GPC Approving Official Test | 2026
UPDATE | QUESTIONS AND ANSWERS |
ALL CORRECT!!
Only the __________ is authorized to make purchases using the Purchase
Card. - ANSWERS-Cardholder
(T/F) Suspected unethical behavior should be reported to the A/OPC or
through the supervisory chain of command. - ANSWERS-True
__________ are used by the bank system to restrict Cardholders from
buying certain products or services. - ANSWERS-Merchant Category
Codes
(T/F) It is important to maintain a Purchase Log to provide accurate
and detailed records of all Cardholder purchases. - ANSWERS-True
The current Micro-Purchase Threshold is: - ANSWERS-(A) $10,000
(B) $25,000 NOT
(C) $5,000 NOT
(D) $3,500
, The AO account becomes delinquent _____ days from the statement
date if the bank has not received payment. - ANSWERS-(*A*) 30
(B) 60
(C) 28
(D) 45
(T/F) The cost of invoice certification is significantly less if processed
electronically. - ANSWERS-True
GPC refresher training must be taken - ANSWERS-(A) Once a year NO
(B) Twice a year
(*C*) Every two years
(D) Every three years
7 - ANSWERS-Per span of control policy, the maximum number of
Cardholder accounts an AO may oversee is
Credit balance - ANSWERS-occurs when the amount credited to an AO
account exceeds the amount billed by the bank
Which of the following transactions may not be disputed through the
bank? - ANSWERS-(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
UPDATE | QUESTIONS AND ANSWERS |
ALL CORRECT!!
Only the __________ is authorized to make purchases using the Purchase
Card. - ANSWERS-Cardholder
(T/F) Suspected unethical behavior should be reported to the A/OPC or
through the supervisory chain of command. - ANSWERS-True
__________ are used by the bank system to restrict Cardholders from
buying certain products or services. - ANSWERS-Merchant Category
Codes
(T/F) It is important to maintain a Purchase Log to provide accurate
and detailed records of all Cardholder purchases. - ANSWERS-True
The current Micro-Purchase Threshold is: - ANSWERS-(A) $10,000
(B) $25,000 NOT
(C) $5,000 NOT
(D) $3,500
, The AO account becomes delinquent _____ days from the statement
date if the bank has not received payment. - ANSWERS-(*A*) 30
(B) 60
(C) 28
(D) 45
(T/F) The cost of invoice certification is significantly less if processed
electronically. - ANSWERS-True
GPC refresher training must be taken - ANSWERS-(A) Once a year NO
(B) Twice a year
(*C*) Every two years
(D) Every three years
7 - ANSWERS-Per span of control policy, the maximum number of
Cardholder accounts an AO may oversee is
Credit balance - ANSWERS-occurs when the amount credited to an AO
account exceeds the amount billed by the bank
Which of the following transactions may not be disputed through the
bank? - ANSWERS-(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
