CTCM CERTIFICATION EXAM 2024
ACTUAL EXAM COMPLETE 150
QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT
ANSWERS) / ALREADY GRADED A+
When do you report to VPTS? - ....ANSWER...Contracts
at or greater than $25k. Reporting is required in 30 days
What are the VPTS reporting requirements for contracts
valued over $5 million? - ....ANSWER...Vendor
performance reports are required annually and at each key
milestone. The contract can't be extended until the vendor
performance reports have been submitted to VPTS
Risk Assessment Tools - ....ANSWER...Identify the risk
associated with a contract
CAP Contract Administration Plan - ....ANSWER...A tool
used to bridge the gap between Contract Developers and
Contract Managers after the contract has been awarded
,What is Monitoring - ....ANSWER...Observation
overseeing supervision and regulation to ensure the terms
and conditions of a contract are completed as required.
How do we Monitor? - ....ANSWER...Site Visits
Reports
Communication
Site Vists - ....ANSWER...Used to check the progress of
deliverables
Used to verify actual performance progress vs scheduled
or reported performance or progress
Reports - ....ANSWER...Reports tied to milestones
concerning progress,financials,and vendor performance
Progress Reports - ....ANSWER...Meeting specific
Milestones
Financial Reports - ....ANSWER...Financial statements,
invoices and timelines
,Vendor Performance - ....ANSWER...Data reported by
contractor which the should be verified for accuracy
Other Types of Monitoring - ....ANSWER...Phone calls,
spot audits, and expenditure document review
Inspection and Acceptance
End User and/or Purchaser - ....ANSWER...Inspect the
delivery
Were shipments delivered in error
Compare items received with the Purchase Order for brand
name and product number
Inspect for minor visible damage especially to outside
packaging
Inspect for severe visible damage to containers or contents
Concealed damage to contents
, Pick Up and Return of Shipments
Inspect the Internal Receiving Report
Partial Shipment
Indirect Cost - ....ANSWER...Cost included under a
contract that is not specific to the project
Withholding Payments - ....ANSWER...Instances when
payments can be withheld
Breach of contract
Invoice errors
Vendor noncompliance
Performance Issues
Undocumented unsupported costs
Need to remedy overpayments to vendor
Amendments - ....ANSWER...Amendments occur after a
contract has been awarded any amendments to a contract
must be in writing and signed by both parties
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