Product Manager Certification – AIPMM Exam |Questions with
Correct Answers| Latest Update
Agile - ✔✔An umbrella term used to describe a group of iterative incremental product
development principles and methodologies that support the Agile Manifesto
Agile Manifesto - ✔✔A conceptual framework that emphasizes four central values and twelve
supplemental principles encompassing an iterative and people orientated approach to product
development. (Also called the Manifesto for Agile Software Development.)
Agile Theory - ✔✔Holds that Agile is designed to follow a non-linear path more closely
approximated to that of new product development instead of the more predictable path of
manufacturing, which typically follows a serial process.
Alpha Test - ✔✔Alpha test is the first formal test of a newly developed hardware or software
product by internal people. The key objectives of the alpha test are functionality confirmation
and bug identification. When the first round of bugs has been fixed, the product goes into beta
test with actual users and customers.
Ansoff Matrix - ✔✔Analytical tool that helps managers to devise their product and market
growth strategies
Behavioral Design - ✔✔Creating a cohesive conceptual model for the product that is easy to
learn and understand. Behavioral design meshes the task requirements of a product with the
skills, knowledge, and capabilities of the intended users.
Beta Plan - ✔✔Alignment around the purpose of the beta test; clarifies the goals of the testing to
be performed and the logistics of how the test is to be conducted.
Beta Test - ✔✔A formal, structured, and controlled test of a new product or product capability in
order to determine market readiness.
,Body of Knowledge (BOK) - ✔✔A Body of Knowledge codifies the concepts, definitions,
processes, and activities of a given profession.
Boston Consulting Group Market-Share Matrix (BCG Matrix) - ✔✔A commonly used growth-
share framework that categorizes products within a company's portfolio according to growth rate,
market share, and positive or negative cash flow.
Boundary Role - ✔✔A position or role that sits at the intersection of two points. In the case of
product management, between the needs of the market and those of the organization.
Brainstorming - ✔✔A commonly used technique for developing creative solutions to problems
or to generate new ideas.
Brand - ✔✔An identifying mark, label, trademark, imprint, or name that distinguishes the
originator, creator, or manufacturer of a product or service.
Branding - ✔✔Originating, building, improving, and safeguarding a name or symbol
representing a specific product or service.
Brand Equity - ✔✔The quality associated with a brand based on value assessed over a
significant period of time; the affirmative perception of a brand or service based on customer
loyalty and the positive reputation of a service or product.
Brand Extension - ✔✔Introducing a new or improved product by associating it with an
established brand image.
Brand Identity - ✔✔A logo, slogan, moniker, or mark associated with a product or service by
consumers that sets it apart from competitors.
Brand Positioning - ✔✔Optimizing a brand by having a clear concept of its strongest points and
placing it among similar products to accentuate its superiority and uniqueness in relation to
competitors.
, Burndown Chart - ✔✔A visual tool used by Agile product development teams that represents the
amount of work left to do versus time.
Business Analysis - ✔✔The practice of analyzing business needs and identifying viable solutions
in order to enable organizational change and deliver value to stakeholders.
Business Analyst - ✔✔An individual that uses a prescribed set of business analysis tools and
techniques to understand business needs and identify viable solutions that will maximize the
value delivered by an organization to its stakeholders.
Business Case - ✔✔A well-structured document that provides the overall justification for a
product or product investment and clearly demonstrates a cost benefit analysis.
Buyer - ✔✔A person or organization that acquires or seeks to acquire a product or service in
exchange for money or some other consideration.
Buyer Personas - ✔✔A representation of a specific group or groups of buyers who influence or
make purchasing decisions about a product. Buyer personas are used to make informed product,
marketing, and sales channels decisions.
Category Extension - ✔✔The use of an existing or parent brand to launch products in other
categories.
Channel Conflict - ✔✔A situation resulting from the producer of a product competing, either
inadvertently or through intent, with other parties distributing the same product to a targeted
group of customers.
Closeout - ✔✔Refers to the processes used by a project manager to bring a project or project
phase to an organized and well-planned conclusion.
Correct Answers| Latest Update
Agile - ✔✔An umbrella term used to describe a group of iterative incremental product
development principles and methodologies that support the Agile Manifesto
Agile Manifesto - ✔✔A conceptual framework that emphasizes four central values and twelve
supplemental principles encompassing an iterative and people orientated approach to product
development. (Also called the Manifesto for Agile Software Development.)
Agile Theory - ✔✔Holds that Agile is designed to follow a non-linear path more closely
approximated to that of new product development instead of the more predictable path of
manufacturing, which typically follows a serial process.
Alpha Test - ✔✔Alpha test is the first formal test of a newly developed hardware or software
product by internal people. The key objectives of the alpha test are functionality confirmation
and bug identification. When the first round of bugs has been fixed, the product goes into beta
test with actual users and customers.
Ansoff Matrix - ✔✔Analytical tool that helps managers to devise their product and market
growth strategies
Behavioral Design - ✔✔Creating a cohesive conceptual model for the product that is easy to
learn and understand. Behavioral design meshes the task requirements of a product with the
skills, knowledge, and capabilities of the intended users.
Beta Plan - ✔✔Alignment around the purpose of the beta test; clarifies the goals of the testing to
be performed and the logistics of how the test is to be conducted.
Beta Test - ✔✔A formal, structured, and controlled test of a new product or product capability in
order to determine market readiness.
,Body of Knowledge (BOK) - ✔✔A Body of Knowledge codifies the concepts, definitions,
processes, and activities of a given profession.
Boston Consulting Group Market-Share Matrix (BCG Matrix) - ✔✔A commonly used growth-
share framework that categorizes products within a company's portfolio according to growth rate,
market share, and positive or negative cash flow.
Boundary Role - ✔✔A position or role that sits at the intersection of two points. In the case of
product management, between the needs of the market and those of the organization.
Brainstorming - ✔✔A commonly used technique for developing creative solutions to problems
or to generate new ideas.
Brand - ✔✔An identifying mark, label, trademark, imprint, or name that distinguishes the
originator, creator, or manufacturer of a product or service.
Branding - ✔✔Originating, building, improving, and safeguarding a name or symbol
representing a specific product or service.
Brand Equity - ✔✔The quality associated with a brand based on value assessed over a
significant period of time; the affirmative perception of a brand or service based on customer
loyalty and the positive reputation of a service or product.
Brand Extension - ✔✔Introducing a new or improved product by associating it with an
established brand image.
Brand Identity - ✔✔A logo, slogan, moniker, or mark associated with a product or service by
consumers that sets it apart from competitors.
Brand Positioning - ✔✔Optimizing a brand by having a clear concept of its strongest points and
placing it among similar products to accentuate its superiority and uniqueness in relation to
competitors.
, Burndown Chart - ✔✔A visual tool used by Agile product development teams that represents the
amount of work left to do versus time.
Business Analysis - ✔✔The practice of analyzing business needs and identifying viable solutions
in order to enable organizational change and deliver value to stakeholders.
Business Analyst - ✔✔An individual that uses a prescribed set of business analysis tools and
techniques to understand business needs and identify viable solutions that will maximize the
value delivered by an organization to its stakeholders.
Business Case - ✔✔A well-structured document that provides the overall justification for a
product or product investment and clearly demonstrates a cost benefit analysis.
Buyer - ✔✔A person or organization that acquires or seeks to acquire a product or service in
exchange for money or some other consideration.
Buyer Personas - ✔✔A representation of a specific group or groups of buyers who influence or
make purchasing decisions about a product. Buyer personas are used to make informed product,
marketing, and sales channels decisions.
Category Extension - ✔✔The use of an existing or parent brand to launch products in other
categories.
Channel Conflict - ✔✔A situation resulting from the producer of a product competing, either
inadvertently or through intent, with other parties distributing the same product to a targeted
group of customers.
Closeout - ✔✔Refers to the processes used by a project manager to bring a project or project
phase to an organized and well-planned conclusion.
