True or False: A Budget Modification allows you to move budgeted
costs to different line items. - ANS ✓True
What does the "Forecast to Complete" column show?
a. Money that you expect to be spent in addition to the projected costs
in order to complete that scope of work
b. Sum of all known and expected costs that may be required to
complete the scope of work
c. The difference between the projected budget and what you expect
the total cost of completion to be at the end of the project - ANS ✓a.
Money that you expect to be spent in addition to the projected costs in
order to complete that scope of work
What does the lightning bolt next to the "Forecast to Complete"
column mean?
a. That it is a manual calculation
b. That it is an automatic calculation
c. That you are over budget
d. That you are under budget - ANS ✓b. That it is an automatic
calculation
Financial Management Certification Procore
, 2
Financial
True or False: When you create a Budget Snapshot, its data becomes
immutable and will not reflect any future changes to the budget. - ANS
✓True
True or False: If you are integrated with an ERP accounting system
(e.g. Sage 300), Direct Costs pull directly from the integrated
accounting system. - ANS ✓True
What are the types of direct costs that you can create in Procore?
a. Expense and Invoice
b. Expense, Invoice, and Payroll
c. Payroll and Expense
d. Budget Modification - ANS ✓b. Expense, Invoice, and Payroll
How can we add a direct costs to the Direct Costs tool?
a. Import them using a Direct Costs CSV template
b. Manually add direct costs
c. Copy direct costs from the Budget tool
d. A and B - ANS ✓d. A and B
True or False: Direct Costs are associated with commitments. - ANS
✓False
True or False: Subcontracts with the status of Draft or Closed will be
reflected on the budget. - ANS ✓False
Financial Management Certification Procore
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