CAPM Practice Test Questions with Verified Answers

CAPM Practice Test Questions with Verified Answers A. Determine budget CM 7.13; PMBOK 7.3 - CORRECT ANSWER The project manager and her team are involved in establishing the cost of the project and applying them to the schedule in order to determine when these cost will occur. During the project during which process does this occur? D. initiating, planning, executing, monitoring and controlling, closing (IPEM&CC) CM 3.3.1; PMBOK 1.5.1 - CORRECT ANSWER During project performance, the team will focus on the Project Life Cycle and the project management life cycle. What are the five phases of a project management life cycle (PMLC)? A. Risk Seeker CM 11.2.7; PMBOK 11 INTRO - CORRECT ANSWER The project manager is considering quitting his job to develop a book and supporting products for the project management professional exam, and idea he created outside his job. If it sells well, he plans to start his own company and sell the products full-time. What characteristics is he showing towards risk? D. all of the above (Interactive, Push, Pull) CM 10.3.5; PMBOK 10.1.2.4 - CORRECT ANSWER Which of the following communication methods should be applied to managing project engagement? B. Analogous estimating CM 6.4.2; PMBOK 7.2.2.2 - CORRECT ANSWER The planning is progressing on schedule for the hotel renovation project. The project manager and the team are ready to begin estimating cost. Since the customer needs an estimate as soon as possible, what estimating methods should the team use? C. Sunk Cost CM 7.5; PMBOK NO REF - CORRECT ANSWER You are a project manager assigned to a project that has spent $4,000,000. The original budget was $1,500,000. Senior Management is considering stopping this project. What term describes the $1,500,000 that has been spent so far?