NPMA CPPS Practice Test with verified answers.
What is the document most organizations use that describes and conveys the
process steps taken to produce a desired result? ~CORRECT
ANSWER~Procedure
Which of the following terms means "to possess and have use of property of
another with delegated responsibilities"? ~CORRECT ANSWER~Accountability
What element is crucial to the entire process of the property control system?
~CORRECT ANSWER~Records
When does the Acquisition begin? ~CORRECT ANSWER~Needs have been
defined
What is the first step of the approval process when making a purchase?
~CORRECT ANSWER~Obtaining approval to spend budgeted organizational
funds
3. When a decision has been made to buy new equipment, considerations should
be decided, such as: immediate availability, extended service warranties, and
_________. ~CORRECT ANSWER~Advanced technology
When a Purchase Order has been completed, Purchasing should provide a copy
of the Purchase Order to property management, the originator, accounts payable,
and what other department? ~CORRECT ANSWER~Receiving
, What establishes delegation of authority for signature approval thresholds and
types of property for those signature levels? ~CORRECT
ANSWER~Organization procedure
In organizations having online financial systems, documentation is created
electronically and is retained in the system's transaction history. It is often used
as part of a three-way match of transactions prior to payment: the PO, the
receiving documentation, and the ___________. ~CORRECT ANSWER~Invoice
A ________________________ provides receiving activity information as well as a
way to trace items that are lost or misappropriated during the receiving process
or during delivery from the receiving area. ~CORRECT ANSWER~Receiving
voucher log
What is a disadvantage of centralized receiving? ~CORRECT ANSWER~Slower
turn-around time for deliveries
What information is NOT typically recorded in a receiving voucher log?
~CORRECT ANSWER~Purchasing department order date and cost
Why is it important that the Receiving department inspect for damage?
~CORRECT ANSWER~Provide information for a potential return of the item to
the vendor
What is the document most organizations use that describes and conveys the
process steps taken to produce a desired result? ~CORRECT
ANSWER~Procedure
Which of the following terms means "to possess and have use of property of
another with delegated responsibilities"? ~CORRECT ANSWER~Accountability
What element is crucial to the entire process of the property control system?
~CORRECT ANSWER~Records
When does the Acquisition begin? ~CORRECT ANSWER~Needs have been
defined
What is the first step of the approval process when making a purchase?
~CORRECT ANSWER~Obtaining approval to spend budgeted organizational
funds
3. When a decision has been made to buy new equipment, considerations should
be decided, such as: immediate availability, extended service warranties, and
_________. ~CORRECT ANSWER~Advanced technology
When a Purchase Order has been completed, Purchasing should provide a copy
of the Purchase Order to property management, the originator, accounts payable,
and what other department? ~CORRECT ANSWER~Receiving
, What establishes delegation of authority for signature approval thresholds and
types of property for those signature levels? ~CORRECT
ANSWER~Organization procedure
In organizations having online financial systems, documentation is created
electronically and is retained in the system's transaction history. It is often used
as part of a three-way match of transactions prior to payment: the PO, the
receiving documentation, and the ___________. ~CORRECT ANSWER~Invoice
A ________________________ provides receiving activity information as well as a
way to trace items that are lost or misappropriated during the receiving process
or during delivery from the receiving area. ~CORRECT ANSWER~Receiving
voucher log
What is a disadvantage of centralized receiving? ~CORRECT ANSWER~Slower
turn-around time for deliveries
What information is NOT typically recorded in a receiving voucher log?
~CORRECT ANSWER~Purchasing department order date and cost
Why is it important that the Receiving department inspect for damage?
~CORRECT ANSWER~Provide information for a potential return of the item to
the vendor