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CLG 0010 EXAM LATEST 2024-2025 WITH COMPLETE SOLUTION 150, Exams of Government & Non-Profit Accounting

CLG 0010 EXAM LATEST 2024-2025 WITH COMPLETE SOLUTION 150 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS)

Typology: Exams

2024/2025

Available from 07/06/2025

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CLG 0010 EXAM LATEST 2024-2025 WITH COMPLETE
SOLUTION 150 QUESTIONS AND CORRECT ANSWERS
(VERIFIED ANSWERS)
How Long does Foreign Military Sales Documentation have to be
retained following a case closure - ANSWER- 6 Years and 3 Months
6 Years
10 Years
An Unauthorized commitment is an agreement that is not binding solely
because the agreement involved a purchase amount above the micro-
purchase threshold. - ANSWER- False
Which two of the following must be included in supporting
documentation for all governmentwide Commercial Purchase card
Transactions? - ANSWER- Receipt
Invoice
Which three of the following are cardholder considerations before
purchase? - ANSWER- Obtain Approval from the
Agency/Organization Program Coordinator
Ensure adequate and appropriate funds are available-Correct
Determine if any special requirements or approvals are required.-Correct
Check for availability from required sources-Correct
What is defined as any felonious act of corruption or attempt to cheat
the government or corrupts the government's agents by charge card
program officials. - ANSWER- Internal Fraud
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Download CLG 0010 EXAM LATEST 2024-2025 WITH COMPLETE SOLUTION 150 and more Exams Government & Non-Profit Accounting in PDF only on Docsity!

CLG 0010 EXAM LATEST 2024-2025 WITH COMPLETE

SOLUTION 150 QUESTIONS AND CORRECT ANSWERS

(VERIFIED ANSWERS)

How Long does Foreign Military Sales Documentation have to be retained following a case closure - ANSWER- 6 Years and 3 Months 6 Years 10 Years An Unauthorized commitment is an agreement that is not binding solely because the agreement involved a purchase amount above the micro- purchase threshold. - ANSWER- False Which two of the following must be included in supporting documentation for all governmentwide Commercial Purchase card Transactions? - ANSWER- Receipt Invoice Which three of the following are cardholder considerations before purchase? - ANSWER- Obtain Approval from the Agency/Organization Program Coordinator Ensure adequate and appropriate funds are available-Correct Determine if any special requirements or approvals are required.-Correct Check for availability from required sources-Correct What is defined as any felonious act of corruption or attempt to cheat the government or corrupts the government's agents by charge card program officials. - ANSWER- Internal Fraud

Splitting what would have been an 11'000 purchase into two transactions, each of which falls under the micro-purchase threshold, is:

  • ANSWER- Strictly Prohibited Which of the following is the term for a shipment of supplies or equipment that is delayed along the transportation chain and will not move until all problems are resolved? - ANSWER- Frustrated Freight Whose Responsibility is it to comply with government agency standards of conduct? (Select the three that apply) - ANSWER- Supervisor Approving/Billing officer Agency/Organization Program Coordinator The Governmentwide commercial Purchase card used as the method of payment for commercial training requests using the SF-182, Valued at or below 25,000, in lieu of an employee reimbursement by miscellaneous payment. - ANSWER- Must be According to 10 united states code 2784, which two of the following could result from a governmentwide commercial purchase card program violation? - ANSWER- Recovery of costs from governmentwide commercial Purchase Card officials Increased data surveillance Because they are a potential indicator of misuse, abuse, or fraud, delinquent accounts are subject to what? - ANSWER- Increased Scrutiny In step 10 of the governmentwide commercial purchase card program, what are three pieces of information that should be included in the cardholder purchase log - ANSWER- Name of the requestor Total Dollar Value of the transaction Date on which the item/service was ordered

What is the artificial intelligence data mining platform that automatically analyzes the DOD' Governmentwide commercial Purchase card data to identify high-risk transactions - ANSWER- Insight on Demand (IOD) What are three examples of abuse of the Governmentwide Commercial Purchase Card? - ANSWER- Violating a specific-use Policy Exceeding the applicable micro-purchase Threshold Splitting requirements to avid card thresholds If transactions not made by the Cardholder appear on the Statement of Account, the Cardholder should dispute them with the card-issuing bank within how many days of the transaction date? - ANSWER- 90 Days Cardholders who have been formally granted the appropriate authority in their Letter of Delegation may use the Governmentwide Commercial Purchase Card to make Simplified acquisitions up to $25,000 outside the United States and its jurisdictions - ANSWER- True Which three of the following statements about convenience checks are true - ANSWER- Convenience checks must be secured in a locked container the Cardholder can dispute a convenience check after payment has been made Funds must be available to cover the check value and the banks processing fee ////////// Which of the following is a cardholder responsibility in the governmentwide commercial purchase card program? - ANSWER- Reconcile the monthly statement of account Who's Responsibility is it to comply with government agency standards of conduct - ANSWER- Approving/billing Officer Agency/organization program coordinator

Supervisor If commercial, Door to door shipping is not available for a governmentwide commercial purchase card purchase to be shipped overseas, the cardholder must - ANSWER- Ensure approximate shipping information ans been provided /////// In step 10 of the Governmentwide Commercial Purchase Card Program, what are three pieces of information that should be included in the Cardholder Purchase Log? - ANSWER- Dame of the requestor Total Dollar value of the transaction Date on which the item/service was ordered If required office paper is available from a mandatory source of supply (such as the Committee for Purchase from People Who Are Blind or Severely Disabled), the Cardholder must purchase the paper from the mandatory source, even if similar paper is available at a lower price from a non-mandatory source. - ANSWER- True Which of the following terms is defined as "the intentional use of the government-issued charge card in violation of applicable regulations" - ANSWER- Abuse Which of the following is an agreement that is not binding solely because the government representative who made it lacked the authority to enter into that agreement on behalf of the government? - ANSWER- Unauthorized Commitment Which three of the following are cardholder responsibilities in the Governmentwide Commercial Purchase Card Program? - ANSWER- Complete appropriate Training Ensure transactions are made with responsible merchants Reconcile the monthly statement of account

avoid prompt payment interest Allow for maximum refunds- New ///// Frustrated freight may never reach the intended recipient - ANSWER- True Which of the following is an appropriate circumstance for using a convenience check? - ANSWER- A merchant does not accept payment by credit card The secretary of defense authorizes and increases in the micro- purchase threshold to 20,000 to support declared contingency operations in Afghanistan. Several Personnel in your office have been needing new laptops, so this is a good time to take advantage of the increase and purchase 20 laptops at $500 each, for a total price of $10,000 - ANSWER- False DoD policy allows for governmentwide commercial purchase card billing statement certification prior to verification that all items submitted for payment have been received in order to - ANSWER- Avoid Prompt payment interests Decrease penalties for faulty disputes avoid pecuniary liability 10 United States Code 2784 requires specific corrective actions for Governmentwide Commercial Purchase Card Program violations - ANSWER- True Which three of the following constitute cardholder fraud - ANSWER- A cardholder's unauthorized purchase of power tools for personal use purchasing items or extra quantity of items for resale or to give away to relatives Paying for repairs of privately owned equipment

in step 12 of the governmentwide commercial purchase card program process, what are three Situations in which the acceptor must ensure written independent receipt and acceptance - ANSWER- Purchase of accountable property Transactions where the governmentwide commercial purchase card is used as a method of payment Self Generated Cardholder Purchases-Correct In order to use the governmentwide Commercial Purchase card for simplified acquisitions up to $25,000 outside the united states and its jurisdictions, the cardholder, merchant, and supply delivery/service execution must all be outside the united states and its jurisdictions - ANSWER- true Failure to certify a Managing Account Billing Statement is a timely manner results in what three things? - ANSWER- Interest penalties Automatic suspension of accounts Disruption to Government Purchases What are three advantages of using the governmentwide commercial purchase card? - ANSWER- Gives DoD access to information about what its components buy Reduces dod invoicing costs Enables the government to earn refunds Which two statements about managing accounts are true - ANSWER- Require a Primary Approving/billing Official Are used to roll up cardholder accounts-New Whos responsibility is it to comply with Government agency standards of conduct - ANSWER- Agency/Organization Program Coordinator Approving/billing Officer Merchant

Who is responsible for verifying proof of delivery for all governmentwide purchase card transactions during the monthly transaction review? - ANSWER- Approving/Billing offical Who is the individual responsible for ensuring the existence, accuracy, and legality of information on managing account billing statement? - ANSWER- Agency/Organization Program Coordinator//// In the event that a cardholder reports a misplaced, lost, or stolen card or check, which three of the following are true - ANSWER- The Bank must close the account the cardholder temporarily loses card privilege's The Government is not relieved of its obligation to pay for valid transactions made prior to the loss. Cardholders who hold an Ordering Officer delegation must follow Component procedures for order placement. These procedures will address requirements related to which three of the following?

  • ANSWER- Small Business Vendor change card scanning capabilities Competition-Correct Public Notification-Correct I dont know, Answers are wrong Executive orders 12674 and 12731 form the foundational policy on the ethical conduct of federal employees. what are three violations of these executive orders? - ANSWER- Defrauding the government using public office for private gain giving preferential treatment to any person or organization A Best practice calls for the cardholder to reconcile transactions in the statement of account within how many days of the billing cycle end date? - ANSWER- 3

Which of the governmentwide commercial purchase card program's mandatory oversight procedures involves the approving/billing official documenting findings and disciplinary category determinations? - ANSWER- Semi-Annual Head of activity Reviews///// Monthly Agency/organization program coordinator reviews///// Internal Control Reviews///// At 90 days past due, what happens to all cardholder accounts associated with a managing account - ANSWER- Automatically Suspended Which of the Governmentwide Commercial Purchase Card Program's mandatory oversight procedures is a consolidation of the previous Monthly Agency/Organization Program Coordinator Reviews? - ANSWER- Internal Control Review///// Once you establish a good working relationship with a particular supplier, you should make all of your purchases from that supplier - ANSWER- False You receive a request to purchase construction services. After obtaining all necessary approvals, you call the construction company, which advises you that the cost for its services will total $2,400. yo agree to make the purchase, and the construction company accepts your governmentwide commercial purchase card as the method of purchase. what did you do wrong? - ANSWER- You made a purchase for construction with the governmentwide commercial purchase card that exceeded $2, Cardholders may be granted authority to use their Governmentwide Commercial Purchase Card accounts to make payments against contracts. - ANSWER- True Which three items describe external fraud - ANSWER- Includes billing for items not ordered

How many Cardholder accounts may be rolled up under a Managing Account? - ANSWER- Seven You receive a request to purchase construction services. After obtaining all necessary approvals, you call the construction company, which advises you that the cost for its services will total $2,400. You agree to make the purchase, and the construction company accepts your Governmentwide Commercial Purchase Card as the method of purchase. What did you do wrong? - ANSWER- You made a purchase for construction with the Governmentwide Commercial Purchase Card that exceeded $2, Because they are a potential indicator of misuse, abuse, or fraud, delinquent accounts are subject to what? - ANSWER- Increased scrutiny What must the Cardholder do to become qualified to make Governmentwide Commercial Purchase Card purchases up to $25, outside of the United States and its jurisdictions? - ANSWER- The Cardholder must receive customized training Which of the following is a Cardholder responsibility in the Governmentwide Commercial Purchase Card Program? - ANSWER- Reconcile the monthly Statement of Account Which of the following is an appropriate circumstance for using a convenience check? - ANSWER- A merchant does not accept payment by credit card How long does Foreign Military Sales documentation have to be retained following case closure? - ANSWER- 10 years In order to use the Governmentwide Commercial Purchase Card for simplified acquisitions up to $25,000 outside the United States and its jurisdictions, the Cardholder, merchant, and supply delivery/service

execution must all be outside the United States and its jurisdictions. - ANSWER- True Cardholders may be granted authority to use their Governmentwide Commercial Purchase Card accounts to make payments against contracts. - ANSWER- True If required office paper is available from a mandatory source of supply (such as the Committee for Purchase from People Who Are Blind or Severely Disabled), the Cardholder must purchase the paper from the mandatory source, even if similar paper is available at a lower price from a non-mandatory source. - ANSWER- True Every Governmentwide Commercial Purchase Card Cardholder should be issued both a card and convenience checks. - ANSWER- False Cardholders who hold an Ordering Officer delegation must follow Component procedures for order placement. These procedures will address requirements related to which three of the following?

  • ANSWER- A. Small business B. competition C. public notification Which three of the following constitute Cardholder fraud? - ANSWER- a. A Cardholder's unauthorized purchase of power tools for personal use b. Paying for repairs of privately owned equipment c. Purchasing items or extra quantity of items for resale or to give away to relatives In step 10 of the Governmentwide Commercial Purchase Card Program, what are three pieces of information that should be included in the Cardholder Purchase Log? - ANSWER- a. Name of the requestor b. Date on which the item/service was ordered c. Total dollar value of the transaction

The Governmentwide Commercial Purchase Card used as the method of payment for commercial training requests using the SF-182, valued at or below $25,000, in lieu of an employee reimbursement by miscellaneous payment. - ANSWER- Must be What are three advantages of using the Governmentwide Commercial Purchase Card? - ANSWER- A. Enables the Government to earn refunds B. Gives DoD access to information about what its Components buy C. Reduces DoD invoicing costs A best practice calls for the Cardholders to reconcile transactions is the Statement of Account within how many days of the billing cycle end date? - ANSWER- 3 Which three items describe external fraud? - ANSWER- a. Is a felonious act of corruption or attempt to cheat the Government b. Includes billing for items not ordered c. Is committed by someone other than charge card program officials An unauthorized commitment is an agreement that is not binding solely because the agreement involved a purchase amount above the micro- purchase threshold - ANSWER- False Once you establish a good working relationship with a particular supplier, you should make all of your purchases from that supplier - ANSWER- False Suspected ethics violations should be reported to: - ANSWER- The supervisor When using a Governmentwide Commercial Purchase card, which of the following is a prohibited purchase - ANSWER- Construction services over $2,

What are three authorized uses of the Governmentwide Commercial Purchase Card? - ANSWER- a. Open-market micro-purchases b. Contract payments c. Ordering Officer purchases and payments Which one of the following is an advantage of using the Governmentwide Commercial Purchase Card? - ANSWER- Quicker payments Which of the following information must be included on detailed/itemized receipts? (Select two) - ANSWER- a. Date of purchase b. Name of merchant Prior to certifying the Managing Account Billing Statement for contract payment by Governmentwide Commercial Purchase Card, the Approving/Billing Official must do which one of the following? - ANSWER- Review and ensure all Cardholder supporting documentation supports the payment Which of the following is a reason that DoD policy allows for Governmentwide Commercial Purchase Card Billing Statement certification prior to verification that all items submitted for payment have been received in order to: - ANSWER- Avoid prompt payment interest What is the Procurement Integrated Enterprise Environment (PIEE) module used to initiate, review, approve, store, and terminate required delegations of procurement authority and/or appointments? - ANSWER- Joint Appointment Model (JAM) Which Governmentwide Commercial Purchase Card Program mandatory oversite procedure includes a consolidation of the previous six Monthly Agency/Organization Program Coordinator (A/OPC) Reviews - ANSWER- Semi-Annual Head of Activity Reviews

What is the Cardholder Statement of Account? - ANSWER- A document reflecting all purchases and credits that have been posted to the Cardholder's account during the 30 calendar days of the billing cycle Splitting what would have been an $11,000 purchase into two transactions, each of which falls under the micro-purchase threshold, is:

  • ANSWER- Strictly prohibited In the event that a Cardholder reports a misplaced, lost, or stolen card or check, which three of the following are true? - ANSWER- A. The government is not relieved of its obligation to pay for valid transactions made prior to the loss B. The bank must close the account C. A new card or checks are issued At 90 days past due, what happens to all Cardholder accounts associated with a Managing Account? - ANSWER- Automatically suspended Who is responsible for verifying proof of delivery documentation for all Governmentwide Commercial Purchase Card transactions during their monthly transaction review? - ANSWER- Approving/Billing Official (A/BO) Which one of the following is an example of abuse of the Governmentwide Commercial Purchase Card? - ANSWER- Violating a specific-use policy Which two statements about Managing Accounts are true? - ANSWER- A. Requires a Primary Approving/Billing Official B. Are used to roll up Cardholder accounts