Free CPPM Practice Questions

Question 1

At year-end, a laboratory's custodial equipment register contains six more instruments than its owned-equipment financial subledger. The difference consists entirely of manufacturer-owned demonstration units, loaned without charge under signed return agreements. Their ownership is correctly identified, and the laboratory has no purchase or lease obligation. Finance asks the property manager to eliminate the difference before sign-off. What should the reconciliation show?

Accepted Answer

Reconcile the six third-party units separately, retaining their loan terms and custody records.

Answer

Remove the loaned units from the register; retain their return agreements.

Answer

Capitalize the six units and recognize corresponding liabilities to the manufacturers.

Answer

Return the units before year-end sign-off, even though their authorized evaluation periods remain open.

Question 2

A production test cell reports 96% utilization but only 61% availability. Utilization is calculated over hours when the cell is ready to operate; availability is calculated over required service hours. Missed tests coincide with long waits for repair parts, while demand and staffing are unchanged. Before approving a second cell, management should address:

Accepted Answer

Spare-parts support, since the utilization percentage excludes the repair delays constraining output.

Answer

Installed testing capacity, by adding a second cell to relieve the reported 96% utilization.

Answer

Preventive maintenance, by reducing time reserved for scheduled servicing.

Answer

Staffing capacity, by adding another shift to spread the existing testing workload.

Question 3

An internal auditor randomly selects 60 completed property transfers to test the requirement for documented recipient acknowledgment. Five selected transfers have neither an acknowledgment nor suitable alternative evidence of receipt. The warehouse supervisor offers five fully documented transfers as replacements. How should the original five selections be treated?

Accepted Answer

Treat them as control deviations in the original sample; do not substitute successful transactions.

Answer

Use replacement transactions, preserving the planned 60-item sample size.

Answer

Exclude the five transfers because supporting documentation is unavailable.

Answer

Report a filing deficiency without counting those transfers as control exceptions.

Question 4

After a connection timeout, a receiving interface sometimes retransmits a transaction that the property system has already posted. Each retransmission retains the original unique transaction ID, yet the system records another receipt. Separate legitimate deliveries can have identical part numbers and quantities. Which control prevents the duplicate balances without blocking those legitimate deliveries?

Accepted Answer

Reject previously posted transaction IDs and log the rejected repeats.

Answer

Reject receipts with matching part numbers and quantities.

Answer

Post every receipt, then report duplicates at month-end.

Answer

Disable automatic retries and require staff to re-enter every timed-out receipt.

Question 5

A storeroom uses continuous review and orders when inventory position reaches expected lead-time demand plus safety stock. Demand is 18 filters per working day, replenishment takes six working days, and safety stock is 30 filters. There are 110 serviceable filters on hand, 60 on a confirmed order arriving in two working days, and 10 backordered to users. There are no other commitments or supply delays. What does the replenishment policy require today?

Accepted Answer

Do not order: position is 160 filters, above the 138-filter reorder point.

Answer

Order: position is 100 filters, below the 138-filter reorder point.

Answer

No order is needed: position is 180 filters, above the 138-filter reorder point.

Answer

Order: 110 filters on hand is below the 138-filter reorder point.

Question 6

A nonprofit has completed its federal project and documented that two spectrometers are no longer needed for any current or previously federally supported activity. Each originally cost $32,000; each now has a fair market value of $7,500. The award applies the current 2 CFR 200.313 rules, including the $10,000 disposition threshold, and imposes no additional disposition conditions. Staff argue that the combined $15,000 value requires federal repayment. What is the correct disposition position?

Accepted Answer

Either unit may be sold without a federal repayment obligation.

Answer

Instructions are required because the pair is worth $15,000.

Answer

The federal share of the original $32,000 per unit must be repaid.

Answer

The federal share of each unit's sale proceeds must be remitted.

Question 7

A scanner-pooling program reduces annual rental payments from $240,000 to $150,000 without reducing demand or service levels. Running the pool adds $30,000 in annual transport and administration payments. A one-time $20,000 implementation payment was made in the first year. There are no other cost changes. Assuming these annual figures continue, which net cash-savings statement should the property manager approve?

Accepted Answer

First-year savings of $40,000; then $60,000 per year.

Answer

First-year savings of $60,000; then $60,000 per year.

Answer

$90,000 per year, excluding the one-time implementation payment.

Answer

$40,000 per year throughout the program's remaining operating life.

Question 8

During a physical inventory, a counter finds that an analyzer's manufacturer's serial number differs from the serial number in the register. The quantity, model, and location agree. Receiving and shipping documents establish an authorized whole-unit warranty exchange: the original analyzer was returned, and the supplier delivered this replacement. The exchange was never posted. How should the discrepancy be resolved?

Accepted Answer

Post the exchange, update the active serial number, and retain the return-and-receipt evidence.

Answer

Keep the original serial number because the model and acquisition cost match.

Answer

Create a second active record pending the next inventory.

Answer

Open an unexplained-loss case for the original serial number.

Question 9

A forklift operator reports a sinking brake pedal and a visible brake-fluid leak just before an outbound truck must be loaded. The forklift is now parked with its forks lowered. A spare of suitable capacity has passed its pre-use checks, and a qualified operator is available. The dispatch supervisor should:

Accepted Answer

Remove the defective forklift from service and use the inspected spare.

Answer

Reduce its loads and speed until the outbound truck is loaded.

Answer

Use it only for stationary lifting, with an operator watching the leak.

Answer

Stop loading until every forklift receives a special brake inspection.

Question 10

Near contract closeout, lightning destroys a properly protected government-owned instrument. The contract contains the basic FAR 52.245-1 liability provision, without an alternate or other risk-shifting term. Investigation establishes no managerial willful misconduct or lack of good faith, no insurance or other reimbursement, and no written withdrawal of the Government's assumption of risk. The contractor has reported the loss, but the Property Administrator has not granted relief. Which treatment follows the clause?

Accepted Answer

Keep the case open pending documented relief; the established facts do not support contractor liability.

Answer

Require contractor-funded replacement before granting property clearance.

Answer

Remove the asset now because the Government bears the loss.

Answer

Treat the destruction as normal consumption under the approved safeguarding procedures.

Free CPPM Practice Questions

Domain 1: Acquisition

Question 1

Question 2

Domain 2: Audits

Question 3

Question 4

Question 5

Domain 3: Consumption

Question 6

Domain 5: Control: Ownership, Responsibility, and Accountability

Question 7

Domain 6: Disposition and Retirement

Question 8

Question 9

Domain 7: Environmental Considerations

Question 10

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