Reference no: EM133549925

Question 1

Project Manager Amy Sue's old college roommate owns a company, Services R Us, which sells the services that Amy Sue needs for her project. Amy Sue decides to include Services R Us as a prospective seller for her project's procurement requirements. Amy Sue is doing this as a favor to her old roommate, has no intention of awarding the business to Services R Us, and has no financial interest in Services R Us. Is Amy's decision violating PMI's Code of Ethics and Professional Conduct?

A. No, because Amy Sue has no financial interest in the old roommate's company Amy Sue's decision is therefore not an actual conflict of interest under PMI's Code of Ethics and Professional Conduct.

B. Yes, while there may not be an actual conflict of interest, PMI's Code of Ethics and Professional Conduct consider an appearance of a conflict of interest as a violation.

C. No, because Amy Sue does not intend on awarding the business to the old roommates company.

D. Yes, because despite Amy Sue's intentions, she probably will select Services R Us as the seller.

Question 2

A procurement manager is closing out a seller contract. Which of the following documents will she need for closure of the contract?

A. Change requests.

B. Documents that describe the product of the project.

C. Documents that describe the project status.

D. Trend analyses.

E. None of the above.

Question 3

A contract between buyer and seller specifies that a seller must pay $1,000 per day if the seller fails to deliver the materials according to the project schedule. What form of contract remedy is the seller agreeing to here?

A. Liquidated Damages.

B. Bond.

C. Equitable Relief.

D. Remedial Payment.

Question 4

Project Manager Michelle is purchasing 100 laptops and 20 desktop computers for her project, and the delivery of the computers is time-critical. She would like to provide an incentive to the seller for the timely delivery of the computers. Paula and her procurement partner have agreed that the selected seller will be paid the cost of the computers plus a 10% fee. Which contract type is being used in this case?

A. Cost plus a percentage of cost contract

B. T&M with incentive

C. Cost plus a fixed fee

D. Fixed Cost.

Question 5

Which of the following is a true statement concerning evaluation criterion that may be found in an RFP?

A. They can often be found in a Procurement Document.

B. They can be objective or subjective.

C. They may be limited to purchase price if the product, service, or result is readily available from a significant number of sellers.

D. None of the above.

E. All of the above.