#1
Which agency is responsible for overseeing the Governmentwide Commercial Purchase Card Program?
Department of Defense
General Services Administration
Internal Revenue Service
Department of Homeland Security
#2
What is the primary purpose of the Governmentwide Commercial Purchase Card Program?
To facilitate personal purchases for government employees
To streamline procurement processes for small purchases
To manage large-scale government contracts
To regulate international trade agreements
#3
What is the maximum dollar threshold for purchases made using the Governmentwide Commercial Purchase Card without obtaining additional approvals?
$5,000
$10,000
$25,000
$50,000
#4
Which of the following statements about the micro-purchase threshold for Governmentwide Commercial Purchase Card transactions is true?
It is set at $10,000.
It varies depending on the agency's procurement policies.
It is determined by the cardholder's credit limit.
It does not apply to purchases made using purchase cards.
#5
Which of the following is NOT a required participant in the Governmentwide Commercial Purchase Card Program?
Cardholders
Contracting Officers
Agency/Organization Program Coordinators
Vendor Representatives
#6
What is the purpose of a Convenience Check in the context of the Governmentwide Commercial Purchase Card Program?
To authorize purchases from non-approved vendors
To obtain cash advances for personal use
To facilitate emergency purchases when the card is unavailable
To issue refunds for returned merchandise
#7
Which of the following is NOT a key benefit of using purchase cards in government procurement?
Reduced paperwork and administrative burden
Increased transparency and accountability
Enhanced security of sensitive information
Faster payment to vendors
#8
What is one of the main challenges associated with implementing and managing a Governmentwide Commercial Purchase Card Program?
Difficulty in obtaining approval for purchases
Inadequate training for cardholders
Lack of vendors willing to accept purchase cards
Excessive spending limits for cardholders
#9
What is a commonly used method for monitoring and controlling purchase card transactions to prevent misuse and fraud?
Manual review of paper receipts
Real-time transaction monitoring software
Dependence on cardholder self-reporting
Annual audits conducted by external agencies
#10
In the event of a lost or stolen purchase card, what is the first step a cardholder should take?
Contact the vendor where the card was last used
Immediately report it to the agency's designated point of contact
Wait for the next billing cycle to identify any unauthorized charges
Attempt to recover the card independently
#11
Which of the following is NOT typically considered an allowable expense when using a Governmentwide Commercial Purchase Card?
Office supplies
Travel expenses
Personal entertainment
Conference registration fees
#12
What is the primary purpose of the Single Transaction Limit (STL) on a Governmentwide Commercial Purchase Card?
To prevent cardholders from making multiple purchases in a short period
To limit the total amount that can be spent on a single purchase
To facilitate tracking of purchases for budgeting purposes
To determine the creditworthiness of cardholders
#13
Which federal regulation governs the use of purchase cards in government agencies?
Federal Acquisition Regulation (FAR)
Internal Revenue Code (IRC)
Department of Commerce Regulation (DCR)
Environmental Protection Agency Regulation (EPA)
#14
What role does the Agency/Organization Program Coordinator (A/OPC) play in the Governmentwide Commercial Purchase Card Program?
Approves all cardholder purchases
Provides training and support to cardholders
Processes payments to purchase card vendors
Issues purchase cards to agency employees
#15
Which federal agency oversees compliance with the regulations governing the Governmentwide Commercial Purchase Card Program?
Department of Commerce
Office of Management and Budget
Department of Homeland Security
National Institutes of Health
#16
Which federal law provides the statutory authority for the Governmentwide Commercial Purchase Card Program?
Federal Property and Administrative Services Act
Internal Revenue Code
National Defense Authorization Act
Federal Acquisition Regulation
#17
In the context of the Governmentwide Commercial Purchase Card Program, what is the purpose of the Merchant Category Code (MCC)?
To identify the cardholder's agency
To specify the cardholder's spending limits
To categorize the type of goods or services purchased
To provide customer service contact information