File Info
| Exam | Certified Professional Contracts Manager |
| Number | CPCM |
| File Name | Financial.CPCM.PrepAway.2018-12-05.83q.vcex |
| Size | 46 KB |
| Posted | Dec 05, 2018 |
| Download | Financial.CPCM.PrepAway.2018-12-05.83q.vcex |
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Demo Questions
Question 1
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
Question 2
Those incentives that use predetermined formula-based methods to calculate the amount of incentive, either positive or negative, in one or more designated areas are called:
- Objectively-based and evaluated
- Subjectively-based and evaluated
- Early-based and evaluated
- Final-based and evaluated
Correct answer: A
Explanation:
Question 3
Which of the following shows the designated performance area in the objectively-based and evaluated incentives?
- Cost performance
- Schedule or delivery performance
- Quality performance
- All of the above
Correct answer: D
Question 4
Those incentives that use individual judgment, opinions, and informed impressions as the basis for determining the amount of incentive, either positive or negative, in one or more designated areas are called:
- Objectively-based and evaluated
- Subjectively-based and evaluated
- Early-based and evaluated
- Final-based and evaluated
Correct answer: B
Question 5
Which of the following shows the designated performance area in the subjectively-based and evaluated incentives?
- Award fees
- Other special incentives
- Both A & B
- Neither A nor B
Correct answer: C
Question 6
The point at which sharing changes to 0/100 is called the _____________, which represents a cost figure.
- Point of configuration
- Point of total assumption
- Pattern point
- Prototype point
Correct answer: B
Question 7
An agreement on a set of criteria and procedures to be applied by the buyer in determining how well the seller has performed and how much fee the seller has earned is called:
- Inducement plans
- Awarded-plans
- Award-free plans
- Contract incentive plans
Correct answer: C
Question 8
A fixed fee that the seller will earn no matter how its performance is evaluated in known as:
- incurred fee
- award fee
- period fee
- base fee
Correct answer: D
Question 9
Which contracts allow overrun or under-run sharing of cost through a predetermined formula for fee adjustments that apply to incentives for cost category contracts?
- fixed price incentive
- cost-plus-incentive fee
- special incentive fee
- pros and cons of award fee
Correct answer: B
Question 10
Time and Material contracts typically involve higher levels of risks for sellers.
- True
- False
Correct answer: B
