CPCM Study Guide || with Complete Solutions.
Trademark correct answers word, name, symbol, or device that is used with goods to indicate the
source of the goods and to distinguish from the goods of others.
constructive acceleration correct answers requirement that a contractor complete its work by a
date earlier than one that would reflect the time extensions to which it's entitled because of an
excusable delay.
price analysis correct answers process of examining & evaluating a price without the evaluation
of the separate cost elements and proposed profit of the offeror- normally FFP
deductive change correct answers change resulting in the reduction in contract price because of a
net reduction in the contractor's work
information processing services organization (IPSO) correct answers discrete set of personnel, it,
and support equipment with the primary function of providing services to more than one agency
on a reimbursable basis
consignee correct answers person, group of persons, or organization receiving supplies/services
that is named on the bill of landing.
abstract of title correct answers a condensed history of the title to property based on past records
current year dollars correct answers level of cost, with inflation, in the year that actual cost will
be incurred
international commercial terms (INCOTERMS) correct answers clarifies destination, risk &
liability, point of title transfer, and cost inclusions. Enables parties contracting for the purchase
of sale of goods internationally to simply and concisely allocate their responsibility for
transportation, custom fees, documentation requirements, risk of loss or damage, and insurance
Kanban System correct answers production flow control that utilizes cards to pull in process
where items are called for only as they are needed in the next step of the production.
auxiliary technique correct answers price analysis used to support results from primary or
secondary comparions
condition precedent correct answers condition that activates a term in the contract. An event that
must occur before a party must perform.
cost variance correct answers true measure of cost performance that compares the actual cost
incurred to the value of work accomplished
,decentralization of purchasing correct answers occurs when personnel from other functional
areas decide on sources of supply, negotiate with vendors, or perform any of the other major
functions of purchasing
contractor purchasing system review (CPSR) correct answers evaluation of the efficiency &
effectiveness with which the prime spends government funds and complies with government
policy when subcontracting.
break even analysis correct answers determines the point at which total revenues are exactly
equal to the total fixed variable costs
modular contracting correct answers intended to reduce program risk and to incentive contractor
performance while meeting the government's need for timely access to rapidly changing
technology
liabilities correct answers the various claims against a firm, including accounts payable, notes
payable, obligations under capital leases, and long-term debts.
substantial performance correct answers performance that deviates only in minor respects from
contract requirements. cannot be terminated for default
performance based acquisition correct answers intended to ensure that required outcome quality
levels are achieved and that total payment is related to the degree that outcomes achieved meet
contract standards.
cost estimating relationship (CER) correct answers secondary comparison used in performing
price analysis. used to adjust comparisons by establishing a common denominator between
different items.
free trade agreement correct answers treaty between two or more countries that do not impose
tariffs for commerce conducted across their borders.
operating activities correct answers company's cash flow from net income or loss
constructive change correct answers verbal or written act or omission by an authorized
government official that has the same affect as a written change order.
four corners doctrine correct answers theory that the contract itself should include all of the
terms and conditions that the parties wish to be a part of the agreement.
government special tooling correct answers must be used only for the manufacturing of specialty
items
design specification correct answers establishes precise measurements, tolerances, materials in
process and finished product tests, quality control, and inspection requirements.
, forward pricing rate agreement (FPRA) correct answers written agreement to make certain rates
available during a specified period for pricing contracts or mods.
marketing channel correct answers set of institutions necessary to transfer the title of goods and
services and to move goods from the point of origin to the point of consumption.
simplified acquisition correct answers less rigorous method for entering into a relatively low
dollar threshold contract. used to reduce admin costs and remove burden on potential suppliers.
Also used to provide socioeconomic favored groups a chance to do business with a buyer in a
less structured way.
basic research correct answers to study and research on pure science that is meant to increase our
scientific knowledge base. does not seek to solve or treat a problem.
offset agreement correct answers industrial or commercial compensation practice required by
foreign government's for the purchase of defense articles in government to government or direct
commercial sales. Negotiating resides with the U.S. firm .
color of money correct answers term used to describe the type of procurement money used for a
particular item.
current liabilities correct answers likely to be paid within a year and often are due by a specific
date.
configuration correct answers a collection of an item's descriptive and governing characteristics
that can be expressed in functional and physical terms.
tactical planning correct answers focuses on short-term goals and involves evaluating economic
and environmental issues such as competition and requirements planning to meet the strategic
plan's goal
government real property correct answers property used in production, maintenance, research,
development or testing.
latent defect correct answers defects that existed at the time of acceptance but were not
discoverable by a reasonable inspection
hub and spoke correct answers distribution model where stock is held at the hub location and
then is sent out to the spoke location when needed. allows for reduced inventory.
observation correct answers tool used by the buyer's staff to validate information received from
other sources
environmental impact statement (EIS) correct answers document prepared to describe the effects
for proposed activities on the environment.
Trademark correct answers word, name, symbol, or device that is used with goods to indicate the
source of the goods and to distinguish from the goods of others.
constructive acceleration correct answers requirement that a contractor complete its work by a
date earlier than one that would reflect the time extensions to which it's entitled because of an
excusable delay.
price analysis correct answers process of examining & evaluating a price without the evaluation
of the separate cost elements and proposed profit of the offeror- normally FFP
deductive change correct answers change resulting in the reduction in contract price because of a
net reduction in the contractor's work
information processing services organization (IPSO) correct answers discrete set of personnel, it,
and support equipment with the primary function of providing services to more than one agency
on a reimbursable basis
consignee correct answers person, group of persons, or organization receiving supplies/services
that is named on the bill of landing.
abstract of title correct answers a condensed history of the title to property based on past records
current year dollars correct answers level of cost, with inflation, in the year that actual cost will
be incurred
international commercial terms (INCOTERMS) correct answers clarifies destination, risk &
liability, point of title transfer, and cost inclusions. Enables parties contracting for the purchase
of sale of goods internationally to simply and concisely allocate their responsibility for
transportation, custom fees, documentation requirements, risk of loss or damage, and insurance
Kanban System correct answers production flow control that utilizes cards to pull in process
where items are called for only as they are needed in the next step of the production.
auxiliary technique correct answers price analysis used to support results from primary or
secondary comparions
condition precedent correct answers condition that activates a term in the contract. An event that
must occur before a party must perform.
cost variance correct answers true measure of cost performance that compares the actual cost
incurred to the value of work accomplished
,decentralization of purchasing correct answers occurs when personnel from other functional
areas decide on sources of supply, negotiate with vendors, or perform any of the other major
functions of purchasing
contractor purchasing system review (CPSR) correct answers evaluation of the efficiency &
effectiveness with which the prime spends government funds and complies with government
policy when subcontracting.
break even analysis correct answers determines the point at which total revenues are exactly
equal to the total fixed variable costs
modular contracting correct answers intended to reduce program risk and to incentive contractor
performance while meeting the government's need for timely access to rapidly changing
technology
liabilities correct answers the various claims against a firm, including accounts payable, notes
payable, obligations under capital leases, and long-term debts.
substantial performance correct answers performance that deviates only in minor respects from
contract requirements. cannot be terminated for default
performance based acquisition correct answers intended to ensure that required outcome quality
levels are achieved and that total payment is related to the degree that outcomes achieved meet
contract standards.
cost estimating relationship (CER) correct answers secondary comparison used in performing
price analysis. used to adjust comparisons by establishing a common denominator between
different items.
free trade agreement correct answers treaty between two or more countries that do not impose
tariffs for commerce conducted across their borders.
operating activities correct answers company's cash flow from net income or loss
constructive change correct answers verbal or written act or omission by an authorized
government official that has the same affect as a written change order.
four corners doctrine correct answers theory that the contract itself should include all of the
terms and conditions that the parties wish to be a part of the agreement.
government special tooling correct answers must be used only for the manufacturing of specialty
items
design specification correct answers establishes precise measurements, tolerances, materials in
process and finished product tests, quality control, and inspection requirements.
, forward pricing rate agreement (FPRA) correct answers written agreement to make certain rates
available during a specified period for pricing contracts or mods.
marketing channel correct answers set of institutions necessary to transfer the title of goods and
services and to move goods from the point of origin to the point of consumption.
simplified acquisition correct answers less rigorous method for entering into a relatively low
dollar threshold contract. used to reduce admin costs and remove burden on potential suppliers.
Also used to provide socioeconomic favored groups a chance to do business with a buyer in a
less structured way.
basic research correct answers to study and research on pure science that is meant to increase our
scientific knowledge base. does not seek to solve or treat a problem.
offset agreement correct answers industrial or commercial compensation practice required by
foreign government's for the purchase of defense articles in government to government or direct
commercial sales. Negotiating resides with the U.S. firm .
color of money correct answers term used to describe the type of procurement money used for a
particular item.
current liabilities correct answers likely to be paid within a year and often are due by a specific
date.
configuration correct answers a collection of an item's descriptive and governing characteristics
that can be expressed in functional and physical terms.
tactical planning correct answers focuses on short-term goals and involves evaluating economic
and environmental issues such as competition and requirements planning to meet the strategic
plan's goal
government real property correct answers property used in production, maintenance, research,
development or testing.
latent defect correct answers defects that existed at the time of acceptance but were not
discoverable by a reasonable inspection
hub and spoke correct answers distribution model where stock is held at the hub location and
then is sent out to the spoke location when needed. allows for reduced inventory.
observation correct answers tool used by the buyer's staff to validate information received from
other sources
environmental impact statement (EIS) correct answers document prepared to describe the effects
for proposed activities on the environment.
