Question 1.
Which of the following best describes EAC?

A. A remaining budget amount for the period or project.
B. A revised budget amount for the period or project.
C. Contract changes for the project.
D. Estimated cost overruns for the project.

Answer: B

Question 2.
If Revenue Recognition is calculated and posted at the Task level and based on a calculation of Amounts and All Expenses and Contract Value, which of the following must be true?

A. A task-level subaccount must be defined in the Task Maintenance screen.
B. The Budget Maintenance screen must contain task level EAC amounts for all expense Account 
    Categories relevant to the project, as well as Contract Value.
C. A task-level revenue account must be defined in the Percent Complete and Revenue 
    Recognition Setup screen.
D. The Budget Maintenance screen must contain task level EAC amounts for all expense 
    Account Categories, as well as Revenue.

Answer: B

Question 3.
Budgets are entered at what level of a project?

A. Budgets must always be entered for a project, task and Account Category combination.
B. Budgets must always be entered for an Account Category within the project.
C. Project and task level budgets can be entered into the Budget Maintenance screen.
D. Employee level within account category.

Answer: A

Question 4.
A schedule (Billing or Revenue) can have additional periodic line items added automatically by what periodical basis?

A. For each month.
B. For each week, month or quarter.
C. For each month, quarter or year.
D. On an annual basis only.

Answer: B

Question 5.
Transactions can be transferred using the Financial Transaction Transfer process if they belong to which Project Controller period?

A. Current
B. Future
C. Any
D. Prior

Answer: C

Question 6.
In any one Allocation Method Step, postings can be created for which of the following?

A. Either Project Controller or General Ledger or both.
B. Project Controller and optionally General Ledger.
C. The General Ledger only.
D. Project Controller only.

Answer: A

Question 7.
What are the three levels of hierarchy in Project Controller transactions?

A. Customer, Project, Task
B. Contract, Project, Type
C. Project, Account Category, Employee
D. Project, Task, Account Category

Answer: D

Question 8.
The Labor Commitment Load calculation considers what field in Employee Position Rate Maintenance?

A. Prevailing wage code
B. Hourly
C. Salary
D. Union

Answer: B

Question 9.
What approval routing options are possible when an Expense report status is changed from n Process?to ompleted?

A. No approval routing is available.
B. Task manager approval is only available.
C. An approval message can automatically be sent to the employee supervisor if the project to 
   which expenses are entered does not first require project manager approval.
D. Supervisor approval is only available.

Answer: C

Question 10.
A project is set up in October of 2001, and costs and billings are generated. The Year-End Close process is run in Project Controller for 2001. If the Project Profitability Report is run in January of 2002, the PTD and YTD amounts are equal. 

What happened?

A. The contract type was defined incorrectly in Project Maintenance. Selecting the correct 
    contract type will change the PTD amounts.
B. The project is not set up to carry a balance forward at year-end. Check the box in Project 
    Maintenance and re-run Year-End Close.
C. The Year- End Close function processed incorrectly. Re-run Year- End Close to correct the 
    issue.
D. There are no transactions for January 2002. Once transactions are entered, the PTD and YTD 
    balances will be different.

Answer: B

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