Question - 1

Why is an understanding of Finance and Business management a key skill for Facility Managers:

Select One

A)A Facility Manager who is unable to recognize Financial Pitfalls may incur unexpected expenses that could be detrimental to the bottom line.

B)All of the Statements

C)Facility Manager are entrusted with one of the most expensive assets of the organization real estate

D)A Lack of Financial expertise can hinder a facility manager's contribution to discussions involving departmental and organizational strategy

Question - 2

The CFO of the demand organization asks for a list of the items you track in your accounting system. Which Financial document is the CFO referring to

Select One

A)Balance Sheet

B)Capital Budget

C)Financial Statement

D)Chart of Accounts

Question - 3

Which tasks would facility manager complete_ as part of the planning activities?

Select One

A)Identifying methods to increase profits by improving energy efficiency

B)Educating Building occupants on best practices for conserving energy

C)Monitoring energy efficient programs to ensure that they are being carried out

D)Installing motion sensor light switches to provide immediate reduction in electricity expenses

Question - 4

Which statement about double-entry accounting is false

Select One

A)It does not require the total value of credit accounts and debit accounts to be equal

B)It looks at both the debit and credit side of the accounts

C)It ensures the journal is always balanced

D)It requires transactions to be recorded in at least two places

Question -13

What type of cost is the oil needed to maintain a large piece of equipment?

Select One

A)Indirect Cost

B)Oppurtunity Cost

C)Variable Cost

D)Fixed Cost

Question - 14

A Facility manager submits a request for building management to repair a broken window in their new space. What type of cost is this?

Select One

A)Direct Cost

B)Oppurtunity Cost

C)Indirect Cost

D)Fixed Cost

Question - 16

What is an appropriate practice when implement cost containment initiatives ?

Select One

A)Secure organization commitment before taking action

B)Use only industry proven best practices

C)All of the statements

D)Make sure actions are quantifiable and measurable

Question - 18

What information should not be included in a business case ?

Select One

A)An explanation of why the initiative is necessary and recommendation

B)Financial and non-financial analysis results

C)The key assumptions behind the initiative

D)A deadline for when the business case must be reviewed and approved or denied

Question - 22

Multiple suppliers bid on a contract for construction services. The suppliers qualification and experience will be assessed and they will be rated against a minimum passing score. Which is a logicial selection criterion

Select One

A)Lowest responsive Bid

B)Single Source

C)Evaluated Bid

D)Unique Service

Question - 24

A Facility Manager is negotiating a contractwith the owner of a construction company. They both agree that the facility manager will pay 20,000 USD for the services of the construction company. The facility manager and the sales representative from the construction company sign the contract. The construction company's legal team reviews the contract and declares it void. What is the most likely reason this contract was considered void?

Select One

A)The legal team did not think that the contract had a lawful purpose

B)There was no mutual agreement made between the facility manager and the construction company's legal team

C)The sales representative from the construction company did not have the authority to sign the contract

D)The cost of the services described in the contract was more that USD 20,000

Question - 25

A new piece of equipment requires special software for diagnostics and maintenance purposes. Once the software is purchased, it will not need to be purchased again. Which contract mechanism would most likely be used to procure this software?

Select One

A)One Time Purchase Order

B)Fixed Type Contract

C)National buy Contract

D)Blanket Purchase Order

Question - 26

What helps ensure the goal, constraints and terms and conditions outlined in a contract are monitored and accomplished?

Select One

A)Contract administration

B)Contract Closeout

C)Contract monitoring

D)Contract negotiations

Question - 27

A service contract includes the statement, " Bathrooms shall appear clean and soap shall be refilled before it is empty." What is the contract wordings called?

Select One

A)Prescriptive specification

B)Service Level Agreement

C)Performance specification

D)Service protocol

Question - 28

Which statement about key performance indicators (KPI) is false?

Select One

A)The facility manager must translate KPIs in to actionable steps for employees and service provider

B)The facility manager must ensure KPIs reflects the goals of the Organization

C)The facility manager must write KPIs clearly and concisely so they can be easily understood

D)The facility manager must develop KPIs that are quantifiable

Question - 29

Which of the following is a plausible measure to assess the overall performance of a service provider

Select One

A)Expenditure Limits

B)All of the Statement

C)Time related Targets

D)Conformance to regulations and standards