NCMA CPCM Quiz - Contract Management Body of Knowledge (CMBOK) Question with 100% Complete Solution, A+

Recommended basic types of feedback - cORRECT sOLUTION Corrective, confirmatory, motivating A decisive leader is - cORRECT sOLUTION Confident and effective Which of the following is a leadership process competency? (-a. Character, -b. Credibility, -c. Confidence, -d. Cooperation) - cORRECT sOLUTION Character Which of the following is not a step in the 6-step Decision-Making process to decisive decision making? (-a. Provide feedback, -b. Implement the decision, -c. Collect internal and external opinions , -d. Pre-plan strategies to make the decision) - cORRECT sOLUTION Collect internal and external opinions What can reduce or even eliminate the creative process? - cORRECT sOLUTION Forced consensus In which decision-making step should one create objectives and goals? - cORRECT sOLUTION Pre-plan strategies An integrative thinker is: - cORRECT sOLUTION able to create innovative solutions to problems Step 4 of the 6-step Decision-Making Process advises leaders to create a written plan that: - cORRECT sOLUTION Details the problem, determines the root cause, and lists criteria to help choose a solution What reflects a leadership activity for a contract manager? (-a. Resolving a dispute with a supplier., -b. Quoting the Federal Acquisition Regulation., -c. Promptly responding to seller inquiries., -d. Developing questions in response to a solicitation.) - cORRECT sOLUTION Resolving a dispute with a supplier. Which of the following describes a leader who is developing new leaders? -a. Develops the bottom 20% of the workforce, -b. Treats everyone the same, -c. Grows the organization by addition, -d. Focuses on individual strengths) - cORRECT sOLUTION Focuses on individual strengths What best reflects the relationship between the leader and vision? - cORRECT sOLUTION Leader + vision = result Employee __________ is a major component of organizational success. - cORRECT sOLUTION Motivation _________ and _________ competencies support the technical application of contract management.. - cORRECT sOLUTION Leadership and Management Assuring your organization adheres to high ethical standards is an example of what? - cORRECT sOLUTION A leader's focus on character Which of the following can impede leaders from developing a vision? (Failing to consult others, Focusing on the day-to-day, Being inflexible, Living in the past) - cORRECT sOLUTION Living in the past When a leader in your organization insists that you accomplish something that you believe is unethical, it likely reflects what? - cORRECT sOLUTION Abuse of power Why would contract managers need vision? - cORRECT sOLUTION To drive behaviors that achieve the mission Optimism is an important leadership tool, but it can be undermined by: - cORRECT sOLUTION Inflexibility You've read FAR 33.103 (Agency Protests) over and over and are still unable to determine if you can go ahead and award the contract. This could be an example of _______________, and your next step could be _______________. - cORRECT sOLUTION Insufficient information; consult with stakeholders Character is composed of which three elements? - cORRECT sOLUTION Integrity, optimism, decisiveness When pre-planning strategies for making a decision, the leader should: - cORRECT sOLUTION Dispel assumptions that can negatively affect his/her leadership role Which of the following is a principle required for an organizational culture of high ethical standards? (-a. Documenting all decisions, -b. Providing rationale for all decisions, -c. Including others in decisions, -d. Leading by example) - cORRECT sOLUTION Leading by example When your supervisor fails to delegate tasks to you, preferring to do it themselves, what is this called? - cORRECT sOLUTION Resisting force to achieving competence Successful contract management depends on the leader's ability to integrate: - cORRECT sOLUTION The leadership process competencies If you are an experienced contract management leader and you need to make a fast, high risk decision in an uncertain situation, what is the best approach? - cORRECT sOLUTION Intuition Risk management is: - cORRECT sOLUTION The ability to efficiently and cost-effectively mitigate problems When tracking costs following the award of a contract, what is latency? - cORRECT sOLUTION The delay between when a cost is incurred and when it appears in the accounting system. This costing method uses a two-step process: 1 - assign the resource costs of each activity, and 2 - assign activity costs to the output: - cORRECT sOLUTION Activity-Based Costing System. The process for creating the Resource-Loaded Schedule begins with: - cORRECT sOLUTION ...extracting a Work Breakdown Structure from the Statement of Work. When suppliers are being certified or pre-qualified they have been: - cORRECT sOLUTION Screened Regardless of an organization's contracting activity size and purpose, the following four key functions of management are essential: - cORRECT sOLUTION Planning, Organizing, Directing, Controlling Analysis to measure the company's ability to meet current and long-term obligations would use the following ratio: - cORRECT sOLUTION Solvency Ratio. Providing information to satisfy Federal contract reporting requires the comparison of current accounting data and a time-phased program budget. One standard approach is the use of: - cORRECT sOLUTION An "S" Curve that represents how activities ramp up and tail off during a project. Supply Chain Management: - cORRECT sOLUTION Involves managing the activities to produce and deliver a product or service from suppliers to the end user customer A contracting officer is preparing to award a contract for Advisory & Assistance Services to a small business. The contracting officer wants to make sure the small business is financially capable of performing and managing the contract. The Contracting Officer requests the contractors Balance Sheet from the most recently completed fiscal year.