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5. The procurement processes are completed for each item within the project that is purchased or
acquired. True or False?
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8. Fixed Price, or Lump Sum Contracts, are meant for which types of purchases?
9. Which contract type involves reimbursement to the seller for the sellers actual costs, plus an
additional amount?
A. Fixed Price / Lump Sum Contracts
B. Cost-Reimbursable Contracts
C. Time & Material Contracts
10. Which contract type may include an adjustment increase for lengthy contracts to account for
economic changes?
A. Fixed Price / Lump Sum Contracts
B. Cost-Reimbursable Contracts
C. Time & Material Contracts
11. Which contract type is based on a per-hour or per-unit cost that is agreed upon, but is open
ended?
A. Fixed Price / Lump Sum Contracts
B. Cost-Reimbursable Contracts
C. Time & Material Contracts
12. Which contract type is typically used when buyer can describe the work, but not how to go
about the work.
A. Fixed Price / Lump Sum Contracts
B. Cost-Reimbursable Contracts
C. Time & Material Contracts
13. Which contract type is the most common type used globally?
A. Fixed Price / Lump Sum Contracts
B. Cost-Reimbursable Contracts
C. Time & Material Contracts
14. Describe the following sub-types of Cost-Reimbursable Contracts:
Cost-Plus-Fee / Cost-Plus-Percentage of Cost:
Cost-Plus-Fixed-Fee:
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16. The Procurement Management Plan, an output of this process, contains several items. Name
at least three:
1.
2.
3.
17. What does the Contract Statement of Work define?
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5. Several items are utilized from within the Project Management Plan within the Plan Contracting
process. Name at least two:
1.
2.
6. Standard Forms, a tool of the Plan Contracting process, includes all the
_____________________, _____________________, and _____________________.
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11. Evaluation criteria used by the seller to evaluate buyers can be subjective, objective, or both?
12. Name at least two examples of actual evaluation criteria that can be used:
1.
2.
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10. There are several ways to develop a Qualified Sellers List. What are some sources a buyer
may utilize?
13. Proposals are considered an informal offer from the seller to the buyer. True or False?
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5. What is the Contract Change Control System, and what items does it address?
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11. This process results in updates to the Organizational Process Assets. What are the three items
included within the updates?
1.
2.
3.
12. Which of the following includes reviews of sellers work progress?
A. Claims Administration
B. Contract Change Control System
C. Buyer-Conducted Performance Reviews
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7. What process group does the Contract Closure process belong to?
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