Identify the following statements as either[TRUE]or[FALSE]by highlighting your selection.

1.Any one of the seven techniques for cost analysis may be used to fulfill the requirement for cost analysis.

[TRUE]

[FALSE]

2.Commercial items are exempt from the requirements for cost or pricing data and CAS.

[TRUE]

[FALSE]

3.Price = Cost + Profit.

[TRUE]

[FALSE]

4.The Contract Type does not have any bearing on a profit factor.

[TRUE]

[FALSE]

5.Price analysis is the process of examining and evaluating a proposed price without evaluating its separate cost elements and proposed profit.

[TRUE]

[FALSE]

6.Cost analysis must be performed whenever cost or pricing data are required.

[TRUE]

[FALSE]

7.In performance of Price Analysis, a buyer may request information concerning cost buildup from prospective offer or.

[TRUE]

[FALSE]

8.The burden of proof for reasonableness of cost is always on the buyer.

[TRUE]

[FALSE]

9.Certified Cost or Pricing Data does not apply to government contracts when cost analysis is performed.

[TRUE]

[FALSE]

10.FAR Cost Principles apply to contracts whenever required by a contract clause.

[TRUE]

[FALSE]

11.The modification of any sealed bid or negotiated contract (whether or not certified cost or pricing data were initially required), or any subcontract must consider only the price increase to the contract.

[TRUE]

[FALSE]

12.Prices set by law or regulations are not exempt from CAS & Cost or Pricing data.

[TRUE]

[FALSE]

13.Any one of the seven techniques for price reasonableness may be used to fulfill the requirement for price analysis.

[TRUE]

[FALSE]

14.Comparison of proposed prices received in response to the solicitation is a “preferred” form of price analysis.

[TRUE]

[FALSE]

15.The comparison method is the most accurate estimating method.

[TRUE]

[FALSE]

16.The “detailed” method should only be used on large dollar bids.

[TRUE]

[FALSE]

17.Small businesses are exempt from Cost or Pricing data requirements.

[TRUE]

[FALSE]

18.Cost Principles requires that the FCCOM calculation be rounded to three decimal places.

[TRUE]

[FALSE]

19.Cost or Pricing data is only required to be submitted by Prime Contractors.

[TRUE]

[FALSE]

20.FAR requires that you include any facilities cost of capital included in cost objectives before applying profit or fee factors.

[TRUE]

[False]