Procore Financial Management UPDATED ACTUAL Questions and CORRECT Answers

Procore Financial Management UPDATED
ACTUAL Questions and CORRECT
Answers
You should make the designated bid documents folder 'private' before you add it to your bid
package. - CORRECT ANSWER✔✔- False


What should you do if Procore did not properly identify and name a specific section correctly
when uploading your spec book to the project? - CORRECT ANSWER✔✔- Click on the
incorrect field, edit the value, and click Enter or Return on your keyboard


You should always make sure that your spec book has a Table of Contents before you upload
it into the Specifications tool. - CORRECT ANSWER✔✔- True


Where can you check if bid invitees have downloaded their bid documents? - CORRECT
ANSWER✔✔- Under the bid package's Download log


How can you search for bidders to add them to the bid list (when viewing the Search for
Bidders page)? - CORRECT ANSWER✔✔- All of the above


What is the best way to inform bidders of a change to the bid documents after they have been
sent out? - CORRECT ANSWER✔✔- Send an email from the Correspondence tab in
Procore


You can create a commitment directly from an awarded bid. - CORRECT ANSWER✔✔-
True


The only way to upload a budget into Procore is by using the designated import template. -
CORRECT ANSWER✔✔- True



Which tasks can be performed when a budget is unlocked? - CORRECT ANSWER✔✔- A
and C

, The Approved CO and Pending Budget changes pull from the Potential Change Order tier,
and not the Change Order Request or Prime Contract Change Order tier. - CORRECT
ANSWER✔✔- True


What are the three (3) types of columns that can be included in your configurable budget
view? - CORRECT ANSWER✔✔- Standard, Calculated, and Source



You can change the name of any column. - CORRECT ANSWER✔✔- True


Columns need to be selected or checked in a view in order to be included in a calculated
column. - CORRECT ANSWER✔✔- False


How do you create a schedule of values in Procore's Prime Contract tool? - CORRECT
ANSWER✔✔- All


You can create an owner invoices when the Prime Contract is set to 'Draft' mode. -
CORRECT ANSWER✔✔- False


You have the option to release retainage on all line items at one time with a single bulk
action. - CORRECT ANSWER✔✔- True



Which of the following accurately describe the Prime Contract? - CORRECT ANSWER✔✔-
A Place where you can manage all contract-related work and share financial data with your
owner or client


By default, users with 'Standard' level permission can view the Prime Contract. - CORRECT
ANSWER✔✔- False


Which of the following can not be created until the Prime Contract's status is set to
Approved? Select all that apply. - CORRECT ANSWER✔✔- Change Orders, Owner
Invoices


A Budget Modification allows you to move budgeted costs to different line items. -
CORRECT ANSWER✔✔- True