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1. Which contract type is typically used whenever the seller's performance period spans a considerable period of years?
A) Fixed Price with Economic Price Adjustment contracts (FP-EPA)
B) Cost-Plus-Fixed-Fee contracts (CPFF)
C) Time and Material contracts (T&M)
D) Fixed-Price-Incentive-Fee contracts (FPIF)
2. The resource calendars document is an output of which process?
A) Estimate Activity Resources
B) Develop Schedule
C) Acquire Project Team
D) Develop Project Team
3. A work package has been scheduled to cost $1,000 to complete, and was to be finished today. As of today, the actual expenditure is $1,200 and approximately half of the work has been completed.
What is the cost variance?
A) -$700
B) +$500
C) -$200
D) +$200
4. What is an output of Control Scope?
A) Accepted deliverables
B) Work performance information
C) Work performance measurements
D) Requirements documentation
5. Which of the following choices is a contract closure tool or technique?
A) Closure process
B) Procurement plan
C) Contract plan
D) Procurement audits
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: D |
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