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CERTIFIED PURCHASING PROFESSIONAL (CPP) EXAM 2024/2025 UPDATED $12.99   Add to cart
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CERTIFIED PURCHASING PROFESSIONAL (CPP) EXAM 2024/2025 UPDATED
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  • CPP
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CERTIFIED PURCHASING PROFESSIONAL (CPP) EXAM 2024/2025 UPDATED ApparentlAuthoritylorlOstensiblelAuthorityl-lCORRECTlANSWERusedltolreferltolthelpersonlwholseemsltolhavelbeenlauthorizedlbylthelprincipallaslanlagentltol makelagreementslthatlmustlbelhonoredlbylthelprincipal. AcidlTestl-lCORRE...

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  • September 16, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • cpp exam 2024
  • certified purchasing professional cpp
  • certified purchasing professional cpp exam
  • certified purchasing professional

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  • CPP
  • CPP

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CERTIFIED PURCHASING
PROFESSIONAL (CPP) EXAM 2024/2025
UPDATED.

ApparentlAuthoritylorlOstensiblelAuthorityl-lCORRECTlANSWER-
usedltolreferltolthelpersonlwholseemsltolhavelbeenlauthorizedlbylthelprincipallaslanlagentltol
makelagreementslthatlmustlbelhonoredlbylthelprincipal.

AcidlTestl-lCORRECTlANSWER-
Samelaslquicklratio,lincludeslonlylthoselassetslinlthelnumeratorloflthelratioloflassetslcompar
edlwithlliabilitieslthatlcanlbelquicklylconvertedltolcash.

A.S.T.Ml-lCORRECTlANSWER-
AnlabbreviationlforlthelAmericanlSocietylforlTestinglandlMaterials,lanlorganizationlthatldev
elopslandlpublisheslstandardlspecificationslonlmanylproducts

BillloflLandingl-lCORRECTlANSWER-
alreceiptlthatlalshipperlreceiveslfromlthelcarrierlforlthelgoodslshipped

BillloflMateriall-lCORRECTlANSWER-
allistloflitemslneeded,lsometimesldividedlbetweenlitemsltolbelpurchasedlandlitemsltolbelass
embledlorlmanufactured.

Breachl(oflContract)l-lCORRECTlANSWER-failureltolperformlpartloflthelagreement

CaveatlEmptorl-lCORRECTlANSWER-Latinlforl"buyerlbeware"

CommonlLawl-lCORRECTlANSWER-
thelportionlofllawlinheritedlfromlthelEnglishlsystemlandlwhichlislbasedlonlpreviousldecisionl
beforelthelcourt.lThelmostlrecentldecisionslandlthelclosestljurisdictionslcarrylmorelweightlth
anlthoselthatlarelolderlorlmoreldistant.

Considerationl-lCORRECTlANSWER-
somethingloflvaluelgivenlinlreturnlforlanlagreedlperformanceloflalcontract

ConsequentiallDamagesl-lCORRECTlANSWER-
harmlorlcostslwhichlresultlfromlsomelinjurylotherlthanlthelharmlorlcostloflthelinjurylitself

Contractl-lCORRECTlANSWER-anlagreementlorlpromiseltolperformlanlactlinlreturn

, Cross-Dockingl-lCORRECTlANSWER-
Costslarelreducedlbylthelprocessloflreceivinglalproductlandlshippinglitloutlimmediatelylwitho
utlputtinglintolstorage

Currentlratiol-lCORRECTlANSWER-
Thelvalueloflcurrentlassetsldividedlbylthelvalueloflcurrentlliabilities.lItlislanlindicationloflanlorg
anization'slabilityltolmeetlitslcurrentlobligation.

Damagesl-lCORRECTlANSWER-
paymentlaslcompensationlforlanlinjurylorlharmlcausedlbylanotherlpersonlorlorganization

EOQlorlEconomiclOrderlQuantityl-lCORRECTlANSWER-
alquantityltolorderlbasedlonlalformulalcomparinglthelholdinglcostlandlthelrateloflusage

F.A.R.l-lCORRECTlANSWER-FederallAcquisitionlRegulation

F.O.BlFreelOnlBoardl-lCORRECTlANSWER-
inlU.S.ldomesticltransactionslthelnamedllocationlwhereltitlel(ownership)loflthelgoodslpasse
slfromlthelsellerltolthelbuyer

INCOTERMSl-lCORRECTlANSWER-
Internationallbusinessltermslthatlspellloutlproperlabbreviationslandldefinitionslforltimeloflpa
yment,lpaymentldiscounts,lplaceloflownership,landlmodeslofltransportation

Inventorylturnsl-lCORRECTlANSWER-
inventorylturnoverlratiolcalculatedlbyldividinglthelcostloflgoodslsoldlbylthelaveragelinventory
lvalue



ISO-9000l-lCORRECTlANSWER-Establishedlqualitylstandards

LCLlorlLesslCardlLoadl-lCORRECTlANSWER-
thelamountloflgoodslthatldetermineslthelratelandlchargelforlshippinglbyllesslthanlalraillcarllo
ad;lmorelexpensivelthanlalcarload

LTLlorlLesslTrucklLoadl-lCORRECTlANSWER-
thelamountloflgoodslthatldetermineslthelratelandlchargelforlshippinglbyllesslthanlalcompletel
trucklload;lmorelexpensivelthanlaltrucklload

LetterlOflIntentl-lCORRECTlANSWER-
alwrittenlstatementloflthelpreliminarylunderstandingloflpartiesltolanlagreement;lnotlalcontrac
t

Manufacturer'slAgentl-lCORRECTlANSWER-alnon-
salariedlsaleslrepresentativelusuallylhavinglalcontractlwithlthelmanufacturerltolgetlalcommi
ssionlonlproductslsoldlwithinlanlagreedlarea

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