Saturday, October 14, 2023

20 PMI-PfMP Free Questions and Answers (Part - 2)

This post is in continuation of the earlier series of questions for the PfMP® examination. I would strongly recommend that you take both the parts together when you try to attempt the questions. 

These are not verbatim questions from the PfMP exam. Nevertheless, a lot of thought, understanding and also pain have gone in preparing the questions. 

These questions cover the areas needed for the exam. The questions are based on the Standard for Portfolio Management, Standard for Risk Management in Portfolios, PfMP Examination Content Outline (ECO) and other reference books (PMI list) for the PfMP exam.

In this part, we will have the final 10 questions of the series.

These questions are from the newly released book:

I Want To Be A PfMP, the plain and simple way

Again, I sincerely hope you enjoy doing these PfMP questions, and it helps in your PfMP exam preparation.

[This series: Part - 1] 

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Question – 11: After authorizing the portfolio components, you have documented the governance decision in the portfolio reports. Now, you want to communicate the decisions to the key stakeholders. Which tool or technique will be most effective?
A Portfolio authorization technique
B Portfolio management information system
C Portfolio review meetings
D Communication requirements analysis 

Question – 12: You are doing a number of surveys and also conducting questionnaires with stakeholders to provide monitoring and control for the portfolio. This is known as:
A Elicitation
B Requirement gathering
C Using communication methods
D Employing communication vehicles

Question – 13: While optimizing the portfolio, you want to know the top risks associated with the portfolio components and any potential issues that may arise due to implementation. Which one will help you the most for this analysis?
A Portfolio risk reports
B Portfolio issue reports
C Portfolio capacity reports
D Portfolio performance reports

Question – 14: The portfolio strategic plan has:
A Portfolio vision, goals, objectives, success criteria, scope and resources

B Measurable goals and objectives, portfolio benefits, key risks, assumptions, constraints, and dependencies

C High-level scope, high-level budget, key and initial stakeholders, assumptions and constraints, high-level risks

D Governance model, prioritization model, portfolio oversight, portfolio structure

Question – 15: Portfolio management is not only getting the right components and related investment decisions, but also considering the risks involved and building a risk-adjusted portfolio. For this, a portfolio manager can use many investment choice tools, but:
A Market-payoff variability analysis
B Probability or probabilistic analysis
C Performance variability analysis
D Time-to-market variability analysis

Question – 16: Traffic light colors such as red, yellow, green, and blue, along with milestone markers are used to display component status for the entire portfolio. This report is:
A Portfolio Resource Utilization Report
B Portfolio Performance Variance Report
C Portfolio Funnel Chart or Burndown/Burnup Chart
D Portfolio Resource Capacity and Capability Report

Question – 17: You are taking raw data or information without full context and putting it into reports with context, which holds values for the recipients. It's:
A Qualitative and Quantitative (Q&Q) Analysis
B Capability and Capacity (C&C) Analysis
C Communication Requirement Analysis
D Stakeholder Analysis

Question – 18: Your sponsor is concerned about all the portfolio risks, including the various sources of uncertainties. A colleague, who is a certified PfMP has advised you to develop a portfolio risk exposure chart, because this chart shows:
A Internal risks and external risks
B Portfolio risks, Component risks and Overall risks
C Structural risks and Execution risks
D Technical risks, Management risks and Portfolio risks

Question – 19: As you pre-screen, identify and categorize the portfolio components, you are using a number of component descriptors. However, which one of the following is not a portfolio component descriptor?
A Quantitative benefits
B Qualitative benefits
C Alignment for strategy 
D Portfolio component customer

Question – 20: Currently, you are developing a key deliverable which provides the high-level graphical timeline, mapping of portfolio components, and internal and external dependencies. For this purpose, you are looking for a simple prioritization model with criteria such as strategic alignment, financial benefits, financial costs, risk, and dependencies. What should you do?
A Check the Portfolio Charter
B Take the prioritization model from the Portfolio Management Plan
C Refer to the prioritization model of the Portfolio Strategic Plan
D Seek guidance from the Portfolio Governing Body

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The question set is available in the embedded document below. The answers are also part of this document.

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