PMP Practice Exam 1 Question and Answers 2023 & 2024 Already Graded A+

PMP Practice Exam 1 Question and Answers 2023 & 2024 Already Graded A+
PMP Practice Exam 1 Question and Answers 2023 & 2024

Project G will cost 400,000 and is expected to earn $550,000? In the first year. What is the benefit-cost ratio for this project? -
Ans $550,000 / $400,000 = 1.38.

How many knowledge areas are in the PMBOK and what are they? -
Ans 10, Project integration management, Project scope management, Project schedule management, Project cost management, Project quality management, Project resource management, Project communications management, Project Risk Management, Project Procurement management, Project stakeholder management

How many PDU's from each section of the PMI Talent Triangle do you need to recertify? -
Ans8 PDU's in each of the Triangle domains: Technical Training, Leadership Training, and Strategic Training.

Jesse is building a new smartphone application and hopes to have it in the marketplace by November. His anticipated income from this app for next year is $30,000? If the current interest rate is 4 percent, what can Jesse expect that $30,000 to be worth in today's dollars? -
Ans $30,000/1.04 = $28,846.15

Your project will cost $80,000. The finance department estimates revenues the next three years to be: $20,000, $35,000, and $66,000. If the current interest rate is 5 percent, what is the estimated NPV for your project? -
Ans Year 1: $20,000 / 1.05 = $19,047.62; Year 2: $35,000 / 1.10 = $31,818.18; Year 3: $66,000 / 1.16 = $56, 896.55; Total Cash Inflows: $19,047.62+$31,818.18+$56, 896.55 = $107,762.35; $107,762.35 - $80,000 = $27,762.35. NPV=(Cashflows)/(1+r)^t

Project P has an NPV of $150,000; Project Q has an NPV of $75,000. If you choose to work Project P, what is the opportunity cost of not choosing Project Q? -
Ans $75,000

Steve is considering borrowing $150,000 to fund a project to build a new pole barn for his construction company. If Steve borrows the money at 5 percent interest over five years, what is the minimum his project should be worth at the end of five years for this to be a good investment? -
Ans 150000(1.05)^5 = $191,442.23

Andrew, the project manager of FGH project, is working on estimating the cost of activity X in his project. The activity might take anywhere between $75,000 and $125,000 based on the best-case and worst-case scenarios respectively. Rick, the senior most member of the team, tells Andrew that the activity will most likely cost $100,000. What is the expected cost of activity X as per Beta distribution? -
Ans $100,000 Expected cost (cE) of an activity based on the Beta distribution can be calculated using the formula cE = (cO + 4cM + cP) / 6 where cO is the optimistic cost, cP is the pessimistic cost and cM is the most likely cost of the activity

A project comprises of activities A, B, C and D. The longest path includes activities A, C, and D which take two days, ten days and 20 days respectively. Activity B, on the other hand, takes eight days to complete. If activity D takes two extra days to complete, what is the shortest possible project duration? -
Ans The critical path for this project is A-C-D, and it, therefore, determines the shortest possible project duration as 2+10+20 = 32 days. As D needs two more days to complete, 32+2 = 34 days becomes the new project duration.

Robert has an MBA, a few years of PM experience at his company and just completed a PMP Exam Prep course. Which options best describes the qualification(s) he needs to apply for the PMP Exam: -
Ans With a college degree, candidates may apply for the PMP exam with 4,500 hours of experience leading project tasks and 36 months of non-overlapping months of project management experience within the last 8 years

Elizabeth is working to justify her project and has chosen payback periods as the method of showing value. Her project is expected to cost $100,000 and save the company $18,000 a quarter. How long will it take this project to payback? -
Ans 100000/18000 = 5.55 quarters

Priscilla, project manager of the OFF project, is working on the project charter. She wants to know if the project charter is considered to be a contract, and approaches you with this question. What would be your best answer to her question? -
Ans A project charter is not a considered to be a contract because there is no consideration or money promised or exchanged in its creation

What does performance data primarily deal with? -
Ans Raw Data and Facts of your project