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Actual Cost Quiz

Which of the following contract types places the greatest risk on the seller?

In which of the following contract types is the seller's profit limited?

A cost-plus-percentage-cost (CPPC) contract has an estimated cost of $120,000 with an agreed profit of 10% of the costs. The actual cost of the project is $130,000. What is the total reimbursement to the seller?

A cost-plus-incentive-fee (CPIF) contract has an estimated cost of $150,000 with a predetermined fee of $15,000 and a share ratio of 80/20. The actual costs of the project is $130,000. How much profit does the seller make?

A fixed-price-plus-incentive-fee (FPI) contract has a target cost of $130,000, a target profit of $15,000, a target price of $145,000, a ceiling price of $160,000, and a share ratio of 80/20. The actual cost of the project was $150,000. How much profit does the seller make?

Under what circumstances is it better for a contractor to subcontract?

Which type of bilateral contract is used for high dollar, standard items?

Which of the following are characteristics of a purchase order?

In which stage of the negotiation meeting are points of concession identified?

Which type of warranty is enacted if a service or product does not meet the level of quality specified in the contract?

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