CPPB Exam Prep with perfect answers 2024

Cost Plus Percentage of Cost Contracts correct answersAn agreement on a construction project in which the contractor is provided a specified percentage profit over and above the actual costs of construction. These contracts are considered poor business practice because the contractor has little incentive to hold down costs. The type of costing method is prohibited in Federal purchasing. Procurement correct answersIncludes purchasing, contract administration, inventory, receiving and disposal. Integrity correct answersThe value of one's words and actions. Competition correct answersProvides an incentive to reduce cost and increase quality. Laws correct answersDefine and control what public agencies may do. ABA correct answersAmerican Bar Association