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NCMA CPCM (Certified Professional Contracts Manager) certification exam is designed for professionals who specialize in the procurement, acquisition, and management of contracts. Certified Professional Contracts Manager certification demonstrates an individual’s expertise in the contracts field and their commitment to professional development. Through passing the exam, individuals can earn the CPCM designation and enhance their credentials as a contracts manager.

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The NCMA CPCM exam is designed to test the candidate's understanding of various aspects of contract management, including acquisition planning, contract negotiation, contract administration, and contract closeout. CPCM exam is divided into two parts, each containing 110 multiple-choice questions. The first part covers general contract management topics, while the second part is more specific and covers topics such as procurement regulations and contract pricing.

The CPCM Certification is open to professionals who have at least five years of experience in contract management. Candidates must also have at least a bachelor's degree or equivalent experience. CPCM exam is designed to test candidates on their knowledge of contract management principles, including contract formation and administration, procurement and acquisition, and contract performance management.

NCMA Certified Professional Contracts Manager Sample Questions (Q22-Q27):

NEW QUESTION # 22
____________ is a model law developed to standardize commercial contracting law among the states.

Answer: B


NEW QUESTION # 23
A market characterized as having many independent buyers, few independent sellers, and restrictions to market entry/exit is called a/an __________.

Answer: B

Explanation:
The correct answer is C (oligopoly) because, within economic principles referenced in the NCMA Contract Management Body of Knowledge (CMBOK), an oligopoly is a market structure characterized by a small number of sellers (suppliers) and a relatively large number of buyers. These few sellers dominate the market and often have significant influence over pricing, production levels, and market conditions.
The presence of barriers to entry and exit -such as high capital requirements, regulatory constraints, or technological complexity-is another defining feature of an oligopoly. These barriers prevent new competitors from easily entering the market, allowing existing firms to maintain their market position.
Because only a few sellers exist, their decisions are interdependent, meaning each firm must consider the actions of competitors when making pricing or production decisions.
Option A ( monopsony ) refers to a market with one dominant buyer and many sellers. Option D ( oligopsony ) involves few buyers and many sellers. Option B ( bilateral monopoly ) involves one buyer and one seller.
In contract management, understanding oligopolistic markets is important for market research, pricing analysis, and negotiation strategy . Limited supplier competition can affect pricing leverage and risk, requiring contract managers to carefully assess supplier power and develop strategies to ensure fair and reasonable pricing.


NEW QUESTION # 24
The process of ensuring compliance with contractual terms and conditions during contract performance and up to contract closeout or termination is known as:

Answer: B


NEW QUESTION # 25
In a source selection method if proposals are the input using contract negotiation as a tool in order to produce which output?

Answer: C


NEW QUESTION # 26
The first step in the financial management process is to __________.

Answer: B

Explanation:
The correct answer is C (develop an estimate of how much funding the contract will require over time) because, according to the NCMA Contract Management Body of Knowledge (CMBOK), the financial management process begins with cost estimation and budgeting . Before any financial tracking, funding allocation, or expenditure control can occur, contract managers must first determine the expected financial requirements of the contract.
This initial step involves forecasting costs across the contract lifecycle, including labor, materials, overhead, and other associated expenses. It provides the baseline for all subsequent financial activities, such as budgeting, funding authorization, and cost control. Without a well-developed estimate, organizations cannot effectively plan resources or ensure sufficient funding is available.
Option A ( calculate the contract value over time ) is part of financial planning but typically follows the development of a cost estimate. Option B ( request additional funds ) is a reactive step that occurs only after initial estimates and budgets prove insufficient. Option D ( track expenditures ) is part of cost control and monitoring, which occurs later in the financial management process.
CMBOK emphasizes that accurate cost estimation is critical for financial discipline, risk management, and successful contract execution. It enables informed decision-making and ensures that contracts are financially viable from the outset.


NEW QUESTION # 27
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