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1.  The administration team for a buyer is drafting up a contract to award work to an external supplier. They would include verbiage that the contract can be terminated for all of the following reasons except:

   A) For cause
   B) For default
   C) For convenience
   D) For the purpose of the court
   

2.  Many organizations favor fixed-price contracts because the performance of the project is the responsibility of the seller. Which of the following is the characteristic of a firm fixed price contract?

   A) The buyer must precisely specify the number of resources to be used for procurement
   B) The buyer must precisely specify the service or product to be procured
   C) The buyer must precisely specify the time for completing the contract
   D) The buyer must precisely specify the price of the contract
   

3.  Contractual agreements with unions or other employee groups can require certain roles or reporting relationships. This is an example of:

   A) A gating mechanism.
   B) Mandated Resource planning
   C) A constraint that limits the HR planning process.
   D) Politics
   

4.  Rosanne is an experienced project manager working for a pharmaceutical project. This project involves two big vendors to supply chemical products with specific composition for preparing drugs. While reviewing documents to see how the seller is performing, she noticed that some of the contractual terms were not met by the sellers. Since it is first time violation, she would like to initiate a corrective action to bring the performance of the seller consistent with the statement of work. Which of the following are NOT outputs of Rosanne's effort?

   A) Work performance information and Approved change requests
   B) Procurement documentation and Seller performance evaluation documentation
   C) Procurement documentation and Organizational process assets update
   D) Change requests and Project management plan updates
   

5.  For many procurement items, the procuring organization can either prepare its own independent estimates or have an estimate of costs prepared by an outside professional estimator. This estimate serves as a:

   A) Potential-cost estimate
   B) Expected-cost estimate
   C) Benchmark estimate
   D) Must-cost estimate