Which of the following is NOT an exception to obtaining certified cost of pricing data?

The correct answer highlights an important aspect of procurement regulations concerning certified cost or pricing data. High-value contracts, contrary to what might be assumed, do indeed require certified cost or pricing data unless they fall under specific exceptions. The criteria for certified cost or pricing data generally involve ensuring transparency and fairness in pricing, especially for high-stakes purchases.

The other options represent recognized exceptions where obtaining this type of data is not necessary. Adequate price competition implies that prices are determined through a competitive environment, eliminating the need for detailed cost analysis. Prices set by law also do not require certified cost or pricing data, as they are predetermined and standardized. Lastly, commercial items, being products typically sold in the marketplace, align with established cost structures that do not necessitate certification for pricing in most scenarios.

Thus, knowing that high-value contracts are subject to stricter standards in obtaining pricing data gives clarity to why it does not fall under the exceptions provided.