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SAP FICO MODEL QUESTION PAPER
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2018-03-23T06:28:56

SAP FI/CO Certification Sample Questions

Caution: more than one answer may be correct.

Please mark ALL correct answers.


Question1:

Which of the following statements are correct?


A More than one chart of accounts can be created for each client

B The chart of accounts contains all the G/L accounts, vendor accounts and customer accounts

C More than one company code can be allocated to the same chart of accounts

D The chart of accounts controls all the customising settings in the R/3 system

E All accounts within a chart of accounts must have the same tax code


Question2:

What status reports does Cash Management and forecasting include?


A. Cash management position

B. Liquidity forecast

C. Credit limit report

D. G/L account balances

E. Bill holdings


Question3:

Which of the following are clearing procedures in accounts receivable?


A. Incoming payment

B. Down payment request

C. Credit memo

D. Transfer posting


Question4:

When creating an Overhead Cost Order, the first order information which must be entered is:


A. Order status

B. Order type

C. Settlement type

D. Currency

E. Classification code


Question5:

When creating an Overhead Cost Order, the settlement rule must be entered in the control data.

Which settlement receivers are available for internal orders?


A. Cost center

B. Orders

C. General ledger accounts

D. Asset

E. Vendor


Question6:

In Controlling, a distinction is made between master data, planning, actual data and the information system.

Which of the following master data belongs to Controlling?


A. G/L account

B. Work center

C. Cost center

D. Activity type

E. Supplier


Question7:

Within Overhead Cost Controlling activities are calculated. A Sender/Receiver relationship exists. However, not all Sender/Receiver combinations are allowed.

Which of the following combinations make business sense?


A. Sender. Cost Center, Order, Project

Receiver. Cost Center, Order, Project

B. Sender. Order

Receiver. Cost Center, Project

C Sender. Cost Center

Receiver. Cost Center, Order, Project, Cost Object


Question8:

Period closing activities are also performed in Controlling. This is dependent on certain prerequisites. Which of the following are MINIMUM criteria before it makes sense to carry out period closing?


A. The posting period has been closed.

B. Materials have been withdrawn.

C. Personnel costs have been incurred.

D. Overhead has been incurred.

E. An order was closed.


09. You are missing the commitment values for internal orders. Where do you have to activate commitment management to get these values?

Note: There are 2 correct answers to this question.

a) In the original order budget

b) In the controlling area

c) In CO version 0

d) In the order type

10. You want to save your previous standard cost center hierarchy from 2015 for reporting purposes and create a new one for 2016. Which name is used for the copied hierarchy?

Note: Please choose the correct answer.

a) Original name plus system-defined suffix

b) Original name plus user-defined suffix

c) User-defined prefix plus original name

d) System-defined prefix plus original name


11. You want to perform results analysis on sales orders and need to use two different methods to reflect different accounting principles such as US-GAAP and IFRS. How do you achieve this?

Note: Please choose the correct answer.

a) Use two results analysis keys in the sales order items

b) Use two requirement classes in the sales order items

c) Use two results analysis versions defined in Customizing

d) Use two separate sales order items

12. Which of the following is a typical process sequence for selling products from stock?

Note: Please choose the correct answer.

a) Incoming order -> Goods receipt/transport -> Dunning and payment -> Billing

b) Purchase requisition -> Billing -> Transport/goods receipt -> Dunning and payment

c) Incoming order -> Transport/delivery -> Billing -> Dunning and payment

d) Purchase requisition -> Delivery/transport -> Dunning and payment -> Billing

13. The system does not allow you to create a primary cost element. What do you check first?

Note: Please choose the correct answer.

a) Whether the P/L account exists

b) Whether the cost element category is valid

c) Whether the balance sheet account exists

d) Whether the G/L account currency is the same as the controlling area currency

14. What selection criteria can be used to copy actuals to a target planning version?

Note: There are 3 correct answers to this question.

a) Cost centers

b) Cost elements

c) Fiscal year

d) Actual version

e) Period

15. You have posted the results of an assessment cycle run, but some of the assigned receivers were incorrect. How can you correct this?

Note: Please choose the correct answer.

a) Correct the receiver entries and rerun the cycle with a different cycle run group to post only the corrected results to the first run

b) Cancel the allocation with the original settings before you correct the receiver entries and rerun the cycle

c) Post a manual cost allocation with the same assessment cost element

d) Correct the receiver entries and rerun the cycle. The original run will be canceled automatically

16. Where do you have to activate Commitments Management to enable postings of commitments on cost centers?

Note: Please choose the correct answer.

a) In the cost element master record

b) In the standard hierarchy

c) In the controlling area

d) In the cost center master record

17. Which of the following is a typical process sequence for selling products from stock?

Note: Please choose the correct answer.

a) Purchase requisition -> Delivery/transport -> Dunning and payment -> Billing

b) Incoming order -> Transport/delivery -> Billing -> Dunning and payment

c) Purchase requisition -> Billing -> Transport/goods receipt -> Dunning and payment

d) Incoming order -> Goods receipt/transport -> Dunning and payment -> Billing

18. The system does not allow you to create a primary cost element. What do you check first?

Note: Please choose the correct answer.

a) Whether the G/L account currency is the same as the controlling area currency

b) Whether the P&L account exists

c) Whether the balance sheet account exists

d) Whether the cost element category is valid


19. You are missing the commitment values for internal orders. Where do you have to activate commitment management to get these values?

Note: There are 2 correct answers to this question.

a) In the original order budget

b) In the controlling area

c) In CO version 0

d) In the order type


20. Which of the following statements correct with reference to product cost collector?

Note: There are 2 correct answers to this question.

a) It is a cost object for collecting production costs for manufactured product

b) Costing by lot size is required for product cost collector

c) All the costs for a material during the month is debited to a single product cost collector

d) Product cost collector is a single order created for a material


21. The controlling department requires the production order variances to be settled to profitability analysis. How can you achieve this?

Note: There are 2 correct answers to this question.

a) Set the Variances indicator in the settlement profile.

b) Assign an allocation structure to the settlement profile.

c) Set the To Be Settled in Full indicator in the settlement profile.

d) Assign a PA transfer structure to the settlement profile



22. You want to define some fields as mandatory in an internal order. How can you achieve this?

Note: Please choose correct answer

a) Adjust the field status variant in the order layout.

b) Adjust the field selection in the order type.

c) Define the fields as mandatory in the model order.

d) Define a user status in the status profile



23. A customer uses assessment cycles in Cost Center Accounting. What do you need to do to receive the results on the profit centers in New General Ledger Accounting?

Note: Please choose the correct answer.

a) Activate document split for cost centers in New General Ledger Accounting.

b) Activate real-time reconciliation between Controlling (CO) and Financial Accounting (FI).

c) Activate plan integration for profit centers.

d) Define and execute the appropriate cycles in New General Ledger Accounting.


24. For which record types can you set up a valuation in costing-based profitability analysis?

Note: There are 2 correct answers to this question.

a) F – Billing data

b) X – Activity allocation

c) K – Cost center assessment

d) B – Direct posting from Financial Accounting     


              

25. How can you set up segment reporting in New General Ledger Accounting?

Note: There are 2 correct answers to this question

a) Define segment master records in Management Accounting.

b) Activate segment reporting in Customizing.

c) Assign segments in the master record of the profit center.

d) Assign segments in the master record of the cost center.


26. Which step in the sales-from-stock process creates the cost of goods sold in costing-based profitability analysis?

Note: Please choose the correct answer.

a) Outbound delivery

b) Outbound delivery

c) Billing

d) Creation of the sales order



27. You want to plan costs on an internal order. Which of the following options can you use to reduce manual planning effort?

Note: Please choose correct answer

a) Copy plan to plan

b) Top-down planning for order hierarchies

c) Activity output planning

d) Plan assessment     


28. Which of the following terms apply to costing-based profitability analysis?

Note: There are 2 correct answers to this question?

a) Contribution margin

b) Balance sheet statement

c) Segment reporting

d) Cost of sales accounting


29 - In which SAP client can be used to configure STMS?


A - 001


B - 000


C - 066


D - All of the above


30.  Which of the following is used to differentiate transactions that comes from different line of business in a company?


A - Business Area


B - Credit Control


C - Functional Area


D - General Ledger


31. To effectively manage and control large number of G/L accounts, you can use Chart of accounts group?


A - True


B – False


32. Which of the following is used to determine Account types (A, D, K, M, and S) and also the type of posting?


A - Posting Keys


B - Field Status group


C - Field status Variant


D - Posting Periods


33. You can also hold posting of a G/L document or temporarily save the document in which of the following conditions?


A - When G/L document is not complete


B - Incomplete/Incorrect Information in the document


C - To save the document at later stage


D - All of the above


34. To manage quality defects and incorrect deliveries, which of the following can be used?


A - Document Reversal


B - Sales Return


C - Sales Invoice


D - Posting invoices


35. Which of the following statement is not correct about Credit control area?


A - The credit control area is used for credit management in AR and SD components.


B - You define a credit control area according to the areas of responsibility for credit monitoring. For each credit control area, you enter a key, a name, and the currency in which the credit limit is to be managed in the credit control area.


C - Credit control can contain one company code.


D - Credit control is used to specify and control the customer credit limits


36. Consider a case- you have an invoice # 23156 and this invoice will remain open till you receive a payment for this invoice. When a payment is received a new document is created # 50000678, when you enter the receipt and this document also becomes the clearing document. Now due to some error, when you have to reverse this payment document, which of the following can be used to perform this?


A - Outgoing Partial Payments


B - Withholding Tax in vendor invoice


C - Reset AP Cleared Items


D - Automatic Payment Program


37. Which of the following is not a category under Automatic Payment program?


A - Setup all company codes


B - Setup paying company codes


C - Payment method per country


D - Payment method per country code


E - All company codes from different countries

38. Which of the following report in AR account analysis, which of the following can be used to analyze customer open transactions company wise, group wise, Credit control etc. User can define open transactions criteria based on due date, Payment history, Currency analysis, overdue items etc.?


A - Customer Line Item Analysis


B - Balance Analysis


C - Customer Evaluation Report


D - All of the above


39. There is a customer with an outstanding amount of 1500 and makes a payment of 500 then there will two separate open items of 1500 Debit and 500 Credit in FI system?

A - Posting Incoming Payments

B - Foreign currency invoice

C - Incoming Partial Payments

D - Incorrect payment invoices


40. In SAP FI, you can post a vendor invoice in foreign currency so you can do currency analysis. If you post in FI, you can directly post back date invoices?


A - True


B – False


41. Which of the following can be used to provide details of bank account which is used by company to make payment to vendors and customers?


A - Payment method per country


B - Payment method per country code


C - Bank Selection


D - House Bank


42. In Field status group, field is available in screen, but it's grayed out, you cannot fill anything in here. This is known as −


A - Suppress


B - Optional


C - Require


D - Display


43. SAP SUPPORT PACKS CAN BE APPLIED TO WHICH TYPE OF LANDSCAPE?

   A.1-SYSTEM LANDSCAPE

   B.2-SYSTEM LANDSCAPE

   C.3-SYSTEM LANDSCAPE

   D.ALL OF THE ABOVE     

44. Q2.  ON SAP INSTALLATION WHICH OF THE FOLLOWING CLIENT/CLIENTS ARE MADE BY DEFAULT?

    A.CLIENT 000

    B.CLIENT 001

    C.CLIENT 066

    D.ALL OF THE ABOVE   

45. IS IT POSSIBLE TO HAVE MULTIPLE LANDSCAPES IN ONE TRANSPORT DOMAIN ?

   A. YES   

   B. NO

46. THE SYSTEMS IN A SYSTEM LANDSCAPE SHARE CUSTOMIZING AND REPOSITORY OBJECTS VIA ________ ?

   A.TRANSPORT REQUESTS   

   B.CONSOLIDATION ROUTE

   C.REMOTE FUNCTION CALL

   D.ALL OF THE ABOVE

47. WHICH OF THE FOLLOWING TRANSACTION CODE USED TO RELEASE A TASK?

   A. SE05

   B. SE07

   C. SE09   

   D. SE04

48. Which of the following are process dimensions of SAP business workflow?

A.  Organization4 structure

B.  Process structure

C.  Function

D.  Information

E.  All the above

F.  None of the above

49. Which of the following are the fields of 'General Data' in customer/vendor accounts?

A.  Insurance

B.  Account Management

C.  Both Insurance and Account Management

D.  None of the above

50. Which of the following is a smallest unit in an organization for which financial statements (profit-loss statement, etc.) can be generated?

  1. A company

  2. company code

  3. functional area

  4. credit control

51. Which of the following chart of accounts type contains all General Ledger accounts that are used to meet daily needs in a company?

  1. Company Chart of accounts

  2. Country Chart of accounts

  3. Operating Chart of accounts

  4. None of these

52. To post transactions to an account in any currency, account currency should?

  1. Account currency is same as local currency of company code

  2. Account currency is different from company code currency

  3. When you don’t maintain account currency

  4. All of the above

53. Which two data sections are part of every asset? Note: there are 2 correct answers

a. Account determination data section

b. Depreciation data section

c. Master data section

d. Valuation area data section

54. In an asset main number in Asset Accounting, which information can be different between international GAAP and local GAAP? Note: there are 2 correct answers

a. Asset capitalization date

b. Net book value

c. Asset class

d. Depreciation start date

55. Which of the following business scenarios can be handled with accrual and deferral postings?

a. Monthly rent payments for an office building

b. One-time payment for fixing flooding damage

c. One-time payment for one-year cloud storage service

d. Monthly subscription for financial newspaper

56. Which entries can you define when maintaining a G/L account?

a. Ledger assignment

b. Profit center

c. Field status group

d. Account group

e. Open item management

57. What is the benefit of a drilldown report?

a. The navigation area

b. The edit and save functionality

c. The workflow connection

d. The automatic refresh

58. You are asked to set up the accounting structure to facilitate segment reporting based on the SAP standard segmentation scenario. Which organizational unit can be used to derive the segment?

a. Profit center

b. Company code

c. Business area

d. Functional area

59. Which options are available to define the number range of a document? There are 2 answers to this question

a. Ledger group specific

b. For every fiscal year variant

c. For every fiscal year

d. Continuous

60. A vendor is also a customer. The payment program has to clear the open items. Which setting has to be maintained in both master data records?

a. The alternative payer and payee

b. The same bank details

c. The account link

d. The same payment method

61. Which of the following parameters are defined in the payment program to select appropriate open items? Note : There are 2 correct answers

a. Exchange rate type

b. Bank account

c. Program identification

d. Purchasing group

62. Your customer requires a new Report Painter report that displays both cost information and statistical key figures. How can you implement this requirement? Choose the correct answer

a. Define two separate reports and combine them

b. Define two horizontal pages in the report

c. Define two variants for the report

d. Define two sections in the report

63. Which step in the sales from stock process creates the cost of goods sold in Costing-based Profitability Analysis (CO-PA)? Choose the correct answer

a. Billing

b. Outbound delivery

c. Creation of the transport order

d. Creation of the sales order

64. A customer uses assessment cycles in cost center accounting. What do you need to do to receive the results on the profit centers in New General Ledger Accounting? Choose the correct answer

a. Define and execute the appropriate cycles in New General Ledger Accounting

b. Activate plan integration for profit centers

c. Activate document split for cost centers in New General Ledger Accounting

d. Activate real-time reconciliation between CO and FI

65. For which purpose can you use the result of a reference and simulation cost estimate? Choose the right answer

a. To calculate a price for an internal activity

b. To calculate a simulated product without a material master

c. To update the plan of a production order

d. To update the standard price of a reference material

66. You are missing the commitment values for internal orders. Where do you have to activate commitment management to get these values? Note: There are 2 correct answers to this question

a. In the original order budget

b. In the controlling area

c. In CO version 0

d. In the order type

67. What are the three data types in SAP?

a. Master data, transaction data, and balance data

b. Master data, table data and user data

c. Master data, table data and transaction data

d. Table data, user data and transaction data

e. Master data, table data and server data

68. What are the different account types in SAP?

a. customer, vendor, GL

b. customer, vendor, GL, asset, material

c. customer, vendor

d. customer, vendor, asset

69. In SAP, a bill of exchange receivable items is cleared during

a. discounting the bill

b. transfer posting with clearing

c. reversal of contingent liability

d. clearing against outstanding advances from the customers

70. One bank account is mapped in SAP to __________ .  Note: there are 2 correct answers

a. account id

b. house bank

c. bank key

d. G/L account

e. country plus bank key

71. Business area once defined is available for use to:

a. all company codes in the client

b. all company codes in all the clients

c. only to the company codes to which the business area is assigned to

d. all company codes assigned to the company to which the business area is assigned

72. The G/L account for a bank is linked to ___________________. Note: there are 2 correct answers

a. a house bank

b. many house banks

c. one house bank plus one account id

d. one house bank plus multiple account id’s in the same bank

e. many house banks and many account id’s

73. Which of the following statements are true? Note: there are 2 correct answers

a. company code can have one retained earnings account only

b. company code can have more than one retained earnings account

c. chart of accounts can have more than one retained earnings account

d. chart of accounts can have one retained earnings account only

e. none of the above

74. Fast entry screens in FI are used to enter:

a. customer and vendor line items

b. G/L line items

c. G/L, customer and vendor line items

d. invoice receipt against GR

75. Posting keys are used to decide:

a. dr/cr indicator, field status of transaction screen, account types

b. dr/cr indicator, account types

c. dr/cr indicator, field status of transaction screen, account types, special G/L applicability

d. dr/cr indicator, field status of transaction screen

76. Foreign currency valuation is possible:

a. only for vendor/ customer open items

b. only balance sheet items(G/L items)

c. both of the above

77. How many parallel currencies are possible and at what level they are assigned?

a. 2 local currencies, chart of account

b. 3 local currencies, chart of account

c. 2 local currencies, company code

d. 3 local currencies, company code

78. Financial statements can be generated in ________________ .

a. local currency

b. document currency

c. controlling area frequency

d. any currency for which customization is maintained

79. Easily entered document entry templates are called ____________________.

a. sample document

b. account assignment models

c. worklists

d. recurring documents

80. In SAP, a bill of exchange receivable items is cleared during:

a. discounting bill

b. transfer posting with clearing

c. reversal of contingent liability

d. clearing against outstanding advances from the customers

81. The views maintained for vendor master data are:

a. general data, company code data

b. general data, company code data, purchasing data

c. general data, company code data, business area data

d. general data, company code data, business area data, plant data

82. When you carry out automatic payment, bank through which payment is effected is based on?

a. ranking order of house banks

b. house banks maintained for specific business areas

c. house banks entered in the parameters of the run

d. ranking order and available balance in the accounts

83. Check management with relation to outgoing payments is possible for open items for:

a. vendors

b. vendors and customers

c. vendors, customers and G/L accounts

d. vendors and G/L accounts

84. Default exchange rate picked up during FI document is :

a. exchange rate maintained for type “B”

b. exchange rate maintained for type “M”

c. exchange rate maintained for type “G”

d. there is no default exchange rate type

85. Which of the following is an application of reference and simulation costing?

a. To calculate a simulated product without material master

b. To create a material costing for simulation purposes

c. To update the standard price of a reference material

d. To calculate a price for an internal activity

86. You want to perform results analysis on sales orders and need to use two different methods to reflect different accounting principles such as US-GAAP and IFRS. How do you achieve this?

a. Use two results analysis versions defined in customizing

b. Use two separate sales order items

c. Use two requirement classes in the sales order items

d. Use two results analysis keys in the sales order items


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