Government Purchase Card (GPC) Exam With Complete Solutions 2024

A/OPC - correct answer-Agency Organization Program Coordinator RA - correct answer-Resource Advisor AO - correct answer-Approving Official AAO - correct answer-Alternate Approving Official CH - correct answer-Card Holder What is GPC? - correct answer-Commercial Master Card Credit Card used by the Government to buy supplies and services for mission support GPC purchases can be: - correct answer-Supplies and Commodities up to $10,000 Competition not required Mandatory source use still required Services up to $2,500 Construction up to $2,000 Supplies/Commodities from $10,000 to $25,000 (additional rules apply) Why GPC? - correct answer-Allows "just-in time ordering" Reduces or eliminates procurement lead time Saves money Worldwide merchant acceptance Reduces Prompt Payment interest Vendors receive payment faster AF receives quarterly rebates Reduces workload as a whole Anti-Deficiency Act - correct answer-No government employee may create or authorize an obligation in excess of funds available or in advance of appropriations. Bona-fide need - correct answer-Only purchase the quantity you need during the time frame it will be used. Stock piling supplies is prohibited. Splitting of purchase - correct answer-Intentionally separating requirements between days or vendors in order to avoid exceeding thresholds. GPC Hierarchy - correct answer-Agency Organization Program Coordinator (A/OPC)