Free PMI PMI-002 Practice Exam with Questions & Answers | Set: 12

Name: How to Pass PMI-002 Exams
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Questions 166

Your selection committee is debating between two projects. Project A has a payback period of 20 months. Project B has a cost of $150,000, with expected cash inflows of $50,000 the first year and $25,000 per quarter after that. Which project should you recommend?

Options:

Either Project A or Project B, because the payback periods are equal

Project A, because Project B's payback period is 24 months

Project A, because Project B's payback period is 20 months

Project A, because Project B's payback period is 21 months

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Evan

02-Jan-2025

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Questions 167

You are a project manager for your organization. Management has asked you to help them determine which projects should be selected for implementation. In a project selection model, which one of the following is the most important factor?

Options:

Business needs

Type of constraints

Budget

Schedule

Questions 168

What is the key difference between a contract close-out and an administrative closure?

Options:

Contract close-out formalizes project completion.

Contract close-out includes updating records with final results.

Administrative closure includes procurement audits.

Contract close-out includes product verification.

Questions 169

Based on the PMBOK, who is ultimately responsible for the project quality?

Options:

Project team

Project manager

QA manager

Validation engineer

Questions 170

Which of the following are not indirect costs?

Options:

Payroll tax cost.

Subcontract costs.

Insurance costs.

Accounting support costs.

Questions 171

Mathematical models using linear, dynamic, integer, or algorithm models are considered

Options:

Project selection methods

Project selection criteria

A form of expert judgment

A form of historical information

Questions 172

You are the project manager for a new construction project in your city. Your personal friend is bidding on the project. Your friend has asked you to give them an indication of the budget for this project so that they do not overbid and lose the deal. What is the most appropriate response?

Options:

Give the information to your friend

Tell your friend that after all this time, they should know you better than to think you had put your personal integrity on the line or compromise your job because of a conflict of interest. Decline

to give them the information.

Tell your friend you will give them the information if they will promise not to tell anyone and if they will agree to help you with some materials on your other project.

Give the information to your friend and inform the project sponsor so that the information can be shared with the other bidders as well

Questions 173

As a project manager, you know that the most important activity to ensure customer and stakeholder satisfaction is:

Options:

Documenting and meeting the requirements

Reporting project status regularly and in a timely manner

Documenting and meeting the performance measurements

Reporting changes and updating the project plan and other project documents where appropriate

Questions 174

Which of the following is output of Direct and Manage Project Execution ?

Options:

Change requests.

Responsibility assignment matrix

Work breakdown structure

Project character

Questions 175

Which is not true about change requests :

Options:

They always require additional funding.

They happen while the project work is being done.

They can be written or verbal.

They can be requested by a stakeholder.

Questions 176

You are in process of developing an approximation of the costs of resources needed to complete each schedule activity. Which of the following is the least helpful input?

Options:

WBS, WS dictionary

Market place conditions, commercial databases

Estimate Costs policies/ templates, historical information, project team knowledge

Activity cost estimates, activity cost estimate supporting detail

Questions 177

In the arrow diagramming method, which of the following requires an expenditure of the resources?

Options:

Histograms

Milestone events

Path activities

Accounting support costs.

Questions 178

Which organization has set the de facto standards for project management techniques?

Options:

PMBOK

PMI

PM0

PMA

Questions 179

The process to change a contract clause is _______ the project change control system.

Options:

Not related to

An input to

The same as

Integrated within

Questions 180

You are a project manager for a small local bank. The bank wants you to design and develop a custom online bill pay software so that its customers can pay their bills online. You are ready to begin the Activity Resource Estimation process for your project. Which of the following would you not consider when developing the activity resource requirements document?

Options:

Resource availability

Project management plan

Resource breakdown structure

Activity list