CAM Earned Value Management 3

Question 1

A CAM discovers actual costs were charged to the wrong control account. What is the proper corrective action?

Accepted Answer

Process a cost transfer correcting the mischarge with documented justification

Answer

Misbooked actuals must be corrected through a documented cost transfer, never by manipulating earned value or budgets.

Question 2

Which document authorizes a CAM to begin work and defines the scope, schedule, and budget of a control account?

Accepted Answer

Work authorization document

Answer

The work authorization document formally releases scope, schedule, and budget to the CAM before work begins.

Question 3

During an integrated baseline review (IBR), what is the primary focus regarding control accounts?

Accepted Answer

Assessing whether the baseline is realistic and risks are understood

Answer

An IBR validates that the performance measurement baseline is achievable and that CAMs understand their scope, schedule, budget, and risks.

Question 4

A control account shows SPI of 1.10 and CPI of 0.80. What is the best interpretation?

Accepted Answer

Work is ahead of schedule but costing more than planned

Answer

SPI above 1.0 means ahead of schedule, while CPI below 1.0 means each earned dollar costs more than budgeted.

Question 5

What is the correct handling of budget for authorized, unpriced work (AUW) that has been negotiated but not yet distributed to control accounts?

Accepted Answer

Hold it in undistributed budget until it is allocated

Answer

Budget not yet distributed to control accounts is held in undistributed budget, which is part of the PMB.

(CAM) Control Account Manager Certification Practice Test