BCF130 Fundamentals of Cost Analysis Module 3-5 Exam (Step 2) 1) What combination of data is most useful and preferred? [Discuss the data types and data sources used in creating DoD cost estimates... .] [Remediation Accessed :N] Primary and objective Primary and subjective Secondary and objective Secondary and subjective 2) Which of the following should be addressed as part of the of a data collection plan (select two)? [Describe a data collection plan that documents the quality of needed data.] Data source Point of Contact (POC) Start/End dates for obtaining the data relative to the overall cost estimate formation/review schedule The proper WBS structure to use. The total cost estimate of the project 3) Expenses like depreciation, rent, plant maintenance, and utilities and similar costs apply to more than one contract (or cost objective) are examples of ___________________. [Compare and explain the differences between direct and indirect costs.] Indirect cost. Direct cost. Other direct cost. Cost of money. 4) ____________________________ define the requirements for the equipment being estimated, based on physical and performance attributes, such as length, width, weight, horsepower, and size. [Classify data into one of the three main types (cost, technical and programmatic).] BCF130 Fundamentals of Cost Analysis Module 3-5 Exam (Step 2) Technical performance measures Schedule or program data Cost data None of the above 5) There are many Cost and Software Data Reporting (CSDR) formats. Which of the following is one of those formats? [Recognize data collection sources from government databases (e.g., CADE, EVM-CR, VAMOSC).] Software Resource Data Reports (SRDRs) Contract Work breakdown Structure Dictionary (CWBS) Learning Curve Report (LCR) Cost Performance Report (CPR) 6) When normalizing data for unit sizing, the sizing metric must be defined so that the data can be converted to a common standard before being used in later steps in the estimation process. [Describe different methods to normalize data (e.g., grouping into homogeneous data groups, inflation, and quantity adjustments).] False True 7) ____________ represent the relative change in general price level from one year to another. [Define inflation terminology including Constant Year (CY), Then Year (TY), Raw Inflation Indices and Weighted Inflation Indices.] Raw indices A weighted index A constant year index A then year index BCF130 Fundamentals of Cost Analysis Module 3-5 Exam (Step 2) 8) You observe that the flight hour cost in Account 3400 - Operations & Maintenance is $100 in FY 2014. What is the proper value if expressed in CY 2018 dollars (pick the closest answer)? [Calculate a Constant Year (CY) to Constant Year (CY) conversion using the correct indices and operations.] [Remediation Accessed :N] $106.0 K $94.3 K $100.2 K $103.6 K 9) With respect to Price Escalation, which of the following is not considered a commodityspecific price adjustment? [Identify the difference between inflation and price escalation.] [Remediation Accessed :N] Inflation Changes in Supply/Demand Industry Factors None of these are correct 10) __________________________ provides comprehensive economic, financial, and political coverage of countries, regions, and industries - covering over 200 countries and spanning more than approximately 170 industries. [Recognize the sources of inflation and price escalation indices (e.g. OSD Comptroller, Bureau of labor Statistics, IHS Global Insight)] IHS Global Insight Bureau of Labor Statistics Office of Management and Budget OSD Comptroller BCF130 Fundamentals of Cost Analysis Module 3-5 Exam (Step 2) 11) You have collected the following cost data on 5 personnel shelters: $7450; $6700; $7000; $7005; and $5425. Based on this information, you could say: [Define and calculate the measures of central tendency (i.e. the mean, median, and mode).] The mean cost for a shelter is $6716. The mean cost for a shelter is $7000. The median cost for a shelter is $6716. The mode cost for a shelter is $7000. 12) You want to make a statement about the variability in the costs of personnel shelters. After collecting sample data (cost in $K) on 8 shelters you perform some preliminary calculations. Given the information provided: [Image Description: Xbar = $48.25K, Summation of (Xi - Xbar)2 =575.50] [Define and calculate the measures of dispersion (i.e. the range, variance, standard deviation, and coefficient of variation).] The coefficient of variation is about 18.79% The variance is about $71.94 K The standard deviation is about $82.21 K The coefficient of variation is about 0.1879 % 13) Outliers are observations that fall more than how many standard deviations from the mean. [Recognize outliers in a data set and determine origin and disposition of the outliers.] Two One Three BCF130 Fundamentals of Cost Analysis Module 3-5 Exam (Step 2) Four 1) What are examples of a Secondary data source (select two)? [Discuss the data types and data sources used in creating DoD cost estimates.] Basic Accounting Records Research papers Data Collection input forms Cost studies 2) You observe that the flight hour cost in Account 3600 - Research, Development, and Testing, Evaluation is $100 in FY 2013. What is the proper value if expressed in CY 2018 dollars (pick the closest answer)? [Calculate a Constant Year (CY) to Constant Year (CY) conversion using the correct indices and operations.] $107.6 K $93.0 K $100.3 K $103.6 K 3) The OSD CAPE guide on Inflation and Escalation Best Practices for Cost Analysis includes which of the following? [Identify the difference between inflation and price escalation.] All of these are BCF130 Fundamentals of Cost Analysis Module 3-5 Exam (Step 2) correct. Standard terminology to distinguish between inflation and escalation. Minimum standards for documenting and labeling indices used in an analysis. Use of realistic escalation rates to estimate investment and sustainment costs. [Show More]
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