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Study Guide Cost Practice Exam

Activity A is worth $200, is 100% complete, should have been done on day one, and actually cost $200. Activity B is worth $75, is 90% complete, should have been done on day two, and actually cost $120 so far. Activity C is worth $200, is 75% complete and should have been done on day three, and has cost $175 so far. The total budget is $1,000. What is the planned value as of day two?
Select one:
a. $495.00
b. -$275.00
c. -$417.50
d. $275.00 Correct

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Question 2

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Company-wide server upgrades are an example of what type of project cost?
Select one:
a. Variable indirect Correct
b. Variable
c. Fixed
d. Fixed direct

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Question 3

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Project A has an NPV of $150K over three years. Project B has an NPV of $330K over six years. Project C has an NPV of $170K over six years. Which of the following do you select?
Select one:
a. Project A and C
b. Project A
c. Project C
d. Project B Correct

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Question 4

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Project A has an NPV of $275K over 2.5 years. Project B has an IRR of 3.2%. Project C has a BCR of 0.89:1. Project D has four people on it and is encountering scope creep. Which of the following projects stand the greatest chance of getting canceled?
Select one:
a. Project D
b. Project A
c. Project C Correct
d. Project B

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Question 5

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The BCR project comparison function utilizes what variable(s)?
Select one:
a. Revenue and cost Correct
b. Benefit and profit
c. Revenue and profit
d. Profit margin

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Question 6

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The highway project is in the middle of planning when the project manager presents a status reporting method to the team. The team members haven’t heard of this method before. It’s called earned value. To attain buy-in from the team, the project manager begins to explain what earned value status reporting can do for the project, explaining that it will measure which of the following?
Select one:
a. Scope, schedule, and cost Correct
b. Scope and cost
c. Scope and schedule
d. Schedule and cost

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Question 7

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The infrastructure project is behind schedule and over budget. So far, $3M has been spent on the project. The sponsor is considering if it should allow the project to continue. What should he consider the $3M that has been spent so far?
Select one:
a. The amount for phase one
b. The budgeted cost of work performed
c. Opportunity cost
d. Sunk cost Correct

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Question 8

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The planning process group is progressing. The team has involved a number of expert opinions in trying to approximate the costs needed to complete project activities. This process is known as?
Select one:
c. Analogous estimating

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Question 9

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The project is using a new server that cost $25,000. The project manager is told to set up depreciation for the server over a five-year schedule, with the server having a value of $0 at the end of five years. Standard depreciation will be used in the calculation. What is the amount per year the server will depreciate?
Select one:
a. $2,500
b. Not enough information
c. $5,000 Correct
d. $10,000

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Question 10

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The project is using some application and database servers in the development environment. The finance department explains that the servers will be depreciated using the double declining balance (DDB) format. This is an example of what?
Select one:
a. Fixed direct cost
b. Accelerated depreciation Correct
c. Fixed cost
d. Standard depreciation

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Question 11

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The project management team has performed earned value analysis on its project and discovered that the project is behind schedule and over budget. The SPI is 0.82 and the CPI is 0.73. The team is trying to determine how efficient it needs to be with the remaining resources to complete the project on budget. Which of the following is the team trying to calculate?
Select one:
a. To-complete performance index Correct
b. Estimate to complete
c. Cost performance index
d. Cost variance

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Question 12

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The project planning process group is progressing. The team has involved the accounting department to set up a system of codes that the accounting department will use to track work on the project. This is known as what?
Select one:
a. Chart of accounts Correct
b. WBS numbering
c. Accounting codes

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Question 13

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The project team is developing rules for reporting updates on the project. The majority of the activities are greater than two reporting periods long. Which format is best to use in this case?
Select one:
a. Forecast reporting
b. Fixed formula progress reporting
c. Earned value
d. Weighted milestone Correct

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Question 14

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The project team is developing rules for reporting updates on the project. The majority of their activities are less than two reporting periods long. Which format is best to use in this case?
Select one:
a. Weighted milestone
b. Earned value
c. Fixed formula progress reporting Correct
d. Forecast reporting

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Question 15

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The project team is planning an upgrade to a client’s website and infrastructure. During planning, the team discovers the need for a data communications line to connect to the servers. What type of cost is this?
Select one:
a. Indirect fixed
b. Indirect
c. Variable
d. Direct Correct

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Question 16

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The project team is planning an upgrade to a client’s website and infrastructure. During planning, the team members are confronted with the cost options for a data communications line to connect to the servers. They consider the cost of purchasing the communication line for the time they need to develop the project. After that, the customer takes over the purchase of the line. They are also considering a long-term commitment that the customer can make with the communication line provider, which provides a less costly solution over the use of the system. What type of analysis is the team considering?
Select one:
a. Fixed cost
b. Make-or-buy analysis
c. Life cycle costing Correct
d. Procurement planning

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Question 17

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What is the range of a rough order of magnitude (ROM) estimate?
Select one:
a. -25% to +75% Correct
b. -300% to +75%
c. -5% to +10%
d. -10% to +10%

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Question 18

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Which of the following is an example of fixed formula status reporting?
Select one:
a. PV multiplied by % complete
b. The project manager updating the status reports quantitatively
c. Getting status updates from the project team
d. 30%/70% rule Correct

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Question 19

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Which of the following metrics tells you if you are ahead of schedule?
Select one:
a. Cost performance index (CPI)
b. Cost variance (CV)
c. Schedule performance index (SPI) Correct
d. Budget at completion (BAC)

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Question 20

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Which of the following shows the rate at which the project is progressing compared to what was planned?
Select one:
a. Schedule performance index Correct
b. Gantt chart
c. Schedule variance
d. Variance report

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Question 21

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Which of the following shows the remaining amount to be spent on the project based on current spending efficiency?
Select one:
a. Estimate at completion
b. Estimate to complete Correct
c. Budget remaining
d. Cost variance

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Question 22

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Which process aggregates estimated costs from the individual work packages or activities to create a summary and detailed breakdown of project costs?
Select one:
b. Earned value management

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Question 23

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You are having a home theater room added to your house. The project should take five days and cost $1,500 per day to complete. After three days, the project is 30% complete and $5,000 has been spent. What is the CPI?
Select one:
a. 0.40
b. 0.50
c. 0.45 Correct
d. 1.00

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Question 24

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You are having a home theater room added to your house. The project should take five days and cost $1,500 per day to complete. After three days, the project is 30% complete and $5,000 has been spent. What is the total value of the project?
Select one:
a. $2,250
b. $5,000
c. $10,000
d. $7,500 Correct

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Question 25

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You are having a home theater room added to your house. The project should take five days and cost $1,500 per day to complete. After three days, the project is 30% complete and $5,000 has been spent. What is the EV?
Select one:
a. $10,000
b. $7,500
c. $2,250 Correct
d. $5,000

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Question 26

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You are having a home theater room added to your house. The project should take five days and cost $1,500 per day to complete. After three days, the project is 30% complete and $5,000 has been spent. What is the amount of work that should have been done so far?
Select one:
a. $4,500 Correct
b. $5,000
c. $7,500
d. $2,250

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Question 27

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You are having a home theater room added to your house. The project should take five days and cost $1,500 per day to complete. After three days, the project is 30% complete and $5,000 has been spent. What is the ETC?
Select one:
a. $5,000
b. $16,666.67
c. $0
d. $11,666.67 Correct

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Question 28

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You are having a home theater room added to your house. The project should take five days and cost $1,500 per day to complete. After three days, the project is 30% complete and $5,000 has been spent. What do you expect the project to cost at completion based on the current performance?
Select one:
a. $0
b. $16,666.67 Correct
c. $11,666.67
d. $5,000

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Question 29

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You are having a home theater room added to your house. The project should take five days and cost $1,500 per day to complete. After three days, the project is 30% complete and $5,000 has been spent. What is the SPI?
Select one:
a. 0.50 Correct
b. 0.45
c. 0.40
d. 1.00

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Question 30

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You have $1,000 today and can earn 8%. In future years, how much money will this be worth?
Select one:
a. $883
b. Not enough information Correct
c. $1,202
d. $1,175

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Why customers are not finding you on Etsy

If you are still creating titles such as silver jewelry, wedding jewelry, date night jewelry, pendant jewelry….this is why you have less traffic. This is title stuffing this goes against Google’s rules. Where does most of Etsy’s traffic come from….Google.
Etsy sent out the email detailing the errors with the titles and how to fix it. Actually we are saying it is a new algorithm but Etsy never wanted us making titles like this and they are enforcing it. I have talked with many shop owners some have said they are working with a mentor. Honey that mentor is teaching you wrong. Yet still complain about why the shop is dark and when you visit the shop you see the title is stuff more than a Thanksgiving turkey….those are your tags…. . Make one clear concise title. If you are not going to follow etsy rules, then get angry cause you do not want to correct what they have told you to fix….. these mentors are preying on your ignorance…. I have have handled social media marketing for 10 years, I have never seen people this stuck in their ways even after the company has told them …No traffic no sales

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Confused by Etsy titles and Tags

The title is the headline, it pulls people in or turns them away-
=Still seeing confusion about how to create Etsy titles( titles on any site). And people who are seeing no or low sales, not understanding that titles need to be revised. The picture is from Etsy guide. It shows the incorrect way then an example of how to correct the title.
Titles such as -teacher shirt, teacher gift, gift for teacher… Google does not want repetition, just one clear title describing to the customer what the item is. Some have revised their listings, now they are to short and do not have the important critical seo in the title. Revising the title you are keeping all the important information, you are making the title into a clear, readable sentence.
Keep in mind when revising how it will appear on Google, only about 60 characters will appear in the search.
For each item you list you have the chance to be unique with the seo.
When doing tags make sure it matches what is on the page. If not people when come to the page and leave. The tags needs to describe what you are selling. Between making a great descriptive headline and tags, this helps to get you found. You can not always follow what other shops are doing, different products, marketing etc. It is not a secret/roadmap/blueprint.. you have to follow etsy and Google rules …that’s it!!
Example – Teacher mug, preschool teacher gift, funny teacher mug, coffee mug with sayings… Revise: Funny teacher mug with saying… ( you can play around with title figure out which phrases work and are ranked best) then create titles. If it us over saturated get creative – funny teacher coffee mug (7938) not as saturated as the others. Or cute teacher mugs.
People are spending more money doing ads instead of fixing the titles.

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If you are a business having a pinterest business page will breakdown the analytics for you.

Pinterest audience size has grown to over 180k. If you are a business having a pinterest business page will breakdown the analytics for you. It will tell you what your most clicked on words are. That is a great way to shape a marketing plan. It can show you where to spend that money for marketing. Knowing what customers are clicking on most you can highlight those items because you already have the interest. You have to complete the sell.
📌Pinterest is it’s own site just like tumblr and other sites. If your item is not pinned to the site the pingers on the site can not find you.

📍 www.kavalon.biz
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#pinterest #pinit #howtousepinterest #howtopin#analytics #brand #business #amwriting #asmsg#pinning #biz #supportsmallbiz#SmallBusinessSaturday #kavalon #kavalongilliam#kavalonthatsme #time #patience #handmadeideas#ideas #faq

 

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Looking to grow traffic to your blog

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Boat Baskets #Etsy @Private_Dock

privatedock

Boat Basket X 10 FREE SHIPPING!!! Home Decor, Desk Organizer, Table Decor, Dedroom Decor, Fabric Basket. Fabulous Gift for Your Home!

The Boat Basket is made ​​with love from canvas is quilted on the lining, the bottom is finished with soft lining. Boat at the bow have a mooring rope and wooden buoy. Boats are made from:

Materials: cotton, canvas, cotton rope / Available colors: many variation of blue and white strips
Dimensions of the boat:
height of 12cm (5 “) width x 35 / 15cm (14” / 6 “)

* EXPRESS DELIVERY !
European Union – 5-7 days
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Everywhere Else – 10-14 days

Purchase includes only the product, the artist always retains the copyright of the project. Copying, dissemination without permission is a violation of them.