CAPM (Certified Associate in Project Management) Practice Exam

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Which of these best describes claims administration?

  1. Risk mitigation activity

  2. Marketing for procurement

  3. Response to buyer and seller conflicts

  4. Financing the procurements

The correct answer is: Response to buyer and seller conflicts

Claims administration is the process of managing and addressing any conflicts or issues that may arise between buyers and sellers during the procurement process. This can include disputes over contract terms, delivery of goods or services, or payment. Option A, risk mitigation activity, refers to measures taken to minimize the impact of potential risks on a procurement project. While claims administration may involve some risk mitigation, it is not its primary purpose. Option B, marketing for procurement, is not a accurate description of claims administration. Marketing typically refers to promoting and advertising products or services, while claims administration deals with resolution of conflicts. Option D, financing the procurements, is not an accurate description of claims administration. Financing refers to the process of obtaining funds for a project, while claims administration deals with resolving conflicts between buyers and sellers.

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