CPPB 2023 Test Questions with Correct Answers

CPPB 2023 Test Questions with Correct Answers Kickbacks, bribery, and anti-competitive practices. - Answer-Issues that criminal law in governmental purchasing address. Full payment; advance payments; partial payments; progress payments; assignment of payment. - Answer-Methods for paying invoices. Describes the requirement; request purchasing to make a purchase; authorizes commitment of funds; provides a record that can be audited. - Answer-Four main purposes of a purchase requisition. Seven elements of a purchase requisition are? - Answer-What's needed; estimated cost; originator; date originated; account to be charged; authorizing signature; controlling unique number. Good specification contains four elements. what are they? - Answer-Minimum requirement; maximum competition; methods for testing; obtaining best value at the lowest possible price. Title passes when goods leave plant; purchaser owns the goods in transit and pays freight. - Answer-FOB shipping point (point of origin), freight collect. Title passes when goods leave plant; supplier pays freight and adds freight to invoice, purchaser owns in transit. - Answer-FOB shipping point, freight prepaid and allowed. Title passes when goods leave plant; vendor pays freight and adds freight to invoice. - Answer-FOB point of origin, freight prepaid and added. Title passes at destination; purchaser pays freight; vendor owns goods in transit and files claim. - Answer-FOB destination, freight collect. Title passes at destination; vendor pays freight and adds it to invoice; vendor owns goods in transit. - Answer-FOB destination, freight prepaid and added. Title passes at destination; vendor pays freight, owns goods in transit, files claims. - Answer-FOB destination, freight prepaid and allowed. Incoterms - Answer-International shipping terms Prohibits unfair competition; created the Federal Trade Commission which prosecutes conduct that restrains trade. - Answer-Federal Trade Commission Act Offer and acceptance; definiteness; consideration; Mutuality of Obligation (related to consideration) capacity of the parties; legality of purpose. - Answer-Elements of a contract Offer and acceptance - Answer-The process by which persons reach agreement; Offer: involves a promise to door not to do a specified thing; Acceptance: when the person exchanges his own promise or performance for the promise made in the offer.