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10.4: PMP-Style Sample Questions

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    1. The make-or-buy analysis is conducted during which process?
      1. Conduct Procurements
      2. Plan Procurement Management
      3. Control Procurements
      4. Close Procurements
    2. Which contract type places the highest cost risk on the seller?
      1. Cost Plus Fixed Fee
      2. Time and Materials
      3. Firm Fixed Price
      4. Cost Plus Award Fee
    3. A CPIF contract includes incentives tied to:
      1. Subjective buyer satisfaction only
      2. Cost, schedule, or technical performance targets
      3. Fixed fee amounts
      4. Material costs only
    4. A bidder conference is used to:
      1. Negotiate final pricing with the selected vendor
      2. Clarify requirements equally for all potential vendors
      3. Evaluate vendor proposals
      4. Close the procurement
    5. Which process ensures seller performance meets contract terms?
      1. Conduct Procurements
      2. Control Procurements
      3. Close Procurements
      4. Plan Procurement Management
    6. Time and materials contracts are best suited for:
      1. Well-defined scope with stable requirements
      2. Situations where scope cannot be clearly defined
      3. Maximum cost certainty
      4. Transferring all risk to the seller
    7. The primary output of Conduct Procurements is:
      1. Procurement management plan
      2. Selected sellers and signed agreements
      3. Make-or-buy decisions
      4. Performance reports
    8. Formal acceptance documentation is created during:
      1. Plan Procurement Management
      2. Conduct Procurements
      3. Control Procurements
      4. Close Procurements
    9. Which contract type is most appropriate when requirements are uncertain and evolving?
      1. Firm Fixed Price
      2. Fixed Price with Economic Price Adjustment
      3. Cost Plus Fixed Fee
      4. Time and Materials with ceiling
    10. Procurement audits are conducted primarily to:
      1. Select vendors
      2. Identify successes and lessons learned
      3. Negotiate contract terms
      4. Process final payments
    11. In a Fixed Price with Incentive Fee contract, cost savings are:
      1. Kept entirely by the buyer
      2. Kept entirely by the seller
      3. Shared between buyer and seller per the sharing formula
      4. Returned to the project reserve
    12. A Statement of Work (SOW) should include:
      1. Vendor pricing only
      2. Deliverables, acceptance criteria, and performance standards
      3. Evaluation scores
      4. Lessons learned
    13. Which party bears the cost risk in a cost-reimbursable contract?
      1. The seller
      2. The buyer
      3. Risk is shared equally
      4. Neither party
    14. Contract change control processes should address:
      1. Only scope changes
      2. Authorization levels, impact assessment, and documentation
      3. Vendor selection criteria
      4. Make-or-buy decisions
    15. Source selection criteria should be:
      1. Developed after proposals are received
      2. Predetermined with clear weighting factors
      3. Based solely on price
      4. Kept confidential from the evaluation team

     

    Answer Key: 1-B, 2-C, 3-B, 4-B, 5-B, 6-B, 7-B, 8-D, 9-C, 10-B, 11-C, 12-B, 13-B, 14-B, 15-B

    10.4: PMP-Style Sample Questions is shared under a CC BY 4.0 license and was authored, remixed, and/or curated by LibreTexts.