CPCM END OF COURSE EXAM QUESTIONS AND ANSWERS
GRADED A+
✔✔Positive law - ✔✔A law made by a person or group of people, that obliges or
specifies an action; the establishment of specific rights for an individual or group
✔✔Principal-agent relationship - ✔✔A relationship in which one person has legal
authority to act for another
✔✔Procedural knowledge - ✔✔Knowledge of processes for developing proposals and
offers
✔✔Ratification - ✔✔The act of approving an unauthorized commitment by an official
who has the authority to do so
✔✔Repudiation - ✔✔The refusal, especially by a public authority, to acknowledge a
contract or debt
✔✔Special agent - ✔✔An agent (see principal-agent relationship) whose power and
authority are limited to accomplishing a specific and limited assignment; this agent does
not have the power or authority to enter into contracts on behalf of the principal
✔✔Strategic knowledge - ✔✔Developing a competitive business strategy to win the
contract
✔✔Tacit knowledge - ✔✔Inexplicit knowledge, such as soft skills required during
negotiations
✔✔Tender - ✔✔An unconditional offer of money or service in satisfaction of a debt or
obligation made to save a penalty or forfeiture for nonpayment or nonperformance
✔✔Unauthorized commitment - ✔✔A nonbinding agreement made by a government
representative who lacks the authority to enter into the agreement on behalf of the
government
✔✔Uniform Commercial Code (UCC) - ✔✔One of a number of uniform acts that have
been put into law with the goal of harmonizing the law of sales and other commercial
transactions across the United States of America through UCC adoption by all 50
states, the District of Columbia, and the U.S. territories
✔✔Universal agent - ✔✔An agent (see principal-agent relationship) provided with broad
authority to act on behalf of the principal
, ✔✔Warranty - ✔✔A promise or affirmation given by a seller to a buyer regarding the
nature, usefulness, or condition of the supplies or performance of services furnished
under the contract
✔✔Three Branch of Government - ✔✔Legislative, Judicial, and Executive Branch
✔✔KM Framework - ✔✔Fast Learning, Knowledge Asset, Communities, and Enabling
Technology
✔✔The Sarbanes-Oxlexy Act (SOX) - ✔✔The substance of the law is to create
requirements to prevent companies from accounting for profits not realized in an effort
to portray value where none exists
✔✔What are the Guiding Principles Competency's? - ✔✔Skills & Roles, Contract
Principles, Standards of Conduct, Regulatory Compliance, Situational Assessment,
Team Dynamics, Communication & Documentation
✔✔The Ant deficiency Act - ✔✔Prohibits Federal employees from: making or
authorizing an expenditure in excess of the amount available in the appropriation,
obligation to pay money before funds have been appropriated
✔✔Wage Rate Requirements (Construction) - ✔✔this act requires a minimum rate of
wages for laborers and mechanics employed on public buildings of the US by
contractors or subcontractors for contracts over $2000. The Department of Labor
maintains the wage determinations
✔✔Buy American Act - ✔✔this states that only such manufactured articles, materials,
and supplies being manufactured in the US from articles, materials, or supplies mined,
produced, or manufactured in the US
✔✔Bonds Act - ✔✔this act requires contract surety bonds on federal construction
projects in domestic construction contracts of 150,000.
✔✔Procurement Act - ✔✔this act provides for an economical and efficient system for
procurement and supply of personal property and nonpersonal services
✔✔Small Business Act - ✔✔this act states that it is the declared policy of the Congress
that the federal government, through the Small Business Administration, actin gin
cooperation with the Department of Commerce, should aid and assist small businesses.
✔✔Public Law 85-804 "Extraordinary Contractual Relief" - ✔✔this law empowers the
president to authorize agencies exercising functions in connection with the national
defense to enter into, amend, and modify contracts, without regard to other provisions of
law related to making, performing, amending, or modifying contracts, whenever the
president considers that such action would facilitate the national defense.
GRADED A+
✔✔Positive law - ✔✔A law made by a person or group of people, that obliges or
specifies an action; the establishment of specific rights for an individual or group
✔✔Principal-agent relationship - ✔✔A relationship in which one person has legal
authority to act for another
✔✔Procedural knowledge - ✔✔Knowledge of processes for developing proposals and
offers
✔✔Ratification - ✔✔The act of approving an unauthorized commitment by an official
who has the authority to do so
✔✔Repudiation - ✔✔The refusal, especially by a public authority, to acknowledge a
contract or debt
✔✔Special agent - ✔✔An agent (see principal-agent relationship) whose power and
authority are limited to accomplishing a specific and limited assignment; this agent does
not have the power or authority to enter into contracts on behalf of the principal
✔✔Strategic knowledge - ✔✔Developing a competitive business strategy to win the
contract
✔✔Tacit knowledge - ✔✔Inexplicit knowledge, such as soft skills required during
negotiations
✔✔Tender - ✔✔An unconditional offer of money or service in satisfaction of a debt or
obligation made to save a penalty or forfeiture for nonpayment or nonperformance
✔✔Unauthorized commitment - ✔✔A nonbinding agreement made by a government
representative who lacks the authority to enter into the agreement on behalf of the
government
✔✔Uniform Commercial Code (UCC) - ✔✔One of a number of uniform acts that have
been put into law with the goal of harmonizing the law of sales and other commercial
transactions across the United States of America through UCC adoption by all 50
states, the District of Columbia, and the U.S. territories
✔✔Universal agent - ✔✔An agent (see principal-agent relationship) provided with broad
authority to act on behalf of the principal
, ✔✔Warranty - ✔✔A promise or affirmation given by a seller to a buyer regarding the
nature, usefulness, or condition of the supplies or performance of services furnished
under the contract
✔✔Three Branch of Government - ✔✔Legislative, Judicial, and Executive Branch
✔✔KM Framework - ✔✔Fast Learning, Knowledge Asset, Communities, and Enabling
Technology
✔✔The Sarbanes-Oxlexy Act (SOX) - ✔✔The substance of the law is to create
requirements to prevent companies from accounting for profits not realized in an effort
to portray value where none exists
✔✔What are the Guiding Principles Competency's? - ✔✔Skills & Roles, Contract
Principles, Standards of Conduct, Regulatory Compliance, Situational Assessment,
Team Dynamics, Communication & Documentation
✔✔The Ant deficiency Act - ✔✔Prohibits Federal employees from: making or
authorizing an expenditure in excess of the amount available in the appropriation,
obligation to pay money before funds have been appropriated
✔✔Wage Rate Requirements (Construction) - ✔✔this act requires a minimum rate of
wages for laborers and mechanics employed on public buildings of the US by
contractors or subcontractors for contracts over $2000. The Department of Labor
maintains the wage determinations
✔✔Buy American Act - ✔✔this states that only such manufactured articles, materials,
and supplies being manufactured in the US from articles, materials, or supplies mined,
produced, or manufactured in the US
✔✔Bonds Act - ✔✔this act requires contract surety bonds on federal construction
projects in domestic construction contracts of 150,000.
✔✔Procurement Act - ✔✔this act provides for an economical and efficient system for
procurement and supply of personal property and nonpersonal services
✔✔Small Business Act - ✔✔this act states that it is the declared policy of the Congress
that the federal government, through the Small Business Administration, actin gin
cooperation with the Department of Commerce, should aid and assist small businesses.
✔✔Public Law 85-804 "Extraordinary Contractual Relief" - ✔✔this law empowers the
president to authorize agencies exercising functions in connection with the national
defense to enter into, amend, and modify contracts, without regard to other provisions of
law related to making, performing, amending, or modifying contracts, whenever the
president considers that such action would facilitate the national defense.
