NAPCP - CPCP CERTIFICATION EXAM STUDY
GUIDE ACTUAL QUESTIONS AND ANSWERS -
LATEST AND COMPLETE UPDATE WITH
VERIFIED SOLUTIONS – ASSURED PASS WITH
INSTANT DOWNLOAD PDF.
What is the main objective of the P-Card RFP process? - ANSWER: To select a
provider objectively
The primary goal of a P-card program is to? - ANSWER: Streamline the process
for acquiring low-cost goods
Reducing or eliminating cash funds through P-Card use results in? - ANSWER: A
greater capture of transaction data
What is a best practice concerning MCC restrictions? - ANSWER: Utilize some
standard profiles based on card usage
The primary customers of merchant acquirers are? - ANSWER: Suppliers of
goods and services
Who is a merchant acquirer? - ANSWER: A bank or other contracted party that
processes supplier card transactions.
,Enroll suppliers in the card acceptance process and implement equipment and
software solutions related to this purpose. They facilitate payment flow, including
payments to suppliers. They are the supplier's bank
What is another name for merchant? - ANSWER: Supplier
What is a merchant discount fee? - ANSWER: A fee paid by a supplier
(merchant) to a bank or other contracted party for services relate to the processing
of the merchant's card transactions
What are the two types of card payment systems? - ANSWER: Four-Party
Payment System and Three-Party Payment System
What is a four-party payment system? - ANSWER: merchant discount fee
includes interchange-a fee paid by a merchant acquirer to the issuing bank(card
issuer), plus additional clearing and settling fees. It compensates the issuer for the
time after settlement with the acquiring bank/merchant and before it recoups the
settlement value from the end-user. It is a source of revenue for the issuers. Ex.
Visa and Mastercard
What is a three-party payment system? - ANSWER: No interchange component
but the merchant still pays a merchant discount fee in conjunction with card
acceptance. Ex. traditional Am. Express Model
,What are the steps in the traditional procure-to-pay process? - ANSWER: 1.
Process a requisition
2. Process a Purchase Order
3. Process a Invoice
4. Process a Check for payment
What is the estimated process cost of the traditional process? - ANSWER: $50 to
$200
Are the process cost the same for both low value and high value transactions using
a traditional procure-to-pay process? - ANSWER: Yes
How do p-cards simplify the procure-to-pay process? - ANSWER: 1. Streamlines
the process
2. Procure goods and services in a timely manner
3. Reduce transaction costs
4. Track expenses
5. Take advantage of Supplier Discounts
6. Reduce or Redirect Purchasing Staff and/or AP Staff
7. Reduce or Eliminate Petty Cash
, How do p-cards benefit suppliers (merchants) - ANSWER: 1. Cost reductions by
eliminating invoice creation, handling and mailing, depositing payments, and
collection activities
2. Funds deposited electronically
3. Faster receipt of payments and improved cash flow
4. Increased sales
5. Customer satisfaction
6. Staff reductions and/or redirection in AR
What is an Interchange Fee? - ANSWER: Also called a swipe fee. Fee charged by
banks to the merchant who processes a credit card or debit card payment. The
purpose of the fee is to cover the costs associated with accepting, processing and
authorizing card transactions. Paid by suppliers (merchants) to the merchant
acquirer.
GUIDE ACTUAL QUESTIONS AND ANSWERS -
LATEST AND COMPLETE UPDATE WITH
VERIFIED SOLUTIONS – ASSURED PASS WITH
INSTANT DOWNLOAD PDF.
What is the main objective of the P-Card RFP process? - ANSWER: To select a
provider objectively
The primary goal of a P-card program is to? - ANSWER: Streamline the process
for acquiring low-cost goods
Reducing or eliminating cash funds through P-Card use results in? - ANSWER: A
greater capture of transaction data
What is a best practice concerning MCC restrictions? - ANSWER: Utilize some
standard profiles based on card usage
The primary customers of merchant acquirers are? - ANSWER: Suppliers of
goods and services
Who is a merchant acquirer? - ANSWER: A bank or other contracted party that
processes supplier card transactions.
,Enroll suppliers in the card acceptance process and implement equipment and
software solutions related to this purpose. They facilitate payment flow, including
payments to suppliers. They are the supplier's bank
What is another name for merchant? - ANSWER: Supplier
What is a merchant discount fee? - ANSWER: A fee paid by a supplier
(merchant) to a bank or other contracted party for services relate to the processing
of the merchant's card transactions
What are the two types of card payment systems? - ANSWER: Four-Party
Payment System and Three-Party Payment System
What is a four-party payment system? - ANSWER: merchant discount fee
includes interchange-a fee paid by a merchant acquirer to the issuing bank(card
issuer), plus additional clearing and settling fees. It compensates the issuer for the
time after settlement with the acquiring bank/merchant and before it recoups the
settlement value from the end-user. It is a source of revenue for the issuers. Ex.
Visa and Mastercard
What is a three-party payment system? - ANSWER: No interchange component
but the merchant still pays a merchant discount fee in conjunction with card
acceptance. Ex. traditional Am. Express Model
,What are the steps in the traditional procure-to-pay process? - ANSWER: 1.
Process a requisition
2. Process a Purchase Order
3. Process a Invoice
4. Process a Check for payment
What is the estimated process cost of the traditional process? - ANSWER: $50 to
$200
Are the process cost the same for both low value and high value transactions using
a traditional procure-to-pay process? - ANSWER: Yes
How do p-cards simplify the procure-to-pay process? - ANSWER: 1. Streamlines
the process
2. Procure goods and services in a timely manner
3. Reduce transaction costs
4. Track expenses
5. Take advantage of Supplier Discounts
6. Reduce or Redirect Purchasing Staff and/or AP Staff
7. Reduce or Eliminate Petty Cash
, How do p-cards benefit suppliers (merchants) - ANSWER: 1. Cost reductions by
eliminating invoice creation, handling and mailing, depositing payments, and
collection activities
2. Funds deposited electronically
3. Faster receipt of payments and improved cash flow
4. Increased sales
5. Customer satisfaction
6. Staff reductions and/or redirection in AR
What is an Interchange Fee? - ANSWER: Also called a swipe fee. Fee charged by
banks to the merchant who processes a credit card or debit card payment. The
purpose of the fee is to cover the costs associated with accepting, processing and
authorizing card transactions. Paid by suppliers (merchants) to the merchant
acquirer.
