GSA GSA Specialist Property & Asset Management 1 — Questions and Answers
Question 1: Which federal regulation governs the management of personal property acquired with federal funds?
- FAR Part 45 (Correct answer)
- OMB Circular A-11
- Title 40 U.S.C.
- GSA Bulletin FMR B-34
Correct answer: FAR Part 45
FAR Part 45 governs government property in the possession of contractors, including acquisition, management, and disposition of personal property.
Question 2: What is the primary federal statute that grants GSA authority over the management of federal real property?
- Federal Property and Administrative Services Act of 1949 (Correct answer)
- Competition in Contracting Act of 1984
- Federal Acquisition Streamlining Act of 1994
- Government Performance and Results Act of 1993
Correct answer: Federal Property and Administrative Services Act of 1949
The Federal Property and Administrative Services Act of 1949 established GSA and granted it authority to manage and dispose of federal real and personal property.
Question 3: What is the purpose of the Federal Real Property Profile (FRPP) database?
- To track contractor-owned equipment used on federal projects
- To maintain a comprehensive inventory of all federal real property assets (Correct answer)
- To manage federal vehicle fleet assignments
- To record all federal lease agreements with private landlords
Correct answer: To maintain a comprehensive inventory of all federal real property assets
The FRPP is a government-wide database that agencies use to report and track all federally owned and leased real property, supporting data-driven asset management decisions.
Question 4: Under the Federal Management Regulation (FMR), what is the first step agencies must take before disposing of excess personal property?
- Sell the property through a public auction
- Screen the property within the federal government for potential reutilization (Correct answer)
- Donate the property to a nonprofit organization
- Transfer the property to the General Services Administration
Correct answer: Screen the property within the federal government for potential reutilization
Before disposing of excess property, agencies must first screen it within the federal government to give other agencies the opportunity to reutilize the property, maximizing taxpayer value.
Question 5: What is a 'Declaration of Excess' in federal property management?
- A notification that a contractor has exceeded its property allowance
- A formal agency notification to GSA that property is no longer needed and available for transfer or disposal (Correct answer)
- An audit finding that an agency has more property than its mission requires
- A budget document requesting additional property funding
Correct answer: A formal agency notification to GSA that property is no longer needed and available for transfer or disposal
A Declaration of Excess is the formal process by which a federal agency notifies GSA that it has property it no longer needs, initiating the disposal or transfer process.
Question 6: Which GSA program allows state and local governments to acquire surplus federal personal property?
- Federal Supply Schedule Program
- State Agency for Surplus Property (SASP) Program (Correct answer)
- Cooperative Purchasing Program
- Disaster Purchasing Program
Correct answer: State Agency for Surplus Property (SASP) Program
The SASP Program allows GSA to transfer surplus federal personal property to state agencies for surplus property, which then distribute it to eligible recipients including state and local governments.
GSA GSA Specialist Property & Asset Management 1
Which federal regulation governs the management of personal property acquired with federal funds?