GPC Approving Official Test
Study online at https://quizlet.com/_8cxws3
1. GPC refresher training must be taken: (A) Once a year NO
(B) Twice a year
(*C*) Every two years
(D) Every three years
2. 7: Per span of control policy, the maximum number of Cardholder accounts an AO
may oversee is
3. Credit balance: occurs when the amount credited to an AO account exceeds the
amount billed by the bank
4. Which of the following transactions may not be disputed through the bank?-
: (A) Returned or canceled merchandise with no credit received
(B) Invoice amount discrepancies
(C) Duplicate billings and non-receipt of merchandise
(*D*) Convenience Check transactions
5. (T/F) A/OPC to AO and Cardholder accounts are not to exceed 1:300: TRUE
6. Approving Official authority is documented in a ___________: (A) Certificate
of Appointment
(B) Appointment/Termination Record (DD Form 577)
(*C*) Letter of Appoitment
(D) Letter of Delegation (NO)
7. It is a federal requirement that you must maintain complete and accurate
documentation of all purchases. types of documentation that should be main-
tained are:: (A) Approved requirement documentation
(B) Sales receipt and merchant invoice
(C) Signed proof of delivery/acceptance
(*D*) All of the above
8. Only the __________ is authorized to make purchases using the Purchase
Card.: Cardholder
9. (T/F) Suspected unethical behavior should be reported to the A/OPC or
through the supervisory chain of command.: True
10. __________ are used by the bank system to restrict Cardholders from
buying certain products or services.: Merchant Category Codes
11. (T/F) It is important to maintain a Purchase Log to provide accurate and
detailed records of all Cardholder purchases.: True
12. The current Micro-Purchase Threshold is:: (A) $10,000
(B) $25,000 NOT
(C) $5,000 NOT
(D) $3,500
13. The AO account becomes delinquent _____ days from the statement date
if the bank has not received payment.: (*A*) 30
1/2
Study online at https://quizlet.com/_8cxws3
1. GPC refresher training must be taken: (A) Once a year NO
(B) Twice a year
(*C*) Every two years
(D) Every three years
2. 7: Per span of control policy, the maximum number of Cardholder accounts an AO
may oversee is
3. Credit balance: occurs when the amount credited to an AO account exceeds the
amount billed by the bank
4. Which of the following transactions may not be disputed through the bank?-
: (A) Returned or canceled merchandise with no credit received
(B) Invoice amount discrepancies
(C) Duplicate billings and non-receipt of merchandise
(*D*) Convenience Check transactions
5. (T/F) A/OPC to AO and Cardholder accounts are not to exceed 1:300: TRUE
6. Approving Official authority is documented in a ___________: (A) Certificate
of Appointment
(B) Appointment/Termination Record (DD Form 577)
(*C*) Letter of Appoitment
(D) Letter of Delegation (NO)
7. It is a federal requirement that you must maintain complete and accurate
documentation of all purchases. types of documentation that should be main-
tained are:: (A) Approved requirement documentation
(B) Sales receipt and merchant invoice
(C) Signed proof of delivery/acceptance
(*D*) All of the above
8. Only the __________ is authorized to make purchases using the Purchase
Card.: Cardholder
9. (T/F) Suspected unethical behavior should be reported to the A/OPC or
through the supervisory chain of command.: True
10. __________ are used by the bank system to restrict Cardholders from
buying certain products or services.: Merchant Category Codes
11. (T/F) It is important to maintain a Purchase Log to provide accurate and
detailed records of all Cardholder purchases.: True
12. The current Micro-Purchase Threshold is:: (A) $10,000
(B) $25,000 NOT
(C) $5,000 NOT
(D) $3,500
13. The AO account becomes delinquent _____ days from the statement date
if the bank has not received payment.: (*A*) 30
1/2
