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CDFM Module 3 > CUNNINGHAM'S 2002 COMPLETE CERTIFICATION TEST BANK 2 > Flashcards

CUNNINGHAM'S 2002 COMPLETE CERTIFICATION TEST BANK 2 Flashcards

1
Q

The Economic Order Quantity is calculated by dividing the _________

A.  Sell price/( Fixed Expenses-unit costs)
B. Unit Costs/( Fixed Expenses-sell price)
C. Sell price/(Unit costs-Fixed Expenses)
D. Fixed Expenses/( sell price-unit costs)
A

CORRECT ANSWER: D

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2
Q

___ is a bottom up cost analysis that is the most detailed of all of the techniques and the
most costly.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: C

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3
Q

___ uses extrapolation from costs that were contracted for or incurred on that system
during an earlier period.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: D

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4
Q

Querying the expert opinion from a group, summarizing results and sending it to the experts and continuing this until there is a consensus are traits of the__________

A. Alpha Technique
B. Beta Technique
C. Delta Technique
D. Delphi Technique
A

CORRECT ANSWER: D

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5
Q

The OSD Cost Analysis Improvement Group is an organization outside the service
acquisition community chain. The CAIG prepares a separate and distinct cost estimate on
ACAT I programs know as the _______.

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: C

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6
Q

DoD 5000.2 requires that the program office prepare a life cycle cost estimate for all ACT 1
and ACAT 1A programs, which should cover all costs from initiation through disposal this is
called the _____________.

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: A

How well did you know this?
1
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7
Q

Each service agency has a cost analysis agency that prepares a separate and distinct estimate on programs. This is called the _________ . DoD 5000.2

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: B

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1
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8
Q

The ____to cost for estimating is based on historical information of similar existing
systems or components.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: B

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1
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9
Q

The DoDs primary means of collecting data on the cost that DoD contractors incur in
performing DoD programs are called____________ DoD 5000.2

A.  Commercial Summary Expense Reports
B. Contractor Summary Expense Report 
C. Contractor Cost Data Report
D. Commericial Aggregate Expense Report
A

CORRECT ANSWER: C

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10
Q

The ______is used when it is desirable to cover costs quickly and it is desirable to generate economic or political benefits quickly.

A.  Cost recovery analysis
B.  Analogy approach
C.  Standard deviation
D.  Break even- analysis
A

CORRECT ANSWER: D

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11
Q

________ seeks to determine the true cost of an object.

A.  Activity based Costing
B.  Financial Accounting
C.  Statistics
D.  Economic Order Quantity
A

CORRECT ANSWER: A

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12
Q

True or false? Explaining specific assumptions and the rationale underlying each
assumption, and identifying sensitivity, risk and uncertainty to expose the unknowns are not components of effective economic analysis.

A.  True		B.  False
A

CORRECT ANSWER: B

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13
Q

In preparation for a milestone review, the program office prepares the ______for ACT 1 and ACT 1A programs. DoD 5000.2

A. Cost Analysis Reengineering Description (CARD)
B. Complete Analysis Requirements Description (CARD)
C. Cost Analysis Requirements Description (CARD)
D.  Customer  Analysis Requirements Description
A

CORRECT ANSWER: C

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14
Q

____is a line graph that is formed by connecting the frequencies of the values.

A.  Frequency polygon
B. Histogram
C. Normal curve
D. Skewed curve
A

CORRECT ANSWER: A

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15
Q

_________ enables users to draw inferences or correlations from small group called samples
or larger groups called population.

A.  Economic analysis
B.  Inferential statistics
C. Descriptive statistics
D. Inferential economics
A

CORRECT ANSWER: B

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16
Q

The three most common types of descriptive statistics are measure of central tendency,
measure of dispersion and ______.

A. frequency distribution.
B. the mean
C. the mode
D. none of the above
A

CORRECT ANSWER: A

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17
Q

The ____is the arithmetic average of a distribution of scores.This is useful for spotting trends.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: C

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18
Q

The ____divides a data in half and selects that number in the “middle” of the sample.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: A

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19
Q

The________ is the number that appears most frequently in the data.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: B

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20
Q

The simplest measure of dispersion is ____which measures the highest value minus the lowest value + 1.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: D

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1
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21
Q

In ____cost estimating, the cost is based on a physical attribute of a performance
characteristic and their relationship to highly aggregated costs.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost Approach
A

CORRECT ANSWER: A

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22
Q

The _____is a type of bar graph in which frequencies are represented by the lengths of the bar.

A.  Frequency polygon
B. Histogram
C. Normal curve
D. Skewed curve
A

CORRECT ANSWER: B

How well did you know this?
1
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23
Q

The type of distribution in which data is evenly distributed forming a “bell shaped polygon is
called a_____________

A. Skewed curve
B. Histogram
C. Normal curve
D. Proportion
A

CORRECT ANSWER: C

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24
Q

If the curve shows a majority of values on the RIGHT side of the mean this indicates a _____

A. negatively skewed curve
B. Histogram
C. Normal curve
D. positively skewed
A

CORRECT ANSWER: A

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25
Q

The number of items in a category divided by the number of items in all categories is the ___.

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: C

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26
Q

The number of items in a category X 100 divided by the number of items in all categories
is the ________.

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: B

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27
Q

The number of items in a category on one date minus the number of items in the category
on the second date X 100 divided by the number of items on the second date is_________

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: A

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28
Q

The degree of relationship between two or more variables is called__________

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: D

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29
Q

The payback period is the number of years it will take to recover__________ of a project.

A.  Initial investment
B.  Initial investment and 2 years revenue
C.  2 years of revenue only
D.  None of the above
A

CORRECT ANSWER: A

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30
Q

The _____ and ______ are measures that tell you whether the majority of values fall close
or far from the mean.

A. PAUC and variance
B. Standard deviation and EOQ
C. Standard deviation and variance
D. Learning Curve and Standard Deviation
A

CORRECT ANSWER: C

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31
Q

The Mean of the following number set is approximately________. 2,2,2,3,4,5,5

A.  3.5
B. 3.3
C. 5.1
D. 2.23
A

CORRECT ANSWER: B

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32
Q

A formula that takes the mean of a set, subtracts the individual amounts in the set from the
mean, squares the sums of those amounts and divides by the number of items in the set is
called_____.

A.  Range
B.  Sample size
C. Standard Deviation
D. Variance
A

CORRECT ANSWER: D

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33
Q

Which of these is not a component of an effective economic analysis?

A. Results and recommendations that are fully addressed
B. Clear Identification of mission related objectives
C. Identification of feasible alternatives, excluding the status quo
D. Anticipated direct  or indirect costs associated with it over the life of the project.
A

CORRECT ANSWER: C

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34
Q

________enables you to describe precisely a collection of quantitative information in a way
that is easy to understand and interpret. They are the methods used to characterize and
summarize sets of numeric data.

A.  Economic analysis
B.  Inferential statistics
C. Descriptive statistics
D. Cost estimate
A

CORRECT ANSWER: C

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35
Q

A formula that takes the square root of the sum of the squares from the mean is called.

A.  Range
B.  Sample size
C. Standard Deviation
D. Variance
A

CORRECT ANSWER: C

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36
Q

____ of the population lies within plus or minus 1 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: B

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37
Q

_____ of the population lies within plus or minus 2 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: C

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38
Q

_____ of the population lies within plus or minus 3 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: D

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39
Q

The calculation used to determine the optimal amount that should ordered in an organization is called the_________ .

A.  Standard Deviation
B.  Variance
C.  Economic Order Quantity
D. Ordering and carrying costs
A

CORRECT ANSWER: C

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40
Q

A(n) _____is a systematic approach to choosing the best method for allocating scarce resources.

A. process improvement 
B. A-76 study
C. Fiscal Review
D. Economic analysis
A

CORRECT ANSWER: D

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41
Q

___ is a bottom up cost analysis that is the most detailed of all of the techniques and the
most costly.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: C

How well did you know this?
1
Not at all
2
3
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42
Q

___ uses extrapolation from costs that were contracted for or incurred on that system
during an earlier period.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: D

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
43
Q

Querying the expert opinion from a group, summarizing results and sending it to the experts and continuing this until there is a consensus are traits of the__________

A. Alpha Technique
B. Beta Technique
C. Delta Technique
D. Delphi Technique
A

CORRECT ANSWER: D

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
44
Q

The OSD Cost Analysis Improvement Group is an organization outside the service
acquisition community chain. The CAIG prepares a separate and distinct cost estimate on
ACAT I programs know as the _______.

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: C

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
45
Q

DoD 5000.2 requires that the program office prepare a life cycle cost estimate for all ACT 1
and ACAT 1A programs, which should cover all costs from initiation through disposal this is
called the _____________.

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: A

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
46
Q

Each service agency has a cost analysis agency that prepares a separate and distinct estimate on programs. This is called the _________ . DoD 5000.2

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: B

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
47
Q

The ____to cost for estimating is based on historical information of similar existing
systems or components.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: B

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
48
Q

The DoDs primary means of collecting data on the cost that DoD contractors incur in
performing DoD programs are called____________ DoD 5000.2

A.  Commercial Summary Expense Reports
B. Contractor Summary Expense Report 
C. Contractor Cost Data Report
D. Commericial Aggregate Expense Report
A

CORRECT ANSWER: C

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
49
Q

The ______is used when it is desirable to cover costs quickly and it is desirable to generate economic or political benefits quickly.

A.  Cost recovery analysis
B.  Analogy approach
C.  Standard deviation
D.  Break even- analysis
A

CORRECT ANSWER: D

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
50
Q

________ seeks to determine the true cost of an object.

A.  Activity based Costing
B.  Financial Accounting
C.  Statistics
D.  Economic Order Quantity
A

CORRECT ANSWER: A

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
51
Q

True or false? Explaining specific assumptions and the rationale underlying each
assumption, and identifying sensitivity, risk and uncertainty to expose the unknowns are not components of effective economic analysis.

A.  True		B.  False
A

CORRECT ANSWER: B

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
52
Q

In preparation for a milestone review, the program office prepares the ______for ACT 1 and ACT 1A programs. DoD 5000.2

A. Cost Analysis Reengineering Description (CARD)
B. Complete Analysis Requirements Description (CARD)
C. Cost Analysis Requirements Description (CARD)
D.  Customer  Analysis Requirements Description
A

CORRECT ANSWER: C

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
53
Q

____is a line graph that is formed by connecting the frequencies of the values.

A.  Frequency polygon
B. Histogram
C. Normal curve
D. Skewed curve
A

CORRECT ANSWER: A

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
54
Q

_________ enables users to draw inferences or correlations from small group called samples
or larger groups called population.

A.  Economic analysis
B.  Inferential statistics
C. Descriptive statistics
D. Inferential economics
A

CORRECT ANSWER: B

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
55
Q

The three most common types of descriptive statistics are measure of central tendency,
measure of dispersion and ______.

A. frequency distribution.
B. the mean
C. the mode
D. none of the above
A

CORRECT ANSWER: A

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
56
Q

The ____is the arithmetic average of a distribution of scores.This is useful for spotting trends.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: C

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
57
Q

The ____divides a data in half and selects that number in the “middle” of the sample.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: A

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
58
Q

The________ is the number that appears most frequently in the data.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: B

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
59
Q

The simplest measure of dispersion is ____which measures the highest value minus the lowest value + 1.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: D

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
60
Q

In ____cost estimating, the cost is based on a physical attribute of a performance
characteristic and their relationship to highly aggregated costs.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost Approach
A

CORRECT ANSWER: A

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
61
Q

The _____is a type of bar graph in which frequencies are represented by the lengths of the bar.

A.  Frequency polygon
B. Histogram
C. Normal curve
D. Skewed curve
A

CORRECT ANSWER: B

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
62
Q

The type of distribution in which data is evenly distributed forming a “bell shaped polygon is
called a_____________

A. Skewed curve
B. Histogram
C. Normal curve
D. Proportion
A

CORRECT ANSWER: C

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
63
Q

If the curve shows a majority of values on the RIGHT side of the mean this indicates a _____

A. negatively skewed curve
B. Histogram
C. Normal curve
D. positively skewed
A

CORRECT ANSWER: A

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
64
Q

The number of items in a category divided by the number of items in all categories is the ___.

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: C

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
65
Q

The number of items in a category X 100 divided by the number of items in all categories
is the ________.

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: B

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
66
Q

The number of items in a category on one date minus the number of items in the category
on the second date X 100 divided by the number of items on the second date is_________

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: A

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
67
Q

The degree of relationship between two or more variables is called__________

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: D

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
68
Q

The payback period is the number of years it will take to recover__________ of a project.

A.  Initial investment
B.  Initial investment and 2 years revenue
C.  2 years of revenue only
D.  None of the above
A

CORRECT ANSWER: A

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
69
Q

The _____ and ______ are measures that tell you whether the majority of values fall close
or far from the mean.

A. PAUC and variance
B. Standard deviation and EOQ
C. Standard deviation and variance
D. Learning Curve and Standard Deviation
A

CORRECT ANSWER: C

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
70
Q

The Mean of the following number set is approximately________. 2,2,2,3,4,5,5

A.  3.5
B. 3.3
C. 5.1
D. 2.23
A

CORRECT ANSWER: B

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
71
Q

A formula that takes the mean of a set, subtracts the individual amounts in the set from the
mean, squares the sums of those amounts and divides by the number of items in the set is
called_____.

A.  Range
B.  Sample size
C. Standard Deviation
D. Variance
A

CORRECT ANSWER: D

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
72
Q

Which of these is not a component of an effective economic analysis?

A. Results and recommendations that are fully addressed
B. Clear Identification of mission related objectives
C. Identification of feasible alternatives, excluding the status quo
D. Anticipated direct  or indirect costs associated with it over the life of the project.
A

CORRECT ANSWER: C

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
73
Q

________enables you to describe precisely a collection of quantitative information in a way
that is easy to understand and interpret. They are the methods used to characterize and
summarize sets of numeric data.

A.  Economic analysis
B.  Inferential statistics
C. Descriptive statistics
D. Cost estimate
A

CORRECT ANSWER: C

74
Q

A formula that takes the square root of the sum of the squares from the mean is called.

A.  Range
B.  Sample size
C. Standard Deviation
D. Variance
A

CORRECT ANSWER: C

75
Q

____ of the population lies within plus or minus 1 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: B

76
Q

_____ of the population lies within plus or minus 2 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: C

77
Q

_____ of the population lies within plus or minus 3 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: D

78
Q

The calculation used to determine the optimal amount that should ordered in an organization is called the_________ .

A.  Standard Deviation
B.  Variance
C.  Economic Order Quantity
D. Ordering and carrying costs
A

CORRECT ANSWER: C

79
Q

A(n) _____is a systematic approach to choosing the best method for allocating scarce resources.

A. process improvement 
B. A-76 study
C. Fiscal Review
D. Economic analysis
A

CORRECT ANSWER: D

80
Q

The two steps to achieve systematic evaluation employs the two principles of___________.

A.  Consider all feasible alternatives and adjust costs and benefits to "present value"
B. Consider all alternatives and adjust costs and benefits to "present value"
C. Consider all feasible alternatives and adjust costs and benefits to "future value"
D. Consider all  alternatives and adjust costs and benefits to "present value"
A

CORRECT ANSWER: A

81
Q

The Mode of the following number set is ________. 2,2,2,3,4,5,5

A.  2
B. 3
C. 4
D. 5
A

CORRECT ANSWER: A

82
Q

The decrease in the amount of time to produce an item would be termed as________ benefit
and is a______________.

A. Quantifiable, Productivity Improvement
B. Non-Quantifiable Productivity Improvement
C. Non Quantifiable,  Cost savings
D. Quantifiable, Cost avoidance.
A

CORRECT ANSWER: A

83
Q

Examples of information that can be used to collect, classify and analyze data before applying cost-estimating include all EXCEPT.

A.  Audit Reports
B.  Technical Manuals
C. Surveys
D.  All of these items may be used.
A

CORRECT ANSWER: D

84
Q

Costs that are considered equal no matter what alternative is selected are called_________

A.  Variable Costs
B.   Common Costs
C.   Sunk Costs
D.  Opportunity Costs
A

CORRECT ANSWER: B

85
Q

___ is a bottom up cost analysis that is the most detailed of all of the techniques and the
most costly.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: C

86
Q

___ uses extrapolation from costs that were contracted for or incurred on that system
during an earlier period.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: D

87
Q

Querying the expert opinion from a group, summarizing results and sending it to the experts and continuing this until there is a consensus are traits of the__________

A. Alpha Technique
B. Beta Technique
C. Delta Technique
D. Delphi Technique
A

CORRECT ANSWER: D

88
Q

The OSD Cost Analysis Improvement Group is an organization outside the service
acquisition community chain. The CAIG prepares a separate and distinct cost estimate on
ACAT I programs know as the _______.

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: C

89
Q

DoD 5000.2 requires that the program office prepare a life cycle cost estimate for all ACT 1
and ACAT 1A programs, which should cover all costs from initiation through disposal this is
called the _____________.

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: A

90
Q

Each service agency has a cost analysis agency that prepares a separate and distinct estimate on programs. This is called the _________ . DoD 5000.2

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: B

91
Q

The ____to cost for estimating is based on historical information of similar existing
systems or components.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: B

92
Q

The DoDs primary means of collecting data on the cost that DoD contractors incur in
performing DoD programs are called____________ DoD 5000.2

A.  Commercial Summary Expense Reports
B. Contractor Summary Expense Report 
C. Contractor Cost Data Report
D. Commericial Aggregate Expense Report
A

CORRECT ANSWER: C

93
Q

The ______is used when it is desirable to cover costs quickly and it is desirable to generate economic or political benefits quickly.

A.  Cost recovery analysis
B.  Analogy approach
C.  Standard deviation
D.  Break even- analysis
A

CORRECT ANSWER: D

94
Q

________ seeks to determine the true cost of an object.

A.  Activity based Costing
B.  Financial Accounting
C.  Statistics
D.  Economic Order Quantity
A

CORRECT ANSWER: A

95
Q

True or false? Explaining specific assumptions and the rationale underlying each
assumption, and identifying sensitivity, risk and uncertainty to expose the unknowns are not components of effective economic analysis.

A.  True		B.  False
A

CORRECT ANSWER: B

96
Q

In preparation for a milestone review, the program office prepares the ______for ACT 1 and ACT 1A programs. DoD 5000.2

A. Cost Analysis Reengineering Description (CARD)
B. Complete Analysis Requirements Description (CARD)
C. Cost Analysis Requirements Description (CARD)
D.  Customer  Analysis Requirements Description
A

CORRECT ANSWER: C

97
Q

____is a line graph that is formed by connecting the frequencies of the values.

A.  Frequency polygon
B. Histogram
C. Normal curve
D. Skewed curve
A

CORRECT ANSWER: A

98
Q

_________ enables users to draw inferences or correlations from small group called samples
or larger groups called population.

A.  Economic analysis
B.  Inferential statistics
C. Descriptive statistics
D. Inferential economics
A

CORRECT ANSWER: B

99
Q

The three most common types of descriptive statistics are measure of central tendency,
measure of dispersion and ______.

A. frequency distribution.
B. the mean
C. the mode
D. none of the above
A

CORRECT ANSWER: A

100
Q

The ____is the arithmetic average of a distribution of scores.This is useful for spotting trends.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: C

101
Q

The ____divides a data in half and selects that number in the “middle” of the sample.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: A

102
Q

The________ is the number that appears most frequently in the data.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: B

103
Q

The simplest measure of dispersion is ____which measures the highest value minus the lowest value + 1.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: D

104
Q

In ____cost estimating, the cost is based on a physical attribute of a performance
characteristic and their relationship to highly aggregated costs.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost Approach
A

CORRECT ANSWER: A

105
Q

The _____is a type of bar graph in which frequencies are represented by the lengths of the bar.

A.  Frequency polygon
B. Histogram
C. Normal curve
D. Skewed curve
A

CORRECT ANSWER: B

106
Q

The type of distribution in which data is evenly distributed forming a “bell shaped polygon is
called a_____________

A. Skewed curve
B. Histogram
C. Normal curve
D. Proportion
A

CORRECT ANSWER: C

107
Q

If the curve shows a majority of values on the RIGHT side of the mean this indicates a _____

A. negatively skewed curve
B. Histogram
C. Normal curve
D. positively skewed
A

CORRECT ANSWER: A

108
Q

The number of items in a category divided by the number of items in all categories is the ___.

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: C

109
Q

The number of items in a category X 100 divided by the number of items in all categories
is the ________.

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: B

110
Q

The number of items in a category on one date minus the number of items in the category
on the second date X 100 divided by the number of items on the second date is_________

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: A

111
Q

The degree of relationship between two or more variables is called__________

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: D

112
Q

The payback period is the number of years it will take to recover__________ of a project.

A.  Initial investment
B.  Initial investment and 2 years revenue
C.  2 years of revenue only
D.  None of the above
A

CORRECT ANSWER: A

113
Q

The _____ and ______ are measures that tell you whether the majority of values fall close
or far from the mean.

A. PAUC and variance
B. Standard deviation and EOQ
C. Standard deviation and variance
D. Learning Curve and Standard Deviation
A

CORRECT ANSWER: C

114
Q

The Mean of the following number set is approximately________. 2,2,2,3,4,5,5

A.  3.5
B. 3.3
C. 5.1
D. 2.23
A

CORRECT ANSWER: B

115
Q

A formula that takes the mean of a set, subtracts the individual amounts in the set from the
mean, squares the sums of those amounts and divides by the number of items in the set is
called_____.

A.  Range
B.  Sample size
C. Standard Deviation
D. Variance
A

CORRECT ANSWER: D

116
Q

Which of these is not a component of an effective economic analysis?

A. Results and recommendations that are fully addressed
B. Clear Identification of mission related objectives
C. Identification of feasible alternatives, excluding the status quo
D. Anticipated direct  or indirect costs associated with it over the life of the project.
A

CORRECT ANSWER: C

117
Q

________enables you to describe precisely a collection of quantitative information in a way
that is easy to understand and interpret. They are the methods used to characterize and
summarize sets of numeric data.

A.  Economic analysis
B.  Inferential statistics
C. Descriptive statistics
D. Cost estimate
A

CORRECT ANSWER: C

118
Q

A formula that takes the square root of the sum of the squares from the mean is called.

A.  Range
B.  Sample size
C. Standard Deviation
D. Variance
A

CORRECT ANSWER: C

119
Q

____ of the population lies within plus or minus 1 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: B

120
Q

_____ of the population lies within plus or minus 2 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: C

121
Q

_____ of the population lies within plus or minus 3 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: D

122
Q

The calculation used to determine the optimal amount that should ordered in an organization is called the_________ .

A.  Standard Deviation
B.  Variance
C.  Economic Order Quantity
D. Ordering and carrying costs
A

CORRECT ANSWER: C

123
Q

A(n) _____is a systematic approach to choosing the best method for allocating scarce resources.

A. process improvement 
B. A-76 study
C. Fiscal Review
D. Economic analysis
A

CORRECT ANSWER: D

124
Q

The two steps to achieve systematic evaluation employs the two principles of___________.

A.  Consider all feasible alternatives and adjust costs and benefits to "present value"
B. Consider all alternatives and adjust costs and benefits to "present value"
C. Consider all feasible alternatives and adjust costs and benefits to "future value"
D. Consider all  alternatives and adjust costs and benefits to "present value"
A

CORRECT ANSWER: A

125
Q

The Mode of the following number set is ________. 2,2,2,3,4,5,5

A.  2
B. 3
C. 4
D. 5
A

CORRECT ANSWER: A

126
Q

The decrease in the amount of time to produce an item would be termed as________ benefit
and is a______________.

A. Quantifiable, Productivity Improvement
B. Non-Quantifiable Productivity Improvement
C. Non Quantifiable,  Cost savings
D. Quantifiable, Cost avoidance.
A

CORRECT ANSWER: A

127
Q

Examples of information that can be used to collect, classify and analyze data before applying cost-estimating include all EXCEPT.

A.  Audit Reports
B.  Technical Manuals
C. Surveys
D.  All of these items may be used.
A

CORRECT ANSWER: D

128
Q

Costs that are considered equal no matter what alternative is selected are called_________

A.  Variable Costs
B.   Common Costs
C.   Sunk Costs
D.  Opportunity Costs
A

CORRECT ANSWER: B

129
Q

Assets that may result when systems or organizations phase out and release personnel,
equipment, nd facilities that are available for use by new or existing systems or organizations
are called_________.

A.   Inherited 
B.   Donated
C.   Abandoned Assets
D.   Recycled Assets
A

CORRECT ANSWER: A

130
Q

_________is the estimated future value of assets that will be available for alternative uses at
a later date when the system will phase out of the force or out of use.

A.  Salvage Value
B.   Projected Value
C.   Residual Value
D.   None of the above
A

CORRECT ANSWER: C

131
Q

_________is the value of an item at the end of its physical life.

A.  Salvage Value
B.   Projected Value
C.   Residual Value
D.   Disposed Value
A

CORRECT ANSWER: A

132
Q

___________dollars are those that are the result of having the effects of inflation removed and are associated with the base year.

A. Current dollars.
B.  Euro dollars
C. "Blue" or  " Green" dollars
D.  Constant dollars
A

CORRECT ANSWER: D

133
Q

A ____is a type of Economic Analysis that documents the review of an entire process such as supply. It requires a risk assessment of each alternative requesting high and low estimates for each cost element an subsequent probability distribution of expected costs.

A.  Capital Budget Analysis
B.  Environmental Quality Economic Analyses
C.  Functional Economic Analysis
D.  Competitive Source Economic Analysis
A

CORRECT ANSWER: C

134
Q

___ is a bottom up cost analysis that is the most detailed of all of the techniques and the
most costly.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: C

135
Q

___ uses extrapolation from costs that were contracted for or incurred on that system
during an earlier period.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: D

136
Q

Querying the expert opinion from a group, summarizing results and sending it to the experts and continuing this until there is a consensus are traits of the__________

A. Alpha Technique
B. Beta Technique
C. Delta Technique
D. Delphi Technique
A

CORRECT ANSWER: D

137
Q

The OSD Cost Analysis Improvement Group is an organization outside the service
acquisition community chain. The CAIG prepares a separate and distinct cost estimate on
ACAT I programs know as the _______.

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: C

138
Q

DoD 5000.2 requires that the program office prepare a life cycle cost estimate for all ACT 1
and ACAT 1A programs, which should cover all costs from initiation through disposal this is
called the _____________.

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: A

139
Q

Each service agency has a cost analysis agency that prepares a separate and distinct estimate on programs. This is called the _________ . DoD 5000.2

A. Program Office Estimate
B.  Component Cost Analysis
C. Independent  Cost Estimate
D. Break Even Analysis
A

CORRECT ANSWER: B

140
Q

The ____to cost for estimating is based on historical information of similar existing
systems or components.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost approach
A

CORRECT ANSWER: B

141
Q

The DoDs primary means of collecting data on the cost that DoD contractors incur in
performing DoD programs are called____________ DoD 5000.2

A.  Commercial Summary Expense Reports
B. Contractor Summary Expense Report 
C. Contractor Cost Data Report
D. Commericial Aggregate Expense Report
A

CORRECT ANSWER: C

142
Q

The ______is used when it is desirable to cover costs quickly and it is desirable to generate economic or political benefits quickly.

A.  Cost recovery analysis
B.  Analogy approach
C.  Standard deviation
D.  Break even- analysis
A

CORRECT ANSWER: D

143
Q

________ seeks to determine the true cost of an object.

A.  Activity based Costing
B.  Financial Accounting
C.  Statistics
D.  Economic Order Quantity
A

CORRECT ANSWER: A

144
Q

True or false? Explaining specific assumptions and the rationale underlying each
assumption, and identifying sensitivity, risk and uncertainty to expose the unknowns are not components of effective economic analysis.

A.  True		B.  False
A

CORRECT ANSWER: B

145
Q

In preparation for a milestone review, the program office prepares the ______for ACT 1 and ACT 1A programs. DoD 5000.2

A. Cost Analysis Reengineering Description (CARD)
B. Complete Analysis Requirements Description (CARD)
C. Cost Analysis Requirements Description (CARD)
D.  Customer  Analysis Requirements Description
A

CORRECT ANSWER: C

146
Q

____is a line graph that is formed by connecting the frequencies of the values.

A.  Frequency polygon
B. Histogram
C. Normal curve
D. Skewed curve
A

CORRECT ANSWER: A

147
Q

_________ enables users to draw inferences or correlations from small group called samples
or larger groups called population.

A.  Economic analysis
B.  Inferential statistics
C. Descriptive statistics
D. Inferential economics
A

CORRECT ANSWER: B

148
Q

The three most common types of descriptive statistics are measure of central tendency,
measure of dispersion and ______.

A. frequency distribution.
B. the mean
C. the mode
D. none of the above
A

CORRECT ANSWER: A

149
Q

The ____is the arithmetic average of a distribution of scores.This is useful for spotting trends.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: C

150
Q

The ____divides a data in half and selects that number in the “middle” of the sample.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: A

151
Q

The________ is the number that appears most frequently in the data.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: B

152
Q

The simplest measure of dispersion is ____which measures the highest value minus the lowest value + 1.

A.  Median
B. Mode
C. Mean
D. Range
A

CORRECT ANSWER: D

153
Q

In ____cost estimating, the cost is based on a physical attribute of a performance
characteristic and their relationship to highly aggregated costs.

A.  Parametric approach
B.  Analogy approach
C.  Engineering approach
D.  Actual Cost Approach
A

CORRECT ANSWER: A

154
Q

The _____is a type of bar graph in which frequencies are represented by the lengths of the bar.

A.  Frequency polygon
B. Histogram
C. Normal curve
D. Skewed curve
A

CORRECT ANSWER: B

155
Q

The type of distribution in which data is evenly distributed forming a “bell shaped polygon is
called a_____________

A. Skewed curve
B. Histogram
C. Normal curve
D. Proportion
A

CORRECT ANSWER: C

156
Q

If the curve shows a majority of values on the RIGHT side of the mean this indicates a _____

A. negatively skewed curve
B. Histogram
C. Normal curve
D. positively skewed
A

CORRECT ANSWER: A

157
Q

The number of items in a category divided by the number of items in all categories is the ___.

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: C

158
Q

The number of items in a category X 100 divided by the number of items in all categories
is the ________.

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: B

159
Q

The number of items in a category on one date minus the number of items in the category
on the second date X 100 divided by the number of items on the second date is_________

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: A

160
Q

The degree of relationship between two or more variables is called__________

A.  Percentage change
B.  Percentage
C. Proportion
D. Correlation
A

CORRECT ANSWER: D

161
Q

The payback period is the number of years it will take to recover__________ of a project.

A.  Initial investment
B.  Initial investment and 2 years revenue
C.  2 years of revenue only
D.  None of the above
A

CORRECT ANSWER: A

162
Q

The _____ and ______ are measures that tell you whether the majority of values fall close
or far from the mean.

A. PAUC and variance
B. Standard deviation and EOQ
C. Standard deviation and variance
D. Learning Curve and Standard Deviation
A

CORRECT ANSWER: C

163
Q

The Mean of the following number set is approximately________. 2,2,2,3,4,5,5

A.  3.5
B. 3.3
C. 5.1
D. 2.23
A

CORRECT ANSWER: B

164
Q

A formula that takes the mean of a set, subtracts the individual amounts in the set from the
mean, squares the sums of those amounts and divides by the number of items in the set is
called_____.

A.  Range
B.  Sample size
C. Standard Deviation
D. Variance
A

CORRECT ANSWER: D

165
Q

Which of these is not a component of an effective economic analysis?

A. Results and recommendations that are fully addressed
B. Clear Identification of mission related objectives
C. Identification of feasible alternatives, excluding the status quo
D. Anticipated direct  or indirect costs associated with it over the life of the project.
A

CORRECT ANSWER: C

166
Q

________enables you to describe precisely a collection of quantitative information in a way
that is easy to understand and interpret. They are the methods used to characterize and
summarize sets of numeric data.

A.  Economic analysis
B.  Inferential statistics
C. Descriptive statistics
D. Cost estimate
A

CORRECT ANSWER: C

167
Q

A formula that takes the square root of the sum of the squares from the mean is called.

A.  Range
B.  Sample size
C. Standard Deviation
D. Variance
A

CORRECT ANSWER: C

168
Q

____ of the population lies within plus or minus 1 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: B

169
Q

_____ of the population lies within plus or minus 2 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: C

170
Q

_____ of the population lies within plus or minus 3 standard deviation under a normal curve.

A.  54%
B.  68%
C. 95.4%
D. 99.7%
A

CORRECT ANSWER: D

171
Q

The calculation used to determine the optimal amount that should ordered in an organization is called the_________ .

A.  Standard Deviation
B.  Variance
C.  Economic Order Quantity
D. Ordering and carrying costs
A

CORRECT ANSWER: C

172
Q

A(n) _____is a systematic approach to choosing the best method for allocating scarce resources.

A. process improvement 
B. A-76 study
C. Fiscal Review
D. Economic analysis
A

CORRECT ANSWER: D

173
Q

The two steps to achieve systematic evaluation employs the two principles of___________.

A.  Consider all feasible alternatives and adjust costs and benefits to "present value"
B. Consider all alternatives and adjust costs and benefits to "present value"
C. Consider all feasible alternatives and adjust costs and benefits to "future value"
D. Consider all  alternatives and adjust costs and benefits to "present value"
A

CORRECT ANSWER: A

174
Q

The Mode of the following number set is ________. 2,2,2,3,4,5,5

A.  2
B. 3
C. 4
D. 5
A

CORRECT ANSWER: A

175
Q

The decrease in the amount of time to produce an item would be termed as________ benefit
and is a______________.

A. Quantifiable, Productivity Improvement
B. Non-Quantifiable Productivity Improvement
C. Non Quantifiable,  Cost savings
D. Quantifiable, Cost avoidance.
A

CORRECT ANSWER: A

176
Q

Examples of information that can be used to collect, classify and analyze data before applying cost-estimating include all EXCEPT.

A.  Audit Reports
B.  Technical Manuals
C. Surveys
D.  All of these items may be used.
A

CORRECT ANSWER: D

177
Q

Costs that are considered equal no matter what alternative is selected are called_________

A.  Variable Costs
B.   Common Costs
C.   Sunk Costs
D.  Opportunity Costs
A

CORRECT ANSWER: B

178
Q

Assets that may result when systems or organizations phase out and release personnel,
equipment, nd facilities that are available for use by new or existing systems or organizations
are called_________.

A.   Inherited 
B.   Donated
C.   Abandoned Assets
D.   Recycled Assets
A

CORRECT ANSWER: A

179
Q

_________is the estimated future value of assets that will be available for alternative uses at
a later date when the system will phase out of the force or out of use.

A.  Salvage Value
B.   Projected Value
C.   Residual Value
D.   None of the above
A

CORRECT ANSWER: C

180
Q

_________is the value of an item at the end of its physical life.

A.  Salvage Value
B.   Projected Value
C.   Residual Value
D.   Disposed Value
A

CORRECT ANSWER: A

181
Q

___________dollars are those that are the result of having the effects of inflation removed and are associated with the base year.

A. Current dollars.
B.  Euro dollars
C. "Blue" or  " Green" dollars
D.  Constant dollars
A

CORRECT ANSWER: D

182
Q

A ____is a type of Economic Analysis that documents the review of an entire process such as supply. It requires a risk assessment of each alternative requesting high and low estimates for each cost element an subsequent probability distribution of expected costs.

A.  Capital Budget Analysis
B.  Environmental Quality Economic Analyses
C.  Functional Economic Analysis
D.  Competitive Source Economic Analysis
A

CORRECT ANSWER: C

CDFM Module 3 (3 decks)

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