NCMA CPCM test Questions with multiple choices verified

NCMA CPCM test Questions with multiple choices verified If you are an experienced contract management leader and you need to make a fast, high risk decision in an uncertain situation, what is the best approach? -Intuition -Fact finding -Analysis -Consultation - CORRECT ANSWER-Intuition When pre-planning strategies for making a decision, the leader should: -Dispel assumptions that can negatively affect his/her leadership role -Assume others think in a certain way -Provide no indication of his/her position on the strategy as the team deliberates -Avoid the spotlight - CORRECT ANSWER-Dispel assumptions that can negatively affect his/her leadership role A decisive leader is: -Aggressive and competent -Competent and effective -Confident and competent -Confident and effective - CORRECT ANSWER-Confident and effective The act of moving goods out of one's internal organization to another organization due to loss of value is: -Transition -Disposal -Investment Recovery -Disposition - CORRECT ANSWER-Disposition The statement "The probability of a delivery failure is only 10%, but the impact on our mission would be catastrophic" is an example of _________________. -Risk mitigation -Components of risk -Risk management -Probability analysis - CORRECT ANSWER-Components of risk Which of the following is not a responsibility of Supply Chain Management? -Standardizing requirements -Achieve low cost contracts -Maximizing quality -Foster cross-functional relationships - CORRECT ANSWER-Achieve low cost contracts An Organizational Conflict of Interest exists when: -Only one contractor is competing for the contract -More than one contractor is incentivized to compete for a contract -The nature of the work to be performed under a contract may result in an unfair competitive advantage to the contractor -The contractor selected for award will have an unfair competitive advantage for future work. - CORRECT ANSWER-The nature of the work to be performed under a contract may result in an unfair competitive advantage to the contractor No debt may be paid out of public funds unless Congress has made an ______________ for that purpose. -Authorization -Allotment -Obligation -Appropriation - CORRECT ANSWER-Appropriation Which of the following describes perfect competition? -Many independent buyers, few independent sellers, easy entry to market balanced pricing between buyers and sellers -Many independent buyers, many independent sellers, moderate entry to market, balanced costs between buyers and sellers -Some independent buyers, some independent sellers, moderate entry to market, balanced pricing between buyers and sellers -Many independent buyers, many independent sellers, easy entry to market, balanced pricing between buyers and sellers - CORRECT ANSWER-Many independent buyers, many independent sellers, easy entry to market, balanced pricing between buyers and sellers A brief statement of the goal to be achieved, the end product desired, or the basic purpose of a requirement is called what? -Statement of Work -Acquisition plan -Scope -Objective - CORRECT ANSWER-Objective