GSA GSA Specialist Property & Asset Management 1

Question 1

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

Accepted Answer

FAR Part 45

Answer

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?

Accepted Answer

Federal Property and Administrative Services Act of 1949

Answer

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?

Accepted Answer

To maintain a comprehensive inventory of all federal real property assets

Answer

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?

Accepted Answer

Screen the property within the federal government for potential reutilization

Answer

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?

Accepted Answer

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

Answer

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.

(GSA) Certified General Services Administration Specialist Practice Test

(GSA) Certified General Services Administration Specialist Practice Test

GSA GSA Specialist Property & Asset Management 1