I have prepared this small book on "SAP Financials and Controlling Certification Q's with A's" which consists of 142 Q's along with Answers. These are only sample. The real Certification Exam Q's may vary from these.
SAP Financials and Controlling Certification Q's with A's
SAP FICO – SAP ECC 6.0 & SAP R/3Collection of Sample Questions with Answers forCertification Exam (For Quick Reference and Study)Prepared By: Ms. Pramila Nagaraj First Class MBA Finance Graduate (2009-10) - FRESHER Global Academy of Technology, Bangalore (VTU- Belgaum) Trained up in SAP FINACIALS @ SAPTAC Bangalore Note: Answers – Indicator is **
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S1. While entering exchange rates, if one unit of local currency is quoted for foreign currency, it is the case of: Indirect Quotation ** Direct Quotation2. Documents with open items cannot be archived because open items represent incomplete transactions. False True **3. The automatic clearing program cannot carry out automatic postings. True False **4. You can always display the line items of a GL account. False ** True You can only display the line items if the account is managed with line item display.5. Posting periods are opened and close automatically. True False **6. The payment program needs the ___________ to determine whether an open item has to be paid now or in the next payment run. Posting date Run date Document date Next Posting date **7. You can only work with one window session at a time in an SAP system. False ** True You can work in up to 6 window sessions simultaneously per log on.8. General Ledger Accounts have which type of number assignment. External ** Internal
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S9. Which of the following controls the field display for the company code data in the GL Account master data? Account number Chart of Accounts Reconciliation account Account Group **10. You maintain the Customer/ Vendor master data record centrally ,if you Create the SD/MM Segment first and later create the FI Segment. Create the FI and CO Segments together. Create the FI Segments at the same time as the SD/MM Segments. ** Create the FI Segment followed by the SD/MM Segments.11. The number of characteristics in interest indicator is One Three Four Two **12. All company codes in the payment run parameters must be in the same country. True ** False Company codes from different countries cannot be processed in the same payment run.13. One number range can only be assigned to one account group True ** False A number range can be assigned to several account groups.14. Every company code may define its own document types. False ** True The same document types are valid for every company code since they are defined at the client level.15. The following personalisation options are available in the SAP GUI: You can have system messages displayed in a dialog box. ** Every user can display a picture of their choice on the SAP Access Screen. You can change the font size (within limits) in the SAP GUI. ** You can use a personal input history on your front end. ** You can change the size of the input fields. You can suppress the display of pictures in the SAP GUI system. **
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S Numerous personalisation options are available, using the Extra menu, the customizing of local layout push button, the status bar and Hel Settings End users cannot, however change the size of input fields. You cannot use the SAP GUI to display a picture of your choice on the SAP Easy Access Screen.16. The R/3 System generates the exchange rate differences automatically. False True **17. __________ Number assignment means that the R/3 System assigns the number automatically. External Internal **18. Every company code may define its own document number ranges. True ** False19. You can also call the Context Sensitive SAP Library using the F 1 Key. True ** False You can call the Context Sensitivity help using the Application help push button in the F 1 Help window.20. Banks that are used by your company are defined as : Associated Banks House Banks ** Designated Banks Partner Banks21. One number range can be assigned to several document types. True ** False22. IBAN stands for: Integrated Bank Account Number International Business Account Number International Bank Account Number ** Indian Bank Account Number23. A Name for the interest calculation indicator is mandatory. True False ** A Name for the interest calculation indicator is useful but not mandatory.
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S24. ____________ must be defined in every company code before a cross company code transaction may be carried out. Tax accounts Clearing Accounts ** Account Groups Posting Period25. The __________ is a variant that contains the structure and the basic information about General Ledger Accounts. Business Area Posting Period Company Code Chart of Account **26. GL Accounts that are managed in local currency can only be posted to in this currency. True False ** GL Accounts in Local currency can be posted to in any currency.27. GL Accounts with open item management must have line item display activated. False True **28. In which of these cases Cross Company Code transactions can occur Central Payment ** Central Purchasing ** Sale of Goods to Customer Transfer of goods & services between company codes in same group. **29. You can void a check and reverse the payment document at the same time. True ** False30. The dunning text for dunning level 6 is stored in text module 616. True ** False Text module 616 is used for dunning level 6.31. Many business transactions occur in the system for which documents are created, but no accounting document is created because there is no effect for accounting. An example of this would be: Payment of Salaries to Staff Goods Receipt Receipt of Invoices Purchase order in Materials Management **
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S32. The following strings are valid entries in the command field From SAP Easy Access : SM04 ** From SAP Easy Access : Search_Sap_menu ** /nend ** ?SM04 /nsm 04 ** /nex ** You can enter valid transaction codes directly on the SAP Easy Access Screen. I f you are in another transaction, you need to enter /n in front of the transaction code. /end and /nex are two different log off options. ? SM04 is not a valid entry. Search_sap_menu is a valid entry; it creates a Screen Search for entries in the SAP menu.33. Which Cash Discounts are used in the Net procedure: Cash discount Clearing Account ** Cash discount Revenue Account Cash discount Expense Account Cash discount Loss Account **34. Reconciliation accounts are updated on a daily basis True False ** Reconciliation Accounts are updated on real time basis.35. The SAP standard includes the standard controlling area _________ which can be used as a template for creating other controlling areas. 0002 0001 ** 1000 IDES36. After the dunning proposal has been created, changes to the dunning data items or master records are ignored in the current dunning run. True ** False The data has already been selected from the database.37. If the user assigns the document number manually this is _________ number assignment. Internal External **
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S38. The authorization group in the posting period variant applies only to authorization for posting in special periods. True False ** The authorisation group applies to the first period interval. This can also be an internal with normal posting periods.39. You can use the F1 Key to: Display a list of possible input values End the session you are in Display detailed technical information on a field ** Change your user data (For Example : The log on Language) Display an explanation of a field’s uses ** The F1 help provides documentation and technical information on a field.40. The Parameters specify the accounts and documents that are to be considered in the dunning run. True ** False You can use the parameters to select the accounts and documents for the dunning run.41. A Controlling area must consist of a single company code. True False ** Multiple Company Codes can be assigned to a controlling area42. Account Master Data must contain an interest calculation indicator for interest calculation to take place. True ** False43. A ______________results in the open invoice and the incoming payment remaining in the customer account as open items. Posting with Clearing Reversal Entry Partial Payment **44. The __________ Specify the accounts and documents that are to be included in the payment run. Payment Media Parameters ** Payment Program Proposals
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S45. The Exception list is part of the payment proposal True ** False The Exception list is usually checked by the User department.46. The Payment proposal can be edited, deleted and recreated as often as necessary True ** False The Payment proposal does not make any changes to the values at document/ master record level.47. Customer and Vendor Account: Can have either internal or external number assignment. ** Can only have external number assignment. Can only have internal number assignment. Need not have any number assigned to them.48. A dunning notice is only sent if the dunning data has changed since the last dunning run or if “Always dun” is selected True ** False49. It is possible to dun vendors as well as customers True ** False50. In the R/3 Standard system, Company code ________ is a template for a general company code with chart of accounts INT and special country specifications. 0002 1000 0001 ** 200051. A complete vendor account consists of the following parts: General Data ** Purchasing Organization Segment ** Company Code Segment ** Sales Area Segment Note: Sales Area Segment pertains to Customer Accounts.
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S52. The day limits define the dates of the cash discount periods True False ** The day limits are used to store several versions of terms of payment under the same terms of payment key.53. The latest dunning level is equal to the legal dunning procedure True False ** The last dunning level triggers the manual dunning procedure, which often ends in the legal dunning procedure. The legal dunning procedure itself does not correspond to any dunning level.54. Posting with clearing can be carried out only for one account at a time True False ** It can be carried out for several accounts simultaneously.55. Posting periods are opened and closed automatically True False ** The posting period variant that contains the opens has to be maintained manually.56. SAP Net weaver Platform was introduced by SAP AG by in ____________. January 2003 ** 14th March 1999 March 2005 September 200157. The types of taxation that can be represented in the R/3 System are Taxation at International level Taxation at National level ** Taxation at Global level Taxation at Regional/Jurisdictional level **58. The chart of Accounts is defined using a _________ ID Three character alpha numeric Four character numeric Four character alpha numeric ** Five character numeric
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S59. The ________ is a variant that contains the structure and the basic information about general ledger accounts. Company code Posting Periods Chart of Accounts ** Business Area60. The Cross Company code transaction number is a combination of: First Company Code number ** First Company Code document number ** Fiscal Year ** Second Company Code61. Every installment of an installment plan must have its own terms of payment True ** False62. How many tab pages does the company code data of a customer or vendor master record have? Six One Four ** Three The Company Code data of a customer / vendor master record consists of all the areas (Tab pages) Accounting Information, Payment Transactions, Correspondence and Insurance (Customer accounts) or Withholding Tax (Vendor accounts)63. Match the Exchange rate types with their descriptions: B <------------- > Selling Rate M < ------------ > Average Rate for Posting and Clearing G < ------------- > Buying Rate64. A payment method can be used only if it is entered in the account master data False ** True A payment method can also be entered in the line item.65. Tax amounts of a cross company code transaction are automatically distributed to company codes in which the expenses / revenues occurred. True False ** The Tax is completely posted to the first company code.
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S66. In R/3 currencies are defined using which of the following? Currency Index Currency Keys ** Exchange Rates Currency Table67. While entering exchange rates, if one unit of foreign currency is quoted for the local currency, It is a case of: Indirect Quotation Direct Quotation **68. The number of characters in interest indicator is : Two ** One Four Three69. You can void a check and reverse payment document and the vendor invoice all at the same time. True False ** Reversing the vendor invoice is a separate transaction from voiding the check and reversing the payment document.70. Before you can create cost centres, you must first create a _____________ hierarchy Standard ** Complete Logical Optimum71. The Company Codes assigned to a controlling area can all have different chart of account True False ** The Company codes assigned to a controlling area must all use the same operational chart of accounts.72. Clearing a credit memo with an open invoice is an example of : Account Clearing ** Open Item Residual Item Post with Clearing
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S73. Posting a payment for an open invoice with a resulting zero balance is an example of: Posting with Clearing ** Archiving Residual Item Account Clearing74. IBAN contains a maximum of __________ characters. 34 Numeric 25 Numeric 34 Alpha Numeric ** 4 Alpha Numeric75. In R/3 a document is saved for every posting, this principle is called : Data Integration Document Principle ** Mutual Posting Automatic Configuration76. Cash Journal identification is done by a ____________ 2 Digit Alpha numeric key 3 Digit Numeric key 4 Digit Alpha numeric key ** 4 Digit Numeric key77. Cross – Company code clearing accounts must be GL Accounts True False ** Cross – Company code clearing accounts can be GL accounts as well as Customer/ Vendor accounts.78. During the transfer of Salary Expense data to financial accounting the period was already closed. How does the system react? The system automatically reopens the closed periods. The Salary expense data is transferred without any problem Nothing happens An error message is displayed for the HR document. The document has to be recreated in HR.79. A GL accounts consists of which Segments: Chart of Accounts Segment ** Sales Area Segment Company Code Segment ** Purchasing Organization Segment Sales Area Segment pertains to Customer Account. Purchasing Organization pertains to Vendor Account.
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S80. A company code may be assigned to more than one controlling area True False ** One company code may be assigned so only one controlling area.81. Every dunning procedure must have at least for dunning levels True False ** Every dunning procedure can have between 1 and 9 dunning levels.82. What data is required for the automatic account determination for tax accounts Posting Key ** Tax category Rules ** Tax accounts **83. Customers without dunning procedure in the master record are dunned with a default dunning procedure. True False ** Customers without a dunning procedure in the master record cannot be dunned.84. The dunning run updates the dunning data in the dunned items and accounts True False ** The dunning data is not update until the dunning notices are printed.85. Document number ranges must not overlay True ** False86. GL Accounts must be defined for exchange rate losses or gains True False **87. The R/3 System generates the exchange rate differences automatically True ** False88. Every document is uniquely identified by the following fields: Document number ** Line item Company code ** Fiscal year **
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S89. _____________ data is short lived and assigned to master data Fixed Default Transaction ** Master90. The ___________ is the data that the system uses to determine the due date of the invoice Invoice Baseline date ** Invoice receipt date Date of goods receipt In order to calculate cash discount, the system must be able to access a baseline date as well as the start date.91. You can create Secondary cost elements in Financial accounting module True False ** Secondary Cost elements are created only in Controlling.92. IBAN was designed by: International Organization for standardization (ISO) International Organization for Standardization (ISO)and European Committee for Banking Standards (ECBS) ** European Committee for Banking Standards (ECBS) World Bank93. Documents with open items cannot be archived because open items represent incomplete transactions. True ** False94. The “Run Date “is always the date when a certain dunning run is supposed to be started. True False ** The “Run on” field is also used to identify dunning runs. It does not have to be the date when the dunning run is actually performed.95. The Maximum length of a GL account number is ___________ digit. 16 10 ** 12 4
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S96. One dunning form can be used for all dunning levels and dunning areas : True ** False You can decide to use one or more dunning forms.97. The Sequence in which the payment methods are entered in the payment parameters reflects their priority. True ** False98. Credit memos can be linked to invoices to ensure that invoices to ensure that invoice and credit memos are due on the same date True ** False99. You should use open item management for the which of the following accounts: Salary Clearing accounts ** Clearing accounts for Goods Receipts/Invoice Receipts ** Bank Clearing accounts ** Material Stock accounts100. Every company code may define its own document number ranges True ** False101. General Ledger accounts have which type of number assignment? External ** Internal102. What are the essentials of SAP’s product strategy ( in just a few words) All words to be in lower case without full stop extend rather than replace (Answer)103. The types of interest calculations in SAP R/3 are: Item interest calculation ** Account balance interest calculation ** Interest calculation on payables None of the above104. You can configure SAP R/3 to calculate interest for customers/vendors that owe you money. You cannot calculate interest, however if you owe your business partner money. True ** False
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S105. While entering exchange rates, if one unit of local currency is quoted for the foreign currency; it is the case of: Indirect Quotation ** Direct Quotation106. Cross Company code documents cannot be reversed True False ** Cross company code documents can be reversed, to do this use the reversal functions for cross company code transactions.107. One number range can be assigned to several document types. True ** False108. A _____________ clears the invoice and the payment to create a new open item. Partial Payment Account Clearing Posting with Clearing Residual item **109. Match the standard types with their description. KZ Customer Invoice ( DR) DG Automatic Posting (ZP) AB Vendor net invoices & credit memos (KN) KR Vendor Payments (KZ) ZP Vendor Credit Memos (KG) SA Vendor Invoices (KR) DZ General Documents (AB) KN GL Account Postings (SA) DR Customer Payments (DZ) KG Customer Credit Memo (DG)110. The use of Business Area is ___________ Automatic Mandatory Unavoidable Optional **111. You can assign a business area to a company code directly True False ** Business areas are not directly assigned to company codes. Business areas are primarily used for creating reports across company codes.
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S112. A clearing document must have at least two line items True False ** A clearing document may have no line items.113. The company codes of a cross company code transaction may have different local currencies True ** False114. The Automatic clearing program cannot carry out automatic postings. True False **115. GL Accounts that are managed in foreign currency can only be posted to in this foreign currency. True ** False116. _______________ Accounts contain the total of the transaction figures for the corresponding Sub Ledger Accounts. Customer Reconciliation ** General Ledger Vendor117. My SAP Business Suite contains the following Cross – Industry Solutions ** Services ** Industry Solutions ** Technology ** My SAP Business Suite is a family of open business solutions that integrates people, information, and processes to drive efficiency and profitability from business relationships. My SAP Business Suite features Cross – Industry Solutions, Industry Solutions, Technology, Infrastructure and services.118. One number range can only be assigned to account group True False ** A number range can be assigned to several account groups.119. You can use the F4 key to: Call the SAP Library Start another Session Display detailed technical information on a program Create a print request of the screen currently displayed.
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S Display possible entries for an input field. ** The F4 Key provides a list of possible entries for a selected field.120. On a given account, SAP R/3 cannot calculate different operational chart of accounts, you cannot carryout cross company code controlling True ** False You can carry out Cross Company Code controlling if each company code uses the same operational chart of accounts.121. The relationship between currencies must be maintained per exchange rate type and currency pair using __________. Currency key Inversion Translation Ratios ** Average of buying and selling rate.122. One can automatically generate and save the IBANs for several master records True False ** The IBAN can only be entered in a vendor/customer master record if the business partner provides his IBAN and requests the entry. One has to enter the IBAN manually in each master record.123. Dunning procedures with only one dunning level are referred to in the system as __________. Single Level Dunning Dunning Notices Nil Dunning Payment Reminders **124. You can also call the Context Sensitive SAP Library using the F1 Key True ** False You can call the Context Sensitive help using the application help push button in the F1 help window.125. The posting keys to be used in the clearing document are defined in “Clearing documents” True ** False126. A complete customer account consists of the following parts: Purchasing Organization Segment Company Code Segment ** General Data ** Sales Area Segment **
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S Purchasing Organization Segment pertains to Vendor Account.127. No more than two periods can be open at the same time True False ** As many periods a required can be open simultaneously. However, only two period intervals can be open at the same time.128. ___________ data contains information that remains the same over a period of time Master ** Fixed Default Transaction129. The payment terms of a credit memo usually do not apply and due date is either the due date of the associated invoice (or) the base line date of the document. True ** False130. A Cross – Company Code Transaction consists of at least ________________documents. Four Two ** Three One131. The dunning proposal can be edited, deleted and recreated as often as required. True ** False Because the database has not changed until the dunning notices are printed.132. The Customer/Vendor accounts must always be maintained centrally. True False ** Customer/Vendor accounts can be maintained centrally or decentrally.133. Two documents can not have the same document number. True ** False134. At the beginning of a new fiscal year the system always starts the document number assignment again at the start of the number range. True False **
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S The system only restarts numbering at the beginning of a new year, if the document range is defined per fiscal year.135. __________ must be defined in every company code before a cross company code transaction may be carried out. Tax Accounts Posting Periods Account Groups Clearing Accounts ** The Clearing accounts may be GL accounts, Customer or Vendor Accounts.136. Name the tools for maintaining the exchange rates. Bank Buying Rates Exchange Rate Spreads ** Inversion ** Base Currency ** Currency Keys137. Which of the following statements accurately describe a client in SAP System? A client corresponds to a customer. A client represents a completely independent business entity. ** A client has its own database. A client may represent an entire company. **138. The data for all clients in an SAP system is stored within a single common data base. This data is never the less divided by client so that different companies can be administered and controlled in different clients. A client is not a customer within an SAP system.139. The possible field status definitions in the order of their priority are: Optional Entry, Required Entry, Display, Hide. Hide, Display, Required Entry, Optional Entry. ** Display, Hide, Required Entry, Optional Entry. Required Entry, Optional Entry, Display, Hide.140. Document types and Posting keys are defined at ___________ level. Client ** Document Company Code Business Area141. Which Cash discount accounts are used in the Gross Procedure? Cash Discount Expense account **
SAP FINANCIALS/CONTROLLING SAMPLE CERTIFICATION Q’S WITH A’S Cash Discount Clearing account Cash Discount loss account Cash Discount Revenue account **142. An account is only dunned if all the overdue items have exceeded the minimum days in arrears. True False ** If one overdue items has exceeded the minimum days in arrears, the account is dunned.