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1.  A project manager included contingency reserves and management reserves in the total budget of a high-risk project. He also made certain earned value measurement calculations. Which of the following is incorrect?

   A) Reserves are included as part of earned value measurement calculations.
   B) Reserves are not part of the project cost baseline.
   C) The project manager needs to get approval before spending management reserve.
   D) Reserves are usually included in the total budget of a project.
   

2.  Risk identification checklists are usually developed based on historical information and knowledge accumulated from previous similar projects. Which of the following statements about risk identification checklists is wrong?

   A) It is impossible to build an exhaustive checklist.
   B) The lowest level of the Risk Breakdown Structure (RBS) cannot be used as a risk checklist
   C) Quick and simple risk checklists are the least effective ones.
   D) Risk checklists should be reviewed during project closure.
   

3.  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
   

4.   You are the project manager of a project and are about to conduct a risk identification exercise in a few days' time. You would like to proactively remind the participants in the exercise of the various sources from which risk may arise in the project. What could you use to help you do this?

   A) A Risk Breakdown Structure (RBS)
   B) A Risk Simulation Structure (RSS)
   C) A Risk Register
   D) An Impact Matrix
   

5.   Identification of new risks, reassessment of old risks and closing of outdated risks are done as part of the Monitor and Control Risks phase. How often should project risk reassessment be scheduled?

   A) It depends on how the project progresses relative to its objectives.
   B) It is left to the discretion of the project manager.
   C) Reassessment needs to be done at the 25%, 50%, and 75% stages of project completion.
   D) Reassessment needs to be done at the 20%, 40%, 60% and 80% stages of project completion.