Download Certified Professional Contracts Manager.CPCM.Prep4Sure.2019-03-14.144q.vcex

Vendor: Financial
Exam Code: CPCM
Exam Name: Certified Professional Contracts Manager
Date: Mar 14, 2019
File Size: 78 KB

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Demo Questions

Question 1
The solicitation specifications and statement of work contain:
  1. Administrative requirements
  2. Technical requirements
  3. Company policy
  4. 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:
  1. Possible costs
  2. Final costs
  3. Scope costs
  4. 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.
  1. True
  2. 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?
  1. Risk avoiding buyer
  2. Business professional
  3. Risk avoiding seller
  4. Technical personnel
Correct answer: C
Question 5
____________ occur when the work has not changed, but it costs more than anticipated.
  1. Cost Growth
  2. Unpredictable cost
  3. Extra cost
  4. Cost overruns
Correct answer: D
Question 6
The pricing arrangements fall into which of the following categories:
  1. Fixed-price
  2. cost-reimbursement
  3. Time-and-material contracts
  4. 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:
  1. Macro agreement
  2. Universal agreement
  3. Fixed agreement
  4. 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?
  1. Economic price adjustment
  2. Variable-price adjustment
  3. Prices & Taxes adjustment
  4. 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?
  1. Written contracts
  2. Variable contracts
  3. Cost reimbursement contracts
  4. 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.
  1. fee
  2. statement
  3. penalty
  4. None of the above
Correct answer: A

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