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CERTIFIED PROFESSIONAL PROPERTY
SPECIALIST CPPS - STUDY GUIDE 2025
WITH 100% VERIFIED QUESTIONS AND
CORRECT ANSWERS
Benefits Of An Effective Property Function - Correct Answer-
- Maximize Return Of Investment
- Facilitate Compliance
- Maximize Reutilization
- Depreciation Expense
Other Names Of Property Accounting - Correct Answer-- Fixed Asset Accounting
- Inventory Control
- Material/Property Control
Three Key Concepts Of Property Management - Correct Answer-- Ownership
- Accountability
- Responsibility
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Records - Correct Answer-- Crucial Element Of Property Control Management
Begin During Acqusition Process, Continues Through Every Related Transaction To
Include Protection, Preservation, Utilization, Maintenance And Disposition - Correct
Answer-Records
Cornerstone Of Effective Property Control - Correct Answer- Communication, To
Include Routine Or Special Purpose Reports, And Training
Benefits Gained By Efficient Property Management - Correct Answer-- Return Of
Investment (Roi)
-Reutilization Of Excess Property
-Compliance Of Internal And External Procedures
-Value Of Organization
What Is Process? - Correct Answer-The Series Of Steps Taken To Produce A Desired
Result
What Is Procedure? - Correct Answer-Steps That Must Be Followed To Produce Results
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Having Legal/Rightful Title To Property Either By Organization Or Sponsor Under
Certain Terms - Correct Answer-Ownership
Means To Possess And Have Use Of Company Property With Delegated Duties And
Responsibilties - Correct Answer-Accountability
Key Elements Of Property Accountabilty - Correct Answer-- Provider
- Recipient
- Specific Duties And Responsibilities
- Specific Penalties In Case Of Default
Transfer Of Accountability - Correct Answer-When Accountability Shifts From One
Entity To Another...................May Or May Not Include Physical Relocation Of
Assets
Transfer Approval Must Be Coordinated When, How, And Why? - Correct
Answer-When? In Advance
How? In Writing
Why? To Be Made Of Historical File And Audit Trail Of Assets
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Transfer Document Must Include Three Things? - Correct Answer-1. Effective Date Of
Transfer
2. Purpose Of Transfer
3. Description Of Property To Be Transferred
Bottom Line... Transfers Occur When Property And Accountability Shift From What? -
Correct Answer-From The Using Organization To Another
An Organization With Multiple Sites With Multiple Subunits, Change In
Location Is A And Not An
- Correct Answer-Change In Location
Is A Movement Not An Interdepartmental Transfer
What Is Responsibility? - Correct Answer-To Be Answerable For A Trust Or Obligation
Property Professional Key Distinction Standpoint - Correct Answer-One Is Accountable
To Someone For The Property While Being Responsible For Certain Actions Ie
Maintenance/Storage Related To The Property Or Asset
Interdepartmental Transfers Of Property Occurs When? - Correct Answer- When Property
And Accountability Shift From The Using Organization To Another
CERTIFIED PROFESSIONAL PROPERTY
SPECIALIST CPPS - STUDY GUIDE 2025
WITH 100% VERIFIED QUESTIONS AND
CORRECT ANSWERS
Benefits Of An Effective Property Function - Correct Answer-
- Maximize Return Of Investment
- Facilitate Compliance
- Maximize Reutilization
- Depreciation Expense
Other Names Of Property Accounting - Correct Answer-- Fixed Asset Accounting
- Inventory Control
- Material/Property Control
Three Key Concepts Of Property Management - Correct Answer-- Ownership
- Accountability
- Responsibility
, Page | 2
Records - Correct Answer-- Crucial Element Of Property Control Management
Begin During Acqusition Process, Continues Through Every Related Transaction To
Include Protection, Preservation, Utilization, Maintenance And Disposition - Correct
Answer-Records
Cornerstone Of Effective Property Control - Correct Answer- Communication, To
Include Routine Or Special Purpose Reports, And Training
Benefits Gained By Efficient Property Management - Correct Answer-- Return Of
Investment (Roi)
-Reutilization Of Excess Property
-Compliance Of Internal And External Procedures
-Value Of Organization
What Is Process? - Correct Answer-The Series Of Steps Taken To Produce A Desired
Result
What Is Procedure? - Correct Answer-Steps That Must Be Followed To Produce Results
, Page | 3
Having Legal/Rightful Title To Property Either By Organization Or Sponsor Under
Certain Terms - Correct Answer-Ownership
Means To Possess And Have Use Of Company Property With Delegated Duties And
Responsibilties - Correct Answer-Accountability
Key Elements Of Property Accountabilty - Correct Answer-- Provider
- Recipient
- Specific Duties And Responsibilities
- Specific Penalties In Case Of Default
Transfer Of Accountability - Correct Answer-When Accountability Shifts From One
Entity To Another...................May Or May Not Include Physical Relocation Of
Assets
Transfer Approval Must Be Coordinated When, How, And Why? - Correct
Answer-When? In Advance
How? In Writing
Why? To Be Made Of Historical File And Audit Trail Of Assets
, Page | 4
Transfer Document Must Include Three Things? - Correct Answer-1. Effective Date Of
Transfer
2. Purpose Of Transfer
3. Description Of Property To Be Transferred
Bottom Line... Transfers Occur When Property And Accountability Shift From What? -
Correct Answer-From The Using Organization To Another
An Organization With Multiple Sites With Multiple Subunits, Change In
Location Is A And Not An
- Correct Answer-Change In Location
Is A Movement Not An Interdepartmental Transfer
What Is Responsibility? - Correct Answer-To Be Answerable For A Trust Or Obligation
Property Professional Key Distinction Standpoint - Correct Answer-One Is Accountable
To Someone For The Property While Being Responsible For Certain Actions Ie
Maintenance/Storage Related To The Property Or Asset
Interdepartmental Transfers Of Property Occurs When? - Correct Answer- When Property
And Accountability Shift From The Using Organization To Another
