Question 72:The cost actually incurred and recorded in accomplishing the work wi

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Question 72:The cost actually incurred and recorded in accomplishing the work within a given time period is called the: (a)Cost Variance. (b)Budget at Completion (c)Actual Cost of work performed (d)Budgeted Cost for work performed

Question 73:To trigger a formal schedule or cost performance analysis, the program office establishes: (a)Variance thresholds (b)Scheduled review points (c)End of contract assessments (d)Periodic depending on performence achevement

Question 74:The most important and critical part of earned value is: (a)The accurate determination of the actual cost of the work performed (b)A realistic approach to work package planning and BCWS values for milestones (c)The use of a computerized system collecting data and calculating performance (d) The determination of cost performance compared to the originally developed plans

Question 75: _____ is responsible for evaluating the reasonableness of the offered prices. (a)Contracting officer (b)Price analyst (c)Engineer (d)Contract auditor (e)None of the above

Question 76:Cost estimates are submitted by contractors in connection with: (a)Modification and change proposals (b)Prices of spare parts (c)Rates for time and material contracts (d) estimated and final costs of cost type contracts (e) All of the above

Explanation / Answer

Question 72 option c is correct The cost actually incurred and recorded in accomplishing the work within a given time period is called the: (c)Actual Cost of work performed question 73 To trigger a formal schedule or cost performance analysis, the program office establishes a)Variance thresholds question 74 The most important and critical part of earned value is: (d) The determination of cost performance compared to the originally developed plans question 75 (a)Contracting officer is responsible for evaluating the reasonableness of the offered prices. question 76 Cost estimates are submitted by contractors in connection with (e) All of the above

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