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PM Training Module 3: Financials and Invoices

A modern office setting with project managers discussing financial plans, invoices, and graphs on a digital screen, emphasizing project management themes.

Project Management Financials Quiz

Test your knowledge of project management financials and invoicing with this engaging quiz! Designed for project managers and finance professionals, this quiz will assess your understanding of key concepts in managing project finances.

10 challenging multiple-choice questions
Learn about invoicing, revenue, and expense calculations
Enhance your project management skills

10 Questions2 MinutesCreated by CalculatingLeader752

1. With respect to invoicing, the following are all the responsibility of the project manager except:

A. Accounts receivable

B. Final QC of invoices

C. Payments to vendors

D. Accurals

2. When can invoices be generated?

A. Whenever a client requests one

B. Monthly

C. As prescribed by contract

D. At completion of services

E. All of the above

3. Who is primarily responsible for the overall success of a project?

A. Project principal

B. Project Manager

C. All people charging time to a project

D. Client

4. Expenses not charged to a project are called...

A. Overhead

B. Direct costs

C. Indirect costs

D. Net expenses

E. Fringe benefits

5. Project billable hours x 100 / total hours =

A. Net multiplier

B. Utilization

C. Direct expenses

D. Net revenue

E. None of the above

6. Overhead is...

A. Not integral to the service performed

B. A cost that cannot be applied to the output

C. Related to the operation of the company as a whole

D. All of the above

E. None of the above

7. Total revenue minus direct expenses equals

A. Net profit

B. Indirect expenses

C. Net revenue

D. Gross revenue

E. Net multiplier

8. A good indicator of how well a project performed financially is...

A. Utilization

B. Net multiplier

C. Gross revenue

D. All of the above

9. What does ETC stand for?

A. Eclectic Transmogrification Confluence

B. Everyone Trashes Clemson

C. Exit to Cleveland

D. Estimate to Completion

E. Envision Total Chaos

10. You negotiate design fees of $50,000 for a two-mile long road widening project and your principal is concerned you have underpriced it. You determined that your labor costs will be $15,000 and your subconsultant fees will be $5000. What is your effective multiplier?

A. 3.67

B. 3.33

C. 3.00

D. 2.50

E. Cannot be determined with the information given

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