Module 2, CPPS Study Guide UPDATED
ACTUAL Exam Questions and CORECT
Answers
What is Movement? - CORRECT ANSWER -1. The act or process of moving
2. Change of place or position
3. Physical relocation of property from one are to another
Whatever the circumstances may be, what are the primary concerns of a move? - CORRECT
ANSWER -1. Completion without damage to assets
2. Property records reflects updated and accurate location
For record accuracy, the location must be updated when? - CORRECT ANSWER -
Following the movement of an asset
Documentation of all moves must be what? - CORRECT ANSWER -- Reflected in the
property records
- Made available during an inventory audit
What does compliance include? - CORRECT ANSWER -Compliance with -
- Regulations
- Contract or agreement provisions
,- Organization policies and procedures
When items are requisitioned from inventories held at a warehouse or storage facility and the
requisition is approved by an appropriate member of management, what is the next step in the
process? - CORRECT ANSWER -Manually or electronically forward the requisition to the
Warehouse Supervisor
What requirements must be followed if it is necessary for an employee or other authorized
person to move property from its current work location to an off-site location? - CORRECT
ANSWER -- Approval to remove property from current authorized location must be
secured from an individual responsible for the inventory account
- Property may only be used for authorized purposes
- Person removing such property from authorized location assumes the responsibility for seeing
that the appropriate care is taken in its transportation and security, and such property is returned
in satisfactory working condition.
- Person may be liable for the replacement or repair costs of any property not so returned
- Property must be returned to it normal location as soon as possible, ordinarily within a week
unless extended period is specifically approved.
- Approvals should be limited to the current fiscal year and must be renewed at the beginning of
each fiscal year.
- In the event of an organization-wide inventory, all property must be returned to its authorize
location to be accounted for physical inventory
- In the even of a planned absence of an individual who has the property off-site, property must
be returned to his/hers departure
,- All property temporarily removed from in-house locations is subject to immediate recall at any
time to meet higher priority operational commitments
Where must a written or electronic record of the property and of the authorization be
maintained? - CORRECT ANSWER -In the office of the approval authority
Should the asset require maintenance or repair during a designated off-site period, who must be
contacted for assistance? - CORRECT ANSWER -Property Administrator or are
maintenance coordinator
What must be done to show changes in quantities and location when dealing with property? -
CORRECT ANSWER -Movement of property must be authorized and documentation
generated to show changes in quantities and location.
What is the dual purpose of a Transfer and Accountability Form? - CORRECT
ANSWER -- to record movement of the property
- to transfer accountabilty
What is a Transfer and Accountability Form used for? - CORRECT ANSWER -to
document the transfer of property between two users
What data can be found on a Transfer and Accountability Form? - CORRECT ANSWER -
It contains the following information:
- Transferee
- Transferor
- the quantity
, - description
- serial number
- tag number
- value
- classfication code
To ensure accountability and tracking during audits and inventories, what form should be used
and why? - CORRECT ANSWER -A transfer form rather than a hand receipt if property is
borrowed over a longer period of time than is allowed by the loaning department procedures.
What must the transfer document be annotated with and why? - CORRECT ANSWER -It
is to be annotated with "Temporary" so that the loaning department will retain ownership of the
property
What does "transfer"mean - CORRECT ANSWER -It means the transfer of custodial
responsibility that occurs in-house from one department to another
When is a hand receipt used to control movement? - CORRECT ANSWER -When
property movement between an inventory control point (storage, calibration lab, maintenance,
etc.) and the custodian or user occurs.
What form is used to track short-term movement of equipment from an established equipment
pool for multiple users? - CORRECT ANSWER -Equipment log-out form
ACTUAL Exam Questions and CORECT
Answers
What is Movement? - CORRECT ANSWER -1. The act or process of moving
2. Change of place or position
3. Physical relocation of property from one are to another
Whatever the circumstances may be, what are the primary concerns of a move? - CORRECT
ANSWER -1. Completion without damage to assets
2. Property records reflects updated and accurate location
For record accuracy, the location must be updated when? - CORRECT ANSWER -
Following the movement of an asset
Documentation of all moves must be what? - CORRECT ANSWER -- Reflected in the
property records
- Made available during an inventory audit
What does compliance include? - CORRECT ANSWER -Compliance with -
- Regulations
- Contract or agreement provisions
,- Organization policies and procedures
When items are requisitioned from inventories held at a warehouse or storage facility and the
requisition is approved by an appropriate member of management, what is the next step in the
process? - CORRECT ANSWER -Manually or electronically forward the requisition to the
Warehouse Supervisor
What requirements must be followed if it is necessary for an employee or other authorized
person to move property from its current work location to an off-site location? - CORRECT
ANSWER -- Approval to remove property from current authorized location must be
secured from an individual responsible for the inventory account
- Property may only be used for authorized purposes
- Person removing such property from authorized location assumes the responsibility for seeing
that the appropriate care is taken in its transportation and security, and such property is returned
in satisfactory working condition.
- Person may be liable for the replacement or repair costs of any property not so returned
- Property must be returned to it normal location as soon as possible, ordinarily within a week
unless extended period is specifically approved.
- Approvals should be limited to the current fiscal year and must be renewed at the beginning of
each fiscal year.
- In the event of an organization-wide inventory, all property must be returned to its authorize
location to be accounted for physical inventory
- In the even of a planned absence of an individual who has the property off-site, property must
be returned to his/hers departure
,- All property temporarily removed from in-house locations is subject to immediate recall at any
time to meet higher priority operational commitments
Where must a written or electronic record of the property and of the authorization be
maintained? - CORRECT ANSWER -In the office of the approval authority
Should the asset require maintenance or repair during a designated off-site period, who must be
contacted for assistance? - CORRECT ANSWER -Property Administrator or are
maintenance coordinator
What must be done to show changes in quantities and location when dealing with property? -
CORRECT ANSWER -Movement of property must be authorized and documentation
generated to show changes in quantities and location.
What is the dual purpose of a Transfer and Accountability Form? - CORRECT
ANSWER -- to record movement of the property
- to transfer accountabilty
What is a Transfer and Accountability Form used for? - CORRECT ANSWER -to
document the transfer of property between two users
What data can be found on a Transfer and Accountability Form? - CORRECT ANSWER -
It contains the following information:
- Transferee
- Transferor
- the quantity
, - description
- serial number
- tag number
- value
- classfication code
To ensure accountability and tracking during audits and inventories, what form should be used
and why? - CORRECT ANSWER -A transfer form rather than a hand receipt if property is
borrowed over a longer period of time than is allowed by the loaning department procedures.
What must the transfer document be annotated with and why? - CORRECT ANSWER -It
is to be annotated with "Temporary" so that the loaning department will retain ownership of the
property
What does "transfer"mean - CORRECT ANSWER -It means the transfer of custodial
responsibility that occurs in-house from one department to another
When is a hand receipt used to control movement? - CORRECT ANSWER -When
property movement between an inventory control point (storage, calibration lab, maintenance,
etc.) and the custodian or user occurs.
What form is used to track short-term movement of equipment from an established equipment
pool for multiple users? - CORRECT ANSWER -Equipment log-out form
