CAPM (Certified Associate in Project Management) Practice Exam

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What is the purpose of a procurement audit?

To settle claims and disputes
To conduct a structured review of the procurement process
To update the project management plan
To close out procurements

The correct answer is: To conduct a structured review of the procurement process

A procurement audit serves the purpose of conducting a structured review of the procurement process in order to identify any issues or areas for improvement. This option is correct because it aligns with the definition and purpose of a procurement audit. Options A, C, and D are incorrect because they do not accurately describe the purpose of a procurement audit. Option A, settling claims and disputes, is a more specific task that may be included as part of a procurement audit but not the main purpose. Option C, updating the project management plan, is a task that may be necessary as a result of the procurement audit but is not the main purpose. Option D, closing out procurements, is a task that occurs after the procurement process is completed and is not the main purpose of the audit.