PMP MCQ Questions and Answers

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Q221
You are the project manager responsible for renovating a 70-year old office building. You intend to hire an outside construction firm to seismic retrofit the building in order to make that the building can with stand large earthquakes. You are in the process of selecting a contract type best suited for this project. You would like to select a contract type that transfers the risks onto the seller for any cost risk and nonperformance issues. Which contract type should you choose?
  • A CPPC contracts
  • B CPFF contracts
  • C Cost reimbursable contracts
  • D Fixed price contracts
Answer: Option D
Q222
All of the statements regarding decision tree analysis is true EXCEPT:
  • A Decision tree analysis is a tool/ technique of Quantitative Risk Analysis
  • B Decision tree analysis uses EMV analysis
  • C Decision tree is a technique for measuring the performance of a work and is used to create the performance measurement baseline
  • D EMV is a statistical concept that calculates the average outcome of project outcomes based on various assumptions and scenarios
Answer: Option C
Q223
Qualitative risk analysis requires accurate data as its input. Risk Data Quality Assessment is a technique to evaluate the degree to which the data regarding risks would be useful. What is the best course of action if the Risk Data Quality Assessment for most of the identified risks are low?
  • A Attempt to gather more accurate data
  • B Re-evaluate the risk data quality assessment
  • C Develop a probability-impact matrix to compensate for the low rankings
  • D No further actions are needed, since a low Risk Data Quality Assessment is ideal
Answer: Option A
Q224
Which of the following are not tools/ techniques that can be used to create the WBS?
  • A WBS dictionary
  • B Decomposition
  • C None of the choices are correct
  • D Work breakdown structure templates
Answer: Option A
Q225
Which of the following statements are true regarding Management Reserves?
  • A Management Reserves are used to ensure that the expenditure of funds is reconciles with the funding limits imposed by the performing organization
  • B Management Reserves describes the differences between the maximum funding and the end of the cost baseline
  • C Management Reserves are part of the project management plan and is usually displayed as a S-Shaped curve.
  • D Management Reserves is a technique for measuring the performance of work and is used to establish the performance measurement baseline
Answer: Option B
Q226
You are currently in the process of prioritizing risks by their impact or probability of occurrence. Which of following tools/ techniques are LEAST useful?
  • A Risk categorization
  • B Root cause identification
  • C Risk urgency assessment
  • D Risk data quality assessment
Answer: Option B
Q227
All of the following statements regarding Control Accounts are true EXCEPT:
  • A A control account is an assigned WBS level used to monitor cost and schedule performance of significant element of work.
  • B Control accounts are also referred to as cost accounts
  • C None of the choices are correct
  • D A control account is a management control point for costsummarization, scope description, and variance analysis and reporting.
Answer: Option C
Q228
Keeping up with the growth was becoming a problem for a privately owned Chinese financial services company. Although it easily lured business from state-owned competitors, low skill levels and weak accounting systems threaten the company
  • A Implement schedule change control system
  • B Finalize risk management activities
  • C Create the preliminary project schedule
  • D Identify logical relationship among activities
Answer: Option C
Q229
You are in the process of establishing a total cost baseline for measuring project performance. All of the following are outputs of this process EXCEPT:
  • A Cost management plan updates
  • B Scope baseline
  • C Activity cost estimates
  • D Project funding requirements
Answer: Option C
Q230
You are the project manager for a construction company. Your firm has been contracted to complete the construction of a 10-story office building. This project will use three point estimates to calculate the estimates for activity duration. You have the following estimates for task A (creating the foundation). Assuming the triangular distribution what is the average duration estimate based on the following three point estimates? Pessimistic= 100 days Optimistic= 40 days Most likely=65 days
  • A 66.66
  • B 75
  • C 70
  • D 68.33
Answer: Option D

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