100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
CPCM Study Guide Questions with Correct Answers CA$18.87   Add to cart
Quickly navigate to
Preview
  2.  
  3. CPCM
  4.  
  5. CPCM

Exam (elaborations)

CPCM Study Guide Questions with Correct Answers
 11 views  0 purchase
  • Course
  • CPCM
  • Institution
  • CPCM

CPCM Study Guide Questions with Correct Answers Basic Agreement - Answer-written negotiated agreement between the buyer and seller that contains terms and conditions and serves as an agreement for future contracts between the parties but is not considered a contract RFQ - Answer-normally used i...

[Show more]

Preview 3 out of 29  pages

Document information

  • August 3, 2024
  • 29
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • cpcm
  • cpcm study guide
  • cpcm study guide questions with correct answers

Written for

  • CPCM
  • CPCM

Seller

avatar-seller
Scholarsstudyguide

Reviews received

Content preview

CPCM Study Guide Questions with
Correct Answers
Basic Agreement - Answer-written negotiated agreement between the buyer and seller
that contains terms and conditions and serves as an agreement for future contracts
between the parties but is not considered a contract

RFQ - Answer-normally used in simplified acquisition or negotiated procurement when
award will be made after negotiations. Only considered a contract through supplier
signature or the start of work.

acid test ratio - Answer-how well the company's current liabilities can be satisfied by its
current assets less inventory

subjective quality assurance - Answer-vague terms such as - best efforts, acceptable
practices, or as requested

extrinsic evidence - Answer-discussions and concurrent actions, prior course of
dealings between the parties, and custom and trade usage.

explicit change - Answer-the buyer accepts a late delivery thereby modifying the
contract delivery date

mutual assent - Answer-consists of an offer made by one party and the unconditional
acceptance of that offer by another party

conduct of the parties - Answer-modification that may result in an unintentional contract
change

cash flows from operating, investing, and financing activities = cash received during that
period + cash balance at the start = cash balance at the end - Answer-statement of
cash flows

strategic domain - Answer-looks at tomorrow and its possibilities- not really interested in
what is practical, but what is possible

licensing - Answer-permits the usage of software, patents, trademarks, or technology by
another entity without transferring ownership rights

direct costing - Answer-type of product costing that charged fixed manufacturing
overhead immediately against the revenue of the period in which it was incurred without
assigning it to specific units produced.

,termination for default - Answer-results from one party's failure to perform one or more
actions required by contract.

electronic data interchange (EDI) - Answer-the computer to computer exchange of
standard business documentation in machine-processable form

capital - Answer-factors of production that are used to create good and services and are
not themselves in the process

Ad Valorem - Answer-"according to value" usually applied to a customs duty charged on
the value only of goods that are dutiable, irrespective of quality, weight, or any other
considerations.

current assets - Answer-can be converted into cash within one year- cash, marketable
securities, inventory, accounts receivable.

investing activities - Answer-cash flow from sales and purchases of long term assets

directed change - Answer-change that must be within the scope of the original contract
and may be directed in drawings, designs, or specifications, methods of shipping or
packing, or place of delivery

unilateral nonperformance - Answer-termination of a contract by one of the parties. this
is most commonly available as a remedy for the seller's nonperformance or the buyer's
failure to pay.

patent - Answer-government grant of exclusive rights to an inventor that prohibits others
from making, using, or selling an invention. Good for 20 years.

condition subsequent - Answer-condition that suspends a term in the contract. an event
that terminates the duty of a party to perform

contra pro ferentem - Answer-"against the one bringing forth" ambiguous provisions are
construed most strongly against the party who selected the language.

cash flow statement - Answer-reports a company's inflow and outflow of cash. identifies
if the company generated cash during business operations and shows changes
overtime.

liquidity ratio - Answer-company's ability to meet its short term obligations

should cost - Answer-estimate of what an item should cost based upon an evaluation by
independent reviewers of all contractor business methods

, implied warranty of fitness for a particular purpose - Answer-when a seller knows or has
reason to know of a particular purpose for which some item is being purchased by the
buy and the seller is guaranteeing that the item is a fit for that particular purpose.

royalties - Answer-percentage of gross or net profit or a fixed amount per sale to which
a creator of a work is entitled that is agreed upon in a contract.


Trademark - Answer-word, name, symbol, or device that is used with goods to indicate
the source of the goods and to distinguish from the goods of others.

constructive acceleration - Answer-requirement that a contractor complete its work by a
date earlier than one that would reflect the time extensions to which it's entitled because
of an excusable delay.

price analysis - Answer-process of examining & evaluating a price without the
evaluation of the separate cost elements and proposed profit of the offeror- normally
FFP

deductive change - Answer-change resulting in the reduction in contract price because
of a net reduction in the contractor's work

information processing services organization (IPSO) - Answer-discrete set of personnel,
it, and support equipment with the primary function of providing services to more than
one agency on a reimbursable basis

consignee - Answer-person, group of persons, or organization receiving
supplies/services that is named on the bill of landing.

abstract of title - Answer-a condensed history of the title to property based on past
records

current year dollars - Answer-level of cost, with inflation, in the year that actual cost will
be incurred

international commercial terms (INCOTERMS) - Answer-clarifies destination, risk &
liability, point of title transfer, and cost inclusions. Enables parties contracting for the
purchase of sale of goods internationally to simply and concisely allocate their
responsibility for transportation, custom fees, documentation requirements, risk of loss
or damage, and insurance

Kanban System - Answer-production flow control that utilizes cards to pull in process
where items are called for only as they are needed in the next step of the production.

auxiliary technique - Answer-price analysis used to support results from primary or
secondary comparions

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Scholarsstudyguide. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$18.87. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77254 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$18.87
  • (0)
  Add to cart