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CAPM Exam Study Latest 2024
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A mobile device manufacturer is halfway through prototyping a new product when the
supplier who provides one of the raw materials used to manufacture their device
casings declares bankruptcy and goes out of business
...

Which of the following best describes a process that may not have been performed
comprehensively in this scenario?
A
Perform qualitative risk analysis
B
Monitor risks
C
Identify risks
D
Plan risk management - ANSCorrect answer: Identify risks
The identify risks process is used to identify potential project risks individually as well as
overall risks to the project in general
...
Without proper identification of risks
before they are realized, they cannot be planned for, and responses are often pressured
by time and cost constraints
...

Perform qualitative risk analysis is incorrect, as it prioritizes individual risks for deeper
analysis due to factors like probability of occurrence and impact to the project
...

A project manager has been asked by a senior stakeholder to implement some changes
to the project
...
At what
point should the project manager evaluate the impact of a requested change?
A
First, before any other action is started
B
After the change request is approved
C
After they get the customer to buy in on the change

D
After they find a way to save time by implementing the change - ANSCorrect answer:
First, before any other action is started
The project manager should evaluate the impact of a requested change before taking
any other action
...
The organization has
set a goal to increase sales by 12% within the next three years
...
All projects should be aligned with their
organization's strategic plan
...

In this case, the organization has announced it would like to see a 12% increase in
sales over the next three years, and completing this project will exceed that
organizational goal
...

She works with the HR manager to add each team member's newly acquired skills to
their human resource records
...
Closing is those processes performed to formally complete or
close a project, phase, or contract
...

They explore the critical path within the current schedule
...
It represents the longest path through the entirety of the
project, and typically, this path consists of every single activity that must be concluded
from the kickoff to the ultimate conclusion of the project
...
The critical path will help the project
manager to determine the length of time the project will take and where their attention
would be best focused
...
She is in the process
of collecting processes, procedures, and historical information for the department's new
electrical management and security project
...
Initiating is the
processes performed to define a new project or a new phase of an existing project by
obtaining authorization to start the project or phase
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Jai is the head of the IT
department for Company X and Bai is the operations manager for the department
receiving the new software
...
Stakeholders are individuals who will affect or be affected by a
project
...

Dennis has just been assigned to an Agile project due to his leadership abilities from
previous projects
...
Which leadership style does this best represent?

A
Transactional
B
Interactional
C
Servant leader
D
Laissez-faire - ANSCorrect answer: Servant leader
The most common examples of leadership styles include, but are not limited to, the
following:
Servant leader: A project manager with this style usually has traits such as a focus on
others, growth, learning, shared prosperity, relationship orientation, and team
collaboration
...
Teams are left to make decisions, set goals, and
implement their own ideas in completing the assigned tasks
...
A project manager with a transactional style will usually be rigid
in implementing rules, processes, and procedures
...

Transformational: This leadership style has characteristics such as empowering the
team through ideal attributes and behaviors, inspirational motivation, encouraging
innovation and creativity, and individual consideration
...

Charismatic: The main characteristics of a leader with a charismatic style include high
energy, enthusiasm, strong belief, and self-confidence
...

Interactional: A combination of transactional, transformational, and charismatic
...

During the planning phase, the project manager and team decided to implement a
significant feature in their project, aimed at reducing overtime by 90%
...
Which term best describes this aspect of the project management process?
A
Product scope
B
Process improvement plan
C
Project title
D
Project scope - ANSCorrect answer: Process improvement plan

The correct term in this scenario is Process Improvement Plan
...
By incorporating a major
feature to reduce overtime, they are effectively executing a plan to improve the project
process
...

Product scope refers to the characteristics and functionalities of the project's end result
...

Project title is the name or identifier of the project
...
Who is responsible for providing formal notice that a
contract has been completed?
A
The stakeholders
B
The seller
C
The buyer
D
The project manager - ANSCorrect answer: The buyer
A procurement contract is created between a buyer and a seller, and the seller is the
one who is responsible for doing the work
...

Marjatta is in a conversation with a fellow project manager about stewardship within
their roles
...
This
type of behavior allows stakeholders to understand the level of commitment they can
make regarding resources, decision making, or any type of approval
...
In this context, people will understand the degree to which they can
commit resources, make decisions, or approve anything
...

Moira begins the event by illustrating the proposed iteration goals alongside reviewing
the higher-priority stories
...
They choose the effort to be
performed in the next iteration
...

An iteration planning meeting is also known as a sprint planning meeting
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Nina, along with her team, is performing vendor analysis on a narrowed list of vendors
for the project
...
The
majority of the team on that project has left the organization
...
The previous manager mentioned that the currently identified top
vendor had difficulties meeting milestones
...

This information is BEST identified as an influence on what project management
condition?
A
Project documents
B
Enterprise environmental factors
C
Work performance data
D
Organizational process assets - ANSCorrect answer: Organizational process assets
Organizational process assets are the plans, processes, policies, procedures, and
knowledge bases specific to and used by the performing organization
...
The process assets also
include the organization's knowledge bases, such as lessons learned and historical

information
...

The project team using historical data from a previous similar project is a direct
influence on organizational process assets during the Project Procurement
Management process
...
At what stage in
the project management process does this segmentation typically occur?
A
Executing
B
Monitoring & Controlling
C
Initiating
D
Planning - ANSCorrect answer: Initiating
Segmenting a large project into phases is a crucial activity that takes place during the
initiating phase of the project management process
...
This
division allows for more focused planning and execution, ensuring that each phase
aligns with the project's overall objectives and business needs
...
Revisiting the initiating
processes at the beginning of each new phase also helps maintain alignment with the
business goals that justified the project's initiation
...

Rasheed is the lead project manager for a telecommunications organization and is in
charge of training new project managers
...
In evaluating the documents, he notices a
document that does not belong in this process
...
It is not a project document
...

Shanda decided to use an iterative planning technique as a way to work a form of
progressive elaboration on her project
...
Which of the following is rolling wave
planning not applicable to?
A
Work packages
B
Cost analysis
C
Planning packages
D
Release planning - ANSCorrect answer: Cost analysis
Rolling wave planning is an iterative planning technique applicable to work packages,
planning packages, and release planning when using an Agile or waterfall approach
...
The work in the future is planned at a much higher level
...
Which leadership style does this best
represent?
A
Charismatic
B
Transactional
C
Transformational
D
Interactional - ANSCorrect answer: Charismatic
The most common examples of leadership styles include, but are not limited to, the
following:
Charismatic: The main characteristics of a leader with a charismatic style include high
energy, enthusiasm, strong belief, and self-confidence
...

Laissez-faire: Interpreted as "hands-off," this project manager's leadership style tends to
allow their team to lead themselves
...


Transactional: This style focuses on goals, feedback, and ways to determine the
rewards a person gets
...
They will even implement something
called reward and punishment so that the team is always disciplined in implementing
the values it has created
...

Transformational: This leadership style has characteristics such as empowering the
team through ideal attributes and behaviors, inspirational motivation, encouraging
innovation and creativity, and individual consideration
...

Interactional: A combination of transactional, transformational, and charismatic
...

The project charter is a very important element in the initiating process group
...
Which of the
following statements is true about the content of a project charter?
A
The content of the project charter should be adjusted to show the project's success
B
The content of the project charter should be broad enough that it does not need to be
changed
C
The content of the project charter should be detailed and updated as the project
progresses
D
The content of the project charter should be filled in as the project progresses ANSCorrect answer: The content of the project charter should be broad enough that it
does not need to be changed
A project would not exist without a project charter, and it is created to provide high-level
requirements for the project, not detailed requirements
...

The project manager informed their team that they would receive an extra day of paid
time off if they completed the project by its assigned deadline
...

This is the power that comes from the ability to provide rewards (e
...
, praise, money,
etc
...
Expert is the power of the project manager who is a technical or project
management expert
...

The project manager is considering which recognition and rewards will be given to team
members and when they will be given
...
The resource management plan is an output of the
Plan Resource Management process area and is a component of the project
management plan
...

The resource management plan may include, but is not limited to, the following:
Identification of resources
Acquiring resources
Roles and responsibilities (role, authority, responsibility, competence)
Project organization charts
Project team resource management
Training
Team development
Resource control
Recognition plan

The project manager is reviewing the current earned value report, which shows the
following:
Schedule Performance Index (SPI) = 1
...
6
Planned Value (PV) = $200,000
Schedule Variance (SV) = $40,000
What is the project's Cost Variance (CV)?
A
$125,000
B
$160,000
C
$90,000
D
$96,000 - ANSCorrect answer: $90,000
The project's Cost Variance (CV) is $90,000
...

1
...
Find the AC:
You can find AC using the CPI formula: CPI = EV / AC
1
...
6 x AC = $240,000
AC = $240,000 / 1
...
Find the Cost Variance (CV):
CV = EV - AC
CV = $240,000 - $150,000
CV = $90,000
The project manager just received approval to implement a change request
...
When a project manager
receives a change order request, the first step is to attempt to resolve the issue with
corrective action that would not change the plan or its components
...
The analysis and recommendation would be
forwarded to the project sponsor who decides whether to approve or reject the change
order request
...
If the sponsor approves the
change order request, the project manager implements it by changing the project
budget, schedule, and scope as necessary
...
Based on this
information, which process group is the project manager's project currently in?
A
Monitoring & Controlling
B
Closing
C
Executing
D
Planning - ANSCorrect answer: Closing
The project manager is in the closing process group when they have completed team
members' assessments as well as released project resources
...

The project manager started the project with a BAC of $5,000
...
What is the TCPI for the project?
A
1
...
75
C
0
...
67 - ANSCorrect answer: 0
...

To calculate the efficiency that must be maintained to complete on plan, use the
following formula:
TCPI = (BAC - EV) / (BAC - AC)
TCPI > 1
...
0 is same to complete
TCPI < 1
...
75
The TCPI shows the project manager the rate that must be sustained for the remaining
work to stay on budget
...
The project manager calculates the CPI and finds that the result is
...
What
does this mean?
A
The project is currently expected to be 76 percent over budget when completed
B
The project is ahead of schedule
C
The project is progressing at 76 percent of the planned rate
D
The project is getting back about 76 cents out of every dollar that is put into it ANSCorrect answer: The project is getting back about 76 cents out of every dollar that
is put into it
Cost Performance Index (CPI) is a measure of the cost efficiency of budgeted resources
expressed as the ratio of earned value to actual cost
...

CPI values > 1
...
0 indicate a project is on planned cost
CPI values < 1
...
76 tells the project manager that the project is only getting about 76 cents out
of every dollar that is put into it
...
Which earned value (EV) analysis technique measures the cost of completing
the remaining work against the remaining budget?
A
EAC
B
TCPI
C
CPI
D
ETC - ANSCorrect answer: TCPI
To Complete Performance Index (TCPI) is a measure of the cost performance that must
be achieved with the remaining resources to meet a specified management goal
expressed as the ratio of the cost to finish the outstanding work to the budget available
...
0 is harder to complete
TCPI = 1
...
0 is easier to complete
To calculate the efficiency that must be maintained to complete the current EAC, use
the following formula:
TCPI = (BAC - EV) / (EAC - AC)
TCPI > 1
...
0 is same to complete
TCPI < 1
...

The deliverables were designed separately, and there are different project managers
leading them
...
It is imperative that the work progresses
with the schedule maintained
...
" It is good practice
to schedule status reviews and walk-throughs to ensure the contractor reports are
accurate and complete
...

Controlling the third party's schedule is not necessarily a beneficial task and can cause
confusions as well as conflict and delays
...

What is the process of identifying project stakeholders regularly and analyzing and
documenting relevant information regarding their interest, involvement,
interdependencies, influence, and potential impact on project success?
A
Manage Stakeholder Engagement
B
Plan Stakeholder Engagement
C
Identify Stakeholders
D
Monitor Stakeholder Engagement - ANSCorrect answer: Identify Stakeholders
Identify Stakeholders is the process of identifying project stakeholders regularly and
analyzing and documenting relevant information regarding their interest, involvement,
interdependencies, influence, and potential impact on project success
...

Identify Stakeholders is a process that will be performed throughout the project as
necessary
...

Monitor Stakeholder Engagement is the process of monitoring project stakeholder
relationships and tailoring strategies for engaging stakeholders through modification of
engagement strategies and plans
...

Which of the following tools or techniques in the Control Schedule process is used to
find ways to bring project activities that are behind back into alignment with the plan by
fast-tracking or crashing project work?
A
Leads and lags
B
Schedule compression
C
Critical path method
D
Resource optimization - ANSCorrect answer: Schedule compression
Tools and techniques used during the Control Schedule process include:
Data analysis
Critical path method
Project management information system
Resource optimization
Leads and lags
Schedule compression
Schedule compression is the tool or technique used to find ways to bring project
activities that are behind back into alignment with the plan by fast-tracking or crashing
project work
...

You are a project manager for a very large company and have taken over a new project
that was in the middle of execution
...
Where is the best place to find this information? ANSCorrect Answer: Stakeholder register
It is in the stakeholder register that a project manager would find which stakeholders
have been identified as having the greatest influence over a project
...
It also captures the requirements and various expectations
they may have for the project
...
You have
determined that the project is not conforming to the product owner's backlog

requirements
...
What would have been your best course of action?
A
To have allowed the team to self-organize
B
To have told the team to submit daily action reports
C
To have created a contingency reserve
D
To have provided additional agile training to the team - ANSCorrect answer: To have
allowed the team to self-organize
In an agile or adaptive project, the team is better off self-organizing
...
A cross-functional team is not isolated to a particular task
but could benefit the entire project
...

You are conducting stakeholder analysis with the project team
...
Describing classes of
stakeholders based on their power, urgency, and legitimacy is an example of what
stakeholder classification model?
A
Salience Model
B
Power/Influence Grid Model
C
Influence/Impact Grid Model
D
Power/Interest Grid Model - ANSCorrect answer: Salience Model
There are several classification models used for stakeholder analysis
...
Salience means prominent, noticeable, or
perceived as important
...
Mitchell, Bradley R
...
Wood
...

In a power/influence grid model, stakeholders are grouped based on their level of
authority ("power") and their active involvement ("influence") in the project
...

You are evaluating the dependencies that exist currently within your risk management
plan to determine its accuracy
...
Basically, a risk audit examines and documents the
effectiveness of the risk responses
...
The risk audit also evaluates the effectiveness of the risk
management process
...
A risk
reassessment is an action taken to periodically review and adjust the documentation of
the risk management plan and risk register
...

You are in a meeting with the project team and discussing various processes in the
planning process group related to the project
...

The Planning Process Group includes all processes related to answering two questions:
"What will you do?" and "How will you do it?" These processes are as follows:
Plan Scope Management, Collect Requirements, Define Scope, Create Work
Breakdown Structure (WBS), Plan Schedule Management, Define Activities, Sequence
Activities
Estimate Activities Duration, Develop Schedule, Plan Cost Management, Estimate
Costs, Determine Budget, Plan Quality Management, Plan Resource Management
Estimate Activity Resources, Plan Communications Management, Plan Risk
Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative
Risk Analysis, Plan Risk Responses, Plan Procurement Management, and Plan
Stakeholder Engagement
Develop the Project Charter and Identify the Project Stakeholders are activities in the
initiating process group
...

You are in a meeting with the project team to determine the EMV of the project
...
Work package 2 has a
probability of 50% and an impact of $50,000
...
The formula for
EMV is Probability x Impact
...

You are in the control procurement process in the executing process group
...
Communications baseline is a fictitious baseline
...
Which of
the following is not a component of the project management plan that may be updated
as a result of the Control Procurements process?
Communications baseline
Procurement management plan
Schedule baseline
Cost baseline - ANSCommunications baseline
You are in the process of auditing the quality of a multi-phased project you are leading
...
A quality audit will not be performed to identify
additional stakeholders
...

You are leading a project that includes a multi-phased approach
...
When does the project manager arrange for the
storage of procurement records and/or drawings?
A
Close Project or Phase
B
Conduct Procurements
C
Control Procurements
D
Plan Procurement Management - ANSCorrect answer: Close Project or Phase
As part of Project Integration Management, procurements are closed through the Close
Project or Phase process
...
To close
the contract, all procurement documentation is collected, indexed, and filed
...
This
information can be used for lessons learned information and as a basis for evaluating
contractors for future contracts
...
Other items that occur during the Close
Project or Phase process include updates to records, final contract performance
reporting, and lessons learned
...
There are only three set variations of floor plans for buyers to
choose from
...

The scope of work is well defined and known completely at the start of this project, with
very little risk for scope increase
...
Because the scope of your construction
project is well defined up front with little risk to area or architectural changes, and the
buyer has precisely specified the requirements of the project, establishing a firm fixed
price contract would be the best option for this project
...
Fixed-price contracts include Firm Fixed Price (FFP), Fixed-Price
Incentive Fee (FPIF), and Fixed Price with Economic Price Adjustment (FP-EPA),
among others
...

In a Cost Plus Incentive Fee contract (CPIF), the seller is reimbursed for all allowable
costs for performing the contract work and receives a predetermined incentive fee
based upon achieving certain performance objectives as set forth in the contract
...
They are often
used for staff augmentation, acquisition of experts, and any outside support when a
precise statement of work cannot be quickly prescribed
...
If Earned Value (EV) is $500, Actual Cost (AC) is $400, and Budget to
Completion (BAC) is $1,000, what is the Variance at Completion (VAC) if one assumes
that future work will be accomplished at the planned rate?
A
600
B
500
C
900
D
100 - ANSCorrect answer: 100
The Variance At Completion (VAC) is a projection of the amount of budget deficit or
surplus expressed as the difference between the budget at completion and the estimate
at completion
...

Positive = Under planned cost
Neutral = On planned cost
Negative = Over planned cost
This question requires you to find the Estimate At Completion (EAC) before you can
solve for VAC
...

VAC = BAC - EAC
VAC = $1,000 - $900
VAC = $100
You are the project manager for a technology company working on a project to create a
smaller, thinner cell phone design
...

This is an example of what type of document?
A
Work breakdown structure
B
Business need
C
Statement of work
D

Product scope description - ANSCorrect answer: Product scope description
The product scope description is part of the project scope statement
...
In this case, the document being described includes the
characteristics of the product that needs to be created; therefore, it is the scope
description
...
To resolve their latest conflict, you help them come to a conclusion that
uses a little of each of their ideas
...
Each technique has its unique
place and use:
Collaborate/problem solve: Incorporating multiple viewpoints and insights from differing
perspectives; requires a cooperative attitude and open dialogue
...

Withdraw/avoid: Retreating from an actual or potential conflict situation; postponing the
issue to be better prepared or to be resolved by others
...

Compromise/reconcile: Searching for solutions that bring some degree of satisfaction to
all parties to temporarily or partially resolve the conflict
...

Force/direct: Pushing one's viewpoint at the expense of others; offering only win-lose
solutions, usually enforced through a power position
...

While similar to smooth/accommodate, the conflict management technique being used
in this scenario is collaborate/problem solve, which is used to get to the root of an issue
so that it will lead to consensus and commitment
...
What is a technique that
could be used to bridge the gap between the physical distance between Agile team
members?
A

Team collaboration
B
Continuous integration
C
Fishbowl windows
D
Pair programming - ANSCorrect answer: Fishbowl windows
Adaptive and Agile practices promote co-located teams, where, at times, you will come
across teams that are geographically distributed
...
This involves setting up video conferencing links between
geographically distributed teams
...
You are informed by the tech lead that to finish the development
phase, the development team will either need to augment with one additional resource
or extend their original estimate by two weeks
...
You communicate this change through the proper
channels to all stakeholders
...
These changes
(and their impact on the project in terms of time, cost, and risk) are communicated to the
appropriate stakeholders
...
A change can be a modification to any formally
controlled deliverable, project management plan component, or project document
...
Because the issue was properly
brought up to the project sponsor, approved, and communicated as an official change, it
should be logged in the change log
...
The stakeholder register only holds information on the various
stakeholders in the project and would not include official project changes
...
Which of the following best describes the
reason to conduct a cost-benefit analysis?
A
Participate in the development of the project charter by compiling and analyzing
gathered information to ensure project stakeholders are in agreement on its elements
B
Conduct an analysis using appropriate tools and techniques to align expectations and
gain support for the project
C
Validate project alignment with organizational strategy and expected business value
D
Identify high-level risks, assumptions, and constraints based on the current
environment, organizational factors, historical data, and expert judgment to propose an
implementation strategy - ANSCorrect answer: Validate project alignment with
organizational strategy and expected business value
Performing a cost-benefit analysis is an effective way to analyze the value of the project
with the project sponsor and stakeholders and ensure the project is in line with the
overall operational strategy of the organization
...
Its purpose is to evaluate the merits and drawbacks of various alternatives, aiding
in the selection of the most advantageous option in terms of benefits
...
Essentially, this analysis
provides a clear comparison between the expenses involved in an activity and the
anticipated gains it is expected to yield
...
Which of the following is true
regarding scope in an Agile environment?
A
Scope is defined and approved prior to the start of the project
B
Scope is not defined during the project
C
Scope is defined and redefined throughout the project
D
Scope is defined once during project planning - ANSCorrect answer: Scope is defined
and redefined throughout the project
Agile environments purposely spend less time trying to define and agree on scope;
therefore, the scope is defined and redefined throughout the project
...


You have just been assigned to a new project and are working at the beginning stages
...
This task is completed in what
process group?
A
Planning
B
Executing
C
Monitoring & Controlling
D
Initiating - ANSCorrect answer: Initiating
There are eight tasks associated with the Initiating the Project process group
...

The Initiating Process Group also includes establishing the business success criteria
that will be the metrics used to answer the question "How will you know you did it?"
You have just been promoted to project manager for your organization
...
Which of the following is not an example of the management skills you will use
as a project manager?
A
Negotiating agreements to satisfy the project needs
B
Influencing people to support the project
C
Facilitating consensus toward project objectives
D
Overcoming resistance to change - ANSCorrect answer: Overcoming resistance to
change
Management skills used by the project manager include, but are not limited to, the
following:
Facilitate consensus toward project objectives
Influence people to support the project
Negotiate agreements to satisfy the project needs
Modify organizational behavior to accept the project outcomes
Overcoming resistance to change is an example of an interpersonal skill used by the
project manager, not a management skill
...
As the project manager, which
document would you refer to for information regarding how project requirements will be
analyzed?
A
Requirements management plan
B
Scope management plan
C
Requirements traceability matrix
D
Requirements documentation - ANSCorrect answer: Requirements management plan
As the project manager, you would refer to the requirements management plan
...

The requirements traceability matrix is a grid that links product requirements with the
deliverables that will satisfy the requirements
...
The
scope management plan describes how the project scope will be defined, developed,
monitored and controlled, and verified
...

Which process improves the efficiency of the risk approach throughout the project
lifecycle to continuously optimize risk responses?
A
Control Scope
B
Perform Integrated Change Control
C
Control Quality
D
Monitor Risks - ANSCorrect answer: Monitor Risks
Monitor Risks is the process of monitoring the implementation of risk response plans,
tracking identified risks, identifying new risks, and evaluating risk process effectiveness
throughout the project
...

You manage a team of remote workers who are dispersed geographically throughout
the world and in different time zones
...
With that goal in mind, you request permission from your organizational
leaders to purchase and implement a new highly sophisticated video conferencing
system
...
Project information is managed
and distributed using a variety of tools, including:
Electronic project management tools: project management software, meeting and virtual
office support software, web interfaces, project portals and dashboards, and
collaborative work management tools
Electronic communications management: email, fax, voicemail; audio, video, and web
conferencing; websites and web publishing
Social media management: websites and web publishing; blogs, and applications
Using video conferencing to talk to team members is an example of electronic
communications management
...

You've recently joined a new Agile project, and the product owner invited you to a
meeting to discuss the project's requirements
...
How should you respond to aligning with Agile
practices?
A
Detailed estimates are subject to change as the requirements of the project change and
evolve
...

C
Detailed estimates are best suited for short-term planning, applied in a just-in-time
approach
...
- ANSCorrect answer: Detailed estimates are best suited for short-term
planning, applied in a just-in-time approach
...
Agile methodologies
advocate for a just-in-time approach to estimation, focusing on immediate and near-

future work, as this allows for more precise and relevant estimates in environments
where long-term forecasts are often impractical due to high variability and evolving
scopes
...
This strategy ensures that estimates remain accurate and
relevant, reflecting the current understanding of the project and accommodating the fluid
nature of Agile projects

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