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WorksheetsM6_Procurement
Total questions: 12
Worksheet time: 7mins
The Prompt Payment Act requires that payment be remitted to vendors within how many days?
10
15
30
45
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.
True
False
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
$100
$500
$1000
$5000
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.
University Legal Counsel
IT Procurement
No special review needed
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.
Requestor
Receiver
Can be the person who physically receives pages, and/or electronically “receives” them in the HokieMart system. This receipt initiates the payment process.
Requestor
Receiver
VT’s e-procurement (purchasing) system which allows Virginia Tech to provide an effective and efficient purchasing system for the university.
Page Up
Chrome River
HokieMart
Banner
A 6-digit ID number that allows you to record expenses for a specific activity.
Banner Fund Number
Org Code
Account Code
A specific way of identifying what has been purchased in HokieMart. Remember, Fixed Assets uses these to track equipment vs. supplies.
Banner Fund Number
Account Code
Org Code
Where can you find the list of account codes?
Bursars Office Website
Controllers Office Website
Provost Office Website
Human Resources Website
How can you embrace the SWaM initiative? (SELECT ALL THE APPLY!)
Make use of established term contracts with women-owned and minority-owned businesses
Be aware of woman-owned and minority-owned businesses and consider directing department-level purchases under $2,000 to those vendors
When searching for goods or services in HokieMart, look for the SBE, WBE, or MBE icon next to the vendor name
Share information about new woman-owned and minority-owned sources
The University P-Card should only be used for which of the following? (select all that apply)
Emergency purchases
Purchases with vendors who do NOT accept HokieMart purchase orders
Airline tickets
Conference Registration
Basic office supplies from Amazon
