13 Which of the following is not part of the acquisition process:
A source selection
B invitation to bid
C contract award
D notice to proceed
E All of the above are parts of the acquisition process.
ans:D
14 Management reserve is generally intended to be used to:
A implement additional unbudgeted scope
B compensate for inaccurate estimates
C cover major unforeseen catastrophes
D cover unforeseen problems in the project
E All of the above.
ans:D
15 Which of the following is an element of procurement management:
A inspection
B purchasing
C estimating
D expediting
E A, B and D only
ans:E
16 Which of the following types of contracts is equivalent to a cost plus contract:
A Fixed firm price
B Cost reimbursable
C Fixed price plus incentive fee
D progress payments
E All of the above.
ans:B
17 Which of the following are part of the purchasing cycle:
A define need
B prepare and issue purchase order
C inspect incoming goods
D All of the above.
E A and B only
ans:E
18 Standard of purchased material:
A Simplifies inventory control
B reduces the risk of obsolescence
C reduces cost of purchasing and storage
D All of the above.
E A and C only.
ans:E
19 Which contract type consists of - target costs & profit, ceiling prices and shared ratio of risk?
A Cost Plus Incentive Fee
B Cost Plus Percentage of Costs
C Cost Plus Fixed Fee
D Firm Fixed Price
E Firm Fixed Price Plus Incentive
ans:E
20 Which type of contract requires that the buyer keep the tightest labor/material cost control?
A Cost Plus Incentive Fee
B Cost Plus Percentage of Costs
C Cost Plus Fixed Fee
D Firm Fixed Price
E Firm Fixed Price Plus Incentive
ans:B
21 Cost Plus Percentage of Cost contracts are more desirable for the:
A owner
B buyer
C seller
D contractor
E C or D
ans:E
22 Fixed Price contracts place more risk on the:
A owner
B buyer
C seller
D contractor
E C or D
ans:E

ÉÏÒ»Ò³12ÏÂÒ»Ò³