The following PMP® exam sample question is taken from the Free PMP Exam Simulator at http://free.pm-exam-simulator.com - The answer is at the very bottom:

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You are managing a software development project. Your project team has developed a software product with many features but poorly organized documentation. Which of the following is correct in this scenario?

A.) It has low grade but high quality

B.) It has high grade but low quality

C.) It has high grade and high quality

D.) It has low grade and low quality

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Hint: Grade and quality are not the same. Grade is a category assigned to products, whereas quality is "the degree to which a set of inherent characteristics fulfill requirements".

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ANSWER AND EXPLANATION:
The correct answer is B
Explanation: It has high grade and low quality. Quality is the degree to which a set of inherent characteristics fulfill requirements. Grade is a category assigned to products or services having the same functional use but different technical characteristics.
Reference: PMBOK4 - pg:190