Questions 21-40

21) The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost.is called:
A. Cost variance
B. Actual cost
C. Variance at completion
D. Budget at completion

22) The amount by which the project is ahead or behind the planned delivery date, at a given point in time, expressed as the difference between the earned value and the planned value is called:
A. Cost variance
B. Actual cost
C. Variance at completion
D. Schedule variance

23) The value of the work planned to be completed to a point in time, usually the data date, or project completion is called:
A. Cost variance
B. Actual cost
C. Earned value
D. Planned value

24) The planned value of all the work completed (earned) to a point in time, usually the data date, without reference to actual costs is called: 
A. Cost variance
B. Actual cost
C. Earned value
D. Planned value

25) The realized cost incurred for the work performed on an activity during a specific time period is called:
A. Cost variance
B. Actual cost
C. Earned value
D. Planned value

26) The value of total planned work, the project cost baseline is called:
A. Budget at completion
B. Actual cost
C. Earned value
D. Planned value

27) The estimated difference in cost at the completion of the project is called:
A. Budget at completion
B. Actual cost
C. Earned value
D. Variance at completion

28) A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost is called:
A. Budget at completion
B. Actual cost
C. Cost variance
D. Cost performance index

29) A measure of schedule efficiency expressed as the ratio of earned value to planned value is called:
A. Budget at completion
B. Actual cost
C. Schedule variance
D. Schedule performance index

30) The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete is called:
A. Budget at completion
B. Actual cost
C. To complete performance index
D. Estimate at completion

31) The expected cost to finish all the remaining project work is called:
A. Budget at completion
B. Estimate at completion
C. To complete performance index
D. Estimate to complete

32) A measure of the cost performance that must be achieved with the remaining resources in order to meet a specified management goal, expressed as the ratio of the cost to finish the outstanding work to the budget available is called:
A. Budget at completion
B. Estimate at completion
C. To complete performance index
D. Estimate to complete

33) The actual cost of your project is $100,000 and the earned value is $105,000. The cost variance is:
A. -$5000
B. 1.05 
C. $5000
D. 0.95

34) The earned value of your project is $105,000 and the planned value is $100,000. The schedule variance is:
A. -$5000
B. 1.05 
C. $5000
D. 0.95

35) The budget at completion is $100,000 and the estimate at completion is $105,000. What is the variance at completion?
A. -$5000
B. 1.05 
C. $5000
D. 0.95

36) The actual cost of your project is $100,000, planned value is $90,000 and the earned value is $105,000. The cost performance index is:
A. 0.85
B. 1.05 
C. 1.16
D. 0.95

37) The actual cost of your project is $100,000, planned value is $90,000 and the earned value is $105,000. The schedule performance index is:

A. 0.85
B. 1.05 
C. 1.166
D. 0.95

38) The budget at completion for your project is $100,000 and the CPI is 1.16. What is the Estimate at completion? Assume that the CPI is expected to be the same for the remainder of the project.
A. $85,000
B. $90,000 
C. $86,206.89
D.$ 86,000

39) The budget at completion for your project is $100,000 and the actual cost is $105,000. The earned value is $100,000. What is the Estimate at completion? Assume that future work will be accomplished at planned rate.
A. $100,000
B. $90,000 
C. $105,000
D. $ 86,000

40) If the initial plan is no longer valid, estimate at completion is calculated as:
A. EAC = BAC/CPI
B. EAC = AC + BAC – EV
C. EAC = AC + Bottom-up ETC
D. EAC = AC + [(BAC – EV)/(CPI x SPI)]

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