NCMA CPCM Quiz - Contract
Management Body of Knowledge
(CMBOK)100% Accurate!!
Recommended basic types of feedback - ANSWERCorrective, confirmatory, motivating
A decisive leader is - ANSWERConfident and effective
Which of the following is a leadership process competency? (-a. Character, -b. Credibility, -c.
Confidence, -d. Cooperation) - ANSWERCharacter
Which of the following is not a step in the 6-step Decision-Making process to decisive decision
making? (-a. Provide feedback, -b. Implement the decision, -c. Collect internal and external opinions ,
-d. Pre-plan strategies to make the decision) - ANSWERCollect internal and external opinions
What can reduce or even eliminate the creative process? - ANSWERForced consensus
In which decision-making step should one create objectives and goals? - ANSWERPre-plan strategies
An integrative thinker is: - ANSWERable to create innovative solutions to problems
Step 4 of the 6-step Decision-Making Process advises leaders to create a written plan that: -
ANSWERDetails the problem, determines the root cause, and lists criteria to help choose a solution
What reflects a leadership activity for a contract manager? (-a. Resolving a dispute with a supplier., -
b. Quoting the Federal Acquisition Regulation., -c. Promptly responding to seller inquiries., -d.
Developing questions in response to a solicitation.) - ANSWERResolving a dispute with a supplier.
Which of the following describes a leader who is developing new leaders? -a. Develops the bottom
20% of the workforce, -b. Treats everyone the same, -c. Grows the organization by addition, -d.
Focuses on individual strengths) - ANSWERFocuses on individual strengths
What best reflects the relationship between the leader and vision? - ANSWERLeader + vision = result
Employee __________ is a major component of organizational success. - ANSWERMotivation
_________ and _________ competencies support the technical application of contract
management.. - ANSWERLeadership and Management
Assuring your organization adheres to high ethical standards is an example of what? - ANSWERA
leader's focus on character
Which of the following can impede leaders from developing a vision? (Failing to consult others,
Focusing on the day-to-day, Being inflexible, Living in the past) - ANSWERLiving in the past
When a leader in your organization insists that you accomplish something that you believe is
unethical, it likely reflects what? - ANSWERAbuse of power
Why would contract managers need vision? - ANSWERTo drive behaviors that achieve the mission
Optimism is an important leadership tool, but it can be undermined by: - ANSWERInflexibility
,You've read FAR 33.103 (Agency Protests) over and over and are still unable to determine if you can
go ahead and award the contract. This could be an example of _______________, and your next step
could be _______________. - ANSWERInsufficient information; consult with stakeholders
Character is composed of which three elements? - ANSWERIntegrity, optimism, decisiveness
When pre-planning strategies for making a decision, the leader should: - ANSWERDispel assumptions
that can negatively affect his/her leadership role
Which of the following is a principle required for an organizational culture of high ethical standards?
(-a. Documenting all decisions, -b. Providing rationale for all decisions, -c. Including others in
decisions, -d. Leading by example) - ANSWERLeading by example
When your supervisor fails to delegate tasks to you, preferring to do it themselves, what is this
called? - ANSWERResisting force to achieving competence
Successful contract management depends on the leader's ability to integrate: - ANSWERThe
leadership process competencies
If you are an experienced contract management leader and you need to make a fast, high risk
decision in an uncertain situation, what is the best approach? - ANSWERIntuition
Risk management is: - ANSWERThe ability to efficiently and cost-effectively mitigate problems
When tracking costs following the award of a contract, what is latency? - ANSWERThe delay between
when a cost is incurred and when it appears in the accounting system.
This costing method uses a two-step process: 1 - assign the resource costs of each activity, and 2 -
assign activity costs to the output: - ANSWERActivity-Based Costing System.
The process for creating the Resource-Loaded Schedule begins with: - ANSWER...extracting a Work
Breakdown Structure from the Statement of Work.
When suppliers are being certified or pre-qualified they have been: - ANSWERScreened
Regardless of an organization's contracting activity size and purpose, the following four key functions
of management are essential: - ANSWERPlanning, Organizing, Directing, Controlling
Analysis to measure the company's ability to meet current and long-term obligations would use the
following ratio: - ANSWERSolvency Ratio.
Providing information to satisfy Federal contract reporting requires the comparison of current
accounting data and a time-phased program budget. One standard approach is the use of: -
ANSWERAn "S" Curve that represents how activities ramp up and tail off during a project.
Supply Chain Management: - ANSWERInvolves managing the activities to produce and deliver a
product or service from suppliers to the end user customer
A contracting officer is preparing to award a contract for Advisory & Assistance Services to a small
business. The contracting officer wants to make sure the small business is financially capable of
performing and managing the contract. The Contracting Officer requests the contractors Balance
Sheet from the most recently completed fiscal year.
,What is an example of another item the Contracting Officer might consider requesting to make a
more informed decision? - ANSWERCash flow statement
Burn Rate funding analysis "spreads" the contract value over time in a level-loading scheme. This
technique: - ANSWERfails to consider project phases, or the potential for programs to "ramp-up"
activity at the beginning, and "tail off" at the end of a project.
Which of the following could mitigate a performance risk?
a. Use appropriate cost estimating methods
b. Provide timely and appropriate performance feedback
c. Implement an effective earned value management system
d. Create an effective ethics and compliance internal control system - ANSWERCreate an effective
ethics and compliance internal control system
Which of the following best describes the project manager's role in financial management?
a. Verifying the work completed that needs to be invoiced for.
b. Preparing invoices and sending them to the buyer.
c. Analyzing corporate balance sheets and income statements.
d. Negotiating payment terms with the buyer. - ANSWERVerifying the work completed that needs to
be invoiced for.
A firm fixed-price contract results in __________ buyer risk and __________seller risk. -
ANSWERLow; high
A schedule that outlines what tasks will take place, when they are scheduled to begin and end, and
what resources are needed to accomplish them is typically created during the Project Planning Phase
and is called a ___________. - ANSWERResource-Loaded Schedule.
A Basis of Estimate is prepared for each work package (the lowest level of the Work Breakdown
Structure). It is: - ANSWER...a description of how the work will be done, by whom, and the effort or
materials required.
Which of the following best describes project management?
a. The planning, organizing, directing and controlling of all aspects of a project.
b. Coordination between executive staff, financial staff and contracts staff to manage a project
effectively.
c. The maintenance of all project documents and timelines with the exception of contractual
document which are managed by the contracts manager.
d. Responsibility for all business functions of an organization including establishing procedures and
directing project completion. - ANSWERThe planning, organizing, directing and controlling of all
aspects of a project.
A purchase order has the following two step process that sometimes causes accounting data entry
delays: - ANSWER1 - A commitment is made when the order is approved and funds are deducted,
similar to an accrued expense.
, 2 - The value of the commitment is reduced as the supplier invoices for goods/services.
The following is NOT true regarding a "Funds Thru" date:
a. The Antideficiency Act allows the contracting officer to instruct contractors to work when funds
are no longer available.
b. Federal contracts typically contain an admonition that contractors may not work when there are
no funds remaining on the awarD.
c. A "Funds Thru" date is the date when all contract funds will be expendeD.
d. Working beyond the "Funds Thru" date places the contractor at risk that they will not be paid for
their effort. - ANSWERThe Antideficiency Act allows the contracting officer to instruct contractors to
work when funds are no longer available.
As the first step in the financial management process, this individual is responsible for estimating
how much funding the contract will require over time, and for marrying those costs with the
schedule to identify when expenses will occur: - ANSWERThe program manager or contract manager.
When a party to a contract fails to enforce a term of the contract, we may have an example of: -
ANSWERBehavior of the Parties
Portfolio Management is most focused on what? - ANSWERBusiness goal alignment, value alignment
and program selection.
What are intangible assets because their value comes from a legal claim or additional earning
power? - ANSWERPatents, Trademarks.
The ORM 6-step model includes: - ANSWERIdentifying, analyzing, and prioritizing risks
To obtain Federal Government information formerly located in the Central Contractor Registration,
Online Representations and Certifications, and the Excluded Parties List System, you would navigate
to which website: - ANSWERSystem for Award Management.
The four essential elements of any marketing program consist of: - ANSWERProducts/Services, Price,
Promotion, Place.
Asking the question "What can we learn and immediately apply?" is an example of which knowledge
management tool applied to risk management? - ANSWERLearning During
What focuses on multiple projects? - ANSWERProgram
An Estimate at Completion may be obtained by: - ANSWERAdding the cost of work remaining to the
cost of work accomplished to date
The act of moving goods out of one's internal organization to another organization due to loss of
value is: - ANSWERDisposition
Which of the following is not a responsibility of Supply Chain Management?
a. Foster cross-functional relationships
b. Achieve low cost contracts
c. Maximizing quality
Management Body of Knowledge
(CMBOK)100% Accurate!!
Recommended basic types of feedback - ANSWERCorrective, confirmatory, motivating
A decisive leader is - ANSWERConfident and effective
Which of the following is a leadership process competency? (-a. Character, -b. Credibility, -c.
Confidence, -d. Cooperation) - ANSWERCharacter
Which of the following is not a step in the 6-step Decision-Making process to decisive decision
making? (-a. Provide feedback, -b. Implement the decision, -c. Collect internal and external opinions ,
-d. Pre-plan strategies to make the decision) - ANSWERCollect internal and external opinions
What can reduce or even eliminate the creative process? - ANSWERForced consensus
In which decision-making step should one create objectives and goals? - ANSWERPre-plan strategies
An integrative thinker is: - ANSWERable to create innovative solutions to problems
Step 4 of the 6-step Decision-Making Process advises leaders to create a written plan that: -
ANSWERDetails the problem, determines the root cause, and lists criteria to help choose a solution
What reflects a leadership activity for a contract manager? (-a. Resolving a dispute with a supplier., -
b. Quoting the Federal Acquisition Regulation., -c. Promptly responding to seller inquiries., -d.
Developing questions in response to a solicitation.) - ANSWERResolving a dispute with a supplier.
Which of the following describes a leader who is developing new leaders? -a. Develops the bottom
20% of the workforce, -b. Treats everyone the same, -c. Grows the organization by addition, -d.
Focuses on individual strengths) - ANSWERFocuses on individual strengths
What best reflects the relationship between the leader and vision? - ANSWERLeader + vision = result
Employee __________ is a major component of organizational success. - ANSWERMotivation
_________ and _________ competencies support the technical application of contract
management.. - ANSWERLeadership and Management
Assuring your organization adheres to high ethical standards is an example of what? - ANSWERA
leader's focus on character
Which of the following can impede leaders from developing a vision? (Failing to consult others,
Focusing on the day-to-day, Being inflexible, Living in the past) - ANSWERLiving in the past
When a leader in your organization insists that you accomplish something that you believe is
unethical, it likely reflects what? - ANSWERAbuse of power
Why would contract managers need vision? - ANSWERTo drive behaviors that achieve the mission
Optimism is an important leadership tool, but it can be undermined by: - ANSWERInflexibility
,You've read FAR 33.103 (Agency Protests) over and over and are still unable to determine if you can
go ahead and award the contract. This could be an example of _______________, and your next step
could be _______________. - ANSWERInsufficient information; consult with stakeholders
Character is composed of which three elements? - ANSWERIntegrity, optimism, decisiveness
When pre-planning strategies for making a decision, the leader should: - ANSWERDispel assumptions
that can negatively affect his/her leadership role
Which of the following is a principle required for an organizational culture of high ethical standards?
(-a. Documenting all decisions, -b. Providing rationale for all decisions, -c. Including others in
decisions, -d. Leading by example) - ANSWERLeading by example
When your supervisor fails to delegate tasks to you, preferring to do it themselves, what is this
called? - ANSWERResisting force to achieving competence
Successful contract management depends on the leader's ability to integrate: - ANSWERThe
leadership process competencies
If you are an experienced contract management leader and you need to make a fast, high risk
decision in an uncertain situation, what is the best approach? - ANSWERIntuition
Risk management is: - ANSWERThe ability to efficiently and cost-effectively mitigate problems
When tracking costs following the award of a contract, what is latency? - ANSWERThe delay between
when a cost is incurred and when it appears in the accounting system.
This costing method uses a two-step process: 1 - assign the resource costs of each activity, and 2 -
assign activity costs to the output: - ANSWERActivity-Based Costing System.
The process for creating the Resource-Loaded Schedule begins with: - ANSWER...extracting a Work
Breakdown Structure from the Statement of Work.
When suppliers are being certified or pre-qualified they have been: - ANSWERScreened
Regardless of an organization's contracting activity size and purpose, the following four key functions
of management are essential: - ANSWERPlanning, Organizing, Directing, Controlling
Analysis to measure the company's ability to meet current and long-term obligations would use the
following ratio: - ANSWERSolvency Ratio.
Providing information to satisfy Federal contract reporting requires the comparison of current
accounting data and a time-phased program budget. One standard approach is the use of: -
ANSWERAn "S" Curve that represents how activities ramp up and tail off during a project.
Supply Chain Management: - ANSWERInvolves managing the activities to produce and deliver a
product or service from suppliers to the end user customer
A contracting officer is preparing to award a contract for Advisory & Assistance Services to a small
business. The contracting officer wants to make sure the small business is financially capable of
performing and managing the contract. The Contracting Officer requests the contractors Balance
Sheet from the most recently completed fiscal year.
,What is an example of another item the Contracting Officer might consider requesting to make a
more informed decision? - ANSWERCash flow statement
Burn Rate funding analysis "spreads" the contract value over time in a level-loading scheme. This
technique: - ANSWERfails to consider project phases, or the potential for programs to "ramp-up"
activity at the beginning, and "tail off" at the end of a project.
Which of the following could mitigate a performance risk?
a. Use appropriate cost estimating methods
b. Provide timely and appropriate performance feedback
c. Implement an effective earned value management system
d. Create an effective ethics and compliance internal control system - ANSWERCreate an effective
ethics and compliance internal control system
Which of the following best describes the project manager's role in financial management?
a. Verifying the work completed that needs to be invoiced for.
b. Preparing invoices and sending them to the buyer.
c. Analyzing corporate balance sheets and income statements.
d. Negotiating payment terms with the buyer. - ANSWERVerifying the work completed that needs to
be invoiced for.
A firm fixed-price contract results in __________ buyer risk and __________seller risk. -
ANSWERLow; high
A schedule that outlines what tasks will take place, when they are scheduled to begin and end, and
what resources are needed to accomplish them is typically created during the Project Planning Phase
and is called a ___________. - ANSWERResource-Loaded Schedule.
A Basis of Estimate is prepared for each work package (the lowest level of the Work Breakdown
Structure). It is: - ANSWER...a description of how the work will be done, by whom, and the effort or
materials required.
Which of the following best describes project management?
a. The planning, organizing, directing and controlling of all aspects of a project.
b. Coordination between executive staff, financial staff and contracts staff to manage a project
effectively.
c. The maintenance of all project documents and timelines with the exception of contractual
document which are managed by the contracts manager.
d. Responsibility for all business functions of an organization including establishing procedures and
directing project completion. - ANSWERThe planning, organizing, directing and controlling of all
aspects of a project.
A purchase order has the following two step process that sometimes causes accounting data entry
delays: - ANSWER1 - A commitment is made when the order is approved and funds are deducted,
similar to an accrued expense.
, 2 - The value of the commitment is reduced as the supplier invoices for goods/services.
The following is NOT true regarding a "Funds Thru" date:
a. The Antideficiency Act allows the contracting officer to instruct contractors to work when funds
are no longer available.
b. Federal contracts typically contain an admonition that contractors may not work when there are
no funds remaining on the awarD.
c. A "Funds Thru" date is the date when all contract funds will be expendeD.
d. Working beyond the "Funds Thru" date places the contractor at risk that they will not be paid for
their effort. - ANSWERThe Antideficiency Act allows the contracting officer to instruct contractors to
work when funds are no longer available.
As the first step in the financial management process, this individual is responsible for estimating
how much funding the contract will require over time, and for marrying those costs with the
schedule to identify when expenses will occur: - ANSWERThe program manager or contract manager.
When a party to a contract fails to enforce a term of the contract, we may have an example of: -
ANSWERBehavior of the Parties
Portfolio Management is most focused on what? - ANSWERBusiness goal alignment, value alignment
and program selection.
What are intangible assets because their value comes from a legal claim or additional earning
power? - ANSWERPatents, Trademarks.
The ORM 6-step model includes: - ANSWERIdentifying, analyzing, and prioritizing risks
To obtain Federal Government information formerly located in the Central Contractor Registration,
Online Representations and Certifications, and the Excluded Parties List System, you would navigate
to which website: - ANSWERSystem for Award Management.
The four essential elements of any marketing program consist of: - ANSWERProducts/Services, Price,
Promotion, Place.
Asking the question "What can we learn and immediately apply?" is an example of which knowledge
management tool applied to risk management? - ANSWERLearning During
What focuses on multiple projects? - ANSWERProgram
An Estimate at Completion may be obtained by: - ANSWERAdding the cost of work remaining to the
cost of work accomplished to date
The act of moving goods out of one's internal organization to another organization due to loss of
value is: - ANSWERDisposition
Which of the following is not a responsibility of Supply Chain Management?
a. Foster cross-functional relationships
b. Achieve low cost contracts
c. Maximizing quality
