CLG 0010 EXAM QUESTIONS AND ANSWERS VERIFIED 100% CORRECT

CLG 0010 EXAM QUESTIONS AND ANSWERS VERIFIED 100% CORRECT The secretary of defense authorizes and increases in the micro-purchase threshold to 20,000 to support declared contingency operations in Afghanistan. Several Personnel in your office have been needing new laptops, so this is a good time to take advantage of the increase and purchase 20 laptops at $500 each, for a total price of $10,000 - ANSWER- False DoD policy allows for governmentwide commercial purchase card billing statement certification prior to verification that all items submitted for payment have been received in order to - ANSWER- Avoid Prompt payment interests Decrease penalties for faulty disputes avoid pecuniary liability 10 United States Code 2784 requires specific corrective actions for Governmentwide Commercial Purchase Card Program violations - ANSWER- True Which three of the following constitute cardholder fraud - ANSWER- A cardholder's unauthorized purchase of power tools for personal use purchasing items or extra quantity of items for resale or to give away to relatives Paying for repairs of privately owned equipment in step 12 of the governmentwide commercial purchase card program process, what are three Situations in which the acceptor must ensure written independent receipt and acceptance - ANSWER- Purchase of accountable property Transactions where the governmentwide commercial purchase card is used as a method of payment Self Generated Cardholder Purchases-Correct In order to use the governmentwide Commercial Purchase card for simplified acquisitions up to $25,000 outside the united states and its jurisdictions, the cardholder, merchant, and supply delivery/service execution must all be outside the united states and its jurisdictions - ANSWER- true What are three advantages of using the governmentwide commercial purchase card? - ANSWER- Gives DoD access to information about what its components buy Reduces dod invoicing costs Enables the government to earn refunds Which two statements about managing accounts are true - ANSWER- Require a Primary Approving/billing Official Are used to roll up cardholder accounts-New Whos responsibility is it to comply with Government agency standards of conduct - ANSWER- Agency/Organization Program Coordinator Approving/billing Officer Merchant What is the first step to follow when a cardholder becomes aware of a lost or stolen card or check - ANSWER- Determine when and where the card/checks were last seen////// What are three examples of misuse of the governmentwide commercial Purchase card? - ANSWER- Purchasing office supplies for home use Failing to certify "Purchase Card Certification Statements" on time Violating a specific-Use Policy What is the procurement integrated enterprise environment (PIEE) module used to initiate, review, approve, store, and terminate required delegations of procurement Failure to certify a Managing Account Billing Statement is a timely manner results in what three things? - ANSWER- Interest penalties Automatic suspension of accounts Disruption to Government Purchases authority and/or appointment? - ANSWER- Procurement Business intelligence service (PBIS) ///// When Using a Governmentwide Purchase Card, Which of the following is prohibited purchase - ANSWER- Construction services over $2,000 Which three of the following describe the Governmentwide Commercial Purchase Card? - ANSWER- Reduced Invoicing Costs Used to make mission-Essential Purchases Similar in nature to a commercial credit card What is the Cardholder Statement of Account? - ANSWER- A document reflecting all purchases and credits that have been posted to the CH's account during a 30-day billing cycle. Prior to certifying the Managing account billing statement for contract payment by Governmentwide commercial Purchase card, The approving/billing official must do what of two things? - ANSWER- Ensure adequate Funds are available to make the payment Review and ensure all cardholder supporting documentation supports the payment Suspected ethics violations should be reported to: - ANSWER- supervisor Who is responsible for verifying proof of delivery for all governmentwide purchase card transactions during the monthly transaction review? - ANSWER- Approving/Billing offical Who is the individual responsible for ensuring the existence, accuracy, and legality of information on managing account billing statement? - ANSWER- Agency/Organization Program Coordinator//// In the event that a cardholder reports a misplaced, lost, or stolen card or check, which three of the following are true - ANSWER- The Bank must close the account the cardholder temporarily loses card privilege's