Practice Test Geeks(CAM) Control Account Manager Certification Practice Test
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Industry Regulations & Compliance Flashcards

7 cards from real CAM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Industry Regulations & Compliance flashcards as text

  1. A CAM is asked by a program manager to set earned value equal to actual costs to eliminate a cost variance. What should the CAM do?

    Answer: Refuse, because manipulating earned value violates EVMS integrity requirements

    Setting earned value to match actuals falsifies performance data and violates EVMS guidelines and federal reporting integrity rules.

  2. Under EVMS rules, management reserve (MR) may be used for which of the following?

    Answer: Unforeseen in-scope work within the current contract

    MR is budget held for unexpected in-scope effort and can never be used to offset existing variances or fund out-of-scope work.

  3. Which document formally describes how a contractor's EVMS operates and serves as the standard against which compliance is assessed?

    Answer: The EVM System Description

    The EVM System Description documents the contractor's processes and is the benchmark used in compliance reviews.

  4. What is the compliance consequence when DCMA identifies significant EVMS deficiencies that the contractor fails to correct?

    Answer: Potential withholding of contract payments and withdrawal of system validation

    Persistent deficiencies can lead to payment withholds under DFARS business systems rules and loss of EVMS validation.

  5. A control account's budget may be changed retroactively under EVMS rules only when:

    Answer: Correcting documented errors or accounting adjustments through formal change control

    Retroactive changes are limited to correcting errors or routine accounting adjustments and must go through documented change control.

  6. Which report delivers integrated cost and schedule performance data to the government under the current DoD data requirement?

    Answer: Integrated Program Management Data and Analysis Report (IPMDAR)

    The IPMDAR replaced the legacy IPMR/CPR as the contractual vehicle for delivering EVM performance data.

  7. Freezing changes to near-term baseline plans except through formal control is enforced by which common EVMS mechanism?

    Answer: A freeze period or baseline change control window

    A freeze period restricts changes to current and near-term periods so performance data remains meaningful.