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CFM Top Questions & CFM Valid Study Notes
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IFMA CFM Exam Syllabus Topics:| Topic | Details | | Topic 1 | - Risk Management: This section measures the skills of Risk Managers in planning for risk management. It includes emergency preparedness, response, recovery strategies, facility resilience, and business continuity planning to mitigate potential risks associated with facility operations.
| | Topic 2 | - Facility Information Management and Technology Management: This domain focuses on the skills of Information Technology Managers in data collection and information management. It includes information protection and cybersecurity, technology needs assessment and implementation, and maintenance and upgrades of technology systems to ensure efficient operations.
| | Topic 3 | - Sustainability: This section evaluates the skills of the target audience in managing sustainability initiatives. It covers energy management, water management, materials and consumables management, waste management, and workplace site management to promote environmentally responsible practices within facilities.
| | Topic 4 | - Finance and Business: This section measures the skills of Financial Managers in operational and capital budgeting processes. It includes evidence-based decision-making processes, procurement strategies, contracting practices, financial analysis, and reporting to ensure sound financial management within facilities.
| | Topic 5 | - Communication: This domain assesses the abilities of Risk Managers in planning, delivering, and evaluating communication strategies within facility management. Effective communication is vital for ensuring that all stakeholders are informed and engaged.
| | Topic 6 | - Leadership and Strategy: This domain focuses on the competencies of Facility Managers in strategic planning and alignment with organizational demands. It covers policies, procedures, compliance issues, individual and team management, leadership qualities, relationship management, change management, corporate social responsibility, and understanding external factors affecting facility management.
| | Topic 7 | - Real Estate: This domain assesses the skills of the target audience in developing real estate strategies. It covers real estate assessment, acquisition, disposal processes, asset management, space management, major projects, and new construction to optimize facility use.
| | Topic 8 | - Performance and Quality: This section evaluates the skills of the target audience in quality management and performance management. It emphasizes the importance of maintaining high standards in facility operations to ensure efficiency and effectiveness.
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IFMA Certified Facility Manager Sample Questions (Q80-Q85):NEW QUESTION # 80
What steps should be taken to create a risk assessment and risk plan?
- A. Utilize project tools. PERT or Gantt charts, work breakdown structures to identify risk, track issues, and mitigation risks.
- B. Add additional days to activity durations to build in a cushion. Identify areas in the project that can be cut out, if necessary.
- C. Communicate the risks to stakeholders. Request additional funds to cover contingencies on the most important risks.
- D. Identify the risks. Determine the probability and severity of each risk. Develop contingencyplans to ameliorate each risk.
Answer: D
Explanation:
A properrisk assessment and plan (A)requires:
* Identifying risks- Recognizing potential threats.
* Assessing probability and severity- Evaluating impact likelihood.
* Developing contingency plans- Creating strategies to mitigate identified risks.
* Stakeholder communication (B)is important but does not constitute a complete risk plan.
* Adding extra time (C)does not directly address risk sources.
* Project tools (D)help manage risk but do not replace systematic risk analysis.
NEW QUESTION # 81
What is included in contract documents specified in owner and contractor agreements?
- A. Shop drawings
- B. Notice to bidders
- C. Bidding requirements
- D. Specifications
Answer: D
Explanation:
In owner-contractor agreements, contract documents outline the legal and technical expectations of a project. The correct answer is:
* Specifications detail the materials, workmanship, and performance criteria required for the project.
* Why the other options are incorrect:
* (A) Bidding requirements apply before contract execution and are not part of the agreement itself.
* (B) Notice to bidders is used in procurement but is not included in the formal contract.
* (D) Shop drawings provide detailed fabrication and installation instructions but are submitted after contract award.
NEW QUESTION # 82
What sequential steps should you follow when trying to settle a contract dispute with a contractor?
- A. Mediation, arbitration, litigation, and negotiation
- B. Mediation, negotiations, arbitration, and litigation
- C. Negotiations, arbitration, mediation, and litigation
- D. Negotiations, mediation, arbitration, and litigation
Answer: D
Explanation:
Thecorrect sequence for resolving contract disputesfollows a structured approach:
* Negotiations irect discussions to resolve the issue informally.
* Mediation:Involves a neutral third party to facilitate resolution.
* Arbitration:A binding or non-binding legal process to settle the dispute.
* Litigation:Taking legal action as a last resort.
* Why the other options are incorrect:
* (A) Mediation is not the first step; negotiations should come first.
* (B) Arbitration should come before litigation.
* (D) Mediation should precede arbitration for an amicable resolution.
NEW QUESTION # 83
Which bond is returned to contractors who submit unsuccessful proposals?
- A. Retention
- B. Performance
- C. Bid
Answer: C
Explanation:
A bid bond (Option B) is submitted as part of the contractor's proposal and is returned to unsuccessful bidders after the selection process.
Why Option B is Correct?
* A bid bond guarantees that the contractor will enter into the contract if selected.
* If the contractor fails to sign the contract, the bond is forfeited.
* Unsuccessful bidders receive their bid bonds back after the award decision.
* IFMA's Project Management Core Competency highlights contractor selection and financial guarantees as key FM responsibilities.
Why Other Options Are Incorrect?
* Option A (Performance Bond): Guarantees project completion but is only required from the winning contractor.
* Option C (Retention Bond): A portion of the contractor's payment is withheld until project completion, but this does not apply to unsuccessful bidders.
NEW QUESTION # 84
Which type of lease requires the tenant to pay all expenses of the property being leased (taxes, insurance, maintenance) in addition to rent?
- A. Gross lease
- B. Triple net lease
- C. Full-service lease
Answer: B
Explanation:
A triple net lease (NNN lease) (Option A) requires the tenant to cover all property expenses in addition to base rent.
Why Option A is Correct?
* NNN leases shift the responsibility of property costs (taxes, insurance, and maintenance) from the landlord to the tenant.
* These leases are common in commercial real estate because they reduce risk for property owners while providing stable rental income.
* IFMA's Real Estate & Property Management Core Competency highlights the importance of understanding lease structures for effective property management.
Why Other Options Are Incorrect?
* Option B (Gross lease): The landlord pays for all expenses, and the tenant only pays a fixed rent.
* Option C (Full-service lease): Similar to a gross lease, all costs are included in the rent.
NEW QUESTION # 85
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