MDH - Corporate Purchasing Card Quiz

Question Title

* 1. An Activity Log is allowed to contain more than one billing cycle worth of data.

True

False

Question Title

* 2. Cardholder Activity Logs should be completed:

On the 25th of each month

After statement is received

When time permits

As purchases are made

Question Title

* 3. Considering disputed items, which of the following statements is not true?

An item should be disputed within 90 days after it appears on statement

Maryland sales tax should be disputed

An item should be disputed within 60 days after it appears on your statement

The bank will issue an adjustment/credit to card for disputed items

Question Title

* 4. Considering what vendors can do, which of the following statements is not true?

Vendors can add shipping fees to purchase

Vendors can charge Maryland sales tax for purchase

Vendors can charge postage fees to purchase

Vendors can not charge you more than a cash-paying customer

Question Title

* 5. New cards need this done before making any purchases:

Nothing

Wait five working days

Call Accounting

Call the activation phone # provided by the issuing bank

Question Title

* 6. Receipts and reconciled statements must be retained:

Until audited

For 2 years

Forever

For 3 years, or until audited, whichever is later

Question Title

* 7. Upon completion of the statement to Cardholder Activity Log reconciliation, you should:

Do nothing

File reconciliation and documentation for audit

Send statement to Accounting for payment

Forward reconciliation and receipts to supervisor

Question Title

* 8. Upon receipt of statement, within how many days must it be reconciled to the Cardholder Activity Log?

10 days

3 days

7 days

2 weeks

Question Title

* 9. Upon receipt of the bank statement, which of the following is not required:

Reconcile Activity Log to the bank statement

Assure that there is an invoice/receipt for each line item on the bank statement

Get appropriate signatures on the Activity Log and the bank statement

Send the bank statement to Accounting for payment

Question Title

* 10. What is the dollar limit for the corporate purchasing card procurement category?

$0 - $5,000

$5,000-$15,000

$15,001-$25,000

over $25,000.00