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You create a project contract with three funding sources. How many funding rules are created by default?

A.    2
B.    0

C.    1
D.    3

Answer: C

Based on which method do time and material projects create invoices?

A.    monthly payments
B.    predefined milestones in the project
C.    transactions posted to the project
D.    project phases

Answer: C

You set up a category group and a project category to post customer payment retention transactions. Which transaction type should you select?

A.    Expense
B.    Hour
C.    Fee
D.    Item

Answer: C

You set up project management and accounting validation parameters. You need to accept valid options that are not defined in the respective validation groups. Which option should you select for the project/category combination?

A.    Price
B.    Mandatory
C.    None
D.    Lookup
E.    Line amount

Answer: D

What is the purpose of the My Delegates feature?

A.    to designate a linked worker in another legal entity
B.    to designate multiple workers assigned to the same timesheet
C.    to designate a worker who may approve a timesheet on a worker’s behalf
D.    to designate a worker who may submit a timesheet on a worker’s behalf

Answer: D

Which statement about fee forecasts is true?

A.    Fee forecasts are included as part of the regular billing process.
B.    Fee forecasts apply only to fixed-price projects.
C.    Fee forecasts apply only to time and material projects.
D.    Fee forecasts can be used for unexpected costs.

Answer: C

Which three parameters are required when entering the hours forecast for a project? (Each correct answer presents part of the solution. Choose three.)

A.    category
B.    cost price
C.    activity
D.    number of hours
E.    funding source

Answer: ABD

Changing the Project group item may also change which other project field?

A.    Project stage
B.    Project ID
C.    Parent project
D.    Project type

Answer: D

Which statement about funding sources is true?

A.    A project contract must have one and only one funding source.
B.    Funding sources must be created when the project contract is created and cannot be added later.
C.    A project contract must have at least one funding source.
D.    Funding sources can be created at any time during a project and will apply retroactively.
E.    A project contract does not have to have a funding source.

Answer: C

Your company negotiates a project contract worth 120,000 USD with a customer. To maintain an acceptable profit margin, the budget for the project is set at 85,000 USD. The project manager wants to manage the project as three related subprojects, so you divide the total budget into 25,000 USD, 40,000 USD, and 20,000 USD. When you create the root project, you create the original budget and submit the budget to workflow for approval. How should you manage the budgeting for the entire project hierarchy?

A.    Manage the budgeting only at the subproject level in the project hierarchy.
B.    Manage the budgeting as a single unit for the entire project hierarchy.
C.    Manage the budgeting separately for each project type in the project hierarchy.
D.    Manage the budgeting separately for each subproject in the project hierarchy.

Answer: B

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