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Test your vendor lifecycle knowledge in a fast-paced competitive trivia challenge. Race against the clock and climb the leaderboard.

What penalty might the IRS levy per missing vendor W-9 information in 2025?

$0-$35 per form $60-$330 per form $50 per form Just a $50 fine to the vendor

How long should a vendor’s completed W‑9 form be kept on file for IRS audits and inquiries?

1 year 2 years 3 years 4 years Indefinitely

NetVendor’s vendor search lets property managers filter vendors by:

DEI type Compliance status Radius to worksite zip code Favorites All of the above

If a vendor’s $1 million umbrella policy simply duplicates their general liability coverage instead of extending it, what is the effective total coverage limit?

$500,000 $1 million $2 million The coverage is void

A regional manager assigns a vendor to a work order manually, outside NetVendor. The vendor has a recently expired COI and causes a property loss. Who pays for the damage?

The PMC The Vendor The Vendor’s insurance

What typically causes 3× more compliance lapses than vendor onboarding in property management operations?

Initial insurance verification errors during onboarding Missing W-9 forms at vendor setup Manual re-credentialing and renewal cycles without automation

A vendor’s W-9 is missing their EIN. What downstream issue can this cause?

The vendor’s payment could be delayed or withheld for tax compliance. The vendor’s insurance policy might be suspended. The vendor could lose preferred status with clients. The vendor’s mailing address might fail verification.

A PMC processes 1,200 vendor renewals per year manually. Each takes 15 minutes. How many work hours are lost annually?

150 hours 300 hours 350 hours 600 hours

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