PMP Class 2 Exam Questions and Answers

PMP Class 2 Exam Questions and Answers What is the cost of a work package if the resource costs are $25/hour and material costs are $250? This would should take about 75 hours. Correct Answer-$2,125 Which of the foll ...

PMP Class 2 Exam Questions and Answers What is the cost of a work package if the resource costs are $25/hour and material costs are $250? This would should take about 75 hours. Correct Answer-$2,125 Which of the following statements regarding control accounts is true? Correct Answer-A control account is established where the lowest OBS element intersects the lowest WBS element. You are estimating the costs for a work effort and have received the following information: best case is $150, and worst case, it could cost as much as $225. However, the most likely cost estimate is $195. What is the budget estimate for this work using a triangular distribution formula? Correct Answer- $190.00 How are S-curves used for projects? Correct Answer-They help you track progress. Which term refers to the final value of your project that is set at the beginning of your project? Correct Answer-Budget at completion (BAC). You have determined the following information regarding your project. To-date, $43,000 of work has been completed and $47,000 has been spent. The plan called for $44,000 of the $200,000 worth of work to be complete. What is the current earned value? Correct Answer-$43,000 Verified deliverables is an output of which process? Correct Answer-Control Quality What is the overall purpose of benchmarking? Correct Answer-Learn from best-in-class projects or companies. Which of the following groups defines quality levels for a new project? Correct Answer-Customers. Which statement below accurately describes the purpose of the Manage Quality process? Correct Answer-The purpose is to increase confidence that quality will be achieved. Which statement below accurately describes the purpose of the Control Quality process? Correct Answer-Ensure all project outputs are complete, correct and meet customer expectations. Which of the following is a feature of a quality audit? Correct Answer-They are responded to. Which conflict resolution technique would be most appropriate when neither side can get everything they need and it's more important to move on than keep working on the conflict? Correct AnswerCompromise When is the best time for team building to take place for a project? Correct Answer-Continuously. Which resource management process focuses on improving competencies with the goal of improving project performance? Correct Answer-Develop Team What type of communication is most appropriate for an executive briefing? Correct Answer-Formal verbal Which communication management process is responsible for ensuring the communication needs of project stakeholders is met? Correct Answer-Monitoring Communications How many communication channels are there for a team of five? Correct Answer-10 Expected monetary value (EMV) is associated with which quantitative risk analysis technique? Correct Answer-Decision tree analysis Which of the project risk management processes includes brainstorming as a tool and technique? Correct Answer-Identify Risks Which risk response planning are used for positive risks (opportunities)? Correct Answer-Exploit, enhance, and share. A high-priority risk has activated, and the planned response deployed. However, the risk was not fully resolved. What is the name for this type of risk? Correct Answer-Residual risk Which statement about contingency reserves is true? Correct Answer-The accept risk response is handled by the contingency reserve. The list of procured items is found in which procurement document? Correct Answer-Procurement management plan Which contract clause indemnifies the buyer if there is a loss? Correct Answer-Insurance clause Calculate the final price using the following information. The target cost is $100,000, and the actual cost is $93,000. The target fee is $9,000, and the share ratio is 60/40. Correct Answer-$104,800 You are working on a project to update the corporate training database. The director of the training department has been a key stakeholder of your project but has recently taken a new position. Her project role will be shifted to someone else. Which project document must be updated first because of this change? Correct Answer-Stakeholder register Managing stakeholder engagement activities includes which of the following? Correct Answer-Clarifying and resolving stakeholder issues The stakeholder engagement assessment matrix is routinely reviewed and updated during which stakeholder management process? Correct Answer-Monitor Stakeholder Engagement Your project is a process improvement project. A manual process currently exists, but you've found no written documentation to support it. Everybody seems to just know what to do when things happen. What type of knowledge is this? Correct Answer-Implicit knowledge Your project is updating an existing assembly line to add more automation equipment. Which of the following would NOT be considered configuration items (CIs) of this project? Correct Answer-Changes to the plant layout Which of the following statements regarding verification and validation is true? Correct AnswerValidation leads to accepted deliverables, and verification leads to completed deliverables. The legal definition of fairness requires all of the following conditions EXCEPT: Correct Answer-Fairness requires the situation must be ethical. Conducting ourselves in a professional manner, even when it's not reciprocated is associated with which PMI® Code of Conduct and Professional Responsibility value? Correct Answer-Value of respect Which of the following is an example of intellectual property? Correct Answer-A trademark