NPMA CPPA Practice Questions With
Correct Answers
Which |of |the |following |is |the |most |important |factor |in |maintaining |accountability |for |
government |property?
Implementing |an |effective |record-keeping |system
What |is |the |primary |responsibility |of |a |property |administrator |in |a |government |contract?
To |monitor |compliance |with |property |clauses |and |regulations
Under |the |Federal |Acquisition |Regulation |(FAR), |who |is |primarily |responsible |for |ensuring |
proper |stewardship |of |government |property?
The |contractor |assigned |to |the |property
Which |document |must |a |contractor |maintain |to |track |government |property |in |their |
possession?
A |property |control |system |record
What |is |the |purpose |of |DFARS |252.245-7003 |in |relation |to |government |property?
It |sets |requirements |for |contractor |property |management |systems
Which |of |the |following |is |an |acceptable |method |for |performing |a |physical |inventory?
Immediately |after |the |discrepancy |is |identified
Which |disposal |method |is |preferred |for |government |property |that |still |has |residual |value?
Property |that |exceeds |the |needs |of |an |agency |and |has |no |foreseeable |requirement
Which |of |the |following |is |NOT |a |core |function |of |a |property |administrator?
Overseeing |employee |hiring |processes
What |is |the |first |step |in |the |approval |process |when |making |a |purchase?
Obtaining |approval |to |spend |budgeted |organizational |funds
, In |organizations |with |online |financial |systems, |which |document |is |often |used |as |part |of |a |
three-way |match |of |transactions |prior |to |payment?
Invoice
What |is |one |accomplishment |of |tagging |new, |incoming |property?
Readily |establishes |ownership
Which |type |of |property |generally |requires |serialized |tags?
Government |property |sensitive |property
When |performing |an |ABC |inventory |analysis, |Category |'C' |accounts |for |approximately |what |
percentage |of |stock |records?
75%
What |is |a |disadvantage |of |centralized |receiving?
Slower |turn-around |time |for |deliveries
Human |sources |of |risk |throughout |the |life |cycle |of |an |asset |may |include |what?
Inaccurate |recordkeeping
What |is |critical |to |the |decision-making |process, |making |the |need |to |compare |the |costs |of |
mitigating |a |risk |to |anticipated |what?
Loss
What |is |the |foundation |of |an |asset |management |review?
Written |procedures
Why |must |auditors |render |judgment |of |the |conclusions |fairly, |without |bias |or |external |
influences?
to |maintain |the |integrity |and |objectivity |of |the |audit |process
A |government |contractor |is |required |to |submit |an |annual |property |report. |What |is |the |primary
|purpose |of |this |report?
To |confirm |the |contractor's |compliance |with |property |management |requirements
What |action |should |a |property |administrator |take |when |an |employee |transfers |to |a |different |
department |and |no |longer |requires |their |assigned |government |property?
Reassign |the |property |to |another |employee |and |update |records
Correct Answers
Which |of |the |following |is |the |most |important |factor |in |maintaining |accountability |for |
government |property?
Implementing |an |effective |record-keeping |system
What |is |the |primary |responsibility |of |a |property |administrator |in |a |government |contract?
To |monitor |compliance |with |property |clauses |and |regulations
Under |the |Federal |Acquisition |Regulation |(FAR), |who |is |primarily |responsible |for |ensuring |
proper |stewardship |of |government |property?
The |contractor |assigned |to |the |property
Which |document |must |a |contractor |maintain |to |track |government |property |in |their |
possession?
A |property |control |system |record
What |is |the |purpose |of |DFARS |252.245-7003 |in |relation |to |government |property?
It |sets |requirements |for |contractor |property |management |systems
Which |of |the |following |is |an |acceptable |method |for |performing |a |physical |inventory?
Immediately |after |the |discrepancy |is |identified
Which |disposal |method |is |preferred |for |government |property |that |still |has |residual |value?
Property |that |exceeds |the |needs |of |an |agency |and |has |no |foreseeable |requirement
Which |of |the |following |is |NOT |a |core |function |of |a |property |administrator?
Overseeing |employee |hiring |processes
What |is |the |first |step |in |the |approval |process |when |making |a |purchase?
Obtaining |approval |to |spend |budgeted |organizational |funds
, In |organizations |with |online |financial |systems, |which |document |is |often |used |as |part |of |a |
three-way |match |of |transactions |prior |to |payment?
Invoice
What |is |one |accomplishment |of |tagging |new, |incoming |property?
Readily |establishes |ownership
Which |type |of |property |generally |requires |serialized |tags?
Government |property |sensitive |property
When |performing |an |ABC |inventory |analysis, |Category |'C' |accounts |for |approximately |what |
percentage |of |stock |records?
75%
What |is |a |disadvantage |of |centralized |receiving?
Slower |turn-around |time |for |deliveries
Human |sources |of |risk |throughout |the |life |cycle |of |an |asset |may |include |what?
Inaccurate |recordkeeping
What |is |critical |to |the |decision-making |process, |making |the |need |to |compare |the |costs |of |
mitigating |a |risk |to |anticipated |what?
Loss
What |is |the |foundation |of |an |asset |management |review?
Written |procedures
Why |must |auditors |render |judgment |of |the |conclusions |fairly, |without |bias |or |external |
influences?
to |maintain |the |integrity |and |objectivity |of |the |audit |process
A |government |contractor |is |required |to |submit |an |annual |property |report. |What |is |the |primary
|purpose |of |this |report?
To |confirm |the |contractor's |compliance |with |property |management |requirements
What |action |should |a |property |administrator |take |when |an |employee |transfers |to |a |different |
department |and |no |longer |requires |their |assigned |government |property?
Reassign |the |property |to |another |employee |and |update |records
