9.5: PMP-Style Sample Questions

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Which process results in the creation of the cost baseline?
A. Estimate Costs
B. Determine Budget
C. Control Costs
D. Plan Cost Management
In EVM, a CPI value of 1.05 means the project is:
A. Over budget
B. Under budget
C. On budget
D. Behind schedule
Which estimating method uses historical project data as a basis?
A. Bottom-up
B. Analogous
C. Parametric
D. Three-point
If EV = $50,000 and AC = $55,000, the CV is:
A. –$5,000 (over budget)
B. $5,000 (under budget)
C. –$5,000 (under budget)
D. $0 (on budget)
The cost management plan is a:
A. Subsidiary plan of the project management plan
B. Baseline document
C. Contract requirement
D. Scope document
Which reserve is included in the cost baseline?
A. Management reserve
B. Contingency reserve
C. Funding reserve
D. Profit reserve
Parametric estimating is best used when:
A. There is no historical data
B. There is a known statistical relationship between variables
C. The project is unique and unprecedented
D. Only high-level data is available
A CPI of 0.85 indicates the project is:
A. Behind schedule
B. Ahead of schedule
C. Over budget
D. Under budget
EAC is primarily used to:
A. Approve changes to the baseline
B. Predict total project cost at completion
C. Measure earned value
D. Create the budget
Which of the following is a valid corrective action for negative CV?
A. Increase project scope
B. Reduce resource efficiency
C. Adjust work methods to lower costs
D. Delay deliverables

Answer Key: 1–B, 2–B, 3–B, 4–A, 5–A, 6–B, 7–B, 8–C, 9–B, 10–C

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