If certified cost or pricing data are not required, which data may be used to determine price reasonableness or cost realism?

If certified cost or pricing data are not required, which data may be used to determine price reasonableness or cost realism?

• A. Information other than cost or pricing data
• B. Data that must be certified
• C. Government audit reports
• D. Only historical price data

Answer: (A)

When certified cost or pricing data aren’t required, you determine price reasonableness or cost realism using information other than cost or pricing data. This means you can rely on credible, non-cost data such as market research, quotes from suppliers, catalog prices, historical prices paid for similar items, and other objective sources to benchmark the proposed price. The important point is that you’re not limited to cost data; you can use a variety of relevant data to show the price is fair and reasonable or the cost is realistic in light of what is known. Data that must be certified isn’t a requirement in this scenario, and relying solely on historical price data would be too narrow; incorporating multiple non-cost data sources helps establish a solid justification for reasonableness or realism.

When certified cost or pricing data aren’t required, you determine price reasonableness or cost realism using information other than cost or pricing data. This means you can rely on credible, non-cost data such as market research, quotes from suppliers, catalog prices, historical prices paid for similar items, and other objective sources to benchmark the proposed price. The important point is that you’re not limited to cost data; you can use a variety of relevant data to show the price is fair and reasonable or the cost is realistic in light of what is known. Data that must be certified isn’t a requirement in this scenario, and relying solely on historical price data would be too narrow; incorporating multiple non-cost data sources helps establish a solid justification for reasonableness or realism.