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461. Which of the following contract types has the highest risk to the contractor:
A. Firm fixed price (FFP)
B. Time and material (T&M)
C. Cost plus fixed fee (CPFF)
D. Cost plus incentive fee (CPIF)
E. A and B only
ANS: A
462. Work authorization forms are needed in order to:
A. Authorize line organizations to charge against the project
B. Establish an audit trail
C. Develop a structured methodology for release of funds
D. All of the above
E. A and C only
ANS: D
463. Your client, with which you have good relations, wants you to provide him with office supplies. This task is not supported under your contract.
You respond to your client's informal request using which medium?
A. Speech
B. Written
C. Oral
D. A and C
E. Form letter
ANS: C
464. A project manager wants to transmit a complex message to several subordinates. What is the best medium by which the manager can get his
message across?
A. Oral
B. Written
C. Nonverbal
D. A and B only
E. A, B, and C.
ANS: E
465. A technique that can be used to measure the total income of a project compared to the total moneys expended at any period of time is:
A. return on investment (ROI)
B. net present value (NPV)
C. discounted cash flow (DCF)
D. B and C
E. All of the above.
ANS: E
466. Range estimating in determining cost risk probabilities requires _____ .
A. an amount of financial exposure.
B. risks and opportunities ranked in order of bottom line importance
C. contingency requirements for expected level of confidence
D. probability of cost overrun occurrences
E. All of the above.
ANS: E
467. Satisfaction of the functional requirements of a product is called _____ .
A. usability
B. reliability
C. maintainability
D. producibility
E. All of the above.
ANS: E
468. The project charter is a document designed to tell _____ exactly what the project entails.
A. The project manager
B. The project office
C. The project team
D. The project sponsor
E. Anyone associated with the project
ANS: E
469. Which of the following control types has the highest risk to the owner:
A. Firm fixed price (FFP)
B. Time and material (T&M)
C. Cost plus fixed fee (CPFF)
D. Cost plus incentive fee (CPIF)
E. A and B only
ANS: B
470. Which of the following statements is in agreement with McGregor's concepts concerning Theory X and Theory Y managers?
A. Theory X managers view subordinates as being lazy, irresponsible, and resistant to change
B. Theory Y managers view subordinates as being imaginative, creative, and willing to accept responsibility
C. Theory X managers tend to be autocratic whereas Theory Y managers are more likely to delegate responsibility
D. A and B.
E. All of the above
ANS: E
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