CPPB Cheat Sheet 2026

The 30 highest-yield CPPB facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. The purpose of a stock record card (or item master) in inventory management is to: → Maintain a running record of receipts, issues, and balances for each stock item
2. Under the Federal Acquisition Regulation (FAR), when is certified cost or pricing data required? → When a contract is expected to exceed the threshold set by law and no exceptions apply
3. When a sole-source supplier consistently underperforms, what should the public buyer do FIRST? → Issue a cure notice and allow the supplier time to correct the deficiency
4. Which procurement action best manages the risk of ambiguous specifications? → Conducting a pre-bid conference and issuing written addenda to clarify requirements
5. A public buyer conducts quarterly business reviews (QBRs) with a strategic supplier. What is the primary purpose of these reviews? → To align performance data, address issues, and jointly plan improvements
6. A public agency wants to reduce supply chain risk for a critical commodity. Which SRM strategy is most appropriate? → Dual-source or multi-source the commodity across two or more qualified suppliers
7. An overly restrictive specification in a public solicitation is a significant risk because it is MOST likely to: → Reduce competition and potentially lead to higher prices.
8. The most significant outcome of a comprehensive market analysis performed during the pre-solicitation phase is its direct influence on the: → Development of the acquisition strategy and solicitation method.
9. Upon receipt of a Purchase Requisition for a small buy commodity, what is the first step the buyer should take? → Determine if the item is available in surplus stock
10. Which inventory control technique establishes a maximum and minimum level between which stock is maintained? → Min-Max System
11. What does the term 'price reasonableness' mean in public procurement? → The price is fair to both the buyer and seller based on current market conditions
12. Which tool is most commonly used to segment suppliers in public procurement SRM programs? → A Kraljic portfolio matrix
13. Which of the following is an example of a 'supply chain risk' in public procurement? → A geopolitical event disrupting the delivery of critical components
14. What does the term 'should-cost analysis' refer to in public procurement? → An analysis determining what a product should cost based on efficient performance
15. What is the first step in a formal procurement risk management process? → Identifying potential risks that could affect procurement outcomes
16. Just-in-Time (JIT) inventory management is primarily designed to: → Receive goods only as they are needed, minimizing on-hand inventory
17. Which document provides the government's independent estimate of contract costs before solicitation? → Independent Government Cost Estimate (IGCE)
18. What is 'inherent risk' in the context of public procurement? → The level of risk that exists before any risk controls are applied
19. Which of the following best describes 'learning curve theory' in cost analysis? → As production volume doubles, per-unit labor cost decreases by a predictable percentage
20. When using the Invitation for Bid (IFB) method of solicitation, the contract must be awarded to the lowest bidder who meets what two primary legal standards? → Responsive and responsible.
21. Which risk management technique involves planning an alternative course of action to be taken if a risk event occurs? → Contingency planning
22. Strategic procurement planning (SP2) involves: → Transforming mission, goals, and objectives into measurable activities
23. Which of the following is an essential element required to form a legally binding contract in a public procurement context? → Offer, acceptance, and consideration.
24. Which metric best measures a supplier's on-time delivery performance? → On-Time In-Full (OTIF) rate
25. Which of the following is an example of a carrying (holding) cost in inventory management? → Warehouse space and insurance for stored goods
26. A public buyer is procuring IT services from a vendor with limited financial reserves. Which risk mitigation measure is most appropriate? → Requiring a performance bond or financial guarantee from the vendor
27. Which procurement document is typically used to formally document the agency's risk tolerance and accepted residual risks before proceeding with contract award? → The acquisition plan or procurement plan
28. On the team, Susan writes down key points on a flip chart pad. What team role is Susan playing? → Recorder
29. What is a vendor scorecard primarily used for in public procurement? → Objectively tracking and communicating supplier performance over time
30. Which of the following best describes a 'perpetual inventory system'? → Inventory records are updated continuously with each transaction