GSA GSA Specialist Property & Asset Management

Question 1

Which federal regulation governs the management of personal property acquired with federal funds?

Accepted Answer

FAR Part 45

Answer

OMB Circular A-11

Answer

Title 40 U.S.C.

Answer

GSA Bulletin FMR B-34

Question 2

What is the primary federal statute that grants GSA authority over the management of federal real property?

Accepted Answer

Federal Property and Administrative Services Act of 1949

Answer

Competition in Contracting Act of 1984

Answer

Federal Acquisition Streamlining Act of 1994

Answer

Government Performance and Results Act of 1993

Question 3

What is the purpose of the Federal Real Property Profile (FRPP) database?

Accepted Answer

To maintain a comprehensive inventory of all federal real property assets

Answer

To track contractor-owned equipment used on federal projects

Answer

To manage federal vehicle fleet assignments

Answer

To record all federal lease agreements with private landlords

Question 4

Under the Federal Management Regulation (FMR), what is the first step agencies must take before disposing of excess personal property?

Accepted Answer

Screen the property within the federal government for potential reutilization

Answer

Sell the property through a public auction

Answer

Donate the property to a nonprofit organization

Answer

Transfer the property to the General Services Administration

Question 5

What is a 'Declaration of Excess' in federal property management?

Accepted Answer

A formal agency notification to GSA that property is no longer needed and available for transfer or disposal

Answer

A notification that a contractor has exceeded its property allowance

Answer

An audit finding that an agency has more property than its mission requires

Answer

A budget document requesting additional property funding

Question 6

Which GSA program allows state and local governments to acquire surplus federal personal property?

Accepted Answer

State Agency for Surplus Property (SASP) Program

Answer

Federal Supply Schedule Program

Answer

Cooperative Purchasing Program

Answer

Disaster Purchasing Program