14.5: PMP-Style Sample Questions
- Page ID
- 124784
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The make-or-buy analysis is conducted during which process?
A. Conduct Procurements
B. Plan Procurement Management
C. Control Procurements
D. Close Procurements
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Which contract type places the highest risk on the seller?
A. Cost Plus Fixed Fee
B. Time and Materials
C. Firm Fixed Price
D. Cost Plus Award Fee
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In a CPIF contract, if costs are less than expected, the:
A. Buyer keeps all the savings
B. Seller receives additional profit as agreed incentive
C. Contract price increases automatically
D. Seller pays penalties
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A bidder conference is used to:
A. Negotiate final pricing with the selected vendor
B. Clarify procurement requirements for all potential vendors equally
C. Determine if vendors can meet schedule requirements
D. Review performance after contract completion
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Which process ensures that seller performance meets contract terms?
A. Conduct Procurements
B. Control Procurements
C. Close Procurements
D. Plan Procurement Management
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A hybrid contract with hourly labor rates plus material costs is known as:
A. Firm Fixed Price
B. Cost Plus Fixed Fee
C. Time and Materials
D. Cost Plus Award Fee
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The primary output of the “Conduct Procurements” process is:
A. Procurement Statement of Work
B. Selected Seller(s) and Agreements
C. Contract Change Control System
D. Make-or-Buy Decisions
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Which document formally closes a procurement?
A. Procurement Audit
B. Lessons Learned Register
C. Formal Acceptance Documentation
D. Procurement Management Plan
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Which contract type is most suitable when requirements are well-defined?
A. Time and Materials
B. Firm Fixed Price
C. Cost Plus Incentive Fee
D. Cost Plus Award Fee
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Procurement audits are conducted primarily to:
A. Identify causes of seller performance issues
B. Determine contract type
C. Select vendors
D. Approve final payment
Answer Key: 1–B, 2–C, 3–B, 4–B, 5–B, 6–C, 7–B, 8–C, 9–B, 10–A