NPMA CPPS Certification exam with
verified answers.
Property Management ~CORRECT ANSWER~The exercise of a retaining or
governing influence over the acquisition, use, and disposition of personal
property
Property Control Variety of Names ~CORRECT ANSWER~Property Accounting,
Fixed Asset Accounting, Inventory Control, Material, Property Control, Asset
Management.
Property Management Office PMO ~CORRECT ANSWER~Department within an
org that is responsible for controlling or managing property
Property Manager ~CORRECT ANSWER~PMO is headed by
Property Manager is responsible for: ~CORRECT ANSWER~establishing,
guiding, managing, and maintaining an efficient property system,
communicating effectively with other departments and functions, and
developing and presenting training in property related subjects
Property Control System is comprised of ~CORRECT ANSWER~Property
Management Personnel, processes, and mgmt info. systems (MIS). (Written
policies, procedures, operational guidelines, and related records, and MIS that
facilitates these functions).
,If org contracts with the government, property manager must ~CORRECT
ANSWER~have a working relationship with all sponsor reps
Ownership ~CORRECT ANSWER~Having legal or rightful title to property
either owned by the org or is provided by a sponsor under some kind of
agreement (sponsor has ownership). ~CORRECT ANSWER~Property is either
owned by or provided.
Ownership of property allows the owner to ~CORRECT ANSWER~make any
and all decisions regarding the property
It is the property professional job to support the property owner in ~CORRECT
ANSWER~making and implementing effective decisions regarding the property
Duties, responsibilities, and potential penalties should be ~CORRECT
ANSWER~documented in a formal agreement between the provider and the
recipient (contract, grant)
Accountability ~CORRECT ANSWER~means to posses and have use of the
property of another with delegated duties and responsibilities, subject to penalty
in case of default.
Those accountable ~CORRECT ANSWER~do not have legal or rightful title to the
property
, Key elements of property accountability ~CORRECT ANSWER~provider,
recipient, specific duties and responsibilities, and penalties in case of default
Who is accountable to who for property? ~CORRECT ANSWER~Contractor is
accountable to government. If gov. provides funding to acquire the property,
NASA is accountable to government.
Transfer of accountability ~CORRECT ANSWER~When accountability shifts
from one entity to another.... may or may not include physical relocation of
assets, but will always include a change in accountability for the property
Approvals for giving and accepting orgs ~CORRECT ANSWER~both must have
appropriate levels of mgmt authority approval, and both contracting officers
need to approve
Approvals for transfers ~CORRECT ANSWER~must be obtain before the transfer
occurs, in writing, either within award doc, a letter, or email, and made part of
the file for audit trail
transfer doc must include ~CORRECT ANSWER~date of transfer, the purpose of
the transfer, description of property, contract numbers
verified answers.
Property Management ~CORRECT ANSWER~The exercise of a retaining or
governing influence over the acquisition, use, and disposition of personal
property
Property Control Variety of Names ~CORRECT ANSWER~Property Accounting,
Fixed Asset Accounting, Inventory Control, Material, Property Control, Asset
Management.
Property Management Office PMO ~CORRECT ANSWER~Department within an
org that is responsible for controlling or managing property
Property Manager ~CORRECT ANSWER~PMO is headed by
Property Manager is responsible for: ~CORRECT ANSWER~establishing,
guiding, managing, and maintaining an efficient property system,
communicating effectively with other departments and functions, and
developing and presenting training in property related subjects
Property Control System is comprised of ~CORRECT ANSWER~Property
Management Personnel, processes, and mgmt info. systems (MIS). (Written
policies, procedures, operational guidelines, and related records, and MIS that
facilitates these functions).
,If org contracts with the government, property manager must ~CORRECT
ANSWER~have a working relationship with all sponsor reps
Ownership ~CORRECT ANSWER~Having legal or rightful title to property
either owned by the org or is provided by a sponsor under some kind of
agreement (sponsor has ownership). ~CORRECT ANSWER~Property is either
owned by or provided.
Ownership of property allows the owner to ~CORRECT ANSWER~make any
and all decisions regarding the property
It is the property professional job to support the property owner in ~CORRECT
ANSWER~making and implementing effective decisions regarding the property
Duties, responsibilities, and potential penalties should be ~CORRECT
ANSWER~documented in a formal agreement between the provider and the
recipient (contract, grant)
Accountability ~CORRECT ANSWER~means to posses and have use of the
property of another with delegated duties and responsibilities, subject to penalty
in case of default.
Those accountable ~CORRECT ANSWER~do not have legal or rightful title to the
property
, Key elements of property accountability ~CORRECT ANSWER~provider,
recipient, specific duties and responsibilities, and penalties in case of default
Who is accountable to who for property? ~CORRECT ANSWER~Contractor is
accountable to government. If gov. provides funding to acquire the property,
NASA is accountable to government.
Transfer of accountability ~CORRECT ANSWER~When accountability shifts
from one entity to another.... may or may not include physical relocation of
assets, but will always include a change in accountability for the property
Approvals for giving and accepting orgs ~CORRECT ANSWER~both must have
appropriate levels of mgmt authority approval, and both contracting officers
need to approve
Approvals for transfers ~CORRECT ANSWER~must be obtain before the transfer
occurs, in writing, either within award doc, a letter, or email, and made part of
the file for audit trail
transfer doc must include ~CORRECT ANSWER~date of transfer, the purpose of
the transfer, description of property, contract numbers
