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Answers 2023 & 2024 latest
PMP Practice Exam 1 Question and
Answers 2023 & 2024
Project G will cost 400,000 and is expected to earn $550,000? In the first year. What is the benefit-cost ratio for this project? - Ans $550,000 / $400,000 = 1.38. How many knowledge areas are in the PMBOK and what are they? - Ans 10, Project integration management, Project scope management, Project schedule management, Project cost management, Project quality management, Project resource management, Project communications management, Project Risk Management, Project Procurement management, Project stakeholder management How many PDU's from each section of the PMI Talent Triangle do you need to recertify? - Ans8 PDU's in each of the Triangle domains: Technical Training, Leadership Training, and Strategic Training. Jesse is building a new smartphone application and hopes to have it in the marketplace by November. His anticipated income from this app for next year is $30,000? If the current interest rate is 4 percent, what can Jesse expect that $30, to be worth in today's dollars? - Ans $30,000/1.04 = $28,846. Your project will cost $80,000. The finance department estimates revenues the next three years to be: $20,000, $35,000, and $66,000. If the current interest rate is 5 percent, what is the estimated NPV for your project? - Ans Year 1: $20,000 / 1.05 = $19,047.62; Year 2: $35,000 / 1.10 = $31,818.18; Year 3: $66,000 / 1.16 = $56, 896.55; Total Cash Inflows: $19,047.62+$31,818.18+$56, 896.55 = $107,762.35; $107,762.35 - $80,000 = $27,762.35. NPV=(Cashflows)/(1+r)^t Project P has an NPV of $150,000; Project Q has an NPV of $75,000. If you choose to work Project P, what is the opportunity cost of not choosing Project Q? - Ans $75, Steve is considering borrowing $150,000 to fund a project to build a new pole barn for his construction company. If Steve borrows the money at 5 percent interest over five years, what is the minimum his project should be worth at the end of five years for this to be a good investment? - Ans 150000(1.05)^5 = $191,442. Andrew, the project manager of FGH project, is working on estimating the cost of activity X in his project. The activity might take anywhere between $75,000 and $125,000 based on the best-case and worst-case scenarios respectively. Rick, the
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senior most member of the team, tells Andrew that the activity will most likely cost $100,000. What is the expected cost of activity X as per Beta distribution? - Ans $100,000 Expected cost (cE) of an activity based on the Beta distribution can be calculated using the formula cE = (cO + 4cM + cP) / 6 where cO is the optimistic cost, cP is the pessimistic cost and cM is the most likely cost of the activity A project comprises of activities A, B, C and D. The longest path includes activities A, C, and D which take two days, ten days and 20 days respectively. Activity B, on the other hand, takes eight days to complete. If activity D takes two extra days to complete, what is the shortest possible project duration? - Ans The critical path for this project is A-C-D, and it, therefore, determines the shortest possible project duration as 2+10+20 = 32 days. As D needs two more days to complete, 32+2 = 34 days becomes the new project duration. Robert has an MBA, a few years of PM experience at his company and just completed a PMP Exam Prep course. Which options best describes the qualification(s) he needs to apply for the PMP Exam: - Ans With a college degree, candidates may apply for the PMP exam with 4, hours of experience leading project tasks and 36 months of non-overlapping months of project management experience within the last 8 years Elizabeth is working to justify her project and has chosen payback periods as the method of showing value. Her project is expected to cost $100,000 and save the company $18,000 a quarter. How long will it take this project to payback? - Ans 100000/18000 = 5.55 quarters Priscilla, project manager of the OFF project, is working on the project charter. She wants to know if the project charter is considered to be a contract, and approaches you with this question. What would be your best answer to her question? - Ans A project charter is not a considered to be a contract because there is no consideration or money promised or exchanged in its creation What does performance data primarily deal with? - Ans Raw Data and Facts of your project Which of the following is not an example of the cost of quality (COQ)? A) Investment in preventing nonconformance to requirements B) Apprising the product or service for conformance to requirements C) Failing to meet requirements (rework) D) None of the above - Ans D) None of the above - The cost of quality (COQ) includes all costs incurred over the life of the product by investment in preventing nonconformance to requirements, appraising the product or service for conformance to requirements, and failing to meet requirements (rework). Victor is working in a balanced matrix environment and is sharing a database architect with another team. He is working with the PM on that team to make sure
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Nick is the project manager of project TYD and his team is currently working on estimating the strengths and weaknesses of alternatives to determine the best alternative regarding benefits provided. What tool are they most likely using? A) Cost-benefit analysis B) Benchmarking C) Quality control D) None of the above - Ans A) Cost-benefit analysis Systems Engineering, Value Engineering, and value analysis are examples of? - Ans Product Analysis When stakeholders are voting on requirements, what are the doing? - Ans Nominal group technique Your PMIS should do which of the following? A) Requirement configuration management B) Calculate critical path C) Calculate ROI D) Management Documents - Ans B) Calculate critical path A risk owner will be allocated to each project risk as part of the perform qualitative risk analysis process. What is the risk owner responsible for? - Ans Planning an appropriate risk response and for reporting progress on managing the risk If you needed to determine how to identify, prioritize, analyze and approve detailed requirements and specifications, which plan would you reference? - Ans Requirement management plan Obtaining experience, knowledge and wisdom is an example of? - Ans Cognitive level integration Your former company restricted the use of communication tools to email and telephone. Your new company allows the use of chat and social media platforms for team communication. What integration management situation are you dealing with? A) Process Level integration B) Cognitive level integration C) Context level integration D) Project level integration - Ans Context level integration Heather just started in her new role as a Project Manager. Her resource manager gives her a document that describes: Work to be completed by phase; Expected deliverables of each project phase; Phase gates; Closing checklist. What is Heather reviewing: A) PMBOK process groups
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B) Company methodology C) Project life cycle D) Job requirements - Ans Project Life cycle Respect for others, Integrity, and a desire to learn are examples of? A) Power B) Competency C) Management D) Leadership - Ans Leadership Management focuses on , while leadership focuses on? A) Leading, Driving B) Completing work, Motivation C) Process, Reporting D) Communication, Motivation - Ans B) Completing work, Motivation You know you need to work on your negotiation skills, so you create a plan to learn and improve that skill over the next 12 months. Which stage of the conscious- competency model are you in? A) Unconsciously incompetent B) Consciously incompetent C) Consciously competent D) Unconsciously competent - Ans B) Consciously incompetent You have an agreement with XYZ Inc for executing a part of your project. During the project, your counterpart from XYZ Inc has requested for an amendment to the agreement, and you have given your consent for the same. What is the next thing that you should do? - Ans Amend the agreement by following the change control terms of the agreement and capture the amendments in writing You are the project manager of project BNM. The project management office in your organization has been supporting you by supplying specific templates, forms, and tools; and requiring that you comply with the expectations of their usage. Which of the following types best describes your PMO? A) Supportive B) Controlling C) Directive D) Collaborative - Ans Controlling - Controlling PMOs provide support and require compliance through various means. Which type of PMO defines project governance through frameworks, templates, forms, and communication?
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Interpersonal and team skills play an important role in the Monitor Stakeholder Engagement process. Which of the following interpersonal skills can be used for this process? A) Active listening B) Cultural awareness C) Political awareness D) All of the above - Ans D) All of the above In preparation for his upcoming project, Roger is going through the PMBOK® Guide. He finds out that during early strategic planning when information is less defined, work packages may be decomposed to the known level of detail. As more is known about the upcoming events in the near term, work packages can be decomposed into activities. What is this technique called as? A) Rolling wave planning B) Decomposition C) Create WBS D) None of the above - Ans Rolling wave planning - Rolling wave planning is an iterative planning technique in which the work to be accomplished in the near term is planned in detail, while work further in the future is planned at a higher level. You have an agreement with XYZ Inc for executing a part of your project. For some of the changes, your organization and XYZ Inc are unable to reach an agreement on compensation. What are these contested changes called as? A) Claims B) Disputes C) Appeals D) Conflicts - Ans Claims - Contested changes and potential constructive changes are those requested changes where the buyer and seller cannot reach an agreement on compensation for the change or cannot agree that a change has occurred. These contested changes are called claims. Which components are part of administrative project closure? - Ans Collect all project documents, analyze project success or failure, archive project information Earned value analysis compares the performance measurement baseline to the actual schedule and cost performance. EVM develops and monitors three key dimensions for each work package and control account. Which, among the following, is not one among those three? A) Planned value B) Earned value C) Actual cost D) Budget at completion - Ans Budget at completion
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Lists of sellers that have been properly vetted can streamline the steps needed to advertise the opportunity and shorten the timeline for the seller selection process. Preapproved seller lists are included in which of the following? A) Organizational Process assets B) Enterprise Environmental factors C) Procurement polices D) None of the above - Ans A) Organizational process assets Past project files, forms, and templates best describe? A) Organizational process assets B) Enterprise environmental factors C) Governance framework D) Knowledge repository - Ans A) Organizational process assets Richard, the project manager of MPM project, is preparing the communications management plan for his project. Which of the following information does the communications management plan not contain? A)Stakeholder communication requirements B) Escalation processes C) Geographic distribution of facilities and resources D) Resources allocated for communication activities - Ans C) Geographic distribution of facilities and resources CPI of project VCZ is 0.9 and its SPI is 0.8. 20% of the project budget has already been spent. The expected cost to finish all the remaining project work is known as?
- Ans Estimate to complete Decision trees are used to support the selection of the best of several alternative courses of action. What do the end-points of branches in the decision tree represent? - Ans The outcome from following that particular path Alison is well respected in her company, and often is assigned to the highest profile projects. Many of her teams will go the "extra mile" for her because she is authentic, is true to her word and often defers the "glory" of achievement to her team. Which role is Alison most likely demonstrating? A) Referent Power B) Expert Power C) Informational Power D) Ingratiating Power - Ans A) Referent Power Some dependencies in projects are inherent like the work, whereas some others are established based on knowledge of best practices, even though there may be other
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C) Interviews D) None of the above. The project charter must be developed by the project manager, and not by the sponser. - Ans A) Brainstorming The project managers and teams report to a single manager. This manager determines which projects are to be worked on and controls the budgets for each effort. Which type of organization is this? A) Matrixed B) Functional C) PMO D) Project-oriented - Ans B) Functional These requirements define why the project has been initiated? - Ans Business Requirements These requirements define the quality and environmental aspects of your product? - Ans Non-Functional requirements These requirements define the specific behaviors and capabilities of your product? - Ans Functional requirements These requirements define the features and functionality of your product? - Ans Solution requirement Jenny is working on a project to build a water treatment plant, and is required by the state to obtain a third-party environmental assessment before work can begin. This assessment would be an example of? A) Marketplace condition B) Government and industry standard C) Physical enterprise environmental factor D) Law and regulation - Ans Law and regulation Projects exist and operate in environments that may influence them. Some of these influences originate from the environment outside of the project, whereas some others are internal to the organization. Which of the following is an organizational process asset that can influence a project? A) Legal restrictions B) Government or industry standards C) Processes, policies, and procedures D) Organizational culture structure, and governance - Ans C) Processes, policies, and procedure Wendy is a project manager in a balanced matrix organization. What 3 characteristics would define this role? - Ans Low-to-moderate level of authority, does not manage the budget, is part-time
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Susan is a project expediter. What 3 characteristics would define this role? - Ans Little to no authority, part-time, report to a functional manager This data representation technique is used to determine whether or not a process is stable or has predictable performance. Which technique is being referred here? A) Control Chart B) Histogram C) Scatter diagram D) Cause-and-effect diagram - Ans A) Control chart You are working a construction project to erect a new high-rise building. Your company requires at least 50 percent of your vendors must be union workers. This is an example of which one of the following choice? A) Employee capability B) Historical information C) Resource availability D) Physical location - Ans Employee capability is the most complex aspect of project management? - Ans Human behavior Your company manufactures automobiles. The project sponsor has designated you as the project manager for the CVB project. Which of the following cannot be considered as a project in your company? A) Improving the design of a component used in one of your cars B) Improving the efficiency of product development process C) Improving the efficiency of your assembly line D) None of the above - Ans D) None of the above Enterprise environmental factors? - Ans Influence how a PM is allowed to manage a project A planned presentation on project status to Sr. Management is an example of? A) Formal communication B) Informal communication C) Vertical communication D) Horizontal communication - Ans A) Formal communication Greg bumps into his project sponsor in the cafeteria and gives him a quick update on the project status. Which type of communication is this? A) Formal communication B) Informal communication C) Vertical communication
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Ans C)It is primarily concerned with the correctness of the deliverables and meeting the quality requirements specified for the deliverables Quality and grade are not the same concepts. Which of the following statements is incorrect about quality and grade of a product? A) It may not be a problem if a suitable low-grade product is of high quality B) It may be a problem if a high-grade product is of low quality C) It may not be a problem if a low-quality product is of a suitable low-grade D) none of the above - Ans C)It may not be a problem if a low-quality product is of a suitable low-grade Testing is one of the tools and techniques in the Control Quality process. What is true about Testing? - Ans The intent of testing is to find errors, defects, bugs or other non conformance problems in the product or service Andy has created a team charter for his team and is expecting that everyone adheres to it. Which of the following statements are correct about the team charter? A) It is a document that establishes the team values, agreements, and operating guidelines for the team B) It works best when the team develops or at least has an opportunity to contribute to it C) All project team members share responsibility for ensuring the rules documented in the team charter are followed D) All of the above - Ans D) All of the above Your lifecycle requires a high-level definition of the project at the beginning, and more detailed scope and cost is documented and you gather more information and better understand the project deliverable. Which life cycle are you working in? A) Hybrid Life Cycle B) Iterative Life Cycle C) Predictive Life Cycle D) Adaptive Life Cycle - Ans B) Iterative Life Cycle Your company requires that scope, time and cost be defined upfront in the project. This definition best describes which life cycle? A) Hybrid Life Cycle B) Iterative Life Cycle C) Predictive Life Cycle D) Adaptive Life Cycle - Ans C) Predictive Life Cycle You are working on a creative project with a high probability of many changes. You chose to complete short planning and execution phases to shorten the feedback loop with the customer. Which life cycle are you most likely using? A) Hybrid Life Cycle
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B) Iterative Life Cycle C) Predictive Life Cycle D) Adaptive Life Cycle - Ans D) Adaptive Life Cycle Your manager asks you to develop scope and budget upfront and work with the customer to deliver functionality until the budget runs out. Which life cycle best describes your situation? A) Hybrid Life Cycle B) Iterative Life Cycle C) Predictive Life Cycle D) Adaptive Life Cycle - Ans A) Hybrid Life Cycle What are the 3 key skill sets of the PMI talent triangle - Ans Technical project management, Leadership. Strategic and Business management Jay is one of the stakeholders of your project, and his work will be significantly impacted because of the deliverables of your project. He dislikes the project due to this reason. Which of the following best describes Jay's engagement level? A) Neutral B) Leading C) Resistant D) Unaware - Ans C) Resistant Linear Programming, Integer Algorithms, Dynamic Programming and multi-objective programming are examples of? A) Constrained Optimization Methods B) Lessons Learned Techniques C) Quality Assurance Methods D) IRR Calculation Models - Ans A) Constrained Optimization Methods Joseph's team is working to generate, classify, and prioritize product requirements. They have decided to deploy a collective decision-making technique to decide on the future course of action on a point. Of the seven members present, three agree on a specific approach, 2 suggest an alternative and the other two support a completely different approach. The team decided to go with the approach that was supported by three members. Which of the following voting techniques did they use? A) Unanimity B) Majority C) Plurality D) None of the above - Ans C) Plurality -Plurality is the voting technique where a decision is reached based on what the largest block in a group decides, even if a majority is not achieved
