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Analyzing Contract Costs Exam/ Complete Soltution To Score A+

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Exam 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 is true about analyzing summary cost estimates? [Determine the fairness and reasonableness of summary level cost estimates] 2) Identify when cost analysis is required. [Identify the fundamentals of cost analysis] [Remediation Accessed :N] 3) Identify the correct definition of “Cost Realism Analysis”. [Distinguish between cost analysis, price analysis, and cost realism analysis] 4) Which of the following situations would exempt a contract or subcontract from CAS coverage? [Identify the exemptions to Cost Accounting Standards (CAS) coverage] Sole source firm fixed price contract requiring submission of cost or pricing data 5) Which three elements are necessary for calculating a confidence interval? [Identify the process for establishing a confidence interval] [Remediation Accessed :N] 6) Given the following data, calculate the sample median. Sample data: 17, 16, 17, 16, 17, 18, 18 [Calculate a pre-negotiation objective using the appropriate statistical analysis techniques] 7) Which of the following would be a proper method of determining the reasonableness of a contractor’s proposed labor hour estimate? [Relate proposed labor hours to work requirements to determine reasonableness of direct labor costs] 8) What is the most common base for calculating the General and Administrative (G&A) overhead rate? [Identify indirect cost pools and bases] [Remediation Accessed :N] 9) Identify the formula for calculating indirect cost rates. [Identify the process of calculating indirect cost rates] 10) A cost is allowable if it is: [Determine if a cost is allowable] [Remediation Accessed :N] 11) Which contract clause is inserted in contracts that are subject to full CAS coverage? [Determine the level of CAS coverage that applies] 12) A cost is allocable if it: [Determine if a cost is allocable] [Remediation Accessed :N] 13) The cost accounting system that is used by a contractor manufacturing a number of identical units for multiple customers is: [Identify the two commonly used systems for cost accounting] [Remediation Accessed :N] [Show More]

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