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M6_Procurement

Total questions: 12

Worksheet time: 7mins

Name
Class
Date
1.

The Prompt Payment Act requires that payment be remitted to vendors within how many days?

a)

10

b)

15

c)

30

d)

45

2.

True or False: According to the procedure section of Policy 3260, when completing receiving in HokieMart, you should also record the date of receipt of the goods or services on the electronic HokieMart receipt.

a)

True

b)

False

3.

The purchase of goods or services by the university from an entity owned by an employee of the university, or by a member of the employee’s immediate family, is a prohibited conflict of interest under state law when the value of the purchase or contract is equal to or greater than

a)

$100

b)

$500

c)

$1000

d)

$5000

4.

The generating department must send all contracts, other than those related to competitive solicitation or sole source, to __________________ for review of legal sufficiency before signing.

a)

University Legal Counsel

b)

IT Procurement

c)

No special review needed

5.

An individual who initiates the purchase of goods and services. In the HokieMart electronic purchase system, they shop for items and create a “cart" that will be approved and may become a purchase order.

a)

Requestor

b)

Receiver

6.

Can be the person who physically receives pages, and/or electronically “receives” them in the HokieMart system. This receipt initiates the payment process.

a)

Requestor

b)

Receiver

7.

VT’s e-procurement (purchasing) system which allows Virginia Tech to provide an effective and efficient purchasing system for the university.

a)

Page Up

b)

Chrome River

c)

HokieMart

d)

Banner

8.

A 6-digit ID number that allows you to record expenses for a specific activity.

a)

Banner Fund Number

b)

Org Code

c)

Account Code

9.

A specific way of identifying what has been purchased in HokieMart. Remember, Fixed Assets uses these to track equipment vs. supplies.

a)

Banner Fund Number

b)

Account Code

c)

Org Code

10.

Where can you find the list of account codes?

a)

Bursars Office Website

b)

Controllers Office Website

c)

Provost Office Website

d)

Human Resources Website

11.

How can you embrace the SWaM initiative? (SELECT ALL THE APPLY!)

a)

Make use of established term contracts with women-owned and minority-owned businesses

b)

Be aware of woman-owned and minority-owned businesses and consider directing department-level purchases under $2,000 to those vendors

c)

When searching for goods or services in HokieMart, look for the SBE, WBE, or MBE icon next to the vendor name

d)

Share information about new woman-owned and minority-owned sources

12.

The University P-Card should only be used for which of the following? (select all that apply)

a)

Emergency purchases

b)

Purchases with vendors who do NOT accept HokieMart purchase orders

c)

Airline tickets

d)

Conference Registration

e)

Basic office supplies from Amazon