## Test your basic knowledge |

# CAPM Cost Management

**Instructions:**

- Answer 26 questions in 15 minutes.
- If you are not ready to take this test, you can study here.
- Match each statement with the correct term.
- Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.

**1. What does life cycle costing mean?**

**2. What is value analysis?**

**3. What are the formulas for estimate at completion?**

**4. What are the main approaches to cost or schedule estimating?**

**5. What is the difference between a cost budget and a cost baseline?**

**6. What is the formula for schedule variance?**

**7. What is the formula for schedule performance index?**

**8. What is the range for a rough order of magnitude estimate?**

**9. What is the formula for estimate to complete?**

**10. What is the range for a definitive estimate?**

**11. What are key outputs of the Control Costs process?**

**12. What is parametric estimating?**

**13. What is the formula for TCPI?**

**14. What are key outputs of the Determine Budget process?**

**15. What is the formula for variance at completion?**

**16. What is earned value measurement?**

**17. What is analogous estimating?**

**18. What is the process of cost management?**

**19. Name inputs to the Estimate Costs process.**

**20. Describe a direct cost and and indirect cost chargeable to the project**

**21. What is the formula for cost variance?**

**22. What is the formula for cost perfrmance index?**

**23. In which process is the cost management plan created?**

**24. Describe a varable cost and a fixed cost chargeable to the project.**

**25. What is the range for a budget estimate?**

**26. What are key outputs of the Estimate Costs process?**