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1.  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
   

2.  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
   

3.  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
   

4.  You are the project manager of a business that sells software contracting services to Banks. Recently, Fourth National bank has requested you to submit a proposal for their mortgage project that has been published for the bid. They have also requested you to register the name of your business on the list of qualified sellers. Which of the following statement about qualified sellers list is true?

   A) Qualified sellers list is the list generated from procurement negotiations and represents an output of the conduct procurements process
   B) Qualified sellers list gives the listing of vendors who have been selected to perform the work with the organization and represents an input to the plan procurements process
   C) Qualified sellers list gives the listing of vendors who have been pre-selected for their past experience with the organization and represents an input to the conduct procurements process
   D) Qualified sellers list is the list generated out of bidder conferences and represents an output of the conduct procurements process
   

5.  Santa Rosa Valley Farms is conducting a project to install new packing equipment in one of its California farms. One month into the project, Santa Rosa Valley Farms conducts a review to determine how well the installer selected for this project is meeting goals for scope, quality, cost, and schedule. This is an example of ___________.

   A) A procurement performance review
   B) Capacity planning
   C) A project review meeting
   D) An audit