Question 1

Which of the following method is NOT used to detect conflicts of interest?

Options :

A : Tips & Complaints

B : Review of vendor ownership files

C : Underbillings of assets

D : Interviews with purchasing personnel

Answer: C

Question 2

In physical tampering prevention technique, hidden images can be seen only when the check is held at an angle through:

Options :

A : High-resolution sprays

B : Holographic safety inks

C : Watermark backers

D : Chrome coloring

Answer: C

Question 3

The seller's price to the buyer is not fixed or determinable when:

Options :

A : When the price is not contingent on some future events

B : The transaction includes an option to exchange the product for others

C : A service or membership fee is not subject predictable cancellation during the contract period.

D : Payment terms are not extended for a substantial period.

Answer: B

Question 4

Which of the following is NOT the reason to bribe employees of the purchaser?

Options :

A : To ensure receipt of a late bid

B : To extend the bid opening date

C : To ensure bid-splitting

D : To falsify the bid log

Answer: C

Question 5

The principal way to detect omitted credits from books of account is through:

Options :

A : Forced Balance

B : Trend analysis

C : Expense account

D : None of all

Answer: B