Question 357: You are carrying out the Contract Management and Change Control

processes required to develop and administer contracts for you project. What is this

PMBOK ® Guide knowledge area called?

A: Plan Procurement Management

B: Close Procurements

C: Project Integration Management

D: Project Procurement Management

Question 358: All of the following are examples of legally binding agreements

except?

A: Agreement

B: Subcontract

C: Organizational process assets

D: Purchase order

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Question 359: You are just about to begin the process of procuring services from

external providers and you think there may be a standard set of rules governing this

process. Where would it be BEST to look for these rules?

A: Lessons learned

B: Organizational Process Assets

C: The PMBOK® Guide

D: Your organization’s legal team

Question 360: You have completed the work described in the contract as per the
required specifications but the customer is complaining that the product is not what they

wanted. What is your BEST course of action?

A: Ask your project sponsor to clarify the scope of the project.

B: Restart the project and complete the work the way the

customer wants it.

C: Ask the customer to note their concerns in writing and

present them to your project team at the next team meeting.

D: Enter the Close Procurements process.

Question 361: Which of the following is not a term used to describe the buyer in a

contract?

A: Client

B: Entrepreneur

C: Service requestor

D: Prime contractor

Question 362: Which of the following is not a term used to describe the seller in a

contract?

A: Service provider

B: Vendor

C: Dealer

D: Contractor

Question 363: You and your project team are completing the process of producing

your procurement management plan and want to make sure that you have completed a

robust process and used all possible and appropriate inputs. Which of the following is not

an input into the work to plan procurement management on your project?

A: Requirements documentation

B: Activity resource requirements

C: Stakeholder register

D: Make-or-buy decisions
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Question 364: You are carrying out the procurement of services necessary for

your project. After consulting with your Organizational Process Assets, specifically the

procurement guidelines, which specify that you are to use the most commonly used

contract type, you offer the seller what type of contract?

A: Time and materials

B: Firm-fixed-price

C: Fixed-price-incentive-fee

D: Cost-plus-incentive-fee

Question 365: You discover that there is a part of the project that contains some risk.

Your strategy to deal with this risk is to subcontract the work to an outside supplier by

using a firm-fixed-price contract. Which of the following must you do?

A: You should assign a member of the project team to monitor

the activity of the supplier to make sure that the supplier deals

with the risk properly if it occurs.

B: You should make every effort to make sure that the supplier

is made aware of the risk after the contract is signed.

C: You should make certain that the project team does not

reveal the risk to the supplier until the contract is signed.

D: You should make sure that the supplier understands the

risk before the contract is signed.

Question 366: You are the project manager for a project that is well underway. You

are using a contractor that has agreed to a fixed-price contract that calls for a single, lump
sum payment on completion of the contract. The contractor’s project manager contacts

you and informs you that cash flow problems are making it difficult for the contractor to

pay employees and subcontractors. The contractor then asks you for a partial payment for

work accomplished to date. What is your best course of action?

A: Make no payments to the contractor until all the work is

completed as per the terms of the agreed contract.

B: Negotiate a change to the contract to allow payments to the

contractor.

C: Pay for work accomplished to date.

D: Start making partial payments to the contractor.

Question 367: Your organization is providing services to another organization as

part of a project. Which of the following contract types would your organization most

prefer to engage in to carry out the work?

A: Fixed-price-incentive-fee contract

B: Fixed-price with economic price adjustment

C: Firm-fixed-price

D: Cost-plus-incentive-fee