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QUESTION NO: 1
The formula EV - PV provides the:
A. cost difference.
B. schedule variance.
C. schedule difference.
D. cost variance.
Answer: B
QUESTION NO: 2
What is the correct approach when handling extra costs of which the customer is deemed responsible and the relevant purchase order has been received?
A. Update estimate to completion (ETC) and update ordered works in cost baseline.
B. Cost baseline updated.
C. Update estimate to completion (ETC) and update materialized costs in cost baseline.
D. Estimate to completion updated.
Answer: A
QUESTION NO: 3
What are the 2 primary inputs for the cost baseline calculation?
A. Subcontracted services and overhead.
B. Subcontracted services and local material purchases.
C. Costs of internal resources and costs of direct external workforce.
D. Resources and subcontracted services.
Answer: D
QUESTION NO: 4
In which phase of the project is the greatest amount of its funding likely to be spent?
A. Initiating.
B. Executing.
C. Planning.
D. Closeout.
Answer: B
QUESTION NO: 5
The equivalent of a cost reimbursable contract is frequently termed:
A. back-charge contract.
B. fixed price contracts.
C. progress payment contract.
D. cost plus contract.
Answer: D
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Updated: May 27, 2022