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1.  While sequencing activities for a project, the project management team of a project applied certain discretionary dependencies. This was based on their knowledge of best practices within the project application area. What is the potential risk involved in using such dependencies?

   A) They can create fixed float values and create external dependencies.
   B) They can create arbitrary float values and limit later scheduling options.
   C) They can create arbitrary float values and create external dependencies.
   D) They can create arbitrary float values and create mandatory dependencies
   

2.  Decision tree analysis is used to calculate the average outcome when the future includes scenarios that may or may not happen. What is the input and output in a decision node?

   A) Input: Cost of each decision Output: Probability of occurrence
   B) Input: Cost of each decision Output: Decision made
   C) Input: Scenario probability Output: Expected Monetary Value (EMV)
   D) Input: Cost of each decision Output: Payoff
   

3.  A number of identified risks occurred early in a project. As a result, most of the project objectives ended up in jeopardy. The project manager decided to present a case to management that the project be closed down. This is an example of:

   A) Risk Acceptance
   B) Risk Mitigation
   C) Risk Avoidance
   D) Risk Transfer
   

4.  The list of identified risks is found in the risk register whereas the high-level risks are listed in the:

   A) Scope statement
   B) Requirement document
   C) Project charter
   D) Risk management plan
   

5.   As part of a strategy to handle negative risk, a project manager decided to adopt less complex processes, conduct more tests and choose a more stable supplier. What strategy would this be classified as?

   A) Acceptance
   B) Transference
   C) Mitigation
   D) Avoidance