A. Technical capability
B. Intellectual property rights
C. Proprietary rights
D. History
42) As a PM, you are performing make-or-buy analysis on whether to create a software tool in-house or procure it from outside. Which of the below do not influence make-or-buy decisions?
A. Core capabilities of the organization
B. Value delivered by vendors meeting the need
C. Cost-free estimating of vendor capability
D. Capability internally compared with the vendor community
43) As a PM of a construction company, you invite prospective sellers to meet with you and address their questions before they submit a bid. You collect questions from the bidders and incorporate responses as amendments to procurement documents. This meeting cannot be called a:
A. Bidder conference
B. Verbal conference
C. Contractor conference
D. Pre-bid conference
44) Which of the following is/are not true about bidder conferences?
A. They are used to conduct open bidding from prospective sellers to ensure buyer gets the best offer
B. They are used to clarify prospective seller questions to ensure common understanding of buyer’s requirements
C. They are meetings between buyer and prospective sellers after submitting a bid
D. Each prospective seller’s question is answered by the buyer and kept confidential
Answer choices:
1. A, B, D
2. B, C, D
3. A, B, C
4. A, C, D
45) Which of the following is not true about agreements?
A. They are informal documents between a buyer and seller
B. They are mutually binding
C. They can be simple or complex
D. They may reflect the simplicity of the effort
46) You are conducting procurements for your project. Which of the below tools and techniques can you use? Choose the best answer.
A. You meet with prospective sellers to explain your requirements and answer any questions the sellers may have
B. You ask members of your company’s legal team to evaluate sellers’ proposals
C. Your company has a list of potential sellers. But you post ads online inviting other sellers
D. You hire a professional estimator to estimate costs for your statement of work
Answer choices:
1. A
2. A, B
3. A, B, C
4. A, B, C, D
47) A procurement agreement has been prepared that includes terms and conditions and other items that the seller has to provide. Whose responsibility is it to ensure that the agreement meets the needs of the project and abides by the organization’s procurement policies?
A. Project manager
B. Seller
C. Project management team
D. Buyer and seller
48) A procurement agreement can also be called:
A. Understanding
B. Contract
C. Sub contract
D. Purchase order
Answer choices:
1. A
2. B
3. C
4. All of the above
49) Which of the below is not true about a contract?
A. It is a mutually binding legal agreement
B. It is a legal relationship subject to remedy in court
C. Obligates seller to provide specified products and buyer to pay seller
D. Final contract language may not reflect all agreements reached
50) A contract has been prepared between your company (seller) and the client that includes the options A-D below. Which of these can the buyer not specify in the contract?
A. Payment to you will be made 30 days after you bill the client
B. Your resources will be evaluated every quarter for performance on the project
C. Roles and responsibilities for your resources on the project
D. Selection criteria that was used to choose you for award of contract
51) During procurement award, the buyer specifies that any disputes that arise between you and the buyer have to be resolved out of court, using arbitration. You agree. You have been awarded the contract. The arbitration clause gets added to the:
A. Contract
B. Statement of work
C. Risk register
D. Independent estimate
52) During procurement award, the buyer specifies that any disputes that arise between you and the buyer have to be resolved using alternative dispute resolution. You agree and have been awarded the contract. Which of the below are examples of not examples of alternative dispute resolution:
A. Conciliation
B. Remedy in court
C. Arbitration
D. Mediation
53) The project management processes that are applied in Control procurements are:
A. Direct and Manage Project Work
B. Control Quality
C. Perform Integrated Change Control
D. Control Risks
Answer choices:
1. A
2. A, B
3. A, B, C
4. A, B, C, D
54) Which of the following is not true about agreements?
A. Include details on incentives, insurance and performance bonds
B. Can be amended prior to contract closure
C. Amendments are captured in writing
D. Can be amended with consent from buyer or seller
55) Which of the following in a contract can be changed by getting an approved change request?
A. Terms and conditions
B. Procurement statement of work
C. Pricing
D. Descriptions of the deliverables to be provided
Answer choices:
1. A
2. A, B
3. A, B, C
4. A, B, C, D
56) You are a PM collecting work performance data as part of a contract with a seller. Which of the following will not be part of the data?
A. Statement of work
B. How far the quality standards set have been satisfied
C. Costs incurred
D. Finding out which invoices from seller have been paid
57) Which of the below is true about quality and grade?
A. A quality level that fails to meet quality requirements is always a problem, a low grade of quality may not be a problem
B. A quality level that fails to meet quality requirements may not always be a problem, a low grade of quality is always be a problem
C. A quality level that fails to meet quality requirements is always a problem, a low grade of quality is always a problem
D. A quality level that fails to meet quality requirements may not always be a problem, a low grade of quality may not be a problem
58) You spend money on the following activities during the project to avoid failures. Which of these are costs of conformance?
A. Training costs
B. Equipment costs
C. Costs associated with the time to build the right product
D. Costs associated with documenting the processes
1. A
2. A, B
3. A, B, C
4. A, B, C, D
59) You spend money on the following activities to avoid failures. Which of these are costs of conformance?
A. Training costs
B. Equipment costs
C. Rework costs
D. Costs for warranty work
1. A
2. A, B
3. A, B, C
4. A, B, C, D
60) Your construction project procures fancy light fixtures from a supplier. Your team performs quality audits and identifies that the fixtures are of poor quality. The contractor has also not complied with a labor requirement that was agreed to in the contract. Which of the below techniques are you using now?
A. Performance Reporting
B. Work Performance Data
C. Procurement Performance Review
D. Work performance information
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