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NAPCP - CPCP CERTIFICATION EXAM | 285 QUESTIONS | WITH PASSED SOLUTIONS!!
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NAPCP - CPCP CERTIFICATION EXAM | 285 QUESTIONS | WITH PASSED SOLUTIONS!!
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NAPCP - CPCPCERTIFICATION EXAM |
285 QUESTIONS |
WITH PASSED
SOLUTIONS!!
NAPCP-CPCP
Evatee 9/23/24 NAPCP-CPCP
,NAPCP - CPCP CERTIFICATION EXAM | 285
QUESTIONS | WITH PASSED SOLUTIONS!!
End-users are Answer - the companies, government agencies,
universities/colleges, etc that provide P-Cards to their employees.
P-Card program managers(PM), program administrator(PA), and/or site
coordinator (SC) are Answer - the primary roles that manage a P-Card program
within an end-users organization.
Cardholders are Answer - those who initiate P-Card transactions on behalf of
their employer, the end-user organization.
Suppliers are Answer - those who accept P-Cards as payment for goods and
services.
Issuers are Answer - those who work directly with end-users to implement and
grow programs, issue cards, and invoice posted P-Card transactions.
True or False:
The issuer uses the services of the networks and processors to faciliate card
issuance, authorize transactions, and provide date. Many financial institutions
are not issuers. Issuers are sometimes called card "providers" Answer - False:
Many financial institutions are issuers. USBANK and JP Morgan Chase are
examples.
,Merchant acquirers are Answer - those who enroll suppliers in the card
acceptance process and implement equipment and software solutions related
to this purpose. They facilitate payment flow including payment to suppliers.
What is also known as a supplier's bank? Answer - Merchant acquirers
What is also known as card providers? Answer - Issuers
What is a purchasing card? Answer - It is a type of commercial credit card used
by organizations for the payment of goods and services.
Why were P-Cards created? Answer - A financial re-engineering tool to
streamline accounts payable processes, typically replacing paper checks as the
payment method for low-value transactions.
Which is not a benefit of using the P-Card?
a. procure in a timely manner
b. take advantage of supplier discounts
c. convenience fee
d. reduce transaction costs
e. track expenses Answer - c. convenience fee
Networks are Answer - used to facilitate the movement of transactional data
between the issuer and the merchant acquirer and set the rules pertaining to
suppliers' card acceptance.
What organizations would be considered a network? Answer - Visa,
MasterCard, and American Express
, What are also known as associations? Answer - Networks
Processors are Answer - those who provide various services to card issuers and
merchants acquirers, which may include card production, statement printing,
authorization and data delivery.
What is Procure-to-Pay Process?
a. Pay for what you buy online or in-person; obtain a receipt
b. Suppliers fulfill cardholder orders, charge a card when shipped, receive
packing list with product; no invoice received
c. Suppliers fulfill cardholder order, charge card, ships product; invoice received
d. Suppliers send invoice, charge card, fulfill order, ship product; packing list
received Answer - b. Suppliers fulfill cardholder orders, charge a card when
shipped, receive packing list with product; no invoice received
Benefit for using the Procure-to-Pay process:
a. supplier receive payment within 2-3 days versus 30+ days
b. receive a payment voucher guaranteeing payment
c. cardholders have their product before they have to pay
d. The process eliminates all paperwork Answer - a. supplier receive payment
within 2-3 days versus 30+ days
Who provides an invoice (central bill) to the end-user organization reflecting
the total of each P0Card account plus a grand total of what is owed for the
cycle?
a. Suppliers
b. Processors
c. Networks
d. Merchant acquirers
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