NPMA CPPS Certification 100% VERIFIED ANSWERS 2024/2025 SOLUTIONS, Exams of Business Administration

Download NPMA CPPS Certification 100% VERIFIED ANSWERS 2024/2025 SOLUTIONS and more Exams Business Administration in PDF only on Docsity! NPMA CPPS Certification 100% VERIFIED ANSWERS 2024/2025 SOLUTIONS 2. Which of the following terms means "to possess and have use of property of another with delegated responsibilities"? (pg. 1-2)(Chapter 1) c. Acountability 1. What is the document most organizations use that describes and conveys the process steps taken to produce a desired result? (pg. 1-2)(Chapter 1) a. Procedure 3. What element is crucial to the entire process of the property control system? (pg. 1-7)(Chapter 1) b. Records 4. When are property records modified? (pg. 1-7)(Chapter 1) c. Throughout the property life cycle 5. What does reutilization reduce? (pg. 1-15)(Chapter 1) d. Redundant 1. When does the Acquisition begin? (pg. 2-2)(Chapter 2) a. Needs have been defined 2. What is the first step of the approval process when making a purchase? (pg. 2- 2)(Chapter 2) c. Obtaining approval to spend budgeted organizational funds 3. When a decision has been made to buy new equipment, considerations should be decided, such as: immediate availability, extended service warranties, and _________. (pg. 2-4)(Chapter 2) b. Advanced technology 4. When a Purchase Order has been completed, Purchasing should provide a copy of the Purchase Order to property management, the originator, accounts payable, and what other department? (pg. 2-6)(Chapter 2) d. Receiving 5. What establishes delegation of authority for signature approval thresholds and types of property for those signature levels? (pg. 2-2)(Chapter 2) a. Organization procedure 1. In organizations having online financial systems, documentation is created electronically and is retained in the system's transaction history. It is often used as part of a three-way match of transactions prior to payment: the PO, the receiving documentation, and the ___________. (pg. 3-2)(Chapter 3) a. Invoice 2. A ________________________ provides receiving activity information as well as a way to trace items that are lost or misappropriated during the receiving process or a. Increases the costs of purchased goods 1. When should property that has been taken offsite for approved use be returned? (page 6-2)(Chapter 6) a. During the physical inventory 2. What is the name of the movement document used to track the short-term movement of equipment that may be used by multiple users? (page 6-3)(Chapter 6) a. Equipment log-out form 3. The following characteristics are a factor when selecting a shipping container: Size and weight of item, mode of transportation, manufacturer specifications, and ____________. (page 6-5)(Chapter 6) a. Physical characteristics 4. What are the two most important things that must be considered when assets are moved from point to point? (pg. 6-3)(Chapter 6) b. Physical protection and location changes in the records 5. When should the movement of an item be recorded in the property records? (pg. 6-5)(Chapter 6) a. Following the movement of the item 1. Who is responsible for maintenance and calibration? (pg. 7-6)(Chapter 7) c. Anyone who observes, uses, or services an item 2. What types of maintenance should be covered in a Maintenance Plan? (pg. 7-1 7-2)(Chapter 7) a. Repair, unscheduled, preventive maintenance, calibration 3. When selecting maintenance software, you should allow for what type of records? (pg. 7-2)(Chapter 7) d. Multiple Service Requirements 4. What results in cost savings, preventing downtime and reduced production? (pg. 7-2)(Chapter 7) c. Maintenance plan 5. What best describes a Maintenance Plan? (pg. 7-2)(Chapter 7) a. Items requiring regularly-scheduled inspection and service should be scheduled for recall via a systematic process 1. What is the role of the physical inventory? (pg. 8-1)(Chapter 8) b. To ensure assets recorded in the property system physically exist 2. Which equipment is more prone to loss other than theft? (pg. 8-3)(Chapter 8) b. Roving Equipment 3. What is the factor that largely determines the frequency of a physical inventory? (pg. 8- 3)(Chapter 8) b. Type of property 4. Periodic inventories are based on what factors if not mandated by specific contract language? (pg. 8-3)(Chapter 8) b. Type, location, and value of the property 5. Which type of physical inventory would one use if a 100% inventory is not cost effective or used for low cost consumable items? (pg. 8-4)(Chapter 8) b. Statistical Sampling 1. The Property Manager must establish support and maintain the utilization program by actively participating in the management processes that establish and adjust requirements on which the business is based. Some of these processes are: (pg. 9-3)(Chapter 9) c. Managing current leases and proposing new leases 2. Using assets provided by another entity for the unauthorized purpose could result in which of the following: (pg. 9-4)(Chapter 9) c. Create a liability for the organization 3. Which is considered a benefit of property reutilization program? (pg. 9- 5)(Chapter 9) a. Transfer available excess property among departments in lieu of new purchases 4. To have a reutilization program that works effectively, the property system must: (pg. 9- 5)(Chapter 9) b. Identify excess assets and obsolete items