NCMA CPCM Practice Exam Prep
NCMA CPCM PRACTICE EXAM PREP NEWEST 2026/2027
ACTUAL EXAM COMPLETE 200 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED
A+||BRAND NEW VERSION!!
The literal interpretation of the words of a law, which is not necessarily the intent
of those who wrote the law, is called what?
-The spirit of the law
-The letter of the law
-The restatement of the law
-The rule of law
The letter of the law
Total assets minus total liabilities equals what?
-Net revenue
-Liquid capital
-Bottom line
-Shareholders' equity
Shareholders' equity
The process of ensuring that all contract performance has been accomplished,
final payment has been made, and the contract has been reconciled, is called
what?
-Closeout
-Termination
-Invoicing
-Physical completion
Closeout
1|Page
, NCMA CPCM Practice Exam Prep
Under UCC rules, what may contract modifications not be used for?
-To escape performance obligations under the contract
-To change the delivery location of goods purchased
-To change the price of goods repeatedly delivered under a supply contract
-To delegate to a third party the responsibility for transporting goods to the buyer
To escape performance obligations under the contract
Two potential offerors for the same solicitation agree to enter into a partnership
with the express purpose of obtaining a contract with the buyer. This is an
example of what?
-A teaming agreement
-A conflict of interest
-Risk management
-A principal-agent relationship
A teaming agreement
Which of the following is an example of a record?
-Sole source justification memo
-Executed contract
-Email correspondence explaining the rationale for a decision.
-Official company information
Executed contract
The "bottom line" of an income statement shows what?
-The company's net earnings or losses
-The company's liabilities
-The company's gross revenues
-The company's operating expenses
The company's net earnings or losses
Quality assurance data that is measured or documented mathematically, such as
the revolutions per minute of a motor, is what kind of data?
-Subjective
2|Page
, NCMA CPCM Practice Exam Prep
-Objective
-Process-based
-Defective
Objective
Products and services, promotion, price, and distribution are the four components
of what?
-A financing program
-A quality-assurance program
-A needs assessment
-A marketing program
A marketing program
The concept which entitles the seller, upon shipment, to the acceptance of goods
and to payment according to the terms of the contract, is called what?
-Course of performance
-Warranty
-Tender
-Authorization and appropriation
Tender
Specific enforcement, following the breach of a contract, requires the party that
breached the contract to do what?
-Repay the monetary value they received from the aggrieved party for partial
contract performance
-Compensate the aggrieved party for any expenses or losses required to place
them in the same position they were in before signing the contract
-Complete contract performance
-Pay interest
Complete contract performance
Standardized contract language often used in commercial transactions is called
what?
3|Page
, NCMA CPCM Practice Exam Prep
-Terms and conditions
-Boilerplate
-Gap fillers
-Adequate assurances
Boilerplate
Sellers typically include this document --which itemizes individual components
incorporated into an end product, along with their quantities and costs -- in an
offer.
-Bill of lading
-Bill of materials
-Bill of sale
-Bill of attainder
Bill of materials
The contract management strategy is designed to: - Generate a solicitation
package that reflects the requirements
-Delineate the necessary terms and conditions for the contract
-Allow buyer and seller to agree on a fair price with an acceptable level of risk
-Determine a fair price based on the complexity of the requirement
Allow buyer and seller to agree on a fair price with an acceptable level of risk
The contract management landscape is constantly being shaped and reshaped by
outside forces. How would a contracting professional who understands the
CMBOK deal with this?
-By doing whatever he or she can to prevent the organization from changing
-By acknowledging that change is inevitable and being willing to adapt
-By delegating responsibility for change management
-By avoiding operating requirements that seem out of the ordinary
By acknowledging that change is inevitable and being willing to adapt
Mermaid Dynamics is a manufacturer of nuclear submarines. The company sells to
only one customer the U.S. federal government. What type of competition is this?
4|Page
NCMA CPCM PRACTICE EXAM PREP NEWEST 2026/2027
ACTUAL EXAM COMPLETE 200 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED
A+||BRAND NEW VERSION!!
The literal interpretation of the words of a law, which is not necessarily the intent
of those who wrote the law, is called what?
-The spirit of the law
-The letter of the law
-The restatement of the law
-The rule of law
The letter of the law
Total assets minus total liabilities equals what?
-Net revenue
-Liquid capital
-Bottom line
-Shareholders' equity
Shareholders' equity
The process of ensuring that all contract performance has been accomplished,
final payment has been made, and the contract has been reconciled, is called
what?
-Closeout
-Termination
-Invoicing
-Physical completion
Closeout
1|Page
, NCMA CPCM Practice Exam Prep
Under UCC rules, what may contract modifications not be used for?
-To escape performance obligations under the contract
-To change the delivery location of goods purchased
-To change the price of goods repeatedly delivered under a supply contract
-To delegate to a third party the responsibility for transporting goods to the buyer
To escape performance obligations under the contract
Two potential offerors for the same solicitation agree to enter into a partnership
with the express purpose of obtaining a contract with the buyer. This is an
example of what?
-A teaming agreement
-A conflict of interest
-Risk management
-A principal-agent relationship
A teaming agreement
Which of the following is an example of a record?
-Sole source justification memo
-Executed contract
-Email correspondence explaining the rationale for a decision.
-Official company information
Executed contract
The "bottom line" of an income statement shows what?
-The company's net earnings or losses
-The company's liabilities
-The company's gross revenues
-The company's operating expenses
The company's net earnings or losses
Quality assurance data that is measured or documented mathematically, such as
the revolutions per minute of a motor, is what kind of data?
-Subjective
2|Page
, NCMA CPCM Practice Exam Prep
-Objective
-Process-based
-Defective
Objective
Products and services, promotion, price, and distribution are the four components
of what?
-A financing program
-A quality-assurance program
-A needs assessment
-A marketing program
A marketing program
The concept which entitles the seller, upon shipment, to the acceptance of goods
and to payment according to the terms of the contract, is called what?
-Course of performance
-Warranty
-Tender
-Authorization and appropriation
Tender
Specific enforcement, following the breach of a contract, requires the party that
breached the contract to do what?
-Repay the monetary value they received from the aggrieved party for partial
contract performance
-Compensate the aggrieved party for any expenses or losses required to place
them in the same position they were in before signing the contract
-Complete contract performance
-Pay interest
Complete contract performance
Standardized contract language often used in commercial transactions is called
what?
3|Page
, NCMA CPCM Practice Exam Prep
-Terms and conditions
-Boilerplate
-Gap fillers
-Adequate assurances
Boilerplate
Sellers typically include this document --which itemizes individual components
incorporated into an end product, along with their quantities and costs -- in an
offer.
-Bill of lading
-Bill of materials
-Bill of sale
-Bill of attainder
Bill of materials
The contract management strategy is designed to: - Generate a solicitation
package that reflects the requirements
-Delineate the necessary terms and conditions for the contract
-Allow buyer and seller to agree on a fair price with an acceptable level of risk
-Determine a fair price based on the complexity of the requirement
Allow buyer and seller to agree on a fair price with an acceptable level of risk
The contract management landscape is constantly being shaped and reshaped by
outside forces. How would a contracting professional who understands the
CMBOK deal with this?
-By doing whatever he or she can to prevent the organization from changing
-By acknowledging that change is inevitable and being willing to adapt
-By delegating responsibility for change management
-By avoiding operating requirements that seem out of the ordinary
By acknowledging that change is inevitable and being willing to adapt
Mermaid Dynamics is a manufacturer of nuclear submarines. The company sells to
only one customer the U.S. federal government. What type of competition is this?
4|Page
