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201.Answer:A.
PMBOK®Guide,page 492 ,Section 12. 3
Control Procurements
Thebuyer,usuallythroughitsauthorizedprocurementadministrator,providesthesellerwithformal
writtennoticethatthecontracthasbeencompleted,requirementsforformalprocurementclosure
areusuallydefinedinthetermsandconditionsofthecontractandareincludedintheprocurement
managementplan.
Deliverableacceptance.Documentationofformalacceptanceofseller-provideddeliverablesmaybe
required to be retained by the organization.The Close procurement processensures thatthis
documentationrequirementissatisfied.Requirementsforformaldeliverableacceptanceandhowto
addressnonconformingdeliverablesareusuallydefinedintheagreement.
202.Answer:B.
PMBOK®Guide,page 471 ,Section 12. 1. 1. 6
OrganizationalProcess Assets
Fixed-pricecontracts.Thiscategory ofcontracts involvessettingafixedtotal priceforadefined
product,service,orresulttobeprovided.Thesecontractsshouldbeusedwhentherequirements
arewelldefinedandnosignificantchangestothescopeareexpected.Typesoffixed-priceinclude:
o Firmfixedprice(FFP).ThemostcommonlyusedcontracttypeistheFFP.Itisfavoredbymost
buyingorganizationsbecausethepriceforgoodsissetattheoutsetandnotsubjecttochange
unlessthescopeofworkchanges.
o Fixedpriceincentivefee(FPIF).Thisfixed-pricearrangementgivesthebuyerandsellersome
flexibility in that itallows for deviationfrom performance, with financial incentives tied to
achievingagreed-uponmetrics.Typically,suchfinancialincentivesarerelatedtocost,schedule,
ortechnicalperformanceoftheseller.UnderFPIFcontracts,apriceceilingisset,andallcosts
abovethepriceceilingaretheresponsibilityoftheseller.
o Fixedpricewith economicpriceadjustment(FPEPA). Thistype is used wheneverthe seller’s
performance period spans aconsiderable period of years, or if the payments aremade in
differentcurrency.Itisafixed-pricecontract,butwithaspecialprovisionallowingforpredefined
finaladjustmentstothecontractpriceduetochangedconditions,suchasinflationchangesor
costincreases(ordecreases)forspecificcommodities.