Set of flashcards PMP Questions (Page 2 of 3)

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Language	English
Category	Micro-Economics
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Created / Updated	12.08.2013 / 06.06.2025
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41. A project manager is managing a project that has reached the end of planning phase. The work scope has been agreed to and definitive cost estimates have been completed for the project. The total estimated cost of the project is $100,000. It is reasonable to expect that the project will not cost over which of the following value?

a. $100,000

b. $110,000

c. $125,000

d. $175,000

A schedule was developed for a project to install windows in an apartment building. The project is a rush job, and the contractor has agreed to schedule the work on a single shift basis but will work seven days per week until the job is done. The project is to begin on May 1. 42. What day in May will activity D have for its early finish date?

a. May 13

b. May 6

c. May 7

d. May 5

A schedule was developed for a project to install windows in an apartment building. The project is a rush job, and the contractor has agreed to schedule the work on a single shift basis but will work seven days per week until the job is done. The project is to begin on May 1. 43. What is the free float for activity F?

a. 6

b. 7

c. 0

d. 8

A schedule was developed for a project to install windows in an apartment building. The project is a rush job, and the contractor has agreed to schedule the work on a single shift basis but will work seven days per week until the job is done. The project is to begin on May 1. 44. What is the free float for activity D?

a. 6

b. 7

c. 8

d. 0

A schedule was developed for a project to install windows in an apartment building. The project is a rush job, and the contractor has agreed to schedule the work on a single shift basis but will work seven days per week until the job is done. The project is to begin on May 1. 45. What is the critical path of the project?

a. A B E G H

b. A B D F H

c. A C G H

d. A B E D F H

A schedule was developed for a project to install windows in an apartment building. The project is a rush job, and the contractor has agreed to schedule the work on a single shift basis but will work seven days per week until the job is done. The project is to begin on May 1. 46. What is the late start for activity F?

a. May 10

b. May 11

c. May 12

d. May 14

A schedule was developed for a project to install windows in an apartment building. The project is a rush job, and the contractor has agreed to schedule the work on a single shift basis but will work seven days per week until the job is done. The project is to begin on May 1. 47. How long is the project in days?

a. Nineteen

b. Twenty

c. Twenty-one

d. Eighteen

A schedule was developed for a project to install windows in an apartment building. The project is a rush job, and the contractor has agreed to schedule the work on a single shift basis but will work seven days per week until the job is done. The project is to begin on May 1. 48. What is the early start for activity F?

a. May 7

b. May 6

c. May 5

d. May 4

A schedule was developed for a project to install windows in an apartment building. The project is a rush job, and the contractor has agreed to schedule the work on a single shift basis but will work seven days per week until the job is done. The project is to begin on May 1. 49. If there is a delay in activity F of six days, what is the effect on the project completion date?

a. Increases one day

b. No change to project completion date

c. Increases two days

d. Increases three days

A schedule was developed for a project to install windows in an apartment building. The project is a rush job, and the contractor has agreed to schedule the work on a single shift basis but will work seven days per week until the job is done. The project is to begin on May 1. 50. What is the early finish date for activity A?

a. May 1

b. May 2

c. May 3

d. May 4

A schedule was developed for a project to install windows in an apartment building. The project is a rush job, and the contractor has agreed to schedule the work on a single shift basis but will work seven days per week until the job is done. The project is to begin on May 1. 51. The above diagram is called:

a. Activity on arrow network diagram

b. Network diagram

c. Precedence diagram

d. Gantt chart

52. If a project manager were to make Thanksgiving dinner, two of the activities that might be of concern would be roasting the turkey and baking the sweet potatoes. In order to ensure that these two items will be finished cooking and will come out of the oven at the same time, what type of relationship should he or she use in the schedule between these two activities?

a. Finish – finish

b. Start – start

c. Finish – start

d. Start – finish

In a project to install concrete sewer lines there is a lot of uncertainty as to how long the durations should be for the tasks involved. The project manager has determined that the team will use the PERT technique to evaluate the project’s completion date. The diagram shows nine activities and the table shows the optimistic, pessimistic, and most likely estimates that the team has already made. 53. What is the expected value of the number of days to complete the project?

a. 47.3

b. 22.0

c. 32.3

d. 48

In a project to install concrete sewer lines there is a lot of uncertainty as to how long the durations should be for the tasks involved. The project manager has determined that the team will use the PERT technique to evaluate the project’s completion date. The diagram shows nine activities and the table shows the optimistic, pessimistic, and most likely estimates that the team has already made. 54. It is desirable to make an estimate that has a greater than 95% chance of being correct. Which of the following ranges of time for the impletion of the project best describes this probability of being correct?

a. 33.31 to 31.36

b. 34.28 to 30.39

c. 14.39 to 33.48

d. 35.25 to 29.42

In a project to install concrete sewer lines there is a lot of uncertainty as to how long the durations should be for the tasks involved. The project manager has determined that the team will use the PERT technique to evaluate the project’s completion date. The diagram shows nine activities and the table shows the optimistic, pessimistic, and most likely estimates that the team has already made. 55. What is the expected value of the duration for activity B?

a. 5.6

b. 2.8

c. 3.0

d. 2.6

In a project to install concrete sewer lines there is a lot of uncertainty as to how long the durations should be for the tasks involved. The project manager has determined that the team will use the PERT technique to evaluate the project’s completion date. The diagram shows nine activities and the table shows the optimistic, pessimistic, and most likely estimates that the team has already made. 56. What is the standard deviation for the duration of activity B?

a. 1.000

b. .133

c. .166

d. 1.413

57. The project manager decided to improve the predicted completion date for the project by doing in parallel several of the activities that were scheduled to be done in sequence. This is called:

a. Crashing

b. Increasing priorities

c. Hurry up defense

d. Fast tracking

58. Crashing the schedule means:

a. Making the project shorter by any economic means

b. Running the project team on overtime

c. Doing activities that were in sequence in parallel

d. Getting out of town before the project is in trouble

59. The original schedule (for a project, a work package, or an activity). Plus or minus approved changes, is called:

a. The working schedule

b. The target schedule

c. The performance schedule

d. The baseline schedule

60. Schedules are used in many ways. In a project to build a bridge the project manager wants to use a tool that will show the scheduled activities in such a way that it is easy to see when each activity starts and finishes and which activities are taking place at the same time. Which tool should be used?

a. PERT chart

b. Gantt chart

c. Precedence diagram

d. GERT chart

61. Which of the following is true about pure risk?

A. The risk can be deflected or transferred to another party through a contract or insurance policy.

B. Pure risks involve the chance of both a profit and a loss.

C. No opportunities are associated with pure risk, only losses.

D. A and C

62. A contingency plan is:

A. A planned response that defines the steps to be taken if an identified risk event should occur.

B. A workaround

C. A reserve used to allow for future situations which may be planned for only in part.

D. A and C

63. Deflection or transfer of a risk to another party is part of which of the following risk response categories?

A. Mitigation

B. Acceptance

C. Avoidance

D. Analysis

64. Management reserves are used to handle which type of risk?

A. Unknown unknowns

B. Known unknowns

C. business risks

D. pure risks

65. Which of the following is considered during the Procurement Planning Process?

A. Whether to procure

B. How to procure and how much to procure

C. What and when to procure

D. all of the above

66. From a buyer's standpoint, which of the following is true?

A. Procurement planning should include consideration of potential subcontracts

B. Procurement planning does not include consideration of potential subcontracts since this is the duty of the contractor.

C. Subcontractors are first considered during the Solicitation Process

D. none of the above

67. Which of the following is true about procurement documents?

A. Procurement documents are used to solicit proposals from prospective sellers.

B. Invitation for Bid and Request for Proposal are two examples of procurement documents.

C. Procurement documents should be structured to facilitate accurate and complete responses from prospective sellers.

D. all of the above

68. Which of the following is a method for quantifying qualitative data in order to minimize the effect of personal prejudice on source selection?

A. Weighting system

B. Screening system

C. Selecting system

D. none of the above

69. Which of the following are examples of indirect costs?

A. Salaries of corporate executives

B. Salaries of full-time project staff

C. Overhead costs

D. a and c

70. Which of the following contract types places the greatest risk on the seller?

A. Cost-plus-fixed-fee contract

B. Cost plus-incentive-fee contract

C. Fixed-price-incentive contract

D. Firm-fixed-price contract

71. In which of the following contract types is the seller's profit limited?

A. Cost-plus-percentage-cost contract

B. Cost-plus-fixed-fee contract

C. Fixed-price-plus-incentive

D. b and c

72. A cost-plus-percentage-cost (CPPC. contract has an estimated cost of $120,000 with an agreed profit of 10% of the costs. The actual cost of the project is $130,000. What is the total reimbursement to the seller?

A. $143,000

B. $142,000

C. $140,000

D. $132,000

73. A fixed-price-plus-incentive-fee (FPI. contract has a target cost of $130,000, a target profit of $15,000, a target price of $145,000, a ceiling price of $160,000, and a share ratio of 80/20. The actual cost of the project was $150,000. How much profit does the seller make?

A. $10,000

B. $15,000

C. $0

D. $5,000

74 Under what circumstances is it better for a contractor to subcontract?

A. The subcontractor possesses special technical and engineering skills that the contractor does not have.

B. The work to be subcontracted represents almost all of the overall work effort.

C. The subcontractor can perform the work at a lower cost than the contractor.

D. a and c

75 Which type of bilateral contract is used for high dollar, standard items?

A. Purchase order

B. Request for proposal (RFP).

C. Invitation for bid (IFB).

D. Request for quotation (RFQ).

76. In which stage of the negotiation meeting are points of concession identified?

A. Probing

B. Closure

C. Agreement

D. Scratch bargaining

77. Which of the following is NOT a method of government procurement?

A. Assistance

B. Sealed Bidding

C. Competitive proposals

D. Acquisition

78. The "rule of seven" as applied to process control charts means that :

A. If there are seven points on one side of mean, then an assignable cause must be found.

B. Seven consecutive points are ascending, descending, or the same.

C. At least seven inspectors should be in place for every thousand employees.

D. A process is not out of control even though seven measurements fall outside the lower and upper control limits.

79. There is project with CPI of 0.81 and TCPI=1.00001 this project is:

A. Overbudget and cannot recover

B. Underbudget

C. Overbudget and early in its evolution

D. No interference cam be made

80. A collection of generally sequential project phases whose name and number are determined by the control needs of the organization or organizations involved in the project, is called:

A. Project life cycle

B. Product life cycle

C. Project life event

D. All of the above

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