Which is NOT an exception to certified cost & pricing for actions over $2M?

Prepare for the USACE Contracting Officer Review Board (CORB) Test. Use flashcards, multiple choice questions, and detailed explanations to enhance your study. Ensure your readiness and boost your confidence for the exam!

Multiple Choice

Which is NOT an exception to certified cost & pricing for actions over $2M?

Explanation:
For actions over $2 million, certified cost or pricing data are required unless an exception applies. The recognized exceptions are adequate price competition, prices set by law or regulation, and the use of commercial items. An independent cost estimate, while a useful pricing tool to assess reasonableness and support negotiations, does not itself waive the requirement for certified data. Therefore, it is not an exception to the need for certified cost and pricing data.

For actions over $2 million, certified cost or pricing data are required unless an exception applies. The recognized exceptions are adequate price competition, prices set by law or regulation, and the use of commercial items. An independent cost estimate, while a useful pricing tool to assess reasonableness and support negotiations, does not itself waive the requirement for certified data. Therefore, it is not an exception to the need for certified cost and pricing data.

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