CPCM Guiding Principle
UPDATED QUESTIONS AND CORRECT
ANSWERS
Acceptance - CORRECT ANSWER The act, either verbal or written, that conveys
assent to contractual terms and conditions.
Actual authority - CORRECT ANSWER An agent's (see principal-agent relationship)
specific authority that the principal intentionally confers on the agent; confers a power to the
agent to affect legal relations of the principals with third parties.
Apparent authority - CORRECT ANSWER The appearance of being a principal's agent
(see principal-agent relationship) with the power to act for the principal; corporations are
liable for an employee's acts and promises to a third party if it appears to the third party that
the employee has been granted authority by his or her corporate employer (principal) to do
those acts that bind the corporation.
Appropriation - CORRECT ANSWER The act of setting aside money for specific
federal government departments, agencies, and programs.
Authorization - CORRECT ANSWER Establishing or continuing one or more federal
agencies or programs, establishing the terms and conditions under which they operate,
authorizing the enactment of appropriations, and specifying how appropriated funds are to be
used.
Boilerplate - CORRECT ANSWER Printed terms and conditions that are frequently
found on the back of purchase order forms in contracts, usually attached as "general
provisions."
Buyer - CORRECT ANSWER The contracted party with the requirement for goods
and/or services to be fulfilled by one or more sellers. (also called the offeree)
, Case Law - CORRECT ANSWER The set of past rulings by judges (and similar
tribunals) that meet their respective jurisdictions' rules for formality to be cited as precedent.
Communities of practice - CORRECT ANSWER Groups of practitioners and/or
subject matter experts sharing common goals and a desire to improve their performance and
the performance of their teams and organization.
Contract - CORRECT ANSWER A mutually binding legal relationship obligating the
seller to furnish supplies or services, and the buyer to provide consideration for them.
Contract management - CORRECT ANSWER The actions of a contract manager to
develop solicitations, develop offers, form contracts, perform contracts, and close contracts.
Contract modification - CORRECT ANSWER Any written alteration in the
specification, delivery point, rate of delivery, contract period, price, quantity, or other
provision of an existing contract, accomplished in accordance with a contract clause, which
may be unilateral or bilateral.
Contract Performance - CORRECT ANSWER The execution of the terms of a
contract; the process of establishing and maintaining communications, and tracking and
documenting contract performance.
Contracting officer (CO or KO) - CORRECT ANSWER 1-A person with authority to
enter into, administer, or terminate government contracts.
2-Ensures that all requirements of law, executive orders, regulations, and all other applicable
procedures, including clearances and approvals, have been met.
Enabling technology - CORRECT ANSWER Technology that supports and ability to
"connect, collect, and collaborate" across the organization.
Excusable delay - CORRECT ANSWER See force majeure
UPDATED QUESTIONS AND CORRECT
ANSWERS
Acceptance - CORRECT ANSWER The act, either verbal or written, that conveys
assent to contractual terms and conditions.
Actual authority - CORRECT ANSWER An agent's (see principal-agent relationship)
specific authority that the principal intentionally confers on the agent; confers a power to the
agent to affect legal relations of the principals with third parties.
Apparent authority - CORRECT ANSWER The appearance of being a principal's agent
(see principal-agent relationship) with the power to act for the principal; corporations are
liable for an employee's acts and promises to a third party if it appears to the third party that
the employee has been granted authority by his or her corporate employer (principal) to do
those acts that bind the corporation.
Appropriation - CORRECT ANSWER The act of setting aside money for specific
federal government departments, agencies, and programs.
Authorization - CORRECT ANSWER Establishing or continuing one or more federal
agencies or programs, establishing the terms and conditions under which they operate,
authorizing the enactment of appropriations, and specifying how appropriated funds are to be
used.
Boilerplate - CORRECT ANSWER Printed terms and conditions that are frequently
found on the back of purchase order forms in contracts, usually attached as "general
provisions."
Buyer - CORRECT ANSWER The contracted party with the requirement for goods
and/or services to be fulfilled by one or more sellers. (also called the offeree)
, Case Law - CORRECT ANSWER The set of past rulings by judges (and similar
tribunals) that meet their respective jurisdictions' rules for formality to be cited as precedent.
Communities of practice - CORRECT ANSWER Groups of practitioners and/or
subject matter experts sharing common goals and a desire to improve their performance and
the performance of their teams and organization.
Contract - CORRECT ANSWER A mutually binding legal relationship obligating the
seller to furnish supplies or services, and the buyer to provide consideration for them.
Contract management - CORRECT ANSWER The actions of a contract manager to
develop solicitations, develop offers, form contracts, perform contracts, and close contracts.
Contract modification - CORRECT ANSWER Any written alteration in the
specification, delivery point, rate of delivery, contract period, price, quantity, or other
provision of an existing contract, accomplished in accordance with a contract clause, which
may be unilateral or bilateral.
Contract Performance - CORRECT ANSWER The execution of the terms of a
contract; the process of establishing and maintaining communications, and tracking and
documenting contract performance.
Contracting officer (CO or KO) - CORRECT ANSWER 1-A person with authority to
enter into, administer, or terminate government contracts.
2-Ensures that all requirements of law, executive orders, regulations, and all other applicable
procedures, including clearances and approvals, have been met.
Enabling technology - CORRECT ANSWER Technology that supports and ability to
"connect, collect, and collaborate" across the organization.
Excusable delay - CORRECT ANSWER See force majeure
