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NEW QUESTION: 1
All of the following statements regarding management reserves are true EXCEPT:
A. Management reserve describes the difference between the maximum funding and the end of the cost baseline
B. Any gap at the end of a project between the funds allocated and the cost baseline and cash flow mounts shows the amount of the management reserve that was not used.
C. Management reserves are allowance for unplanned, but potentially require to changes
to the project scope and cost
D. Management reserves are not part of the project cost baseline but are included in the budget for the project
E. Management reserves are distributed as part of the budget and are part of earned value calculations
Answer: E
NEW QUESTION: 2
The comparative sales approach is not well suited for estimating the market value of:
A. a custom lake cabin with log construction built by the owner in an isolated rural area
B. a single-family home in northern California where property values have increased rapidly in the past decade
C. a single-family home in a traditional suburban residential setting
Answer: A
Explanation:
The comparative sales approach would be the most difficult to apply to the remote custom built cabin. The comparative sales approach relies on finding recent sales of properties of similar nature.
In an isolated rural area, sales take place relatively infrequently. Add to this problem the fact that the improvements to the property are unique. It would likely be difficult to find a recent sale that would be comparable.
NEW QUESTION: 3
What was the maximum wind speed on January 1998?
(1) The average (arithmetic mean) of the maximum monthly wind speed between March 1997 and January
1998 is 35 knots, which was higher by 12 knots from the average (arithmetic mean) of the maximum monthly wind speed between February 1997 and December 1997.
(2) The maximum wind speed on January 1998 was 8 knots higher than the maximum wind speed on February 1997.
A. Statements (1) and (2) TAKEN TOGETHER are NOT sufficient to answer the question, requiring more data pertaining to the problem.
B. Either statement BY ITSELF is sufficient to answer the question.
C. Statement (2) BY ITSELF is sufficient to answer the question, but statement (1) by itself is not.
D. Statement (1) BY ITSELF is sufficient to answer the question, but statement (2) by itself is not.
E. Statements (1) and (2) TAKEN TOGETHER are sufficient to answer the question, even though NEITHER statement BY ITSELF is sufficient.
Answer: E
Explanation:
Explanation/Reference:
Explanation:
The question doesn't tell us much, go straight to the statements.
From statement (1) we can find the sum of the wind speeds between March 1997 and January 1998, which is (11 x 35 = 385 knots). The average of the other group of months is (11 x (35 - 12) = 253).
The difference between the two numbers is the sum of the maximum in January 1998 and February 1997.
Define J as the maximum on January and F as the maximum on February, you can write the following equation: J + F = (385 - 253 = 112). J is what we're looking for.
Statement (2) can be written as J - F = 8.
We have two simple equations with two unknowns, both statements together are sufficient.
NEW QUESTION: 4
The purpose of PEST analysis is described by which of the following?
A. To examine the competitive forces at work in the industry.
B. To assess the threats and opportunities posed by the wider environmental forces.
C. To assess the power of the internal stakeholders.
D. To determine the strengths and weaknesses of the organisation.
Answer: B
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