CCCM Integrated Study Guide & 140 Review Questions 2009 Edition

Covering the General Business Knowledge module & the Commercial Knowledge module.

According to the NCMA, A Certified Commercial Contracts Manager (CCCM) certification demonstrates that one is knowledgeable about the practice of contracts management in the commercial environment.

In order to earn the CCCM, a candidate must fulfill the eligibility requirement (candidate must have as a minimum a bachelor degree with 24 hours of course work in business management topics, two years of experience, plus 120 hours of continuing professional education) and must pass two examinations, which are the General Business Knowledge module and the Commercial Knowledge module. Topics that we deal with include:

General Business Knowledge:
Management, Marketing, Operations Management, Finance, Accounting, Economics, Quantitative Methods, and Ethics.

Commercial Knowledge:
Contract Principles, Acquisition Planning, and Contract Administration

The CCCM exams are all MC based, and you will need to get approx. 68% correct answers in order to pass. The exams have quite many questions that ask for your "best decisions" (i.e. how you will tackle a situation in a live environment). They are not tricky questions, but just that they are not as straight forward as the standard text book type questions.

Our CCCM Study Guide goes the expert-advice way. Instead of just giving you the hard facts, we also give you information that covers the best practices. With these information, you will always be able to make the most appropriate expert judgment in the exams.

The CCCM study guide covers topics from both exam modules. However, instead of following a rigid topic flow, we give you the freedom to review topics in any order you like. We do encourage you to go through ALL topics of both modules prior to attempting any one of the exam modules, since it is not uncommon to find overlapped topics in the exam questions. And for the best possible exam performance, you may want to use our study guide together with other study resources. Do your readings, and give yourself enough time to digest what you have read. Link the theories and concepts to your real world contract management experience, then you will do fine for sure :)

Note that our section on Commercial contract has a strong focus on the law and legal aspects of business contract. Relevant contract law topics at a glance:
MANAGING BUSINESS CONTRACT DEFINING CONTRACT MANAGER & CONTRACT ADMINISTRATOR CONTRACT ADMINISTRATION OVERVIEW CONTRACT CLOSURE CONTRACT COMPENSATIONS & FINANCING QUOTATIONS AND TENDERS RFP LOI DRAFTING YOUR CONTRACT SETTING THE ORDER OF PRECEDENCE CONTRACT EXHIBITS TIME CLAUSE REWARDS INCORRECT PAYMENTS LEGAL AUTHORITY INSPECTION AND ACCEPTANCE CHANGE ORDER PROCEDURES EXPLICITLY SPELLED OUT REMEDIES TERMINATION FOR DEFAULT/CAUSE	OTHER CLAUSES ETHICS CONTRACT NEGOTIATION STYLES OF NEGOTIATION PRE-NEGOTIATION PREPARATION PRE-NEGOTIATION EXCHANGES BUSINESS CONTRACT LEGAL ELEMENTS SOURCE OF LAW THE STATUTE OF FRAUD CONTRACT TYPES OFFER, ACCEPTANCE, AND INVITATION TO TREAT CONSIDERATION DISCHARGING OR INVALIDATING A CONTRACT BREACH OF CONTRACT POSSIBLE DEFENSES DAMAGE RECOVERY SATISFACTION CLAUSE AGENCY RELATIONSHIP
Acquisition Planning Contents:
MANAGING PROCUREMENT PRINCIPLES AND STANDARDS OF PURCHASING PRACTICE ANTI-TRUST ORDERING PROCEDURE PARTNERING NEW TREND IN PURCHASING NEW TREND IN SUPPLIER RELATIONSHIP MANAGEMENT JIT AND PURCHASING WASTES IN THE PURCHASING PROCESS BENEFITS OF JIT PURCHASING ACQUISITION PLANNING
140 Review Questions on Contract Principles, Acquisition Planning, Contract Administration, and Procurement.
General Business Knowledge contents:
BUSINESS ECONOMICS & GLOBAL BUSINESS ECONOMICS DEFINED MICRO VS MACROECONOMICS OPPORTUNITY COST SPECIALIZATION, COMPARATIVE ADVANTAGE AND ABSOLUTE ADVANTAGE PRODUCTION POSSIBILITY FRONTIER MARKET DEFINED DEMAND VS QUANTITY DEMANDED SUPPLY VS QUANTITY SUPPLIED EQUILIBRIUM VS DISEQUILIBRIUM MOVEMENT ALONG THE CURVES VS SHIFTING OF THE CURVES VS ELASTICITY DIFFERENT TYPES OF MARKET STRUCTURE MONOPOLY PERFECT COMPETITION OLIGOPOLY AND MONOPOLISTIC COMPETITION MARKET POWER VS PRICE TAKING ECONOMIES OF SCALE LAW OF DIMINISHING MARGINAL UTILITY MONETARY POLICY VS FISCAL POLICY ECONOMIC GROWTH, INFLATION AND CPI BALANCE OF PAYMENTS AND BALANCE OF TRADE MONEY SUPPLIES, EXCHANGE RATE AND CURRENCY VALUATION M1, M2 AND M3 FOREIGN EXCHANGE ECONOMIC INDICATORS ACCOUNTING PRINCIPLES AND STANDARDS IAS GAAP, FASB AND SFAS REPORTING CONTINGENCIES REPORTING EARNINGS OFF-BALANCE-SHEET ENTITIES PURCHASE ACCOUNTING VS POOLING OF INTEREST OPERATING CASH FLOW VS NET INCOME VS EBITDA CASH FLOW STATEMENT CASH FLOW ACTIVITIES CASH FLOW FROM OPERATING ACTIVITIES DEPRECIATION ACRS VS MACRS FAIR VALUE VS HISTORICAL COST INVENTORY VALUATION CAPITALIZATION OF INTEREST COSTS CAPITALIZATION OF LEASES FOOTNOTES S-CORP STATUS MANAGING AN ORGANIZATION OB MODELS AND THEORIES ORGANIZATIONAL DEVELOPMENT CHANGE MANAGEMENT CHANGE STRATEGIES US BUSINESS ENVIRONMENT AND REGULATORY REQUIREMENTS ACTS AND REGULATIONS UCC NCMA CODE OF ETHICS MANAGING THE BUDGET BUDGET DEVELOPMENT STRATEGY COVERAGE BUDGET VARIANCES STANDARD COSTING SLACK COST MANAGEMENT STANDARD COSTING ACTIVITY-BASED COSTING LCC THROUGHPUT ACCOUNTING PERFORMANCE MEASUREMENT AND ROI PERFORMANCE MEASUREMENT AND BENCHMARKING COMMUNICATION & INFORMATION MANAGEMENT THE ROLE AND APPROACHES OF INFORMATION MANAGEMENT INTEGRATING INFORMATION AND BUSINESS STRATEGIES COMMUNICATION MANAGEMENT VERTICAL COMMUNICATION HORIZONTAL COMMUNICATION DIAGONAL COMMUNICATION CIRCULAR COMMUNICATION COMMUNICATION BARRIERS FORMAL NETWORK VS GRAPEVINE MANAGING RISK RISK MANAGEMENT DEFINED THE RISK MANAGEMENT STEPS MANAGING INFORMATION TECHNOLOGY MANAGING THE SUPPLY CHAIN SUPPLY CHAIN SCM SWOT ANALYSIS ENVIRONMENTAL SCANNING MBO, MBE AND VA SCOR SUPPLY CHAIN DESIGN SUPPLY CHAIN REENGINEERING SUPPLY CHAIN COLLABORATION SUPPLY CHAIN QUALITY PRODUCT CATEGORIES IN A PRODUCTION ENVIRONMENT HIGH VOLUME/LOW MARGIN LOW VOLUME/HIGH MARGIN DESIGNER PRODUCTS NPD SUPPLY CHAIN METRICS SUPPLY CHAIN CHALLENGES THE “TECHNICAL TERMS”	BOM SKU EOQ REORDER POINT MAKE VS BUY LEASE VS BUY LEASING ARRANGEMENTS INTERNATIONAL SOURCING JUST-IN-TIME (JIT) WASTE ELIMINATION AND QUALITY IMPROVEMENT MANAGING THE CUSTOMERS MARKETING MIX SERVICE CHAIN MANAGEMENT THE SALES PROCESS SALES FORCE AUTOMATION MANAGING SALES & OPERATIONS S&OP STAGES AND COMPONENTS EFFECTIVE S&OP MANAGING RESOURCES STRATEGICALLY MANAGING QUALITY AN OVERVIEW OF THE TERM “QUALITY” QUALITY ASSURANCE, CONTROL AND MANAGEMENT TQM GOOD PRACTICE SYSTEMS CHECK SHEETS QFD FISHBONE DIAGRAM KAIZEN TOYOTA PRODUCTION SYSTEM DEPARTMENTAL PURPOSE ANALYSIS POKA-YOKE QUALITY CIRCLE PDCA ADRI SIX SIGMA CONTINUOUS IMPROVEMENT PROJECTS STATISTICAL PROCESS CONTROL CONTROL CHARTS CONTROL CHART, RUN CHART, PARETO CHART, SCATTER DIAGRAM, AND CAUSE & EFFECT DIAGRAM ZERO DEFECTS FAILURE TESTING SCORECARDING AUDIT METRICS QUALITY STANDARDS PQT AND QIT KAIZEN TEAM BUSINESS PROCESS REENGINEERING MANAGING PEOPLE (LEADERSHIP) LEADERSHIP STYLES GOVERNANCE AGENCY THEORY BUSINESS ETHICS SOCIAL RESPONSIBILITY SR TERMS SR AS AN OBLIGATION SR AS A LIABILITY SR AS A STRATEGIC MOVE SR ON A GLOBAL SCALE SR APPROACHES MANAGING KNOWLEDGE DISTINGUISHING BETWEEN DIFFERENT KINDS OF KNOWLEDGE KM, TEAMWORK AND TECHNOLOGIES PROMOTING KM DEMAND PLANNING & MANAGEMENT NATURE OF DEMANDS DEMAND MANAGEMENT VS DEMAND PLANNING HOW DO YOU ACTUALLY MANAGE THE DEMAND? DEMAND FORECASTING STATISTICAL TOOLS FOR FORECASTING MOVING AVERAGE ABC CLASSIFICATION MORE ON QUANTITATIVE TECHNIQUES THE CENTER THE DISTRIBUTION NORMAL DISTRIBUTION CORRELATION ANALYSIS AND CONTINGENCY ANALYSIS STATISTICAL INFERENCE OTHER ANALYSIS METHODS BULLWHIP EFFECT MEASURING BUSINESS PERFORMANCE FINANCIAL MEASURES METRICS FOR OPERATION AND INVENTORY MANAGEMENT OTHER METRICS BENCHMARKING MANAGING LOGISTICS TRANSPORTATION BASIC MODES OF TRANSPORTATION DRP PACKAGING REVERSE LOGISTICS YARD & DOCK MANAGEMENT MANAGING THE WORKPLACE AND THE WORKFORCE STAFFING STRATEGIC WORKFORCE PLANNING INTERNAL CONTROLS BASIC CONTROL PRINCIPLES CASH HANDLING DISBURSEMENTS, PAYMENT AND ACQUISITION DIVERSITY MANAGEMENT ISSUE MANAGEMENT PREMISES MANAGEMENT PERFORMANCE EVALUATION LAST MINUTE TIP

This product has approx. 530 pages in total. Contents have been updated on 22 Nov, 2008.

CCCM Exam Tips

The actual exam questions were written to be tricky. However, if you are careful enough, the process of isolation would work pretty well in eliminating the wrong choices.

Take a look at the commercial knowledge question below:

An offer, in order to give rise to a valid contract, must

be timely accepted by the intended offeree
be stated orally
be specifically permitted by statute or regulation
be limited as to form of acceptance

As you can see:

be stated orally <-- this is obviously wrong
be specifically permitted by statute or regulation <-- "be specifically permitted" does not mean "be legal". A statute cannot "specifically" permit an offer.
be limited as to form of acceptance <-- the offerer may choose to limit the form of acceptance, but the question does not say so.

Here comes another one:

In contract disputes, a claimant is:

a person who has a demand made against them
a person who asserts a right or demand
a person who countersues
a third party who makes a demand against the seller

It is quite obvious that the third and the fourth choices are surely wrong. The first choice says "who has a demand made against them". The "them" here refers to the disputes. A claimant does not have a demand against the disputes. He does have one against the other party to the contract.

If you understand the logic behind the CCCM questions & choices, you will easily get the wrong answers removed!

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