Product Management Practice Exam

Product Management Practice Exam

About Product Management
Product management is an organisational function within a company dealing with new product development, business justification, planning, verification, forecasting, pricing, product launch, and marketing of a product or products at all stages of the product lifecycle.

Product management is an organizational function that guides every step of a product’s lifecycle: from development, to positioning and pricing, by focusing on the product and its customers first and foremost. To build the best possible product, product managers advocate for customers within the organization and make sure the voice of the market is heard and heeded.

Why is Product Management important?
Product management helps in gauging the changing needs of customers. As product managers regularly interact with existing customers and are on the lookout for new ones, they usually get to know the pain points first and give the product development team the lead for a new product.

Product Managers are essentially the backbone for a company, or business. Not only do they monitor every team, and ensure everything being completed on is track, from the initialization of a product to the release of the product, but they also present the products to the stakeholders, and executives.

Who should take the Product Management Exam?
•    Product management professionals
•    Entrepreneurs
•    Innovators
•    Anyone who wants to assess their product management skills
•    Product managers and senior executives
•    Professionals working in outsourced companies responsible for product management
•    Students
 

Knowledge and Skills required for the Product Management

Candidates gain quick success if they have skills of critical thinking and good communication skills.

Product Management Certification Course Outline

Module 1: Introduction to Product Management

• What is product management?
• Roles & responsibilities of a product manager
• Product manager vs. project manager vs. product owner
• Product lifecycle overview

Module 2: Product Strategy & Vision

• Defining product vision, mission, and goals
• Understanding business models & value propositions
• Market research & competitive analysis
• Aligning product strategy with company objectives
• Case study questions on vision & strategy

Module 3: Customer & Market Research

• Customer discovery techniques (interviews, surveys, focus groups)
• Market segmentation & targeting
• Personas & customer journey mapping
• Identifying pain points and opportunities
• Practice questions on user personas & problem statements

Module 4: Roadmapping & Prioritization

• Creating and managing product roadmaps
• Prioritization frameworks (RICE, MoSCoW, Kano model, Value vs. Effort matrix)
• Balancing short-term wins with long-term vision
• Practice scenarios: Choosing features for MVPs

Module 5: Agile & Product Development Frameworks

• Agile, Scrum, and Kanban in product management
• Writing effective user stories & acceptance criteria
• Role of PM in sprint planning & backlog refinement
• MVP definition and iteration cycles
• Exam-style Agile practice questions

Module 6: Product Design & UX Fundamentals

• Human-centered design principles
• Wireframing & prototyping basics
• Collaborating with design teams
• A/B testing and usability testing
• Case-based questions on UX trade-offs

Module 7: Metrics & Analytics

• Key product metrics: DAU/MAU, churn, NPS, CLV, CAC
• AARRR funnel (Acquisition, Activation, Retention, Referral, Revenue)
• Defining success metrics for product features
• Using analytics tools (Google Analytics, Mixpanel, Amplitude)
• Practice exam questions on metrics & KPIs

Module 8: Go-to-Market Strategy

• Launch planning and execution
• Positioning and messaging frameworks
• Sales enablement and marketing collaboration
• Post-launch feedback & iteration
• Practice scenarios: Launch strategy decisions

Module 9: Stakeholder Management & Communication

• Working with cross-functional teams (engineering, design, sales, marketing)
• Handling conflicting priorities
• Effective communication & storytelling
• Building influence without authority
• Exam-style role-play questions

Module 10: Financial & Business Acumen

• Understanding P&L and unit economics
• Pricing models & revenue strategies
• Budgeting and resource allocation
• ROI calculation for product features
• Practice exam questions on pricing & ROI

Exam Format and Information
Certification name – Product Management Certification
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199