IBM Maximo EAM Quiz 4 – Contracts Module

Following questions are related to Contracts Module of IBM Maximo Enterprise Asset Management. They may help in preparation of certification test number 000-015 i.e. IBM Maximo Enterprise Management v7.1 Implementation.

Choose one of the following options and leave your answers in a comment below:

  1. Which of the following is true about Labor Rate Contract.
    • A – Craft Rate lines created in Labor Rate Contract are automatically available in Crafts application
    • B – Craft Rate lines created in Labor Rate Contract should be entered in Crafts application also for use on Job Plan and Work Orders
  2. In Lease/Rental contract application following types of contracts can be created.
    • A – Lease
    • B – Lease and Rental
    • C – Lease, Rental and Service
    • D – Purchase
  3. Which of the following types of contracts can be created in Warranty Contracts application.
    • A – Warranty
    • B – Service
    • C – Both
  4. In Warranty Contracts, each contract lines specifies the warranty period and coverage for an asset mentioned on the line.
    • A – True
    • B – False
  5. View Release Cost option is not available for which of the following contract type.
    • A – Purchase Contract
    • B – Warranty Contract
  6. In a Lease Contract, asset can be purchased at the end of lease. This buy-out option is not available in Rental Contract.
    • A – True
    • B – False
  7. Contracts created from Purchase Contracts application may have one of the following types.
    • A – Purchase, Price and Blanket
    • B – Purchase, Price, Service and Blanket
    • C – Purchase, Price and Service
  8. If a contract having start date in future is approved, the status changes to:
    • A – APPR
    • B – PENDING
    • C – WSTART
  9. The total cost field on Master Contract reflect the sum of the total costs of associated contracts.
    • A – True
    • B – False
  10. Contracts can not be associated to an unapproved Master Contract
    • A – True
    • B – False
  11. PENDING, SUSPND and EXPIRED are valid statuses for contracts
    • A – True
    • B – False
  12. A Terms and Conditions referred on approved Contracts can not be deleted from Terms and Conditions application.
    • A – True
    • B – False
  13. Terms and Conditions can be added to approved Contracts.
    • A – True
    • B – False

9 thoughts on “IBM Maximo EAM Quiz 4 – Contracts Module

  1. 1:◦B – Craft Rate lines created in Labor Rate Contract should be entered in Crafts application also for use on Job Plan and Work Orders
    2:◦B – Lease and Rental
    3:◦C – Both
    4:◦B – False
    5:◦A – Purchase Contract
    6:◦B – False
    7:◦A – Purchase, Price and Blanket
    8:◦C – WSTART
    9:◦A – True
    10:◦B – False
    11:◦B – False
    12:◦A – True
    13:◦A – True

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