Certified Professional Public Buyer (CPPB) Practice Test

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Certified Professional Public Buyer Test with our engaging materials. Access multiple choice questions with hints and detailed explanations. Start your journey to certification success today!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which of the following best describes known loss?

Delivery of the shipment is intact to the consignee
Carrier fails to deliver shipment due to destruction
Delivery is delayed but eventually arrives
A shipment that has been successfully delivered

The correct answer is: Carrier fails to deliver shipment due to destruction

Known loss refers to situations where a shipment is confirmed to have been destroyed or significantly damaged during transit, resulting in a total or partial loss of the goods. In this context, when the carrier fails to deliver the shipment due to destruction, it indicates that the loss is recognized and acknowledged as part of the transportation process. This aligns with the definition of known loss, as it highlights that the loss is not in question—the goods are definitively unavailable due to the circumstances faced during transportation. The other options describe scenarios where the shipment is either delivered intact, delayed but still arrives, or successfully delivered. These situations do not involve the acknowledgment of a loss, as the goods are either intact, simply delayed, or completely received without issues. Thus, they do not fit the definition of known loss, which specifically deals with a shipment that is confirmed to be lost or destroyed.