Sample Questions for SAP FICO Certification Test

Q1. The organizational units of Financial Accounting are used for external reporting purposes, that is, they fulfill requirements that your business is subject to from external parties, for example, legal regulations. Which of the following Organizational units are mandatory in an ERP system with FI?

A.  Client

B.  Business Area

C.  Company code

D.  Company 

Answer: A, C

Q2. You can configure different types of Chart of Accounts in the ERP system. Some of these are:

A. Operating chart of accounts

B. Group chart of accounts

C. Country-specific chart of accounts

D. Plant specific chart of accounts

 Answer: A, B, C

Q3. The company code, business area and controlling area organizational units can be combined in a number of ways. Using these combinations you can represent organizations with different structures. Which of the following are valid combinations?

A. One Company Code can be assigned to multiple Controlling areas

B. One Controlling area can be assigned to multiple company codes

C. One business area can be assigned to multiple company codes

D. One company code can be assigned to multiple business areas

 Answer: B, C, D

Q4.  You need to assign more than one company code to one controlling area. Under what kind of a business scenario would you need to consider such a decision?

A. Cross-company code transactions that MUST be processed in a controlling area

B. Multilevel Product Cost Management across company codes

C. Representation of intercompany processes, whereby producing and delivering plant are the same.

 Answer: A, B

Q5.  Which of the following tax types does the SAP System support for calculating, posting, and correcting tax, as well as for tax reporting?

A. Tax on sales & purchases

B. Withholding Tax

C. Top Up Tax

D. Additional Tax

 Answer: A, B, D

Q6. Depending on your system’s configuration, the system can generate and post line items automatically. For which business transactions can this be done?

A. Entering a customer invoice

B. Entering Special G/L transactions

C. Posting a Vendor Payment

 Answer: A, B, C

Q7. You can add details to any automatically generated line item. For example, you can add text to a tax on sales/purchases line item.

A. True

B. False

 Answer: A

Q8. The document type is a key that is used to classify accounting documents. It is entered in the document header and applies to the whole document. Which of the following purposes are achieved by using document types?

A. Assigning document numbers

B. Posting to account types

C. Clearing line items

D. Differentiating between business transactions

 Answer: A, B, D

Q9. If you have entered an incorrect document, you can reverse it, thereby also clearing the open items. With reference to 'document reversal', which of the following are true?

A. A document can be reversed if it has no cleared items

B. Documents in MM can be reversed with a credit memo

C. If the posting period of the source document has already been closed, you have to enter a date that falls in an open posting period (for example, the current one) in the Posting date field.

 Answer: A, C

Q10. A number of periodic tasks are executed on a regular basis (daily, weekly, or monthly) in the SAP System. This process is supported by the individual components of the Schedule Manager. Which of the following are components of the Schedule Manager?

A. Flow definition

B. Scheduler

C. Monitor

D. Exception area

 Answer: A, B, C

Q11. You would like to use recurring entries for periodic transaction. Which of the following are False with reference to 'recurring entries'?

A. Posting Key, Account and Amount never change in recurring entries

B. Postings can be made periodically or on a specific date

C. Recurring documents do not require a separate number range.

 Answer: C

Q12. You are responsible for 'dunning' configuration. Which of the following is part of configuring the dunning functionality?

A. Dunning Codes

B. Dunning Items

C. Dunning areas

 Answer: C

Q13. 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 customizing settings in the R/3 system

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

 Answer: A

Q14. 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

 Answer: A,B,D

Q15. Which of the following are clearing procedures in accounts receivable?

A.  Incoming payment

B.  Down payment request

C.  Credit memo

D.  Transfer posting

 Answer: A,C,D

Q16. 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

 Answer: B

Q17. 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

 Answer: A,B,C,D

Q18. 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

 Answer: C,D

Q19. 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

 Answer: C

Q20. 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.

 Answer: A,D.