NIGP CPPO CERTIFICATION EXAM ACTUAL EXAM 130 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES|ALREADY GRADED A

NIGP CPPO CERTIFICATION EXAM 2023-2024

ACTUAL EXAM 130 QUESTIONS AND CORRECT

DETAILED ANSWERS WITH RATIONALES|ALREADY

GRADED A

legacy system - ANSWER- An outdated computer system that remains

in use despite the availability or more current technology. It usually is an

archaic data management platform that may contain proprietary custom

designed software such as an old database management system running

on mainframes. May run financial's, payroll, human resources,

purchasing, supply management, inventory control and other business

processes. The name given to a "home grown" technology system.

SWOT analysis - ANSWER- Utilized as a strategic planning tool to

improve organizational effectiveness. Developed by Alfred Humphrey

for business analysis.

benchmarking - ANSWER- The act of measuring a process, service, or

product against the characteristics of the recognized leaders in the given

area of review. A study, review, or process whereby a procurement

organization identifies world-class organizations with which to compare

its practices, policies and performance outcomes. an organization's

performance is judged against selected criteria from other organizations

deemed "bets in class".

Make-or-Buy Analysis - ANSWER- milestoneDetermines the cost

effectiveness of producing goods or services in-house vs. procuring

them from outside the organization.

partial payments - ANSWER- payments that permit the contractor to

invoice at intervals to coincide with the delivery and acceptance of

incremental supplies or services.

Cost Plus Fixed Fee - ANSWER- a contract whereby the contractor is

reimbursed for its actual incurred cost for material, labor and other

agreed to incidentals, plus a fixed sum established in the contract.

Qualified Products List (QPL) - ANSWER- A list of products that have

been examined, tested, and have satisfied all applicable qualification

requirements

cost-benefit analysis - ANSWER- a comparative evaluation of the trade

off between the cost of a good or service and the value or benefit to be

obtained to choose among alternatives

expedite - ANSWER- the effort to assure delivery of goods purchased in

accordance with a time schedule. An attempt to rush or improve a

delivery date.

Law of Agency - ANSWER- the legal relationship formed between two

people when one person agrees to perform work for another person.

Lifecycle costing - ANSWER- In evaluating alternatives, the

consideration of all costs - including acquisition, operation, and

disposition costs - that will be incurred over the entire time of product

ownership.

Gratuitous Offer - ANSWER- an uninvited condition or provision

submitted by a bidder

implied warranty - ANSWER- A warranty not specifically written that

the law derives by implication or inference from the nature of the

transaction or the relative situation or circumstances of the parties.

Invitations to Negotiate - ANSWER- single or concurrent invitations to

deal, trade, or make an offer to achieve the best value

fixed price contract with price determination - ANSWER- fixed price

contract with a firm initial price with the option to recalculate cost of

subsequent periods based on contractor performance

job description - ANSWER- a written description of the title, tasks,

duties, skills, and responsibilities required of an employee holding a

particular job

Inherent Authority - ANSWER- The authority of an agent to perform

activities that are not explicitly authorized but based on a government's

sovereignty to enter contracts.