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Free Pmp Exam Sample Question

#1 User is offline   Cornelius Fichtner 

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Posted 13 June 2012 - 02:40 AM

The following PMP® exam sample question is taken from the Free PMP Exam Simulator at http://free.pm-exam-simulator.com - The answer is at the very bottom:

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Joe is working as a project manager in a highway construction project. He wants to use a fixed price contract instead of cost-plus contract. The risk response strategy he is using in this case is an example of?

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

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Hint: The project manager in this example is currently performing the Conduct Procurements process but the answer is in the Plan Risk Responses process.
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All our questions are updated to the latest PMBOK® Guide standard. Stop by at http://free.pm-exam-simulator.com and try the PMP Exam Simulator free for 3 days. We also offer 110 free questions at http://www.free-pm-exam-questions.com. We are a PMI Registered Education Provider.

Until next time,
Cornelius Fichtner, PMP
President, OSP International LLC
The Project Management PrepCast™ - http://www.project-m...nt-prepcast.com
The Project Management Podcast™ - http://www.project-m...ent-podcast.com

ANSWER AND EXPLANATION:
The correct answer is B
Explanation: Risk Transference requires shifting some or all of the negative impact of a threat, along with the ownership of the response. A fixed price contract may transfer risk to the seller, whereas a cost-plus contract may transfer cost risk to the buyer.
Reference: PMBOK Guide 4th Edition, page 304

This post has been edited by Cornelius Fichtner: 13 June 2012 - 02:45 AM

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