance level
Standard error of the estimate and the mean
10) Which situation below would you use improvement curve analysis to evaluate proposed costs?
[Identify situations where improvement curve analysis would be appropriate]
Assembly line with high proportion of manual labor
Fully automated assembly line
Production facility specializing in “one-off” or unique item production
3 of 11
, NEW Analyzing Contract Costs Exam
Fabrication plant that generates 100,000 units per month
4 of 11
Latest CLC 056 (7 sets for the final
exams)
Here is your test result.The dots represent the choices you have
made. The highlighted questions are the questions you have
missed.
Remediation Accessed shows whether you accessed those links.'N' represents links not visited and 'Y'
represents visited links.
Back to Status page
contains 55 Questions
1) Which of the following types of costs might be found both as direct costs and indirect
costs, depending on the circumstance? [Recognize concerns that affect the other direct costs
proposed]
Travel
Direct Material
G&A Overhead
Utilities
2) Which of these statements below is correct regarding the criteria for classifying a special
test equipment cost as an "other direct cost”? [Determine if the other direct costs are properly
proposed]
Engineered, designed, fabricated, or modified to meet specific contract needs and cannot be used for
other contracts
An item (e.g., fixture, pattern, or gauge) that is necessary in aiding the development of a unique product
Engineered, designed, fabricated, or modified to meet not only the requirements of the current contract
but also the requirements of all other contracts
Developed and engineered by a subcontractor who is not currently working on another contract
3) Which of the following is an indirect cost pool? [Identify indirect cost pools and bases]
General and Administrative Expenses
Direct material
Assembly labor
Manufacturing labor
4) What two costs elements are required to calculate an indirect cost rate? [Identify the process
of calculating indirect cost rates]
Expense pool and Allocation base
Overhead rate and Expense base
Allocation Pool and Expense base
1 of 11
, NEW Analyzing Contract Costs Exam
Allocation base and Overhead rate
2 of 11
, NEW Analyzing Contract Costs Exam
5) Which of the following is a phase in the allocation cycle? [Identify the cost allocation cycle]
Final Allocation Phase
Interim Processing Phase
Adjustment on Rates Phase
Continuous Rate Application Phase
6) How is simple linear regression used? [Identify what regression analysis is] [Remediation
Accessed
:N]
To make predictions about one dependent variable based on one independent variable
To make predictions about one dependent variable based on more than one independent variable
To calculate an estimate that demonstrates the most likely average value based on the data
supplied To ensure contractor’s estimates properly capture the reduction of labor costs associated
with
repetitive production tasks
7) Which regression method assumes a linear relationship between the dependent and
independent variables? [Identify the different regression analysis methods]
Simple linear regression
Local regression
Segmented regression
Curvilinear regression
8) Identify the situation where you would use simple linear regression. [Identify contract pricing
situations where simple regression analysis should be considered]
Indirect cost rate analysis
Labor classification
analysis
Facilities Capital Cost of Money
calculation Profit objective calculation
9) After completing the five-step Least-Best-Squares-Fit (LBSF) process in developing a
regression equation, you must evaluate which two aspects of the equation? [Identify the
steps for using simple
regression analysis] [Remediation Accessed :N]
"Goodness" of the fit and statistical significance
Coefficient of determination and the median
Prediction interval and significance level
Standard error of the estimate and the mean
10) Which situation below would you use improvement curve analysis to evaluate proposed costs?
[Identify situations where improvement curve analysis would be appropriate]
Assembly line with high proportion of manual labor
Fully automated assembly line
Production facility specializing in “one-off” or unique item production
3 of 11
, NEW Analyzing Contract Costs Exam
Fabrication plant that generates 100,000 units per month
4 of 11
