NPMA CPPS Practice Questions with 100%
Verified 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?
Verified 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?
