Practice Test Geeks(CAM) Control Account Manager Certification Practice Test
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Cost Control and Budgeting 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 Cost Control and Budgeting flashcards as text

  1. A control account has three work packages using 0/100, 50/50, and percent complete techniques. What determines EV at the control account level?

    Answer: The sum of earned value from each work package

    Control account EV is simply the sum of the EV claimed by each of its work packages.

  2. Freezing changes to budgets and earned value within the current accounting period primarily protects what?

    Answer: The integrity of current-period performance measurement

    Restricting current-period changes prevents manipulation of variances and preserves data integrity.

  3. An EAC of $2.1M against a BAC of $2.0M is projected, and the CAM identifies a recovery plan saving $60,000. What should the CAM's updated EAC reflect?

    Answer: $2.04M, incorporating only realistic, approved recovery actions

    EACs should be the CAM's most realistic projection, including credible recovery actions: $2.1M − $60,000 = $2.04M.

  4. Which document authorizes a CAM to perform work and establishes the scope, schedule, and budget for the control account?

    Answer: The work authorization document (WAD)

    The work authorization document formally conveys scope, schedule, and budget authority to the CAM.

  5. Indirect costs applied to a control account are typically controlled by whom?

    Answer: Managers of the indirect cost pools, not the CAM

    Indirect rates and pools are managed by functional or pool managers; the CAM manages direct performance.

  6. A program is 30% complete and the cumulative CPI has stabilized at 0.85. Research on EVM data suggests what about final cost performance?

    Answer: The cumulative CPI is unlikely to improve significantly, so an overrun should be projected

    Studies show cumulative CPI stabilizes by about the 20% completion point and rarely improves, so overruns should be projected.

  7. When closing out a completed control account, what should the CAM verify before final closure?

    Answer: All scope is complete, final actuals are recorded, and remaining budget is not reused elsewhere

    Closure requires confirming scope completion, capturing final actuals, and preventing unauthorized reuse of remaining budget or charge numbers.