Question 1

Which statement accurately describes Just-in-Time (JIT) techniques for materials procurement?

Options :

A : Is not actually a procurement strategy

B : Cause fast tracking

C : Remove safety stocks

D : Cost more than they save

Answer: C

Question 2

A major hospital is planning a significant expansion of its facilities over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded, and construction will begin three years after the award of the design contract. The hospital plans to incorporate new, cutting-edge medical equipment and technology, requiring an estimate to be developed to identify these costs without historical data.What information is needed to develop a Class 2 definitive estimate for the hospital's expansion project?

Options :

A : Soil data, detailed construction drawings, quantity takeoffs, minimum contingency detailed indirect costs, detailed engineering estimates

B : Vendor quotes, home office detailed estimate, preliminary quantities with labor, material, and factorsapplied

C : Preliminary quantities with labor, material, and factors applied, square footage of facilities, minimumcontingency detailed indirect costs

D : Square footage of facilities, factored indirects and home office costs

Answer: A

Question 3

Which project site would be the first choice for a corporation?

Options :

A : Site B: New country - Low tax rate - Moderate productivity - Moderate wages - New market -

Government faces economic problems

B : Site A: Adjoining an existing site - High tax rate - Moderate productivity - Low wages - Stable government

C : Site C: Adjoining an existing site - High tax rate - Moderate productivity - Moderate wages - New government

D : Site D: Located in an existing industrial park - Moderate productivity -High wages - Stable government (military involved)

Answer: B

Question 4

Given the project's status, how many hours have been earned if 6,573 hours have been spent and the project is 55% complete, against a planned 60%?

Options :

A : 7,200

B : 6,573

C : 6,960

D : 6,600

Answer: D

Question 5

Options :

A : Indirects = $3.53, Overheads = $4.78

B : Indirects = $1.68, Overheads = $6.62

C : Indirects = $6.62, Overheads = $1.68

D : Indirects = $1.60, Overheads = $6.70

Answer: C

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