Analyzing Contract Costs CLC 056 Study Guide Latest 2022

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Analyzing Contract Costs CLC 056 Study Guide Latest 2022 1. According to FAR 15.4, which of the following is one of the two most preferred price analysis techniques?: Comparison of proposed prices received in response to the solicitation * 2. How may you request an audit?: All of these are correct 3. A "questioned cost" is one that has not yet been evaluated.: False * 4. True or False: "Direct labor positions" share the same titles and pay levels.: False * 5. For which of the following procurements would you require certified cost or pricing data?: An offer of $800,000 for an item from the only known source of an electronic system unique to Government requirements. 6. How is simple linear regression used?: To make predictions about one de- pendent variable based on one independent variable * 7. Which of the following is a phase in the allocation cycle?: Final Allocation Phase 8. 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 mainte- nance tasks has been six hours and 40 minutes. How can you use this?: - Selecting the appropriate contract type Developing a price negotiation objective for labor costs * Evaluating the bill of materials Assigning the risk factors for profit calculations 9. The purpose of an audit is to:: Verify transaction legality Determine if the data is accurate and complete

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