Question 94: Price or cost objectives for negotiation should always be selected
ID: 2821492 • Letter: Q
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Question 94: Price or cost objectives for negotiation should always be selected based on: vi-5-83 (a) (b) (c) (d) (e) Low price Percent reduction Estimates Dollar amounts All of the above Question 95: A contractor cannot normally be determined non-responsible based: (a) (b) (c) (d) (e) On lack of necessary facilities Solely on lack of relevant performance history On compliance with delivery schedule On financial resources On business ethics Question 122: The requirement for submission of cost or pricing data by the prime contractor extends to: (a) Only the prime contractor's in-house work (b) The first tier subcontractors (c) All tiers of subcontractors (d) The first and second tier subcontractors Question 124: Cost or pricing data must be furnished if the price is based on: (a) Adequate price competition (b) Prices set by lavw (c) An established price of a commercial item (d) None of the above Question 130: Modified CAS coverage requires: A contractor to comply with Cost Accounting Standards 401, 402, 405 and 406 A contractor to comply with Cost Accounting Standards 401 through 408 A contractor to comply with Cost Accounting Standards 401 through 412 None of the above (a) (b) (c) (d) Question 137: The rating method is used to indicate the degree to which the offeror's proposal has met the standard for each factor evaluated. (a) Adjectival (b) Color coding (c) Numerical (d) Narrative (e) All of the aboveExplanation / Answer
94. E. All of the above.
Price or cost objectives for negotiation should always be selected based on low price; percent reduction, estimates, and dollar amounts.
95. A contractor cannot normally be determined non responsible based -
B. Solely on lack of relevant performance history.
A prospective contractor can be determined responsible if it is having adequate financial resources to perform the contract; comply with the deliverables; by considering all business commitments; having a satisfactory performance and business ethics record; having technical skills, knowledge and experience and having eligible qualifications.
122. The requirement for submission of cost or pricing data by the prime contractor extends to
B. the first tier of subcontractors.
In this process, there are the contributions of the prime contractors and higher tier subcontractors by conducting cost or price analysis and finding the results and submitting cost or pricing data.
124. D. None of the above.
These are the exceptions for cost or pricing data - when prices are based on adequate price competition; based on prices set by law; established price of a commercial item.
130. A
Modified CAS coverge requires a contractor to comply with CAS 401, 402, 405 and 406.
401- consistency in estimating accumulating and reporting costs.
402- consistency in allocating costs
405 - accounting for unallowable costs
406- cost accounting period
Modified CAS (cost accounting standards) coverage - if the contract award is less than $50 million.
137. B. Color coding rating method
It is used to indicate the degree to which he offeror's proposal has met the standard for each factor evaluated.
Color coding uses colors to indicate the degree to which the offeror proposal meets the standard for each factor evaluated. In this method, blue color is the highest possible rating and red is the lowest possible rating.
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