CPCM Practice Exam 4 Questions and Answers 2024

CPCM Practice Exam 4 Questions and Answers 2024 When conducting research, asking "Is this information current, official, and verifiable?" is an example of what? A:Problem solving B:Information filtering C:Knowledge management D:Situational assessment - Answer-B:Information filtering Which of the following is not a competency of Guiding Principles? A:Team Dynamics B Regulatory Assessment C:Contract Principles D:Collaboration - Answer-D:Collaboration There are four types of knowledge required by contracts managers. The communication skills needed for a successful negotiation would fall in to which of the following categories? A:Strategic Knowledge B:Explicit Knowledge C:Procedural Knowledge D:Tacit Knowledge - Answer-D:Tacit Knowledge Complete the equation: All the information + all the _________ = Knowledge A:Collaboration B:Experience C:Value D:Resources - Answer-B:Experience Which of the following is not a requirement of a written contract for the sale of goods? A:The place of delivery B:The signature of the buying party C:A specified quantity D:Sufficient detail to indicate that a contract for sale has been made - Answer-A:The place of delivery No debt may be paid out of public funds unless Congress has made an ______________ for that purpose. A:Obligation B:Allotment C:Appropriation D:Authorization - Answer-C:Appropriation Which of the following is not one of the tenets of a successful contract management team? A:Openness to change B:Communication C:Shared leadership D:Trust - Answer-C:Shared leadership During contract performance which party is most likely to bear the risk of loss? A:The seller B:The buyer C:The party who had title to the goods when the loss occurred D:The party who had control of the goods when the loss occurred - Answer-D:The party who had control of the goods when the loss occurred The negotiation between the buyer and seller of a change to an existing contract is an example of: A:Monopsony B:Bilateral Monopoly C:Oligopsony D:Monopoly - Answer-B:Bilateral Monopoly Pleasant Elevation is a construction company working on a government building. Some of its employees were injured in an accident on the job site. After receiving notification of the accident, the contracting officer, Michelle Jackson, issued an order to suspend contract performance. Pleasant Elevation stopped construction so that the government could conduct an investigation. Ms. Jackson's actions were an example of: A:Force majeure B:Implied authority C:An unauthorized commitment D:Express authority - Answer-D:Express authority Article 2 of the UCC covers: A:The Sale of Goods B:Negotiable Instruments C:Leases D:Funds Transfers - Answer-A:The Sale of Goods Which of the following represents the relationship between principal and agent? A:You are authorized by your company to receive packages B:There is no such relationship in contract management C:You are employed by a company D:You are authorized by your company to make binding decisions on their behalf - Answer- D:You are authorized by your company to make binding decisions on their behalf Divestiture of a company (the creation of a new company with a completely separate board of directors) may be recommended as a remedy for what? A:Organizational conflict of interest B:Performance risk C:Anticipatory repudiation D:Excessive taxation - Answer-A:Organizational confli