FREE BUSINESS AND STUDY GAMES ABOUT CPPB PREP

PDF Download

FREE BUSINESS AND STUDY GAMES ABOUT CPPB PREP

EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -47 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: UCC Requirements Payment

Answer:

Upon receipt, buyer is obligated to pay; payment is due upon receipt, Include entity payment policy in contract or PO

Question 2: UCC Requirements Delivery & Acceptance

Answer:

Seller's responsibility to make goods available, Reasonable time to deliver goods, Reasonable time to inspect goods

Question 3: Goals of Public Procurement

Answer:

Cost, Quality, Timeliness, Managing Risks, Accomplishing Social and Economic Objectives, Maximizing Competetion, Maintain Integrity and Transparency Question 4: The factors that affect the decision to stock or not to stock an item include?

Answer:

Special storage conditions, Freight costs, and Lead time of an item

Question 5: Which type of contract is intended to encourage the contractor to effectively manage contract costs to the mutual benefit of both parties?

Answer:

Fixed-price and incentive Question 6: To aid in determining suppliers' responsibility for a bidders list, a good practice is?

Answer:

A pre-qualification process

Question 7: The purpose of determining the Economic Order Quantity (EOC) is to

Answer:

Balance ordering and carrying costs, establish the optimum order quantity, and reduce some purchasing costs Question 8: A market in which few companies dominate with the power to control price is called?

Answer:

Oligopoly

Question 9: Centralized Benefits

Answer:

Minimizes duplication, assures accountability, Promotes consistency, Provides max competition, Volume discounts, better inventory control, reduce cost

Question 10: What is the fundamental purchasing responsibility?

Answer:

To provide the right quantity, of the right quality, at the right place, at the right time Question 11: The use of which cost-type contract is prohibited in most jurisdictions and by the US Government?

Answer:

Cost plus percentage of cost

Question 12: Which of the federal laws prohibits price discrimination, tying arragements, and certain mergers and acquisitions?

Answer:

The Clayton Act, amended 1936

Question 13: Good management reports?

Answer:

Save the reader time Question 14: Which type of transportation service is not subject to economic regulation by the ICC?

Answer:

Private carriers

Question 15: Executive Branch

Answer:

Heart of Public Procurement

Question 16: Effective reporting and documentation will?

Answer:

Facilitate a buyer's ability to deal effectively with suppliers

Question 17: Two primary kinds of compensation arrangements for contracts are?

Answer:

Fixed price and cost

Question 18: The four types of fixed price contracts are?

Answer:

Firm, escalation, incentive, and redetermination

Question 19: Judiciary Branch

Answer:

Decides issues that come up

Question 20: What are the necessary elements for a successful warehouse operation?

Answer:

Deciding wheather to keep certain items on hand, deciding how to manage stored items in an economical, efficient, and effective manner, and supporting government operations

Question 21: To be most effective, purchasing must?

Answer:

Establish a combination of centralized and decentralized operations

Question 22: Documents in the purchasing department?

Answer:

Includes manuals, lists, forms, records, files and reports Question 23: When the desired result is to insure acceptable performance and development on a contract, the buyer should utilize?

Answer:

Progress payment plan

Question 24: When purchasing bona fide sole source items?

Answer:

The contract should be negotiated

Question 25: Legislature Branch

Answer:

Enacts laws

Question 26: What is the essential purpose of an inspection?

Answer:

To ensure the quality of the goods received, verify the product specsifications have been met, and to protect the using agency from receiving unacceptable goods.Question 27: Although a salvage program many not be cost effective, the entity is most likely to proceed with the program because?

Answer:

Legal and environmental factors demand such programs