Question 6 of 73
You want to create a few project roles so as to restrict access in the Project Financial Management work area to only the specific projects in which an employee is assigned as a team member. What are the two default project roles available to meet this requirement? (Choose two.)
    Correct Answer: C, E

    To restrict access in the Project Financial Management work area to the specific projects in which an employee is assigned as a team member, the two default project roles that are appropriate are Project Manager and Project Team Member. These roles are directly involved in the project and would need specific access to the projects they are assigned to. Roles like Project Accountant and Project Billing Specialist are more specialized and generally have broader access across multiple projects for financial oversight.

Question 7 of 73
You create a contract with two contract lines: Line 1 and Line 2. You create separate bill plans: A for contract Line 1 and B contract for Line 2, with a different bill set number (11 for Bill Plan A and 22 for Bill Plan B).
Then Bill Plan A is allocated against Project X Task 10, and Bill Plan B is allocated against Project Y Task 30.
Based on the preceding setup, you are generating invoices. Identify two correct statements about invoice generation in this scenario. (Choose two.)
    Correct Answer: B, C

    In this scenario, two invoices are created because there are separate bill plans for each contract line, even though they are under the same contract. Additionally, the bill set number drives the grouping of transactions, meaning that despite being under the same contract, the different bill set numbers will result in separate invoices.

Question 8 of 73
Your customer has different accounting and project accounting periods, and sometimes enters invoices with an invoice date in the open project accounting and closed accounting periods. Which two statements are true about how project accounting and accounting dates will be populated in such invoices? (Choose two.)
    Correct Answer: C, E

    When invoices have an invoice date in the open project accounting and closed accounting periods, certain rules must be followed to maintain consistency. The project accounting date gets adjusted to the first day of the first open project accounting period to ensure it falls within the open periods, aligning financial reporting correctly for project accounting. Similarly, the accounting date is changed to the first day of the first open accounting period to ensure it does not align with a closed period, maintaining the integrity of financial records.

Question 9 of 73
Which product offering enables non-exclusive relationships between multiple projects and tasks with contracts and contract lines? (Choose the best answer.)
    Correct Answer: B

Question 10 of 73
You have a small project for a period of five months. Your budget amount for each month is spread evenly and is $1000 per month. The first month actual expense is $800 and there is a commitment for $600. Now you generate a forecast at the beginning of the second month. Identify the monthly Estimate-To-Complete (ETC) amount that the application would calculate for the remaining four periods, when the ETC generation method includes commitments. (Choose the best answer.)
    Correct Answer: B

    The project has a total budget of $5000 for five months, which means $1000 per month. The first month's actual expense is $800 with an additional commitment of $600, totaling $1400. This leaves $3600 for the remaining four months. Dividing this amount by the four remaining months results in an Estimate-To-Complete (ETC) amount of $900 per month.