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PMP Formula Practice Questions

Project Management Academy's PMP formula based questions are developed from A Guide to the Project Management Body of Knowledge (PMBOK® Guide) topics. Below are 10 PMP formula practice questions that will help prepare you for the PMP exam. When finished, please enter your information in the fields below to access the results and complete explanations.

Access to more than 2,000 PMP exam questions is available for free with the purchase of any Project Management Academy course. Current students can login to their portal to access more PMP formula based questions.

1. The Simons Company is always trying to get the best return on its investment. If the current interest rate is 6% and the return on investment (ROI) is 1.73, the return the company would earn if it invests in the project is called?

A. IRR
B. NPV
C. Present value (PV)
D. Earned value

2. You are a project manager working on a small marketing project to launch a new ad campaign. If earned value (EV) =350, actual cost (AC)=400, planned value (PV) =325. What is cost variance (CV)?

A. 350
B. -75
C. -50
D. 400

3. You are a new project manager for your organization. Your project has a BAC of \$250,000 and is expected to last 10 months. Currently, the project is in month six and is 40 percent complete, but the project was expected to be 60 percent complete by this time. You have spent \$125,000 to complete the work. What is the cost performance index of the project?

A. 0.66
B. 1.25
C. 2
D. 0.8

4. You have been asked by management to forecast the total cost of your project at completion. Baseline data includes BAC=\$700, with PV=\$300. Recent work performance data includes EV=\$275, with AC=\$280. Variances measured to date have no known cause, so therefore have little bearing on future estimates. What amount will you forecast?

A. 700
B. 705
C. 675
D. 712.73

5. If utilize a prototype your investment will be \$200,000. The probability of project failure is 35% and the impact will be \$120,000. If you don't utilize the prototype, the probability of project failure is 65% and the impact will be \$450,000. Based on this information, should we utilize a prototype?

A. Go with the prototype
B. Go without the prototype
C. We do not have enough data to make a decision
D. You should go to the change control board and ask them what to do

6. You are a Senior Project Manager in your organization and a newly hired Junior Project Manager comes to you for advice on how to calculate PERT for their newly assigned project. For PERT analysis, what durations are required?

A. Total Float, Lead time and Lag time
B. Pessimistic, Optimistic and Most likely estimates
C. Best and Worst case estimation
D. Top-down analogous estimates

7. You have received an estimate from a team lead that took some time to finalize but has the level of detail that allows the client to make an informed decision. The team lead apologizes to you for the delay but she had some challenges trying to get some of the estimated data from one of the subcontractors. Which method of estimating did the team lead most likely use?

A. Expert Judgement
B. Parametric
C. Bottom-Up
D. Analogous

8. Your project has an optimistic estimate of 20 weeks, a most likely estimate of 25, and pessimistic estimate of 38 weeks. What is the standard deviation of the estimate?

A. 26.3
B. 13.8
C. 7.5
D. 3

9. You are the Project Manager on a merger and acquisition project. Activity A (3 days) and activity B (4 days) can start immediately. Activity C (2 days) can start after A and B are complete. Activity D (5 days) can begin after activity B is complete. Activity E (6 days) can begin after activity B is complete. Activity F (4 days) can begin after activities C and D are complete. Activity G (5 days) can begin after activities D and E are complete. Activity H (4 days) can begin after activities F and G are complete. What is the float of activity D?

A. 1 day
B. 2 days
C. 4 days
D. Not enough information

10. You are doing some analysis to help with project selection. There is a debate concerning which projects to select. You have the following projects to choose from: Project A with an IRR of 11.5%, Project B with an IRR of 18%, Project C with an IRR of 15%, and Project D with an IRR of 13%. You can select only one project, which should you choose?

A. Project A
B. Project B
C. Project C
D. Project D

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