NCMA CPCM Quiz - Contract
Management Body of Knowledge
(CMBOK)
Recommended basic types of feedback - ANSCorrective, confirmatory,
motivating
A decisive leader is - ANSConfident and effective
Which of the following is a leadership process competency? (-a. Character, -
b. Credibility, -c. Confidence, -d. Cooperation) - ANSCharacter
Which of the following is not a step in the 6-step Decision-Making process
to decisive decision making? (-a. Provide feedback, -b. Implement the decision, -c.
Collect internal and external opinions , -d. Pre-plan strategies to make the decision)
- ANSCollect internal and external opinions
What can reduce or even eliminate the creative process? - ANSForced
consensus
In which decision-making step should one create objectives and goals? -
ANSPre-plan strategies
An integrative thinker is: - ANSable to create innovative solutions to
problems
Step 4 of the 6-step Decision-Making Process advises leaders to create a
written plan that: - ANSDetails the problem, determines the root cause, and lists
criteria to help choose a solution
What reflects a leadership activity for a contract manager? (-a. Resolving a
dispute with a supplier., -b. Quoting the Federal Acquisition Regulation., -c.
Promptly responding to seller inquiries., -d. Developing questions in response to a
solicitation.) - ANSResolving a dispute with a supplier.
Which of the following describes a leader who is developing new leaders? -
a. Develops the bottom 20% of the workforce, -b. Treats everyone the same, -c.
Grows the organization by addition, -d. Focuses on individual strengths) -
ANSFocuses on individual strengths
What best reflects the relationship between the leader and vision? -
ANSLeader + vision = result
, Employee __________ is a major component of organizational success. -
ANSMotivation
_________ and _________ competencies support the technical application
of contract management.. - ANSLeadership and Management
Assuring your organization adheres to high ethical standards is an example
of what? - ANSA leader's focus on character
Which of the following can impede leaders from developing a vision?
(Failing to consult others, Focusing on the day-to-day, Being inflexible, Living in
the past) - ANSLiving in the past
When a leader in your organization insists that you accomplish something
that you believe is unethical, it likely reflects what? - ANSAbuse of power
Why would contract managers need vision? - ANSTo drive behaviors that
achieve the mission
Optimism is an important leadership tool, but it can be undermined by: -
ANSInflexibility
You've read FAR 33.103 (Agency Protests) over and over and are still unable
to determine if you can go ahead and award the contract. This could be an example
of _______________, and your next step could be _______________. -
ANSInsufficient information; consult with stakeholders
Character is composed of which three elements? - ANSIntegrity, optimism,
decisiveness
When pre-planning strategies for making a decision, the leader should: -
ANSDispel assumptions that can negatively affect his/her leadership role
Which of the following is a principle required for an organizational culture
of high ethical standards? (-a. Documenting all decisions, -b. Providing rationale
for all decisions, -c. Including others in decisions, -d. Leading by example) -
ANSLeading by example
When your supervisor fails to delegate tasks to you, preferring to do it
themselves, what is this called? - ANSResisting force to achieving competence
Successful contract management depends on the leader's ability to integrate:
- ANSThe leadership process competencies
, If you are an experienced contract management leader and you need to make
a fast, high risk decision in an uncertain situation, what is the best approach? -
ANSIntuition
Risk management is: - ANSThe ability to efficiently and cost-effectively
mitigate problems
When tracking costs following the award of a contract, what is latency? -
ANSThe delay between when a cost is incurred and when it appears in the
accounting system.
This costing method uses a two-step process: 1 - assign the resource costs of
each activity, and 2 - assign activity costs to the output: - ANSActivity-Based
Costing System.
The process for creating the Resource-Loaded Schedule begins with: -
ANS...extracting a Work Breakdown Structure from the Statement of Work.
When suppliers are being certified or pre-qualified they have been: -
ANSScreened
Regardless of an organization's contracting activity size and purpose, the
following four key functions of management are essential: - ANSPlanning,
Organizing, Directing, Controlling
Analysis to measure the company's ability to meet current and long-term
obligations would use the following ratio: - ANSSolvency Ratio.
Providing information to satisfy Federal contract reporting requires the
comparison of current accounting data and a time-phased program budget. One
standard approach is the use of: - ANSAn "S" Curve that represents how activities
ramp up and tail off during a project.
Supply Chain Management: - ANSInvolves managing the activities to
produce and deliver a product or service from suppliers to the end user customer
A contracting officer is preparing to award a contract for Advisory &
Assistance Services to a small business. The contracting officer wants to make sure
the small business is financially capable of performing and managing the contract.
The Contracting Officer requests the contractors Balance Sheet from the most
recently completed fiscal year.
What is an example of another item the Contracting Officer might consider
requesting to make a more informed decision? - ANSCash flow statement
, Burn Rate funding analysis "spreads" the contract value over time in a level-
loading scheme. This technique: - ANSfails to consider project phases, or the
potential for programs to "ramp-up" activity at the beginning, and "tail off" at the
end of a project.
Which of the following could mitigate a performance risk?
a. Use appropriate cost estimating methods
b. Provide timely and appropriate performance feedback
c. Implement an effective earned value management system
d. Create an effective ethics and compliance internal control system -
ANSCreate an effective ethics and compliance internal control system
Which of the following best describes the project manager's role in financial
management?
a. Verifying the work completed that needs to be invoiced for.
b. Preparing invoices and sending them to the buyer.
c. Analyzing corporate balance sheets and income statements.
d. Negotiating payment terms with the buyer. - ANSVerifying the work
completed that needs to be invoiced for.
A firm fixed-price contract results in __________ buyer risk and
__________seller risk. - ANSLow; high
A schedule that outlines what tasks will take place, when they are scheduled
to begin and end, and what resources are needed to accomplish them is typically
created during the Project Planning Phase and is called a ___________. -
ANSResource-Loaded Schedule.
A Basis of Estimate is prepared for each work package (the lowest level of
the Work Breakdown Structure). It is: - ANS...a description of how the work will
be done, by whom, and the effort or materials required.
Which of the following best describes project management?
a. The planning, organizing, directing and controlling of all aspects of a
project.
b. Coordination between executive staff, financial staff and contracts staff to
manage a project effectively.
c. The maintenance of all project documents and timelines with the
exception of contractual document which are managed by the contracts manager.
d. Responsibility for all business functions of an organization including
establishing procedures and directing project completion. - ANSThe planning,
organizing, directing and controlling of all aspects of a project.
Management Body of Knowledge
(CMBOK)
Recommended basic types of feedback - ANSCorrective, confirmatory,
motivating
A decisive leader is - ANSConfident and effective
Which of the following is a leadership process competency? (-a. Character, -
b. Credibility, -c. Confidence, -d. Cooperation) - ANSCharacter
Which of the following is not a step in the 6-step Decision-Making process
to decisive decision making? (-a. Provide feedback, -b. Implement the decision, -c.
Collect internal and external opinions , -d. Pre-plan strategies to make the decision)
- ANSCollect internal and external opinions
What can reduce or even eliminate the creative process? - ANSForced
consensus
In which decision-making step should one create objectives and goals? -
ANSPre-plan strategies
An integrative thinker is: - ANSable to create innovative solutions to
problems
Step 4 of the 6-step Decision-Making Process advises leaders to create a
written plan that: - ANSDetails the problem, determines the root cause, and lists
criteria to help choose a solution
What reflects a leadership activity for a contract manager? (-a. Resolving a
dispute with a supplier., -b. Quoting the Federal Acquisition Regulation., -c.
Promptly responding to seller inquiries., -d. Developing questions in response to a
solicitation.) - ANSResolving a dispute with a supplier.
Which of the following describes a leader who is developing new leaders? -
a. Develops the bottom 20% of the workforce, -b. Treats everyone the same, -c.
Grows the organization by addition, -d. Focuses on individual strengths) -
ANSFocuses on individual strengths
What best reflects the relationship between the leader and vision? -
ANSLeader + vision = result
, Employee __________ is a major component of organizational success. -
ANSMotivation
_________ and _________ competencies support the technical application
of contract management.. - ANSLeadership and Management
Assuring your organization adheres to high ethical standards is an example
of what? - ANSA leader's focus on character
Which of the following can impede leaders from developing a vision?
(Failing to consult others, Focusing on the day-to-day, Being inflexible, Living in
the past) - ANSLiving in the past
When a leader in your organization insists that you accomplish something
that you believe is unethical, it likely reflects what? - ANSAbuse of power
Why would contract managers need vision? - ANSTo drive behaviors that
achieve the mission
Optimism is an important leadership tool, but it can be undermined by: -
ANSInflexibility
You've read FAR 33.103 (Agency Protests) over and over and are still unable
to determine if you can go ahead and award the contract. This could be an example
of _______________, and your next step could be _______________. -
ANSInsufficient information; consult with stakeholders
Character is composed of which three elements? - ANSIntegrity, optimism,
decisiveness
When pre-planning strategies for making a decision, the leader should: -
ANSDispel assumptions that can negatively affect his/her leadership role
Which of the following is a principle required for an organizational culture
of high ethical standards? (-a. Documenting all decisions, -b. Providing rationale
for all decisions, -c. Including others in decisions, -d. Leading by example) -
ANSLeading by example
When your supervisor fails to delegate tasks to you, preferring to do it
themselves, what is this called? - ANSResisting force to achieving competence
Successful contract management depends on the leader's ability to integrate:
- ANSThe leadership process competencies
, If you are an experienced contract management leader and you need to make
a fast, high risk decision in an uncertain situation, what is the best approach? -
ANSIntuition
Risk management is: - ANSThe ability to efficiently and cost-effectively
mitigate problems
When tracking costs following the award of a contract, what is latency? -
ANSThe delay between when a cost is incurred and when it appears in the
accounting system.
This costing method uses a two-step process: 1 - assign the resource costs of
each activity, and 2 - assign activity costs to the output: - ANSActivity-Based
Costing System.
The process for creating the Resource-Loaded Schedule begins with: -
ANS...extracting a Work Breakdown Structure from the Statement of Work.
When suppliers are being certified or pre-qualified they have been: -
ANSScreened
Regardless of an organization's contracting activity size and purpose, the
following four key functions of management are essential: - ANSPlanning,
Organizing, Directing, Controlling
Analysis to measure the company's ability to meet current and long-term
obligations would use the following ratio: - ANSSolvency Ratio.
Providing information to satisfy Federal contract reporting requires the
comparison of current accounting data and a time-phased program budget. One
standard approach is the use of: - ANSAn "S" Curve that represents how activities
ramp up and tail off during a project.
Supply Chain Management: - ANSInvolves managing the activities to
produce and deliver a product or service from suppliers to the end user customer
A contracting officer is preparing to award a contract for Advisory &
Assistance Services to a small business. The contracting officer wants to make sure
the small business is financially capable of performing and managing the contract.
The Contracting Officer requests the contractors Balance Sheet from the most
recently completed fiscal year.
What is an example of another item the Contracting Officer might consider
requesting to make a more informed decision? - ANSCash flow statement
, Burn Rate funding analysis "spreads" the contract value over time in a level-
loading scheme. This technique: - ANSfails to consider project phases, or the
potential for programs to "ramp-up" activity at the beginning, and "tail off" at the
end of a project.
Which of the following could mitigate a performance risk?
a. Use appropriate cost estimating methods
b. Provide timely and appropriate performance feedback
c. Implement an effective earned value management system
d. Create an effective ethics and compliance internal control system -
ANSCreate an effective ethics and compliance internal control system
Which of the following best describes the project manager's role in financial
management?
a. Verifying the work completed that needs to be invoiced for.
b. Preparing invoices and sending them to the buyer.
c. Analyzing corporate balance sheets and income statements.
d. Negotiating payment terms with the buyer. - ANSVerifying the work
completed that needs to be invoiced for.
A firm fixed-price contract results in __________ buyer risk and
__________seller risk. - ANSLow; high
A schedule that outlines what tasks will take place, when they are scheduled
to begin and end, and what resources are needed to accomplish them is typically
created during the Project Planning Phase and is called a ___________. -
ANSResource-Loaded Schedule.
A Basis of Estimate is prepared for each work package (the lowest level of
the Work Breakdown Structure). It is: - ANS...a description of how the work will
be done, by whom, and the effort or materials required.
Which of the following best describes project management?
a. The planning, organizing, directing and controlling of all aspects of a
project.
b. Coordination between executive staff, financial staff and contracts staff to
manage a project effectively.
c. The maintenance of all project documents and timelines with the
exception of contractual document which are managed by the contracts manager.
d. Responsibility for all business functions of an organization including
establishing procedures and directing project completion. - ANSThe planning,
organizing, directing and controlling of all aspects of a project.
