NPMA Property Management CPPS
Exam Already Passed
Property Management ✔✔The exercise of a restraining or governing influence over the
acquisition , use , and disposition of personal property
Property control function
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NPMA Property Management CPPS
Exam Already Passed
Property Management ✔✔The exercise of a restraining or governing influence over the
acquisition , use , and disposition of personal property
Property control function names ✔✔Property control, Asset Management, fixed-asset
accounting, inventory control, material
PMO ✔✔Property Management Office
PMO responsibilities ✔✔establishing, guiding, managing, and maintaining an efficient property
system, communicating effectively with other departments and functions, and developing and
presenting training in subjects relating to property.
PMO responsibilities ✔✔The establishment and maintenance of a property control system
Property Control System ✔✔comprised of
Primary difference between accountability and responsibility ✔✔A
Who is accountable for the property ✔✔To whom are you accountable for the property
Transfer of Accountability ✔✔
Transfers ✔✔not always physical, require approval, approval record is part of historical file and
audit trail
Transfer between contracts ✔✔both releasing and gaining agency verify accuracy
Responsibility ✔✔Means to be answerable for a trust or obligation
-If you have a car, loaned it to someone, they dont own, but are answerable to you. (Gas,
accident, etc). So it is a trust, and they are answerable.
It is possible to be responsible for the property
What does responsibility mean ✔✔to be answerable for a trust or obligation.
Effective Property Control System ✔✔Provides a mechansim through whic an org can define
and plan for its property needs and be able to acquire, manage, and dispose of property to meet
them in a cost effective and efficient manner
PMO primary responsibilities ✔✔ensures assets are controlled, maintained, protected, preserved
The control is subdivided into 15 areas of property management for all property ✔✔
Physical Inventory ✔✔The determination of inventory quantity by actual count. Can be taken on
continuous, periodic, or annual basis.
Frequency of Inventory ✔✔Periodic, Continuous, based on type of equipment,
Utilization ✔✔The making use of, the documented use of an asset in the business process, the
act or
Primary objective of an effective utilization management program ✔✔1) maximize the use of an
asset throughout its useful life and 2) to make it available for reutilization in a timely manner
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