NIGP CPPO CERTIFICATION EXAM ACTUAL EXAM 130 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES|ALREADY GRADED A
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Course
2024/2025
Institution
2024/2025
NIGP CPPO CERTIFICATION EXAM ACTUAL
EXAM 130 QUESTIONS AND CORRECT DETAILED
ANSWERS WITH RATIONALES|ALREADY GRADED A
Surety - Answer️️ -a pledge or guarantee by an insurance company, bank, individual
or corporation on behalf of a bidder or offeror which protects against default or failure ...
return on investment or ROI - Answer✔️✔️-A calculation used in business to determine
whether a proposed investment is a wise business decision and how well it will repay
the investor. It is calculated as the ratio of the amount gained or loss relative to the
basis. The analysis takes the form of a dynamic model or statistical model.
estoppel - Answer✔️✔️-A legal principal that prevents a person from asserting a position
that is inconsistent with his or her prior conduct, if injustice would thereby result to a
person who has changed position in justifiable reliance upon that conduct. For example,
a landlord informs a tenant that there was construction or a lapse in utility services. If
the tenant relies on this statement in choosing to remain on the premises, the landlord
could be barred under the principle from collecting full rent.
performance based contract - Answer✔️✔️-A results-oriented contracting method that
focuses on the outputs, quality or outcomes that may tie at least a portion of a
contractor's payment, contractor extensions, or contract renewals to the achievement of
specific, measurable performance standards and requirements. These contract may
include monetary and non-monetary incentives as well as specific remedies.
fiduciary duty - Answer✔️✔️-An individual's obligation to serve the best interests of
selected stakeholders, especially those of their employer.
sampling - Answer✔️✔️-A technique used to avoid examination of each item in a
population, yet will still be able to determine whether the entire population shall be
accepted as complying with the acceptable quality level or stated requirements.
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