NPMA CPPS Certification exam
Questions With Complete Solutions
Property Management - CORRECT ANSWERS The exercise of a retaining or governing
influence over the acquisition, use, and disposition of personal property
Property Control Variety of Names - CORRECT ANSWERS Property Accounting, Fixed Asset
Accounting, Inventory Control, Material, Property Control, Asset Management.
Property Management Office PMO - CORRECT ANSWERS Department within an org that is
responsible for controlling or managing property
Property Manager - CORRECT ANSWERS PMO is headed by
Property Manager is responsible for: - CORRECT ANSWERS establishing, guiding, managing,
and maintaining an efficient property system, communicating effectively with other departments and
functions, and developing and presenting training in property related subjects
Property Control System is comprised of - CORRECT ANSWERS Property Management
Personnel, processes, and mgmt info. systems (MIS). (Written policies, procedures, operational
guidelines, and related records, and MIS that facilitates these functions).
If org contracts with the government, property manager must - CORRECT ANSWERS have a
working relationship with all sponsor reps
Ownership - CORRECT ANSWERS Having legal or rightful title to property
either owned by the org or is provided by a sponsor under some kind of agreement (sponsor has
ownership). - CORRECT ANSWERS Property is either owned by or provided.
, Ownership of property allows the owner to - CORRECT ANSWERS make any and all decisions
regarding the property
It is the property professional job to support the property owner in - CORRECT ANSWERS
making and implementing effective decisions regarding the property
Duties, responsibilities, and potential penalties should be - CORRECT ANSWERS documented
in a formal agreement between the provider and the recipient (contract, grant)
Accountability - CORRECT ANSWERS means to posses and have use of the property of
another with delegated duties and responsibilities, subject to penalty in case of default.
Those accountable - CORRECT ANSWERS do not have legal or rightful title to the property
Key elements of property accountability - CORRECT ANSWERS provider, recipient, specific
duties and responsibilities, and penalties in case of default
Who is accountable to who for property? - CORRECT ANSWERS Contractor is accountable to
government. If gov. provides funding to acquire the property, NASA is accountable to government.
Transfer of accountability - CORRECT ANSWERS When accountability shifts from one entity
to another.... may or may not include physical relocation of assets, but will always include a change in
accountability for the property
Approvals for giving and accepting orgs - CORRECT ANSWERS both must have appropriate
levels of mgmt authority approval, and both contracting officers need to approve
Questions With Complete Solutions
Property Management - CORRECT ANSWERS The exercise of a retaining or governing
influence over the acquisition, use, and disposition of personal property
Property Control Variety of Names - CORRECT ANSWERS Property Accounting, Fixed Asset
Accounting, Inventory Control, Material, Property Control, Asset Management.
Property Management Office PMO - CORRECT ANSWERS Department within an org that is
responsible for controlling or managing property
Property Manager - CORRECT ANSWERS PMO is headed by
Property Manager is responsible for: - CORRECT ANSWERS establishing, guiding, managing,
and maintaining an efficient property system, communicating effectively with other departments and
functions, and developing and presenting training in property related subjects
Property Control System is comprised of - CORRECT ANSWERS Property Management
Personnel, processes, and mgmt info. systems (MIS). (Written policies, procedures, operational
guidelines, and related records, and MIS that facilitates these functions).
If org contracts with the government, property manager must - CORRECT ANSWERS have a
working relationship with all sponsor reps
Ownership - CORRECT ANSWERS Having legal or rightful title to property
either owned by the org or is provided by a sponsor under some kind of agreement (sponsor has
ownership). - CORRECT ANSWERS Property is either owned by or provided.
, Ownership of property allows the owner to - CORRECT ANSWERS make any and all decisions
regarding the property
It is the property professional job to support the property owner in - CORRECT ANSWERS
making and implementing effective decisions regarding the property
Duties, responsibilities, and potential penalties should be - CORRECT ANSWERS documented
in a formal agreement between the provider and the recipient (contract, grant)
Accountability - CORRECT ANSWERS means to posses and have use of the property of
another with delegated duties and responsibilities, subject to penalty in case of default.
Those accountable - CORRECT ANSWERS do not have legal or rightful title to the property
Key elements of property accountability - CORRECT ANSWERS provider, recipient, specific
duties and responsibilities, and penalties in case of default
Who is accountable to who for property? - CORRECT ANSWERS Contractor is accountable to
government. If gov. provides funding to acquire the property, NASA is accountable to government.
Transfer of accountability - CORRECT ANSWERS When accountability shifts from one entity
to another.... may or may not include physical relocation of assets, but will always include a change in
accountability for the property
Approvals for giving and accepting orgs - CORRECT ANSWERS both must have appropriate
levels of mgmt authority approval, and both contracting officers need to approve
