Question 1
FMEA stands for: 
A. Financial Methods and Efficiency Analysis. 
B. Failure Modes and Effect Analysis. 
C. Full Monetary Expenditure Accrual. 
D. Financial Measurement of Expenses Accrued. 

Question 2  
Which of the following is most closely associated with FMEA? 
A. Risk priority number 
B. Game theory 
C. Expected value 
D. Simulation 

Question 3  
Which of the following is NOT a sub process associated with risk management? 
A. Risk identification 
B. Risk measurement 
C. Qualitative risk analysis 
D. Risk response planning 

Question 4  
Which of the following is NOT true regarding top-down budgeting? 
A. It is based on the collective judgments of top and middle managers. 
B. Overall project costs are estimated by top and middle managers and then passed on to the next lower level. 
C. The overall budget cost is generally not very accurate. 
D. Overlooking small but important tasks can lead to a serious budgetary problem.