GTP GTP Finance & Budget Management 2

Question 1

Which metric is most commonly used to measure the overall effectiveness of a corporate travel program's cost control?

Accepted Answer

Cost per trip

Answer

Cost per trip aggregates all travel-related expenses for a single journey, enabling consistent program benchmarking.

Question 2

A company implements a 'lowest logical airfare' (LLA) policy. What does this policy require travelers to do?

Accepted Answer

Book the cheapest fare that meets reasonable travel requirements

Answer

LLA policies balance cost savings with practical considerations such as reasonable layover times and refundability.

Question 3

When building a corporate travel budget, which factor is LEAST relevant?

Accepted Answer

Traveler's personal vacation preferences

Answer

Personal vacation preferences are not a business travel budget consideration; only business-driven factors matter.

Question 4

What is a 'dynamic pricing' model in hotel procurement, and why does it concern corporate travel managers?

Accepted Answer

Room rates fluctuate based on demand, making budget forecasting difficult

Answer

Dynamic pricing makes costs unpredictable, complicating accurate budget forecasting for corporate travel programs.

Question 5

Which payment method provides the MOST detailed transaction data to support corporate travel spend analysis?

Accepted Answer

Corporate lodge card or centrally billed account

Answer

Corporate lodge cards capture itemized data on all bookings, enabling granular spend analysis and reporting.

(GTP) Global Travel Professional Practice Test