CLC 056 Exam questions and answers_ CLC 056 Analyzing Contract Costs Exam (2022/2023)

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CLC 056 Analyzing Contract Costs Exam 1. Identify the circumstances when cost analysis should be performed by answering the following question: “Unless an exception to certified cost or pricing da... ta applies, you can perform cost analysis on which of the following procurements? a. All of these are correct b. The award of a subcontract at any tier, if the contractor and each higher-tier subcontractor have been required to furnish certified cost or pricing data. c. The modification of any sealed bid or negotiated contract d. The award of any negotiated contract (except for undefinitized actions such as letter contracts. 2. What is the best method for determining an improvement curve slope? a. Using the median percentage from similar products b. Using established slopes from the Cost Estimator’s Reference Manual c. Using actual historical data d. Using averages derived from recent procurements 3. Each Price Negotiation Memorandum must contain which one of the following? a. Statement that the price is fair and reasonable b. Signature of the Contract Specialist c. Signature of the Legal Counsel d. Statement that the FAR was consistently followed. 4. Which sampling technique is used to focus on high-value items? a. Random b. Stratified c. Cluster d. Nonprobability 5. Which of the following type of costs would most likely be categorized as both direct costs and indirect costs, depending on the circumstance? a. G&A Overhead b. Utilities c. Direct Material d. Travel Expense 6. Using a direct comparison with the cost of a similar contract effort is an acceptable summary estimating technique. a. True b. False 7. Identify when cost analysis would be required. a. For all proposals exceeding the micro purchase threshold b. Whenever a price proposal is received c. When certified cost or pricing data are required d. To evaluate profit or fee 8. What two costs elements are required to calculate an indirect cost rate? a. Expense pool and Allocation base b. Overhead rate and Expense base c. Allocation Pool and Expense base d. Allocation base and Overhead rate 9. In reviewing the proposal for the robotic surveillance vehicle you asked for clarification on the travel cost listed as an ODC. Which response would justify travel as an ODC? a. The travel costs are for the project manager and the manufacturing supervisor to deliver the prototype to the Government testing site for final demonstration testing. b. The travel costs are for several senior engineers to attend a conference on the latest development in manufacturing. c. The travel costs are for the corporate vice president to attend the annual robotic association meeting. This study source was downloaded by 100000860583932 from CourseHero.com on 01-23-2023 04:03:09 GMT -06:00 https://www.coursehero.com/file/82052927/CLC-056-Exam-Helpdocx/ CLC 056 Analyzing Contract Costs Exam d. The travel costs are for warehouse personnel to attend OSHA training on how to safely handle hazardous materials. 10. Which of the following is an indirect cost pool? a. Manufacturing labor b. Assembly labor c. General and Administrative Expenses d. Direct material 11. What is Certified Cost or Pricing Data subsequently found to have been inaccurate, incomplete, or noncurrent known as? a. Defective Pricing b. Data other than cost or pricing data c. Exception to certified cost or pricing data d. CICA Violation 12. How is simple linear regression used? a. To make predictions about one dependent variable based on one independent variable b. To make predictions about one dependent variable based on more than one independent variable. c. To calculate an estimate that demonstrates the most likely average value based on the data supplied d. To ensure contractor’s estimates properly capture the reduction of labor costs associated with repetitive production tasks. 13. What is the “base” that used in the calculation of the performance rick, contract type rick, and cost efficiency factor when using the weighted guidelines to determine a profit/fee objective? a. Indirect costs b. Total price c. Direct costs d. Total costs 14. What is an important driver to a successful negotiation? a. Obtain the lowest price for the government b. Ensure your position os heard c. Maintain position of power d. Listen to understand 15. How may you request an audit? a. By mail b. By email c. By telephone call d. All of these are correct 16. Which of the following would be a proper method of determining the reasonableness of a contractor’s proposed labor hour estimate? a. Request that the contractor provide a should-cost-estimate b. Decrement labor hours estimate according to DCAA standard decrement c. Compare proposed hours on all other contracts from the same contractor d. Compare proposed hours with a government should-cost estimate 17. Identify the correct definition of “Cost Realism Analysis” a. The process of examining and evaluating a proposal to ensure all elements of cost are in line with the Independent Government Estimate b. The review and evaluation of individual cost elements, excluding profit, in a proposal. c. The process of independently reviewing and evaluating specific elements of cost, in part to determine whether they reflect a clear understanding of the requirement. d. The review of a proposal to ensure the contractor has properly documented adherence to their approved estimating system guidelines 18. Select the item below that would likely be categorized as a Direct Material Cost a. Extra material or items that are left over from the contract and cannot be used This study source was downloaded by 100000860583932 from CourseHero.com on 01-23-2023 04:03:09 GMT -06:00 https://www.coursehero.com/file/82052927/CLC-056-Exam-Helpdocx/ CLC 056 Analyzing Contract Costs Exam b. The purchase of 104 motor assemblies needed to manufacture vehicles c. Washers and seals used in the assembly process for all of the manufacturer’s products d. Rail transportation used to get the materials to the offeror’s facility 19. When given a set of data that appears to contain outlie [Show More]

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