Skip to main content

SAP FICO Certification Questions - 3

This is part 3 and concluding part of SAP FICO certification questions. Preparation for the SAP certification is quite daunting. The best sources is to read the training materials which is provided during the certification. You should read every line of it and any doubts test it in the system.

Take a test on this question
When entering a document using a foreign currency, which date is used to determine the exchange rate if the translation date is not entered ?(Single)
A. Posting date
B. Document date
C. Entry date
D. Baseline date
I got the answer wrong the first time. Write your answer. Check the solution at the end of the post.

Previous posts:

26. Choose the correct statements regarding recurring documents. (Multi)
A. When creating a recurring document, the valid time period must be defined.
B. The posting date is determined by either the run date or the run schedule.
C. Field values can be changed in recurring document.
D. After running the recurring document posting, the next run date cannot be displayed.
E. The original recurring document can be deleted from the batch input menu.

27. In manual bank statement customizing, you must (Multi)
A. Define an internal activity
B. Define a posting rule
C. Define a posting type
D. Define a currency
E. Define an account symbol

28. Which of the following statements about manual planning are correct?(Multi)
A. The planning type determines which bank accounts the plan amount to be inputted to.
B. The expiration date shows how long the payment advice is included in planning.
C. The payment advices for editing can be changed, archived, or reactivated.
D. Archived payment advices are included in planning till the value date.
E. The retention periods are determined by the bank account name.

29. Bank accounts should be controlled as follows when Cash Management is in use:(Multi)
A. Open items are managed for both the main bank account and the bank clearing account.
B. Both the main bank account and the bank clearing account permit line item displays.
C. The main bank account and the bank clearing account use the same sort key.
D. The value date in the field status string for both the main bank account and the bank clearing account must accept entry.
E. The cash-relevance flag in the master records for both the main bank account and the bank clearing account must be set.

30. Which of the following statements about creating customer master records are correct? (Multi)
A. An account group always gets assigned to a customer.
B. The company code is always a required entry.
C. The account number may be assigned by the user externally.
D. Information on each screen may be defined in configuration as mandatory, suppressed or optional, depending upon the account group.
E. Information on each screen may be defined in configuration as mandatory, suppressed or optional, depending upon the company code.

31. Which of the following statements are correct? (Multi)
A. A customer master is divided by client level and company code level.
B. In case of one-time customer you have to enter the customer's address in the document itself.
C. Address, control data, and reconciliation account are included in the client level of the customer.
D. The most efficient way to create master records is to work with the external number range not internal number range.

32. Which of the following statements are correct? (Multi)
A. If a customer is also a vendor, the system can include outstanding Accounts Receivable invoice items in payment program.
B. If a customer is also a vendor, the system can include outstanding Accounts Payable invoice items when you clear incoming
payment receipts for the customer.
C. The reconciliation account defined on the customer master record is an account used to reconcile CO transactions back to FI.
D. All customer belonging to the same account group must be assigned to the same reconciliation account.
E. The alternative payer is used to transfer outstanding receivable item to the alternative payer's account.

33. Bulk change of line item - this function allows you to change a whole group of line items simultaneously, instead of having to change individual items in the documents. What data can you change using this function?(Multi)
A. The reconciliation account
B. The company code
C. The payment terms and payment block
D. The house bank and payment method

34. Which of the following order types are internal orders?(Multi)
A. Result analysis orders for posting accrual costs in CO.
B. Capital investment orders for creating assets.
C. Maintenance orders.
D. Sales orders for make-to-order function
E. CO production orders.

35.Which of the following statements are correct regarding Internal Orders?(Single)
A. Planning transactions are allowed under any status.
B. Once an order has been released, only closing entries can be made.
C. Transactions can be allowed or disallowed depending in the
order status.
D. Additional order status categories can be created in the order master.

36.Which of the following statements is true about CO production orders?(Multi)
A. It is an internal order used to control production from a cost accounting point of view.
B. Bills of materials and routings are required.
C. It is not possible to post goods movements to and from the order.
D. You can post primary costs from Financial Accounting to the order.
E. You can post secondary costs from overhead calculation to the order.

37.Which statements are true regarding direct and indirect activity allocations? (Multi)
A. If both the amount of the activity used by the receiver and the total output activity quantity of the sender can be measured, then indirect activity allocation is used.
B. If the amount of activity consumed by the receiver is not measured, then indirect activity allocation is used.
C. Manual activity input planning cannot be performed if actual activities are allocated indirectly.
D. If direct activity allocation is used, the total output activity quantity is determined by summing all of the activity quantities allocated.

38. The primary cost element is one type of master data in Controlling. Before you can create a new primary cost element, certain prerequisites need to be fulfilled.
Which of the following conditions must be fulfilled BEFORE you can create primary cost elements?(Multi)
A. The controlling area must be defined.
B. The cost center must be defined.
C. The G/L account must be defined.
D. The plant must be in the system.
E. The business areas have been defined.

39. What is the difference between distribution and assessments? (Multi)
A. Distribution can be made for both planned and actual figures; assessments cannot.
B. Distributions can be made using statistical key figures; assessments cannot.
C. Distributions are used when the original cost information is necessary on the receiver; assessments are used when this information is not necessary on the receiver.
D. Distributions are made using the original primary cost elements; assessments are made using secondary cost elements.

You should remain calm and relaxed on the SAP Certification Examination. The examination will be computer based and will consist of singe as well as multiple choice questions. I had finished my answers in first one and hour of the examination but stayed there to check my answers again. I revised lot of my answers particularly the multiple choice ones. So it is a good idea to stay in the examination hall for allotted hours. The moment your time is up, you get the results.

The key to pass SAP certification is to read the SAP training documentation, try out the exercises and revise. You will pass the certifications. Good Luck.

The answer to the question

Q. When entering a document using a foreign currency, which date is used to determine the exchange rate if the translation date is not entered ?
A. B. Document Date

Any queries, please comment on the blog post.

Recommended SAP FICO reading


Santosh Puthran

Do you like to be updated in Accountancy ?

Click here to get updates by Email in your inbox


Subscribe in a reader

or Follow me on Twitter

You may also like to read
  1. SAP FICO Certification Questions - 1
  2. SAP FICO Certification Questions - 2
  3. Nestle SAP implementation Year 2000
  4. Forrester Wave - Report on SAP implementation provider
  5. SAP Training Centers
  6. SAP FICO interview questions
  7. SAP or Oracle - Which one should I do ?
  8. How to Share Blog posts with friends
  9. Management Accountant Blog Home


Popular posts from this blog

Poll : Does CIMA, UK qualification add value

Poll : Does pursuing CIMA, UK qualification add value to a member of ICWAI, India ? Vote on the poll and share your thoughts by commenting the blog. Poll: Vote here I feel that if you are a member of ICWAI and you pursue CIMA, UK qualification, you are not adding any value to your skills since you will be learning the same. Once you are qualified, you are still a Cost & Management Accountant but from UK. For an employer, I would still have same skills and training on Management Accounting. However if you pursue qualification like Company Secretary or CPA or ACCA , your skills are enhanced with the knowledge gained during training and passing of exams. After qualification, you are bound to follow the CPD programs of ICWAI and other institute. In competitive world, employer look for people with multiple skills. Which one promotes you as professional better against your name: AICWA, ACMA or AICWA, ACS or AICWA, CPA or AICWA, ACCA Widgets Regards, Santosh

Learning Curve Theory

Learning Curve Theory is concerned with the idea that when a new job, process or activity commences for the first time it is likely that the workforce involved will not achieve maximum efficiency immediately. Repetition of the task is likely to make the people more confident and knowledgeable and will eventually result in a more efficient and rapid operation. Eventually the learning process will stop after continually repeating the job. As a consequence the time to complete a task will initially decline and then stabilise once efficient working is achieved. The cumulative average time per unit is assumed to decrease by a constant percentage every time that output doubles. Cumulative average time refers to the average time per unit for all units produced so far, from and including the first one made. Major areas within management accounting where learning curve theory is likely to have consequences and suggest potential limitations of this theory. Areas of consequence: A Standard

Resistence to Change - Approaches of Kotter and Schlesinger

The Six (6) Change Approaches of Kotter and Schlesinger is a model to prevent, decrease or minimize resistance to change in organizations. According to Kotter and Schlesinger (1979), there are four reasons that certain people are resisting change : Parochial self-interest (some people are concerned with the implication of the change for themselves ad how it may effect their own interests, rather than considering the effects for the success of the business) Misunderstanding (communication problems; inadequate information) Low tolerance to change (certain people are very keen on security and stability in their work) Different assessments of the situation (some employees may disagree on the reasons for the change and on the advantages and disadvantages of the change process) Kotter and Schlesinger set out the following six (6) change approaches to deal with this resistance to cha