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
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
