Question 1 (5 points)

Which of the following statements is true?

Question 1 options:

	Sprint costs are basically the personnel costs of the agile team over the length of the anticipated sprint
	EVM cannot be used on a project with an agile development life cycle.
	A project with a predictive development life cycle cannot have agile elements.
	There is only one agile methodology.

Question 2 (5 points)

Which WBS elements should be assigned resources?

Question 2 options:

	All work packages
	All WBS elements.
	All elements at the X.X level, (e.g., 1.1, 1.2, etc.).
	All elements at the X.X.X.X level (e.g. 1.1.1.1, 1.1.2.1, etc.).

Question 3 (5 points)

A negative result from a Cost Variance (CV) calculation means which of the following:

Question 3 options:

	AC is higher than EV.
	PV = 1.
	EV is higher than AC.
	EV is higher than PV.

Question 4 (5 points)

Your project has an activity with a budget of $1,000 and a percent complete with gates earned value (EV) accrual rule. The activity has 5 equally valued gates (milestones). One of these gates is complete and the activity owner estimates 50% of the second gate is complete as of your EVM analysis date. What is EV as of the analysis date?

Question 4 options:

	$300.00
	$200.00
	$325.00
	$275.00

Question 5 (5 points)

Which of the following is displayed as an S-curve?

Question 5 options:

	Funding requirements.
	Cost baseline.
	Cost estimates.
	Expenditures to date.

Question 6 (5 points)

Your company has appointed you the project manager for its new product line introduction. The product line involves three products, two of which will be introduced together and a third one that will follow within two years. You are ready to create the WBS. All of the following statements are true except:

Question 6 options:

	The WBS may be structured using each product as a level one entry.
	The WBS should be elaborated to a level where costs and schedule are easily estimated. This is known as the work package level.
	Each level of the WBS represents verifiable products or results.

Question 7 (5 points

True or False: The difference between the cost baseline and the performance measurement baseline is: The cost baseline is the approved time-phased budget for the project showing all project costs except management reserves. When using earned value management, the cost baseline along with the scope and schedule baselines, become the performance measurement baseline point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement.

Question 7 options:

	TRUE
	FALSE

Question 8 (5 points)

With respect to the process for developing a cost baseline, all of the following statements are true except:

Question 8 options:

	This process assigns cost estimates for expected future operating costs
	The cost baseline is the time-phased budget at completion for the project
	This process aggregates the estimated costs of project activities
	The cost baseline will be used to measure variances and future project performance

Question 9 (5 points

All of the following statements are true, except:

Question 9 options:

	Products/outcomes are always listed at the top level of the WBS
	WBS is created using a technique called decomposition.
	Decomposition divides products/outcomes into smaller components until the work package level is reached.
	Decomposition requires a degree of expert judgment and also requires a close analysis of the project scope statement.

Question 10 (5 point

True or False: A cost account (or control account or control account plan) is a management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement.

Question 10 options:

	TRUE
	FALSE

Question 11 (5 points)

As the project finance manager, you have given the project manager a numbering system to assign to the WBS for a new project. Which of the following is true?

Question 11 options:

	The numbering system is a unique identifier known as the WBS dictionary, which is used to assign quality control codes to the individual work elements.
	The numbering system is a unique identifier known as the WBS dictionary, which is used to track the descriptions of individual work elements.
	The numbering system is a unique identifier known as the code of accounts, which is used to track time and resource assignments for individual work elements.
	The numbering system is a unique identifier known as the code of accounts, which is used to track the costs of the WBS elements.