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Last Updated: Jun 19, 2026
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1. Your organization performs revenue recognition based on the Labor and Non-labor Burden schedule types.
Identify the setup required to enable this kind of revenue recognition. (Choose the best answer.)
A) Create a revenue method with a revenue method classification of Rate Based.
B) Create a revenue method with a revenue method classification of Amount Based.
C) Create a revenue method classification with a revenue method of Percent Spent.
D) Create a revenue method classification with a revenue method of Percent Complete.
2. Your customer wants a project start date to cascade to the project tasks but does not want the finish date to be cascaded. Identify the default setup in a project template that can be used to enable this. (Choose the best answer.)
A) Cascade change to the start date.
B) Cascade change to the start date and the finish date.
C) Cascade change to the finish date.
D) Do not cascade date changes.
3. You recently made some changes to a project contract and the current status of the contract is Under Amendment. Identify the correct sequence of activities that can take place on that contract. (Choose the best answer.)
A) On Hold > Pending Approval > Active
B) Pending Acceptance > Pending Approval > Active
C) Pending Approval > Pending Acceptance > Active
D) On Hold > Pending Acceptance > Active
4. Your customer has separate organizations to maintain indirect, capital, and billing types of projects.
Identify the two setups that can be used to fulfill this requirement. (Choose two.)
A) Project Type
B) Project Organization Classification
C) Organization Tree
D) Business Unit
E) Project Accounting Business Function
5. Identify the precedence order in which cost rates are determined for a planning resource when deriving raw costs for rate-based planning resources. (Choose the best answer.)
A) Resource class rate schedule > Override rate > Job rate schedule > Person rate schedule
B) Person rate schedule > Job rate schedule > Resource class rate schedule > Override rate
C) Override rate > Person rate schedule > Job rate schedule > Resource class rate schedule
D) Job rate schedule > Resource class rate schedule > Override rate > Person rate schedule
E) Override rate > Job rate schedule > Resource class rate schedule > Person rate schedule
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: B,C | Question # 5 Answer: C |
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