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CPPS - Module 1, Chapter 1 Property Management /Q&A
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CPPS - Module 1, Chapter 1 Property Management/Q&A
Quiz :Property Management Office (PMO) - Answer :Department within an
organization that is responsible for controlling or managing property.
Responsible for establishing, guiding, managing, and maintaining an efficient
property system, communicating effectively with other departments and
functions, and developing and presenting training in subjects relating to
property.
Quiz :Responsibility of Property Management Office - Answer :Establishment
and maintenance of a property control system. A property control system is
comprised of property management personnel, processes, and management
information system (MIS).
Quiz :Ownership - Answer :Having legal or rightful title to property.
Quiz :Accountability - Answer :To possess and have use of the property of
another with delegated duties and responsibilities, subject to penalty in case of
default. Note those "accountable do not have legal or rightful title to the
property. Key elements of property accountability are:
• Provider
• Recipient
• Specific duties and responsibilities
• Specific penalties in case of default
Quiz :Transfer or Accountability - Answer :May or may not involve physical
relocation of an asset.
Quiz :Responsibility - Answer :To be answerable for a trust or obligation.
Quiz :Responsibility vs Accountability - Answer :The key distinction from a
property professional's standpoint is that one is accountable to someone for
the property, and is responsible for certain actions (such as maintenance or
storage) related to the property.
Quiz :Property Control System - Answer :Comprised of written policies,
procedures, operational guidelines,
and related records as well as the management information system (MIS) that
facilitates performing those functions. System must incorporate methods for
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