CPPS Exam Chapters 1-11 Study online at https://quizlet.com/_e5the1 1. Property Management is not considered a core business function; but rather a key component of the business process. ( 1-1) TRUE or FALSE FALSE 2. Establishing and maintaining of a property control system is also the responsiblity of the: (1-2) ____ OPMO ____ PMO ____ PA ____ PMF PMO 3. Which three of the following are key elements of property accountability? (1-2) ____ Provider _____ Records Management _____ Recipient _____ Specific penalties in case of default -Provider -Recipient -Specific penalties in case of default 4. When accountability shifts from one entity to another it is called a: (1-3) ______ Transfer of accountability ______ Internal transfer ______ Transfer of custody ______Ownershiptransfer Transfer of accountability 5. The Property Control System is comprised of written policies, procedures, operational guidelines and related records as well as the management information system (MIS) that facilitates performing those functions. (1-4) TRUE or FALSE TRUE 6. 1 / 7 CPPS Exam Chapters 1-11 Study online at https://quizlet.com/_e5the1 The PMO must ensure that assets owned by the organization for which the they are accountable are adequately controlled, protected, preserved and maintained to maximize their: (1-4) ____ Aadequate security and longevity ____ Useful life and provide the best possible return on investment ____ Accuracy of records and residual book value Useful life and provide the best possible return on investment 7. There are several factors that influence where the property function would most effectively reside. They do not include include: (1-5) _____ Type, size, and geographical layout of the organization Compliance requirements and related risks Availability of outsourcing resources Level and type of interface needed with key stakeholders Availability of outsourcing resources 8. 9) For organizations that are able to decide upon the implementation of the organizational structure for their property function, which would be top considerations? (1-6) ______ Centralized vs. Decentralized ______ Single individual responsibility vs. a fully staffed Property division or department ______ Functional groupings within the department-by business process, support to business team, area for specialty, type of property, etc. ______ The level of ability for staff members to communicat -Centralized vs. Decentralized -Functional groupings within the department-by business process, support to business team, area for specialty, type of property, etc. 9. The term used when one has the legal or rightful title to property is (1-2): Ownership 10. Managed by the Property Manager and responsible for a property control system. Program Manager 2 / 7 CPPS Exam Chapters 1-11 Study online at https://quizlet.com/_e5the1 A.) Program Manager B.) Property Management Office C.) Asset User D.) Department Head 11. Assigned the task of reporting, receipt, movement, etc of assets through systems transactions. A.) Program Manager B.) Property Management Office C.) Asset User D.) Department Head Property Management Office 12. Persons within the program organizations who identifies a need for property. A.) Program Manager B.) Property Management Office C.) Asset User D.) Department Head Asset User 13. Ensures that personnel within their units follow policies and procedures A.) Program Manager B.) Property Management Office C.) Asset User D.) Department Head Department Head 14. Which element of the property control system is crucial to the entire process? (1-7) _____ Asset Accounting entries _____ Asset Records _____ Financial records _____ Receiving logs Asset Records 15. Property records are modified during the entire life cycle of property items according to the record-keeping requirements for each type of property and the organization's ____Policies and Procedures. (1-7) Policies and Procedures 16. 3 / 7 CPPS Exam Chapters 1-11 Study online at https://quizlet.com/_e5the1 When an asset is capitalized, which three of the following data elements should be included? (1-9) _____ Useful life _____ Depreciation method _____ General ledger account _____ Appreciation index -Useful life -Depreciation method -General ledger account 17. Vendor name, estimated cost, budget codes A.)Procurement B.)Receiving C.)Accounts Payable D.)Put In Service E.)Disposition Procurement 18. Shipping costs, receipt date, warranty information A.)Procurement B.)Receiving C.)Accounts Payable D.)Put In Service E.)Disposition Receiving 19. Acquisition cost, voucher number, final budget codes A.)Procurement B.)Receiving C.)Accounts Payable D.)Put In Service E.)Disposition Accounts Payable 20. Location, responsible person, condition code A.)Procurement B.)Receiving C.)Accounts Payable D.)Put In Service E.)Disposition Put In Service 21. Advertising date, disposal date, amount received A.)Procurement B.)Receiving C.)Accounts Payable Disposition