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Guide for Certified Professional Contracts Manager

Quiz Certified Professional Contracts Manager

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/ 10

Quiz

1/10
The solicitation specifications and statement of work contain:
Select the answer
1 correct answer
A.
Administrative requirements
B.
Technical requirements
C.
Company policy
D.
Pricing contracts

Quiz

2/10
The range between the extremes of an optimistic and pessimistic prediction about future costs is
called range of:
Select the answer
1 correct answer
A.
Possible costs
B.
Final costs
C.
Scope costs
D.
Limit costs

Quiz

3/10
The risk avoiding buyer wants to minimize the risk of agreeing to a higher price than necessary to
cover the buyer’s costs plus a reasonable profit.
Select the answer
1 correct answer
A.
True
B.
False

Quiz

4/10
Who avoid the risk of agreeing to the price that may not cover its actual performance costs or allow a
reasonable profit?
Select the answer
1 correct answer
A.
Risk avoiding buyer
B.
Business professional
C.
Risk avoiding seller
D.
Technical personnel

Quiz

5/10
Occur when the work has not changed, but it costs more than anticipated.
Select the answer
1 correct answer
A.
Cost Growth
B.
Unpredictable cost
C.
Extra cost
D.
Cost overruns

Quiz

6/10
The pricing arrangements fall into which of the following categories:
Select the answer
1 correct answer
A.
Fixed-price
B.
cost-reimbursement
C.
Time-and-material contracts
D.
All of the above

Quiz

7/10
A pre-contract agreement that merely communicates any agreed-to terms and conditions that will
apply when an order is placed by the buyer is known as:
Select the answer
1 correct answer
A.
Macro agreement
B.
Universal agreement
C.
Fixed agreement
D.
Approved agreement

Quiz

8/10
What clause can provide for price increases based on the seller’s costs but not on the seller’s
decision to increase the prices of its products and services?
Select the answer
1 correct answer
A.
Economic price adjustment
B.
Variable-price adjustment
C.
Prices & Taxes adjustment
D.
Appropriate price adjustment

Quiz

9/10
Governments commonly use what type of contracts when contracting with universities and non-
profit organizations for research projects?
Select the answer
1 correct answer
A.
Written contracts
B.
Variable contracts
C.
Cost reimbursement contracts
D.
Cost sharing contracts

Quiz

10/10
The cost-plus-a-percentage-of-cost contract provides for the seller to receive reimbursement for its
actual cost and a profit component, called , equal to some predetermined percentage of
its actual costs.
Select the answer
1 correct answer
A.
fee
B.
statement
C.
penalty
D.
None of the above
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Info quiz:

  • Quiz name:Certified Professional Contracts Manager
  • Total number of questions:144
  • Number of questions for the test:50
  • Pass score:80%

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