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CON 3990 Exam Study Guide| Questions and Answers| A+ Rated| 2025/26 Allowable Cost: Reasonable? Yes Allowable Cost: Realistic? No Allowable Cost: Any limitations set forth in FAR subpart 31.2? Yes Allowable Cost: IAW the terms of the contract? Yes Allowable Cost: IAW Common Law? No Allowable Cost: Allocable? Yes Allowable Cost: IAW Cost Accounting Standards; IAW Generally Accepted Accounting Standards? Yes Allowable Cost: Any Limitations set forth in FAR subpart 15.1? No Modification Type: Exercising an Option Unilateral Modification Type: Administrative Change Unilateral Modification Type: An Agreement definitizing a letter contract Bilateral Modification Type: Modifying terms and conditions
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Allowable Cost: Reasonable? Yes Allowable Cost: Realistic? No Allowable Cost: Any limitations set forth in FAR subpart 31.2? Yes Allowable Cost: IAW the terms of the contract? Yes Allowable Cost: IAW Common Law? No Allowable Cost: Allocable? Yes Allowable Cost: IAW Cost Accounting Standards; IAW Generally Accepted Accounting Standards?
Yes Allowable Cost: Any Limitations set forth in FAR subpart 15.1? No Modification Type: Exercising an Option Unilateral Modification Type: Administrative Change Unilateral Modification Type: An Agreement definitizing a letter contract Bilateral Modification Type: Modifying terms and conditions Bilateral Modification Type: Negotiated equitable adjustment Bilateral Modification Type: Issue a change order Unilateral Contract type: Cost-Plus-Percentage of Cost
No Cost or Pricing Data: Verifiable? Yes Cost or Pricing Data: Facts expected to significantly affect price negotiations? Yes C or P Analysis? Comparison of proposed prices in response to the solicitation Price Analysis C or P Analysis? Verification of cost or pricing data and evaluation of cost elements Cost Analysis C or P Analysis? Comparison of proposed prices to historical prices paid Price Analysis C or P Analysis? Evaluating the effect of the offeror's current practices on future costs Cost Analysis
C or P Analysis? Use of parametric estimating methods/application of rough yardsticks (such as dollar per pound or per horsepower, or other units) Price Analysis C or P Analysis? Comparison of proposed prices with independent Government cost estimates Price Analysis C or P Analysis? Comparison of costs proposed by the offeror for the individual cost elements Cost Analysis C (including Realism) or P Analysis? I shall be used when certified cost or pricing data are NOT required Price Analysis C (including Realism) or P Analysis? I shall be used to evaluate the reasonableness of individual cost elements when certified cost or pricing data ARE required Cost or Cost Realism Analysis
Price Analysis Automatically set-aside all requirements to small businesses False Divide acquisitions of supplies and services into reasonably small lots to permit offers on less than total requirement True Plan acquisitions so that more than one small business may perform the work, if the work exceeds the amount a surety may be guaranteed True Allow more time to perform for small businesses False Realistically establish delivery schedules to encourage small business participation to the extent consistent with the actual requirements True Make the quality levels more stringent for large businesses than for small businesses
False Encourage prime contracts to subcontract with small businesses True IAW FAR 52.246-2, does the Government have the right to inspect a product before it is accepted? Yes, always After issuing a solicitation, who is the focal point for any exchanges with industry? Contracting officer What shall the contracting officer do if he/she believes a proposed amendment, after offers have been received, is so substantial as to exceed what prospective offerors reasonably could have anticipated? Cancel the original solicitation and issue a new one, regardless of the stage of the acquisition. ________ may be used for an amendment when time is of the essence. Oral What form is used to amend a solicitation?
T or F: The FAR describes a preference for commercial items over non- commercial items. True You are a contracting officer overseeing a $275,000 commercial contract. Because the contractor has failed to perform, you decide to terminate the contract. What termination would be used? Termination for Cause A structured approach to determining profit or fee prenegotiation objectives shall be used. For DoD, that structured approach is? The Weighted Guidelines
