Page |1
CERTIFIED PROFESSIONAL PROPERTY
SPECIALIST CPPS - STUDY GUIDE 2025|
BRANDNEW ACTUAL EXAM WITH 100%
VERIFIED QUESTIONS AND CORRECT
ANSWERS| GUARANTEED VALUE PACK|
ACE YOUR GRADES.
Benefits of an Effective Property Function - Correct Answer-
- Maximize return of Investment
- Facilitate Compliance
- Maximize reutilization
- Depreciation expense
Other names of Property Accounting - Correct Answer-- Fixed asset
accounting
- Inventory Control
- Material/Property Control
Three key concepts of Property Management - Correct Answer--
Ownership
- Accountability
- Responsibility
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Records - Correct Answer-- Crucial element of Property Control
Management
Begin during acqusition process, continues through every related
transaction to include protection, preservation, utilization, maintenance and
disposition - Correct Answer-Records
Cornerstone of effective Property Control - Correct Answer-
Communication, to include routine or special purpose reports, and Training
Benefits gained by efficient property management - Correct Answer--
Return of Investment (ROI)
-Reutilization of excess property
-Compliance of internal and external procedures
-Value of organization
What is Process? - Correct Answer-The series of steps taken to produce a
desired result
What is Procedure? - Correct Answer-Steps that must be followed to
produce results
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Having legal/rightful title to property either by organization or sponsor under
certain terms - Correct Answer-Ownership
Means to possess and have use of company property with delegated duties
and responsibilties - Correct Answer-Accountability
Key elements of Property Accountabilty - Correct Answer-- Provider
- Recipient
- Specific duties and responsibilities
- Specific penalties in case of default
Transfer of accountability - Correct Answer-When accountability shifts from
one entity to another.... may or may not include physical relocation of
assets
Transfer approval must be coordinated when, how, and why? - Correct
Answer-When? In advance
How? in writing
Why? To be made of historical file and audit trail of assets
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Transfer document must include three things? - Correct Answer-1. Effective
date of transfer
2. Purpose of transfer
3. Description of property to be transferred
Bottom line... transfers occur when property and accountability shift from
what? - Correct Answer-From the using organization to another
An organization with multiple sites with multiple subunits, change in
location is a ______________ and not an
_____________________________ - Correct Answer-Change in location
is a movement not an interdepartmental transfer
What is responsibility? - Correct Answer-to be answerable for a trust or
obligation
Property Professional Key distinction Standpoint - Correct Answer-One is
accountable to someone for the property while being responsible for certain
actions ie maintenance/storage related to the property or asset
Interdepartmental transfers of property occurs when? - Correct Answer-
When property and accountability shift from the using organization to
another
CERTIFIED PROFESSIONAL PROPERTY
SPECIALIST CPPS - STUDY GUIDE 2025|
BRANDNEW ACTUAL EXAM WITH 100%
VERIFIED QUESTIONS AND CORRECT
ANSWERS| GUARANTEED VALUE PACK|
ACE YOUR GRADES.
Benefits of an Effective Property Function - Correct Answer-
- Maximize return of Investment
- Facilitate Compliance
- Maximize reutilization
- Depreciation expense
Other names of Property Accounting - Correct Answer-- Fixed asset
accounting
- Inventory Control
- Material/Property Control
Three key concepts of Property Management - Correct Answer--
Ownership
- Accountability
- Responsibility
, Page |2
Records - Correct Answer-- Crucial element of Property Control
Management
Begin during acqusition process, continues through every related
transaction to include protection, preservation, utilization, maintenance and
disposition - Correct Answer-Records
Cornerstone of effective Property Control - Correct Answer-
Communication, to include routine or special purpose reports, and Training
Benefits gained by efficient property management - Correct Answer--
Return of Investment (ROI)
-Reutilization of excess property
-Compliance of internal and external procedures
-Value of organization
What is Process? - Correct Answer-The series of steps taken to produce a
desired result
What is Procedure? - Correct Answer-Steps that must be followed to
produce results
, Page |3
Having legal/rightful title to property either by organization or sponsor under
certain terms - Correct Answer-Ownership
Means to possess and have use of company property with delegated duties
and responsibilties - Correct Answer-Accountability
Key elements of Property Accountabilty - Correct Answer-- Provider
- Recipient
- Specific duties and responsibilities
- Specific penalties in case of default
Transfer of accountability - Correct Answer-When accountability shifts from
one entity to another.... may or may not include physical relocation of
assets
Transfer approval must be coordinated when, how, and why? - Correct
Answer-When? In advance
How? in writing
Why? To be made of historical file and audit trail of assets
, Page |4
Transfer document must include three things? - Correct Answer-1. Effective
date of transfer
2. Purpose of transfer
3. Description of property to be transferred
Bottom line... transfers occur when property and accountability shift from
what? - Correct Answer-From the using organization to another
An organization with multiple sites with multiple subunits, change in
location is a ______________ and not an
_____________________________ - Correct Answer-Change in location
is a movement not an interdepartmental transfer
What is responsibility? - Correct Answer-to be answerable for a trust or
obligation
Property Professional Key distinction Standpoint - Correct Answer-One is
accountable to someone for the property while being responsible for certain
actions ie maintenance/storage related to the property or asset
Interdepartmental transfers of property occurs when? - Correct Answer-
When property and accountability shift from the using organization to
another
