CPCM Practice Exam 2024 | All Questions and Answers | Verified Answers | Latest Version
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CPCM Practice
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CPCM Practice
CPCM Practice Exam 2024 | All Questions and Answers | Verified Answers | Latest Version
CPCM Practice Exam 2024 | All Questions and Answers | Verified Answers | Latest Version
CPCM Practice Exam 2024 | All Questions and Answers | Verified Answers | Latest Version Acquisition statutes are __________ in the Federal Acquisition Regulation ----
CORRECT ANSWER ----------- Implemented A hurricane destroying a manufacturing plant is an example of: ----CORRECT ANSWER ----------- Force majeure Guileless Imports purchased , metal wheels from Annular Supply Co. under a sale on approval contract. Annular Supply delivered the wheels to Fraught Freight for shipping to the destination, but the shipping container sank and all the wheels were lost. Which party bears liability for the loss? ----CORRECT ANSWER ----------- The seller is fully liable Which of the following is not a requirement of a written contract for the sale of goods? --
--CORRECT ANSWER ----------- a-A specified quantity b-Sufficient detail to indicate that a contrac t for sale has been made c-The signature of the buying party D-THE PLACE OF DELIVERY The CMBOK suggests that: ----CORRECT ANSWER ----------- Certification is an indicator of professional strength An Organizational Conflict of Interest exists when: ----CORRECT ANSWER ----------- The nature of the work to be performed under a contract may result in an unfair competitive advantage to the contractor Which of the following would be considered a characteristic of a successful knowledge management framework? ----CORRECT ANSWER ----------- A-GROUPS OF SUBJECT MATTER EXPERTS CONNECTED THROUGH TECHNOLOGY. b-An information repository that is exclusively available to top level executives. c-Incorporating training in contract budgets d-Waiting until the end of a project to record lessons learned and apply them to the next project. Which of the following is not a competency of Guiding Principles? ----CORRECT ANSWER ----------- a-Contract Principles b-Team Dynamics c-Regulatory Assessment D-COLL ABORATION Which of the following describes perfect competition? ----CORRECT ANSWER -----------
Many independent buyers; many independent sellers; easy entry to market; balanced pricing between buyers and sellers. Fenway Company verbally agreed to purch ase 5 fans from Top Fans Inc., at the total price of $476.20. Top Fans Inc. delivered two of the fans but has not delivered the other 3 fans. Fenway paid for the 2 fans delivered. Which of the following is true? ----
CORRECT ANSWER ----------- Although Top Fa ns already delivered, and Fenway accepted, the 2 fans, Top Fans can still provide a written notice of its objection to the contract to preclude it from being enforced. Complete the equation: All the information + all the ________ = Knowledge ----
CORRECT ANSWER ----------- Experience There are four types of knowledge required by contracts managers. The communication skills needed for a successful negotiation would fall in to which of the following categories? ----CORRECT ANSWER ----------- a-Strategic Know ledge b-Explicit Knowledge C- TACIT KNOWLEDGE d-Procedural Knowledge In contract interpretation, the practices or methods of dealing that are regularly observed and justify an expectation that they will apply to a specific transaction are called what? ----CORRECT ANSWER ----------- Course of dealing Which skill below is needed to be a successful contract manager? ----CORRECT ANSWER ----------- a-Sociability b-Tena ciousness C=CREATIVITY d-Persistence During contract performance which party is most likely to bear the risk of loss? ----
CORRECT ANSWER ----------- The party who had control of the goods when the loss occurred. Knowledge Management is best described b y which of the following? ----CORRECT ANSWER ----------- A-AN ORGANIZATION'S CAPABILITY TO CAPTURE AND REUSE CRITICAL AND RELEVANT INFORMATION. b-An organization's emphasis on professional development. c-The capability of an organization's training program t o effectively train staff in relevant job skills. d-An organization's awareness of how information and events will impact its long and short term goals. Divestiture of a company (the creation of a new company with a completely separate board of director s) may be recommended as a remedy for what? ----CORRECT ANSWER ----------- Organizational conflict of interest. A government contracting officer representative is designated via a letter of appointment signed by the contracting officer that delineates specific duties and responsibilities. This is an example of what: ----CORRECT ANSWER ----------- A-EXPRESS AUTHORITY b-Written agency c-Specified authority d-Delineation of authority When someone not authorized to act on behalf of a principal causes action by another party, it is: ----CORRECT ANSWER ----------- a-Assumed authority B-APPARENT AUTHORITY c-Non-express authority d-Implied authority The Sarbanes -Oxley Act: ----CORRECT ANSWER ----------- Prevents companies from accounting for unrealized profits Article 2 of the UCC covers: ----CORRECT ANSWER ----------- The Sale of Goods When conducting research, asking "Is this information current, official, and verifiabl e?" is an example of what? ----CORRECT ANSWER ----------- Information filtering Company A, Company B, and Company C produce 95% of Produce X. If Company B raises the price of its Product X, consumers may choose to buy from Company A or Company C instead. This is an example of: ----CORRECT ANSWER ----------- A-
COMPETITIVE ADVANTAGE b-Effective competition c-Oligopsony d-Oligopoly The government's authority to enter into a contract comes from: ----CORRECT ANSWER ----------- The U.S. Constitution Which of the following is not one of the tenets of successful contract management team? ----CORRECT ANSWER ----------- a=Communication b-Openness to change C-SHARED LEADERSHIP d-Trust
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