NPMA CPPS Certification Questions With 100%Verified Answers A+GRADED
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Course
Certified Professional Property Specialist
Institution
Certified Professional Property Specialist
NPMA CPPS Certification Questions With 100%Verified Answers A+GRADED
Property Management - correct answer...The exercise of a retaining or governing influence over the acquisition, use, and disposition of personal property
Property Control Variety of Names - correct answer...Property Accounti...
NPMA CPPS Certification Questions
With 100%Verified Answers A+GRADED
Property Management - correct answer...✔✔The exercise of a retaining or governing
influence over the acquisition, use, and disposition of personal property
Property Control Variety of Names - correct answer...✔✔Property Accounting, Fixed
Asset Accounting, Inventory Control, Material, Property Control, Asset Management.
Property Management Office PMO - correct answer...✔✔Department within an org that
is responsible for controlling or managing property
Property Manager - correct answer...✔✔PMO is headed by
Property Manager is responsible for: - correct answer...✔✔establishing, guiding,
managing, and maintaining an efficient property system, communicating effectively with
other departments and functions, and developing and presenting training in property
related subjects
Property Control System is comprised of - correct answer...✔✔Property Management
Personnel, processes, and mgmt info. systems (MIS). (Written policies, procedures,
operational guidelines, and related records, and MIS that facilitates these functions).
If org contracts with the government, property manager must - correct answer...✔✔
have a working relationship with all sponsor reps
Ownership - correct answer...✔✔Having legal or rightful title to property
either owned by the org or is provided by a sponsor under some kind of agreement
(sponsor has ownership). - correct answer...✔✔Property is either owned by or
provided.
Ownership of property allows the owner to - correct answer...✔✔make any and all
decisions regarding the property
It is the property professional job to support the property owner in - correct answer...✔
✔making and implementing effective decisions regarding the property
Duties, responsibilities, and potential penalties should be - correct answer...✔✔
documented in a formal agreement between the provider and the recipient (contract,
grant)
AGRADESOLUTIONS
, Accountability - correct answer...✔✔means to posses and have use of the property of
another with delegated duties and responsibilities, subject to penalty in case of default.
Those accountable - correct answer...✔✔do not have legal or rightful title to the
property
Key elements of property accountability - correct answer...✔✔provider, recipient,
specific duties and responsibilities, and penalties in case of default
Who is accountable to who for property? - correct answer...✔✔Contractor is
accountable to government. If gov. provides funding to acquire the property, NASA is
accountable to government.
Transfer of accountability - correct answer...✔✔When accountability shifts from one
entity to another.... may or may not include physical relocation of assets, but will always
include a change in accountability for the property
Approvals for giving and accepting orgs - correct answer...✔✔both must have
appropriate levels of mgmt authority approval, and both contracting officers need to
approve
Approvals for transfers - correct answer...✔✔must be obtain before the transfer occurs,
in writing, either within award doc, a letter, or email, and made part of the file for audit
trail
transfer doc must include - correct answer...✔✔date of transfer, the purpose of the
transfer, description of property, contract numbers
Interdepartmental transfers - correct answer...✔✔These occur routinely within orgs,
usually result of org changes, shift of work between departments, or excess assets are
needed by another department
Interdepartmental transfer occurs when - correct answer...✔✔property and
accountability shift from one org to another
confusion results when accountability rests above the department level. This is still
sometimes called interdepartment transfer, but - correct answer...✔✔it is a transfer of
responsibility, not accountability
Responsibility - correct answer...✔✔means to be answerable for a trust or obligation.
Less formal than accountability
While accountability includes responsibility - correct answer...✔✔Responsibility does
not include accountability
AGRADESOLUTIONS
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