Questions and Answers All
Correct
When selecting maintenance software, you should allow for what type of records? -
Answer-Multiple Service Requirements
What results in cost savings, preventing downtime and reduced production? - Answer-
Maintenance plan
What best describes a Maintenance Plan? - Answer-Items requiring regularly-scheduled
inspection and service should be scheduled for recall via a systematic process
What is the role of the physical inventory? - Answer-To ensure assets recorded in the
property system physically exist c. To ensure materials in storage have not exceeded
their established shelf-life
Which equipment is more prone to loss other than theft? - Answer-Roving Equipment
What is the factor that largely determines the frequency of a physical inventory? -
Answer-Type of property
Periodic inventories are based on what factors if not mandated by specific contract
language? - Answer-Type, location, and value of the property
Which type of physical inventory would one use if a 100% inventory is not cost effective
or used for low cost consumable items? - Answer-Statistical Sampling
The Property Manager must establish support and maintain the utilization program by
actively participating in the management processes that establish and adjust
requirements on which the business is based. Some of these processes are: - Answer-
Managing current leases and proposing new leases
, Using assets provided by another entity for the unauthorized purpose could result in
which of the following: - Answer-Create a liability for the organization
Which is considered a benefit of property reutilization program? - Answer-Transfer
available excess property among departments in lieu of new purchases
To have a reutilization program that works effectively, the property system must: -
Answer-Identify excess assets and obsolete items
The primary objectives of an effective utilization management program are: - Answer-To
maximize the use of the asset throughout its useful life
For future use, items recovered from repair work, rework, testing, or cannibalization are:
- Answer-Return to stores
What can be prevented with a property consumption program? - Answer-Loss or theft of
inventory
A solid consumption program is based on which following item? - Answer-Identifying
requirements
Demand changes can affect which of the following? - Answer-Receipt of different items
A solid consumption program is based on which of the following items? - Answer-
Reviewing and adjusting requirements as needs change
When property is damaged or is no longer usable it may still have material value. What
is one way to disposition an item with material value only to receive revenues and avoid
the cost of waste management? - Answer-Recycling
Which organization should partner with Property Management to ensure available
excess property is effectively reviewed and screened for re-use before property is
acquired? - Answer-Procurement
For security purposes, what department should be responsible for making certain that
all sensitive data is removed from computers? - Answer-Information Technology (IT)
Department
Which type of sale is useful for an organization producing large quantities of the same
type materials which can be recycled? - Answer-Annual Contract
The selling of property to the highest bidder, who may be present or bidding remotely or
by proxy is which type of sale? - Answer-Auction
When are property records modified? - Answer-Throughout the entire property life cycle