File Info
| Exam | Certified Professional Contracts Manager |
| Number | CPCM |
| File Name | Financial.CPCM.Prep4Sure.2019-03-14.144q.vcex |
| Size | 78 KB |
| Posted | Mar 14, 2019 |
| Download | Financial.CPCM.Prep4Sure.2019-03-14.144q.vcex |
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Demo Questions
Question 1
The solicitation specifications and statement of work contain:
- Administrative requirements
- Technical requirements
- Company policy
- Pricing contracts
Correct answer: B
Question 2
The range between the extremes of an optimistic and pessimistic prediction about future costs is called range of:
- Possible costs
- Final costs
- Scope costs
- Limit costs
Correct answer: A
Question 3
The risk avoiding buyer wants to minimize the risk of agreeing to a higher price than necessary to cover the buyer’s costs plus a reasonable profit.
- True
- False
Correct answer: B
Question 4
Who avoid the risk of agreeing to the price that may not cover its actual performance costs or allow a reasonable profit?
- Risk avoiding buyer
- Business professional
- Risk avoiding seller
- Technical personnel
Correct answer: C
Question 5
____________ occur when the work has not changed, but it costs more than anticipated.
- Cost Growth
- Unpredictable cost
- Extra cost
- Cost overruns
Correct answer: D
Question 6
The pricing arrangements fall into which of the following categories:
- Fixed-price
- cost-reimbursement
- Time-and-material contracts
- All of the above
Correct answer: D
Question 7
A pre-contract agreement that merely communicates any agreed-to terms and conditions that will apply when an order is placed by the buyer is known as:
- Macro agreement
- Universal agreement
- Fixed agreement
- Approved agreement
Correct answer: B
Question 8
What clause can provide for price increases based on the seller’s costs but not on the seller’s decision to increase the prices of its products and services?
- Economic price adjustment
- Variable-price adjustment
- Prices & Taxes adjustment
- Appropriate price adjustment
Correct answer: A
Question 9
Governments commonly use what type of contracts when contracting with universities and non-profit organizations for research projects?
- Written contracts
- Variable contracts
- Cost reimbursement contracts
- Cost sharing contracts
Correct answer: C
Question 10
The cost-plus-a-percentage-of-cost contract provides for the seller to receive reimbursement for its actual cost and a profit component, called __________, equal to some predetermined percentage of its actual costs.
- fee
- statement
- penalty
- None of the above
Correct answer: A
