NPMA CPPS Certification Exam with
Complete Solution 2024/2025 Latest
Update
Characteristics to consider when implementing the structure of a property system -
Answer-Centralized vs decentralized
Combo of central with support from decentralized network of property custodians
single individual responsibility vs fully staffed property division or department
Functional groupings within the department by business process, support to business
team, area of specialty, type of property, etc
It’s usually through external compliance requirements and persistent communication
about the impact of effective property control that - Answer-adequate visibility and
management support are attained
Org Structure within the property function refers to - Answer-how the staff is organized
and how their respective responsibilities are delineated.
Org structure within property directly impacts - Answer-their ability to conduction every
business while providing the service and support that property must offer its internal and
external customers
Key factors in deciding which property structure model to use - Answer-- Type and
volume of property managed
- Compliance requirements and risk
- current levels of compliance vs desired level of compliance
-geography of service areas
- number of and skill sets of property staff
-complexity of business processes and data mgmt systems
- financials resources
- time available to be dedicated by people who have property responsibility through the
org
Property Management - Answer-The exercise of a retaining or governing influence over
the acquisition, use, and disposition of personal property
, Property Control Variety of Names - Answer-Property Accounting, Fixed Asset
Accounting, Inventory Control, Material, Property Control, Asset Management.
Property Management Office PMO - Answer-Department within an org that is
responsible for controlling or managing property
Property Manager - Answer-PMO is headed by
Property Manager is responsible for: - 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 - 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 - Answer-have a working
relationship with all sponsor reps
Ownership - 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). - Answer-Property is either owned by or provided.
Ownership of property allows the owner to - Answer-make any and all decisions
regarding the property
It is the property professional job to support the property owner in - Answer-making and
implementing effective decisions regarding the property
Duties, responsibilities, and potential penalties should be - Answer-documented in a
formal agreement between the provider and the recipient (contract, grant)
Accountability - 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 - Answer-do not have legal or rightful title to the property
Key elements of property accountability - Answer-provider, recipient, specific duties and
responsibilities, and penalties in case of default
Who is accountable to who for property? - Answer-Contractor is accountable to
government. If gov. provides funding to acquire the property, NASA is accountable to
government.
Complete Solution 2024/2025 Latest
Update
Characteristics to consider when implementing the structure of a property system -
Answer-Centralized vs decentralized
Combo of central with support from decentralized network of property custodians
single individual responsibility vs fully staffed property division or department
Functional groupings within the department by business process, support to business
team, area of specialty, type of property, etc
It’s usually through external compliance requirements and persistent communication
about the impact of effective property control that - Answer-adequate visibility and
management support are attained
Org Structure within the property function refers to - Answer-how the staff is organized
and how their respective responsibilities are delineated.
Org structure within property directly impacts - Answer-their ability to conduction every
business while providing the service and support that property must offer its internal and
external customers
Key factors in deciding which property structure model to use - Answer-- Type and
volume of property managed
- Compliance requirements and risk
- current levels of compliance vs desired level of compliance
-geography of service areas
- number of and skill sets of property staff
-complexity of business processes and data mgmt systems
- financials resources
- time available to be dedicated by people who have property responsibility through the
org
Property Management - Answer-The exercise of a retaining or governing influence over
the acquisition, use, and disposition of personal property
, Property Control Variety of Names - Answer-Property Accounting, Fixed Asset
Accounting, Inventory Control, Material, Property Control, Asset Management.
Property Management Office PMO - Answer-Department within an org that is
responsible for controlling or managing property
Property Manager - Answer-PMO is headed by
Property Manager is responsible for: - 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 - 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 - Answer-have a working
relationship with all sponsor reps
Ownership - 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). - Answer-Property is either owned by or provided.
Ownership of property allows the owner to - Answer-make any and all decisions
regarding the property
It is the property professional job to support the property owner in - Answer-making and
implementing effective decisions regarding the property
Duties, responsibilities, and potential penalties should be - Answer-documented in a
formal agreement between the provider and the recipient (contract, grant)
Accountability - 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 - Answer-do not have legal or rightful title to the property
Key elements of property accountability - Answer-provider, recipient, specific duties and
responsibilities, and penalties in case of default
Who is accountable to who for property? - Answer-Contractor is accountable to
government. If gov. provides funding to acquire the property, NASA is accountable to
government.
