ACP-01101 Practice Questions

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NEW QUESTION: 1
You work as a System Analyst for Blue Well Inc. You use Microsoft Outlook for messaging and emailing. MS Outlook has been configured to use an IMAP account.
You want to search all the e-mails that belong to the Key Customer category and save them to a separate location for future reference.
Which of the following actions will he perform to accomplish the task?
A. Use Search Engines.
B. Use the Find tool.
C. Use the Advanced Find tool.
D. Use the Instant Search tool.
Answer: C

NEW QUESTION: 2
An auditor of a manufacturer would most likely question whether that client has committed illegal acts if the
client has:
A. Disclosed several subsequent events involving foreign operations in the notes to the financial
statements.
B. Been forced to discontinue operations in a foreign country.
C. Been an annual donor to a local political candidate.
D. Failed to correct material weaknesses in internal accounting control that were reported after the prior
year's audit.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Choice "A" is correct. Being forced to discontinue operations in a foreign country would cause the auditor
of the manufacturer to question whether that client has committed an illegal act.
Choice "B" is incorrect. Making political contributions to local politicians is not illegal. (Bribes are illegal.)
Choice "C" is incorrect. Failure to correct material weaknesses in internal accounting control may
represent a conscious decision by management to accept that degree of risk because of cost or other
considerations.
Choice "D" is incorrect. Disclosure of subsequent events is not indicative of an illegal act.

NEW QUESTION: 3
You work as a project manager for HRM Inc. Your project is in a situation in which a party interested in trading an asset is unable to do so. Which of the following types of risks must have occurred in the above scenario?
A. Market risk
B. Pure risk
C. Liquidity risk
D. Financial risk
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Answer option A is correct.
Liquidity risk refers to the situation in which a party interested in trading an asset is unable to do so. It is important for those who hold an asset and unable to market it. It affects their ability to trade. If a party is not able to find any other party to sell the asset, the asset can be termed as worthless.
Answer option D is incorrect. Pure risk has only a negative effect on the project. Pure risks are activities that are dangerous to complete and manage such as construction, electrical work, or manufacturing. It is a class of risk in which loss is the only probable result and there is no positive result. It is associated to the events that are outside the risk-taker's control. The nature of the work includes some pure risks. Pure risks can also include things like acts of god (force majeure), fire, and theft.
Answer option B is incorrect. Market risk states that the price of a portfolio will reduce because of the change in value of the market risk factors. This portfolio may be an investment portfolio or a trading portfolio. The standard market risk factors are as follows:
Stock prices

Interest rates

Foreign exchange rates

Commodity prices

Answer option C is incorrect. A financial risk is a risk that is related to money. Money can be an income or an expense incurred by a company. If the money is related to investment, it is a capital risk. If it is related to currencies of other countries, it is a currency risk.
Reference: "Project Management Body of Knowledge (PMBOK Guide), Fourth edition" Chapter: Quality and Risk Management Objective: Risk Modeling and Response