CPPS LATEST 2026 CORE EXAM SET QUESTIONS AND
ANSWERS RATED A+
✔✔Those accountable - ✔✔do not have legal or rightful title to the property
✔✔Key elements of property accountability - ✔✔provider, recipient, specific duties and
responsibilities, and penalties in case of default
✔✔Who is accountable to who for property? - ✔✔Contractor is accountable to
government. If gov. provides funding to acquire the property, NASA is accountable to
government.
✔✔Transfer of accountability - ✔✔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 - ✔✔both must have appropriate levels of
mgmt authority approval, and both contracting officers need to approve
✔✔Approvals for transfers - ✔✔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 - ✔✔date of transfer, the purpose of the transfer,
description of property, contract numbers
✔✔Interdepartmental transfers - ✔✔These occur routinely within orgs, usually result of
org changes, shift of work between departments, or excess assets are needed by
another department
✔✔Interdepartmental transfer occurs when - ✔✔property and accountability shift from
one org to another
✔✔confusion results when accountability rests above the department level. This is still
sometimes called interdepartment transfer, but - ✔✔it is a transfer of responsibility, not
accountability
✔✔Responsibility - ✔✔means to be answerable for a trust or obligation. Less formal
than accountability
✔✔While accountability includes responsibility - ✔✔Responsibility does not include
accountability
, ✔✔Key distinction from property professionals standpoint (on accountability and
responsibility) is that - ✔✔one is accountable to someone for the property, and is
responsible for certain actions such as maintenance or storage
✔✔Property Control System must - ✔✔incorporate methods of safeguarding physical
assets of an org,
periodically verify their existence, status and condition of the property,
and ensure accuracy of records
enable participants in process to comply with internal rules, and fed state and local regs,
and provide audit trail
✔✔Property Records are - ✔✔the foundation of the property control database.
✔✔An effective, user friendly property system provides - ✔✔a mechanism through
which an org can define and plan for its property needs and be able to acquire, manage
and dispose of property to meet them in a cost effective and efficient manner
✔✔primary drivers behind need for property function include - ✔✔fiscal responsibility
and stewardship, and investment and resource mgmt, and compliance with org needs
and external requirements
✔✔Property function is responsible for establishing: - ✔✔an infrastructure that will
facilitate property mgmt through the entire life cycle of an asset.
Includes developing and implementing policies, procedures, guidelines, record keeping
system, establish and communicate specific roles and responsibilities of all participants
✔✔To increase compliance - ✔✔the unit best suited to the task should be made
responsible for the performance of steps in the process
✔✔The level of complexity of the processes is driven by - ✔✔the needs of the org, with
steps within each process being determined by the structure of the responsible
business unit.
✔✔Organizational placements and Structure of the property function - ✔✔varies for org
to org
✔✔Most effective org placement of property mgmt is - ✔✔within the financial
management or accounting function
✔✔adequate authority - ✔✔Property must have this to define, implement, and maintain
business processes that may touch every level of the org.
ANSWERS RATED A+
✔✔Those accountable - ✔✔do not have legal or rightful title to the property
✔✔Key elements of property accountability - ✔✔provider, recipient, specific duties and
responsibilities, and penalties in case of default
✔✔Who is accountable to who for property? - ✔✔Contractor is accountable to
government. If gov. provides funding to acquire the property, NASA is accountable to
government.
✔✔Transfer of accountability - ✔✔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 - ✔✔both must have appropriate levels of
mgmt authority approval, and both contracting officers need to approve
✔✔Approvals for transfers - ✔✔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 - ✔✔date of transfer, the purpose of the transfer,
description of property, contract numbers
✔✔Interdepartmental transfers - ✔✔These occur routinely within orgs, usually result of
org changes, shift of work between departments, or excess assets are needed by
another department
✔✔Interdepartmental transfer occurs when - ✔✔property and accountability shift from
one org to another
✔✔confusion results when accountability rests above the department level. This is still
sometimes called interdepartment transfer, but - ✔✔it is a transfer of responsibility, not
accountability
✔✔Responsibility - ✔✔means to be answerable for a trust or obligation. Less formal
than accountability
✔✔While accountability includes responsibility - ✔✔Responsibility does not include
accountability
, ✔✔Key distinction from property professionals standpoint (on accountability and
responsibility) is that - ✔✔one is accountable to someone for the property, and is
responsible for certain actions such as maintenance or storage
✔✔Property Control System must - ✔✔incorporate methods of safeguarding physical
assets of an org,
periodically verify their existence, status and condition of the property,
and ensure accuracy of records
enable participants in process to comply with internal rules, and fed state and local regs,
and provide audit trail
✔✔Property Records are - ✔✔the foundation of the property control database.
✔✔An effective, user friendly property system provides - ✔✔a mechanism through
which an org can define and plan for its property needs and be able to acquire, manage
and dispose of property to meet them in a cost effective and efficient manner
✔✔primary drivers behind need for property function include - ✔✔fiscal responsibility
and stewardship, and investment and resource mgmt, and compliance with org needs
and external requirements
✔✔Property function is responsible for establishing: - ✔✔an infrastructure that will
facilitate property mgmt through the entire life cycle of an asset.
Includes developing and implementing policies, procedures, guidelines, record keeping
system, establish and communicate specific roles and responsibilities of all participants
✔✔To increase compliance - ✔✔the unit best suited to the task should be made
responsible for the performance of steps in the process
✔✔The level of complexity of the processes is driven by - ✔✔the needs of the org, with
steps within each process being determined by the structure of the responsible
business unit.
✔✔Organizational placements and Structure of the property function - ✔✔varies for org
to org
✔✔Most effective org placement of property mgmt is - ✔✔within the financial
management or accounting function
✔✔adequate authority - ✔✔Property must have this to define, implement, and maintain
business processes that may touch every level of the org.
