Which of the following are exceptions to obtaining certified cost or pricing data?

The correct answer highlights specific circumstances under which certified cost or pricing data are not required. Adequate price competition indicates that if multiple suppliers are vying for a contract, their competition provides a reasonable assurance of fair pricing without needing extensive cost data. This is premised on the idea that the market will regulate prices effectively in such scenarios.

Commercial items are also exempt from the requirement, as these are widely available in the marketplace, and their prices are established through competitive commercial practices, thus not necessitating the same level of scrutiny as custom or specialized goods. Lastly, prices set by law refer to situations where the pricing has been predetermined by legislation, which naturally alleviates the need for further verification through certified cost or pricing data.

In contrast, the other options either suggest aspects that do not collectively align with the criteria established for exemptions, or they present scenarios where certified data may still be required, such as estimates or the presence of non-competitive bids that do not inherently ensure pricing fairness. Understanding these exceptions is crucial for contracting officers to streamline procurement processes and maintain compliance with regulations.