NPMA CPPS Certification exam 2024 well solved with verified answers

NPMA CPPS Certification exam 2024 well solved with verified answers Property Management -Correct Answer-The exercise of a retaining or governing influence over the acquisition, use, and disposition of personal property Property Control Variety of Names -Correct Answer-Property Accounting, Fixed Asset Accounting, Inventory Control, Material, Property Control, Asset Management. Property Management Office PMO -Correct Answer-Department within an org that is responsible for controlling or managing property Property Manager -Correct Answer-PMO is headed by Property Manager is responsible for: -Correct Answer-establishing, guiding, managing, and maintaining an efficient property system, communicating effectively with other departments and functions, and developing and presenting training in property related subjects Property Control System is comprised of -Correct Answer-Property Management Personnel, processes, and mgmt info. systems (MIS). (Written policies, procedures, operational guidelines, and related records, and MIS that facilitates these functions). If org contracts with the government, property manager must -Correct Answer-have a working relationship with all sponsor reps Ownership -Correct Answer-Having legal or rightful title to property either owned by the org or is provided by a sponsor under some kind of agreement (sponsor has ownership). -Correct Answer-Property is either owned by or provided. Ownership of property allows the owner to -Correct Answer-make any and all decisions regarding the property It is the property professional job to support the property owner in -Correct Answer-making and implementing effective decisions regarding the property Duties, responsibilities, and potential penalties should be -Correct Answer-documented in a formal agreement between the provider and the recipient (contract, grant) Accountability -Correct Answer-means to posses and have use of the property of another with delegated duties and responsibilities, subject to penalty in case of default. Those accountable -Correct Answer-do not have legal or rightful title to the property Key elements of property accountability -Correct Answer-provider, recipient, specific duties and responsibilities, and penalties in case of default Who is accountable to who for property? -Correct Answer-Contractor is accountable to government. If gov. provides funding to acquire the property, NASA is accountable to government. Transfer of accountability -Correct Answer-When accountability shifts from one entity to another.... may or may not include physical relocation of assets, but will always include a change in accountability for the propert