NAPCP - CPCP Certification questions with answers,

NAPCP - CPCP Certification questions \| \| \| \| \|




with answers \|




End-users are - CORRECT ANSWERS ✔✔the companies, government
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agencies, universities/colleges, etc that provide P-Cards to their employees.
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P-Card program managers(PM), program administrator(PA), and/or site
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coordinator (SC) are - CORRECT ANSWERS ✔✔the primary roles that\| \| \| \| \| \| \| \| \| \|




manage a P-Card program within an end-users organization.
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Cardholders are - CORRECT ANSWERS ✔✔those who initiate P-Card \| \| \| \| \| \| \| \| \|




transactions on behalf of their employer, the end-user organization.\| \| \| \| \| \| \| \|




Suppliers are - CORRECT ANSWERS ✔✔those who accept P-Cards as
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payment for goods and services. \| \| \| \|




Issuers are - CORRECT ANSWERS ✔✔those who work directly with end-
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users to implement and grow programs, issue cards, and invoice posted P-
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Card transactions.
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True or False:
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The issuer uses the services of the networks and processors to faciliate card
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issuance, authorize transactions, and provide date. Many financial institutions
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are not issuers. Issuers are sometimes called card "providers" - CORRECT
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,ANSWERS ✔✔False: Many financial institutions are issuers. USBANK and JP
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Morgan Chase are examples.
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Merchant acquirers are - CORRECT ANSWERS ✔✔those who enroll
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suppliers in the card acceptance process and implement equipment and
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software solutions related to this purpose. They facilitate payment flow
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including payment to suppliers. \| \| \|




What is also known as a supplier's bank? - CORRECT ANSWERS
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✔✔Merchant acquirers \|




What is also known as card providers? - CORRECT ANSWERS ✔✔Issuers
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What is a purchasing card? - CORRECT ANSWERS ✔✔It is a type of
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commercial credit card used by organizations for the payment of goods and
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services.



Why were P-Cards created? - CORRECT ANSWERS ✔✔A financial re-
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engineering tool to streamline accounts payable processes, typically replacing
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paper checks as the payment method for low-value transactions.
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Which is not a benefit of using the P-Card?
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a. procure in a timely manner
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b. take advantage of supplier discounts
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c. convenience fee
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d. reduce transaction costs
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,e. track expenses - CORRECT ANSWERS ✔✔c. convenience fee
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Networks are - CORRECT ANSWERS ✔✔used to facilitate the movement of
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transactional data between the issuer and the merchant acquirer and set the
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rules pertaining to suppliers' card acceptance.
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What organizations would be considered a network? - CORRECT ANSWERS
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✔✔Visa, MasterCard, and American Express
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What are also known as associations? - CORRECT ANSWERS ✔✔Networks
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Processors are - CORRECT ANSWERS ✔✔those who provide various services
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to card issuers and merchants acquirers, which may include card production,
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statement printing, authorization and data delivery.
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What is Procure-to-Pay Process?
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a. Pay for what you buy online or in-person; obtain a receipt
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b. Suppliers fulfill cardholder orders, charge a card when shipped, receive
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packing list with product; no invoice received
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c. Suppliers fulfill cardholder order, charge card, ships product; invoice
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received

d. Suppliers send invoice, charge card, fulfill order, ship product; packing list
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received - CORRECT ANSWERS ✔✔b. Suppliers fulfill cardholder orders,
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charge a card when shipped, receive packing list with product; no invoice
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received

, Benefit for using the Procure-to-Pay process:
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a. supplier receive payment within 2-3 days versus 30+ days
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b. receive a payment voucher guaranteeing payment
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c. cardholders have their product before they have to pay
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d. The process eliminates all paperwork - CORRECT ANSWERS ✔✔a.
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supplier receive payment within 2-3 days versus 30+ days
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Who provides an invoice (central bill) to the end-user organization reflecting
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the total of each P0Card account plus a grand total of what is owed for the
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cycle?

a. Suppliers
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b. Processors
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c. Networks
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d. Merchant acquirers
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e. Issuers - CORRECT ANSWERS ✔✔e. Issuers
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Corporate liability or organization liability are terms for
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______________________________. - CORRECT ANSWERS ✔✔Liability for \| \| \| \| \| \|




payment.



Who neither owes the card issuer nor makes payments?
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a. Cardholders
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b. Suppliers
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c. End-users
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