QUESTION 11

1. With a Cost Plus Incentive Fee (CPIF) contract (choose everything that applies)

   		the contractor can earn a larger profit by reducing costs
   		is not really a cost-reimbursable contract
   		the price is periodically adjusted to allow for changes in materials, labor, or overhead costs
   		the incentive is to come at or below the target cost
   		the customer can pay a lower price if the contractor can reduce costs

QUESTION 12

1. The project manager and project sponsor are discussing the project costs and whether it is better to have their own company do part of the project or hire another company to do the work.

   If they asked for your opinion, you might say it would be better to do the work yourself if:

   		There is a lot of proprietary data.
   		You have the expertise but you do not have the available manpower.
   		You do not need control over the work.
   		Your company resources are limited.

QUESTION 13

1. Is the following statement True or False: The schedule for procured items can be created independently of the project schedule.

   True

   False

QUESTION 14

1. With a Firm Fixed Price Contract (FFP) (choose everything that applies)

   		the customer assumes the risk of cost overruns
   		the price to the customer remains the same
   		the contractor is assured of being reimbursed for all allowable expenses
   		contractor risks underestimating the cost and losing money on the project
   		cutting-corners to reduce costs is a potential risk

QUESTION 15

1. Your project has just been fast tracked and you are looking to quickly bring in a subcontractor to complete networking. There is no time to issue a request for proposal (RFP), so you choose to use a company you have used many times before for software development (i.e. single source procurement approach followed).

   A PRIMARY concern in this situation is:

   		The subcontractors qualifications
   		Collusion between subcontractors
   		The subcontractor's evaluation criteria
   		Holding a bidder conference

QUESTION 16

1. Which of the following contracts is most risky to the customer?

   		Cost Plus Fixed Fee
   		Firm Fixed Price
   		Cost Plus Percentage Fee
   		Guaranteed Maximum Price

QUESTION 17

1. With which type of contract is the seller/contractor MOST concerned about project scope?

   		Purchase Order
   		TIme and Material
   		Fixed Price
   		Cost Plus Fixed Fee

QUESTION 18

1. A legal tie can only create a unilateral obligation

   True

   False

QUESTION 19

1. The requirements for a valid contract are:

   		Contractual Capacity, Consensus, Legality, Lawfulness, Warranties
   		Consensus, Contractual capacity, Legality, Physical possibility, Formalities
   		Consensus, Legal capacity, Legality, Formalities, Guarantees
   		Reciprocal obligation, Legal capacity, Legality, Consensus, Formalities

QUESTION 20

1. The contents of a contract can consists of (choose all that applies):

   		Naturalia
   		Incidentalia
   		Contractalia
   		Essentialia
   		Specialia

PLEASE ANSWER TIMEOUSLY