




Study with the several resources on Docsity
Earn points by helping other students or get them with a premium plan
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community for help and clear up your study doubts
Discover the best universities in your country according to Docsity users
Free resources
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
Financial Management Certification Procore Exam Questions and Answers
Typology: Exams
1 / 8
This page cannot be seen from the preview
Don't miss anything!
True or False: You should make the designated bid documents folder 'private' before you add it to your bid package. - 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? a. Re-upload the spec set b. Click on the incorrect field, edit the value, and click Enter or Return on your keyboard c. Click Publish All d. Remove the Table of Contents and upload the file again - Answer- b. Click on the incorrect field, edit the value, and click Enter or Return on your keyboard True or False: You should always make sure that your spec book has a Table of Contents before you upload it into the Specifications tool. - Answer- True Where can you check if bid invitees have downloaded their bid documents? a. Under the bid package's Download log b. Under the bid package's Emails tab c. Under the bid package's Correspondence tab d. There is no way to check this information in Procore - Answer- a. 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)? a. Type the name of the company in the keyword search bar b. Filter by trades or cost codes c. Filter by jobsite proximity d. Filter by vendor ratings e. All of the above - Answer- e. 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? a. Send an email from your personal email account b. Send an email from the Correspondence tab in Procore c. Procore will automatically notify bidders of a change to bid documents d. Delete the bid package and create a new one - Answer- b. Send an email from the Correspondence tab in Procore
True or False: You can create a commitment directly from an awarded bid. - Answer- True True or False: The only way to upload a budget into Procore is by using the designated import template. - Answer- True Which tasks can be performed when a budget is unlocked? a. Add line items b. Create budget modifications c. Create change orders d. All of the above e. A and B f. A and C - Answer- f. A and C True or False: 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. - Answer- True What are the three (3) types of columns that can be included in your configurable budget view? a. Standard, Calculated, and Basic b. Standard, Calculated, and Source c. Standard, Source, and Configurable - Answer- b. Standard, Calculated, and Source True or False: You can change the name of any column. - Answer- True True or False: Columns need to be selected or checked in a view in order to be included in a calculated column. - Answer- False How do you create a schedule of values in Procore's Prime Contract tool? a. Import the schedule of values (SOV) from a CSV file b. Copy the schedule of values from the Budget c. Manually add each line item d. All of the above e. Both A and B - Answer- d. All of the above True or False: You can create an owner invoices when the Prime Contract is set to 'Draft' mode. - Answer- False True or False: You have the option to release retainage on all line items at one time with a single bulk action. - Answer- True Which of the following accurately describe the Prime Contract? a. A place you can manage profit and loss for all internal stakeholders
True or False: If you are integrated with an ERP accounting system (e.g. Sage 300), Direct Costs pull directly from the integrated accounting system. - Answer- True What are the types of direct costs that you can create in Procore? a. Expense and Invoice b. Expense, Invoice, and Payroll c. Payroll and Expense d. Budget Modification - Answer- b. Expense, Invoice, and Payroll How can we add a direct costs to the Direct Costs tool? a. Import them using a Direct Costs CSV template b. Manually add direct costs c. Copy direct costs from the Budget tool d. A and B - Answer- d. A and B True or False: Direct Costs are associated with commitments. - Answer- False True or False: Subcontracts with the status of Draft or Closed will be reflected on the budget. - Answer- False True or False: When creating a purchase order and filling out the contract company, you must select a vendor/company who exists in the project directory. - Answer- True A purchase order with which of the following status will appear in the Committed Costs column on the budget? a. Draft b. Closed c. Processing d. Partially Received e. Approved - Answer- e. Approved True or False: You need to add billing recipients for each commitment in order to send invoices for that commitment. - Answer- True In order to receive invoices, a subcontractor needs which of the following: a. To be added to the Billing Recipients list b. To be added to the Private section of the commitment c. To be an Admin on the project's Prime Contract tool d. All of the above e. Both A and B - Answer- e. Both A and B What status should an invoice be in to prevent the subcontractor (who has access to the Commitment) from making changes to the requisition? a. Approved b. Approved or Draft c. Approved and Pending Owner Approval
d. Any status but 'Draft' or 'Revise & Resubmit' - Answer- d. Any status but 'Draft' or 'Revise & Resubmit' What permissions do subcontractors need to break down line items in a SSOV but not modify the general schedule of value line items? a. Read-Only b. Standard c. Admin d. None - Answer- b. Standard Which user will receive an email to set up their subcontractor SOV? a. The user who enables the subcontractor SOV b. The user listed as an Invoice Contact for the commitment c. The user who created the general SOV - Answer- b. The user listed as an Invoice Contact for the commitment What must be true before a subcontractor can create a subcontractor invoice? a. The Commitment's status must be set to Complete b. The Commitment's status must be set to Approved c. The Subcontractor SOV must be set to Approved d. All of the above e. B and C - Answer- d. All of the above What is the monthly due date in a billing period for an invoice? a. The date the subcontractor must submit the invoice by b. The date the subcontractor must create the invoice by c. The date the subcontractor must email the invoice by - Answer- b. The date the subcontractor must create the invoice by If reminder emails are enabled, subcontractors will receive an email at the frequency selected from the time the invitation is sent until the invoice is created and the status is updated to a status other than 'Draft' or 'Revise and Resubmit.' - Answer- True Turning on the configuration that sends a digest of Under Review invoices does which of the following? a. Send an email every other day to the Billing distribution that lists all invoices with the status of Under Review b. Send an email every day to the Billing distribution that lists all invoices with the status of Approved c. Send an email every day to the Billing distribution lists that lists all invoices with the status of Under Review, Revise and Resubmit, and Draft - Answer- c. Send an email every day to the Billing distribution lists that lists all invoices with the status of Under Review, Revise and Resubmit, and Draft Within the Invoicing tool, there are two tabs: The Owner tab, and the Subcontractor tab.
What does the Commitment Billing Period drop-down prefill our invoice with? Select all that apply. a. Approved and Pending Owner Approval Subcontractor Amounts in the Billing Period b. Direct Costs whose Received Dates are in the Billing Period c. Approved Commitment Change Orders whose amounts are in Prime Contract Change Orders d. Approved Prime Change Orders - Answer- a. Approved and Pending Owner Approval Subcontractor Amounts in the Billing Period b. Direct Costs whose Received Dates are in the Billing Period c. Approved Commitment Change Orders whose amounts are in Prime Contract Change Orders Which status should you set an owner invoice to when it is ready for review by the owner? a. Draft b. Under Review c. Pending Approval d. Approved - Answer- b. Under Review What can you do on the Details tab for an owner invoice? Select all that apply. a. Add work completed b. Add stored materials c. Add attachments d. Add retainage - Answer- a. Add work completed b. Add stored materials d. Add retainage True or False: You can export the configurable PDF of an owner invoice. - Answer- True What does the configurable PDF tab on an Owner invoice allow you to do? Select all that apply a. Display change orders in line b. Filter line items c. Group or summarize line items - Answer- a. Display change orders in line c. Group or summarize line items When should you create a change event? a. Once you create any RFI b. Once you think an issue may have a cost associated with it c. Once you create a change order d. Before you create a budget modification - Answer- b. Once you think an issue may have a cost associated with it True or False: A change event listed as "Out of Scope" means that the change falls within the scope of the original contract. - Answer- False
True or False: A user with 'Admin' permissions on the Change Orders tool can respond to an RFQ on behalf of an RFQ recipient. - Answer- True True or False: Regardless of who responds to an RFQ, the creator of the change event can update the response and the status of the RFQ. - Answer- True When creating a Commitment Change Order (CCO), how are the various "Pending" statuses reflected in the budget? a. Only CCOs with the status of "Approved" show up in the budget b. They show up in the Pending Costs column on the budget c. Only "Pending-In Review" status shows up in the Pending Costs column on the budget - Answer- b. They show up in the Pending Costs column on the budget What permission is required in order for a person to show up in the Designated Reviewer drop-down list when issuing a change order? a. They must have 'Read-only' permissions or above on the Change Orders tool b. They must have 'Standard' permissions on the Change Orders tool c. They must have 'Admin' permission on the Change Orders tool - Answer- b. They must have 'Standard' permissions on the Change Orders tool True or False: A custom report allows you to report on multiple tools at once. - Answer- True True or False: A custom report can only be created at the project level. - Answer- False True or False: You can create a custom calculation using existing data/values from the other columns. - Answer- True