ANSWERS
1. What institute worked to facilitate the growing trend of Government agencies' use of volu
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ntary consensus standards created by the private sector as an alternative to agency develo
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ped standards? (pg.1-2)
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a. COTCO
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b. OMB Circular A-119
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c. NIST
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d. ANSI - ansd. ANSI
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2. To be classified as a voluntary consensus standard, the standard must be developed wit
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hin what? (pg.1-2)
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a. criteria and process
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b. timeframe
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c. specifications
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d. practice and methods - ansa. criteria and process
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3. When the Work Item (draft standard) has been completed, the individual or Task Group
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will send it to __________. (pg.1-4)
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a. COTCO
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b. ASTM
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c. E-53 Chairperson
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d. ANSI - ansb. ASTM
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4. OMB Circular A119 states that voluntary consensus standard bodies are "domestic or int
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ernational organizations which develop, establish, coordinate, and __________ using agre
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ed-upon procedures." (pg.1-2) cx cx cx
a. Process
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b. Openness
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c. Plan
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d. Encompass - ansc. Plan
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Having a standard to reference during a review or audit will provide a strong foundation to e
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nsure what? (pg.1-5) cx cx cx
a. compliance
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b. evidence
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c. traceability
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d. completed procedures - ansa. compliance
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What is the Requirements Determination process of identifying and justifying property?
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(pg. 2-1)
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a. job levels and expenditures
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, b. expenditures ratios and misappropriations
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c. supply and demand
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d. future property acquisitions and providing the necessary funds -
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ansd. future property acquisitions and providing the necessary funds
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When the asset base exceeds __________ in value, even small reductions in the cost of ac
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quiring and holding property can have a greater impact than larger gains in productivity. (pg
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. 2-2)
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a. budget allocations
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b. annual payroll
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c. capital assets
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d. balance sheet - ansb. annual payroll
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What process must take into account current and future commitments to provide equipmen
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t and facilities to support current contract obligations and customer needs? (pg. 2-2)
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a. Capital Planning Process
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b. Capital Budget Review
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c. Creation of the Final Budget
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d. Determination of Capital Items - ansa. Capital Planning Process
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A property manager must plan and schedule a periodic analysis of new personal property it
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ems, whose acquisition could result in lower total costs to the government through longer s
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ervice life, greater productivity, and _________: (pg. 2-5)
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a. budget analysis
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b. reduced maintenance cost
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c. prioritization
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d. process - ansb. reduced maintenance cost
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During creation of the final budget, a list of all approved capital projects is sent to each resp
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ective department. There are key data elements to be included when purchase requiremen
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ts are initiated: Purchase account key (charge numbers), asset category, and __________
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_____. (pg. 2-4) cx cx cx
a. Substitutions
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b. Creation of the final budget
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c. Depreciation expense account number
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d. Prioritization - ansc. Depreciation expense account number
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1. A key characteristic of a consumable is that it is considered to be "consumed" at the point
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of ___________. (pg. 3-2)
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a. receipt cx cx
b. installation
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c. issue cx cx
d. replacement - ansc. issue
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2. What is an example of an expendable item and which would be considered consumable?
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(pg. 3-2)
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