Industry Regulations & Compliance Flashcards
7 cards from real CAM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Industry Regulations & Compliance flashcards as text
Which FAR-level policy document establishes earned value management requirements for major acquisitions across all federal civilian agencies?
Answer: OMB Circular A-11 (Capital Programming Guide)
OMB Circular A-11 and its Capital Programming Guide require EVMS on major federal capital acquisitions government-wide.
A CAM assigns Level of Effort (LOE) as the earned value technique for discrete design work to avoid showing schedule variance. Why is this a compliance violation?
Answer: LOE automatically earns value with passing time, masking true performance on measurable work
LOE earns value simply by time passing, so applying it to discrete measurable work hides real schedule performance.
Under EVMS guidelines, variance analysis thresholds are established primarily to:
Answer: Focus management attention on significant deviations requiring explanation and corrective action
Thresholds trigger formal variance analysis so management effort concentrates on the most significant problems.
Which statement about Undistributed Budget (UB) is compliant with EIA-748?
Answer: UB holds budget for authorized scope not yet distributed to control accounts and should be allocated promptly
UB is a temporary holding account for authorized but not-yet-distributed scope and budget, which must be distributed in a timely manner.
During a DCMA surveillance review, a CAM cannot explain the basis of estimate for the Estimate at Completion (EAC). Which EVMS process area is most directly deficient?
Answer: Analysis and Management Reports
Developing and maintaining a credible, documented EAC falls under the Analysis and Management Reports guidelines.
The Truthful Cost or Pricing Data statute (formerly the Truth in Negotiations Act) primarily requires contractors to:
Answer: Submit and certify current, accurate, and complete cost or pricing data for covered contract actions
TINA requires certified cost or pricing data that is current, accurate, and complete for negotiated actions above the threshold.
Which entity audits contractor accounting systems and incurred costs supporting EVMS data on government contracts?
Answer: Defense Contract Audit Agency (DCAA)
DCAA audits contractor accounting systems and costs, complementing DCMA's EVMS compliance oversight.