Certified Defense Financial Manager (CDFM) Exam 1 Practice

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• The funds may be obligated and expended only for the purposes authorized in the appropriations acts or other laws. This principle is known as what?
• An over or under obligation can result in an ADA.
• Which term describes cash payments made to settle an obligation?
• Which approach is considered the bottom-up cost estimating method?
• The Internal Control reports to Congress must include a statement on the conformance of accounting systems with standards set by the Comptroller General.
• Which statement best describes the composition of the Most Efficient Organization (MEO)?
• Which term describes savings that do not result in cash savings but avoid future costs?
• Which statement about the CARD's purpose is true?
• Multi-Year Contracting is an important exception to the ___ rule?
• A Multi-year Procurement (MYP) obligates the government for how long at a time?
• Which Cost Estimating approach makes statistical inferences about Cost Estimating Relationships between costs and system characteristics?
• Fiscal Law decisions come from the Comptroller General and which other body?
• Can advance payments be made to vendors prior to work completion?
• Travel advances are counted as assets or liabilities up until they are settled?
• For which milestone review is the CARD used?
• What does a Benefit-Investment Ratio (BIR) of 1.52 indicate?
• How frequently is DoD funding reviewed?
• Which statement is accurate about FMR volumes and their topics?
• To identify DoD's financial policy manual, which document should be consulted?
• Which OMB Circular addresses Major Systems Acquisition?
• What kind of weakness crosses components in internal controls?
• Family Medical Leave Act allows up to how many weeks of what kind of leave to care for a family member?
• Which circular addresses the Performance of Commercial Activities?
• What is the long-run financial objective of DWCF?
• Which document reflects the Secretary of Defense's decisions regarding programs and funding to be included in the defense budget request to the President and Congress?
• What is the Delphi cost estimating approach?
• Which agency has final resolution authority for questionable travel claims referred to PDTATAC?
• Which law prohibits expenditures in excess of appropriations?
• What is the procedure when an Executive Branch employee receives a gift that cannot be accepted?
• Which option does NOT correctly list the phases of the Federal Budget Process?
• What financial control document is issued after the President signs the appropriation?
• What does PAR stand for and what is its purpose in relation to internal controls?
• Annual appropriations are intended for ___% obligation?
• Performance of an employee which fails to meet established performance standards in one or more critical elements. The rating requires removal from the position by reassignment, downgrade, or removal from service. This is described as which type of performance?
• Commercial bids must be at least __ % below in-house costs?
• When must the President submit the next fiscal year budget?
• The policy direction of OMB Circular A-76 is intended to:
• The authority to enter into obligations that will result in outlays is called?
• In which years are POMs submitted?
• RDT&E stands for which of the following?
• What was one effect of the 1972 EEO Act?
• Which ratio is known as the acid-test and measures immediate solvency?
• Certification of payment request from a contractor is called?
• What are the three phases of the Governmental Audit?
• Which conflict style is often described as 'Two heads are better than one'?
• What Act required the use of the USSGL?
• Where is the Feed and Forage Act codified within the United States Code?
• How many steps are in the BPI process?
• Divided spending into Discretionary and Mandatory.
• What is the policy of the US Government according to the policy guidance in OMB Circular A-76?
• To determine cost variance compare the BCWP to __ Cost of work performed.
• What are the 4 criteria for using WCFs?
• At the end of the Budget Review process, what term describes the issues that may be reviewed by the SECDEF because they have not yet been resolved?
• Who can be used in positions that do not require military incumbents by reasons of law, training, security, discipline, or combat readiness?
• 31 U.S.C. 1341, 1342, and 1517 combined are the cornerstone of which Act?
• What are the two most common annual appropriations to DoD?
• Who conducts hearings and drafts and submits the National Defense Authorization Bills that authorize programs to exist?
• In the sale or out-lease of DoD land, what percent of the proceeds may be kept by the installation commander for local use?
• RDT&E in the MDAP cost framework stands for what?
• With WCFs, incurring obligations greater than the apportioned amount must be recorded as an ADA.
• What term describes a temporary appropriations act that provides budget authority for specific ongoing activities for a specific period?
• The annual performance plan (APP) ties funding to which elements?
• Are CSRS and FERS contributions matched?
• In Earned Value Management, BCWS stands for Budgeted Cost of Work Schedule.
• BRAC-ed land may be sold. Which option correctly states this?
• Which of the following is NOT a category of PP&E?
• Who estimates MDAP expenditures for procurements and RDT&E?
• Which statute provides the Department of Defense permanent authority to offer voluntary early retirement or separation incentive pay?
• Which circular covers Management's Responsibility for Internal Control?
• Earned Value Management is a method for managing ---?
• Which article establishes the Executive Branch?
• What Act required federal wages be direct deposited?
• General, Heritage, and Stewardship are the three categories of what?
• If you receive a refund against a prior year obligation that is still available, you should ...
• Which action directly enables spending money by giving budget authority?
• Which statement about obligation and recording is true?
• Which of the following is a category of monetary benefits auditors may list?
• Which act, abbreviated as BICA, introduced budget oversight mechanisms and the CBO?
• What are the strengths of the Parametric Approach?
• Which law established the HBC, SBC, and the CBO?
• When is a Standard Comparison CA study required?
• The requirement for senior officials to file public reports of their finances and other interests outside the Government as set forth in the Ethics in Government Act of 1978 is called:
• Which document outlines the four-year planning horizon for defense?
• Which volume covers Reimbursements, with 11B for WCFs?
• Stewardship land is all land provided at no cost, regardless of current or future use. True or False?
• Which statute gives the President the authority to order to active duty Selected Reserve and Ready Reserve forces?
• President must report all deferrals to Congress.
• MILPERS stands for which of the following?
• A control deficiency, or combination of control deficiencies, that adversely affects the entity's ability to initiate, authorize, record, process, or report external financial data reliably in accordance with GAAP is called a:
• Who are the statutory advisors to the NSC?
• What statement reconciles the difference between Net Cost and Budgetary Resources statements?
• Which document confirms acceptance of goods or services before payment?
• In __ type audits, objectives are defined by the audit organization and may differ from audit to audit?
• What is the balance equation for proprietary accounting?
• Which of the following is NOT a type of federal audit?
• Which collection is used by the Disbursing Office as authority to make Government payments?
• Which Act is described by 5 CFR 1315 as requiring 'pay on time or pay interest'?
• Agreements with other government organizations for the use of government property may be executed through?
• The Family Friendly Leave Act allows up to how many hours of sick leave to be used while caring for a family member?
• If Congress fails to act on a rescission proposal, what is the outcome?
• FMFIA's purpose addresses which of the following?
• First step in a Reduction in Force (RIF) involves setting limits on organization and geographic scope. The competitive level is determined by which factors?
• Which frequency is specified for external peer reviews under GAGAS?
• BESs are reviewed by OMB/OSD in Fall and generate what?
• In the MILCON example, what is the sum of 5 and 5?
• By law, who does SECDEF submit the QDR to?
• The amount by which the Government's budget outlays exceed its budget receipts is called?
• The program period includes four planning years.
• In which phase do Agencies testify to Congress regarding their budget requests?
• What does CAE stand for in the DoD acquisition context?
• The term for a legislative proposal of a general nature introduced by a member of Congress, which is reviewed by the President for approval into law or veto, is called?
• Which term represents funds collected by the government and deposited to the Treasury from various sources?
• What category of WCF is primarily financed by reimbursements from customers' appropriated accounts?
• Which of the following is NOT a requirement to entering into a MYP?
• A bill that has passed the House and Senate in identical form to be sent to the President for action is called what?
• Which of the following is not a benefit category for estimating benefits?
• Which three major ways are used to examine Life Cycle Costs?
• What is the maximum contract length for severable services that can cross a fiscal year?
• The Prompt Payment Act is codified in which Title and section?
• A no-year appropriation is deemed closed when no disbursement occurs for how many full fiscal years?
• What document provides guidance to Components for the preparation of their POM and BES submissions?
• How often and when does OSD submit funds to OMB for funds, and what form is used?
• Appointed Approving Officials (AOs) who are appointed in writing are pecuniarily liable at 100% for the information they provided that led to certification. This statement is:
• Where are the details of the Feed and Forage Act found?
• The Federal Managers' Financial Integrity Act addresses which objective?
• How many merit principles are defined by Title 5 of the United States Code?
• Another primary point of the Full Funding Policy states that the Military cannot fund more than what the contractor can deliver in a 12 month period.
• What accounting system is growing in importance with the rise of performance based budgeting and reporting?
• Which of the following best represents an objective of Economical Value Management?
• Which term describes a temporary assignment to a different position with no change in grade or pay lasting up to one year in 120-day increments?
• If the full five-year cost can be obligated in year one under multi-year contracting, what does policy generally require?
• How many steps are in the Benchmarking process?
• Who performs Independent Cost Estimates (ICE) for major DoD acquisitions?
• Which statement best describes the relationship between apportionments and allotments?
• Which of the following are types of collections for property sold or services rendered to the public or to another Federal Agency?
• WBS is an acronym for which term?
• Comptroller certification to the Contracting Officer stating that funds are available and are certified for purpose, time, and amount is called?
• Temporary Warrants are issued under a Continuing Resolution
• Which document preceded the Constitution as its precursor?
• Which document is used to monitor budget execution and report on budget execution?
• Gifts directed to the United States are always permissible for acceptance by agencies, regardless of the situation.
• Which ratio measures liquidity using only the most liquid current assets (cash and receivables)?
• After two letters are sent and no response, the uncollected debt is referred to DFAS for action when the amount reaches what threshold?
• Which of the following is a type of negotiated contract?
• In the GAO Red Book, which is one main principle of use of funds?
• The proceeds retained for local use are intended for which purpose?
• Which term describes a workforce action that reduces staff due to lack of work, funding, insufficient personnel, reorganization, or rights restoration, with potential furloughs for more than 30 calendar days or more than 22 discontinuous days?
• The authority for M accounts or Merge Accounts were phased out over three years starting with the NDAA of which year?
• A no-year appropriation closes after no disbursement for how many complete fiscal years?
• The maximum time off award allowed in one year is described as two 40 hour pay periods, non-consecutive. In which unit is this time measured?
• What goes on the IPL?
• Which committee is appointed to resolve differences between bills approved in both the House and Senate, and is often referred to as the third chamber of Congress?
• What law governs spending from the Treasury?
• Which volume of the FMR contains general accounting policy and procedures?
• Which event triggers recording of FX fluctuation changes made via WCFs?
• In a negatively skewed distribution, which description correctly identifies the tail?
• Which item is included among the first four steps to an EA?
• O&M and ____ are expense appropriations?
• Advance Procurement is an exception to what principle?
• The 1950 Accounting and Auditing Procedures Act required apportionment and allocation systems and expanded the ___ Act and required reporting?
• When does OMB/OSD negotiate apportionment?
• What are the three parts/criteria of the APP?
• Which statute provides the primary control Congress has over the Executive Branch?
• When General and Specific statutes conflict which supersedes?
• Competition A-76 enhances? (economy, quality, and productivity)
• In a Reduction in Force, the competitive level is determined by which factors?
• Administrative reservation of funds based on firm procurement requests, orders, directives, and equivalent instruments is called?
• Intent is considered in determining whether an ADA took place.
• A correlation of 1 indicates what?
• GAO’s guidance indicates contractor replacement after default should occur within how many days?
• The policy's implication about central funding for sale proceeds is that they are always deposited in central funds.
• A Disbursing Station Symbol Number (DSSN) represents which term?
• Which Merit Principle addresses using the Federal work force efficiently and effectively?
• The disposal policy indicates that a portion of the proceeds is retained at what level?
• A Direct Conversion type of CA study is done when how many employees are under review?
• Which of the following is also a correct representation of the FMFIA auditor requirements?
• Spending that is controlled by laws other than appropriations acts (including entitlement programs and the food stamp program) is known as?
• What are the three major elements of PPBE?
• Which option correctly names the disposal method for DoD land?
• Fall budget review decisions are recorded in what system?
• The Electronic Data Access (EDA) provides world-wide access to what?
• Which official designated DFAS as the principal DoD finance agency?
• Heritage assets are never recorded on the USSGL. True or False?
• Which term defines a government contract for a service where something useful is received immediately upon expenditure of funds or by the end of the fiscal year, and the contract may cross fiscal years as long as it does not exceed 12 months?
• Which term describes a bill that has passed one chamber?
• Which of the following is an example of Control Activities?
• Which of the following is not one of the three consolidated federal financial reports?
• Under PL 104-106 of 1996, Certification equals which two concepts?
• What are the two Financial Reporting Deficiencies?
• What is the maximum recommended number of players on a BPI team?
• The 1982 FMFIA required agencies to report any aspects of their accounting systems not conforming to ___ principles and standards.
• Which statement best describes the Engineering approach's strengths and weaknesses?
• What does the Constitution define as the fundamental law of the United States government?
• Which principle expresses that government must be confined to the rule of law?
• What is the term used when Congress is adjourned and the President fails to sign a bill within the 10-day period?
• What graphs are used to represent Frequency Distribution?
• The Federal Managers' Financial Integrity Act of 1982 prevents ___ & assures ____?
• The bill that has passed one body is called what?
• The number of personnel in, or projected to be in, an organization or account at a specified point in time is called which term?
• Which fund category is used for programs of a business-type operation, usually with the public?
• Which circular covers Preparation & Submission of Budget Estimates?
• The Benchmarking process consists of how many steps?
• What three things are required from auditors according to the FMFIA?
• Which of the following is not one of the four general standards of GAGAS?
• Which complaint category is filed by an employee within 45 days regarding discrimination, with the investigator having 30 days to work the case (extendable to 90)?
• What is the term for the action that removes an employee from participating in a matter to avoid a conflict of interest?
• Which of the following statements accurately describes the four criteria for using WCFs?
• Which statement about ADA and obligation is correct?
• Industrial fund and stock fund support is from which appropriation?
• The Economic Analysis explores __ methods for achieving objectives and anticipated results of each. It should be updated when?
• For Working Capital Funds (WCFs), what is the Current Ratio formula?
• Which is the second phase of the Federal Budget Process?
• Which term describes the legal reservation of funds based on the amount of orders placed, contracts awarded, services received, and similar transactions during an accounting period that will require payment during the same or future periods?
• How many prohibited practices are defined by Title 5 of the United States Code?
• Which of the following is a Merit Principle?
• Which statement best describes cost estimates in relation to qualitative information?
• How is Range calculated?
• Designated Disbursing Officers within DoD are agents of which U.S. entity?
• ACAT 1A programs are MAISs.
• Procurement and MILCON are considered ___ appropriations?
• What is the PV Factor formula for a 3-year project with a Discount Rate of 4.2%?
• Whom should the report of an ADA be submitted to?
• Which act allows you to legally over-obligate but does not allow over-obligation for MILPERS or MILCON?
• What three agencies established the FASAB and most affect the decisions of DoD financial managers?
• What must be done with unused funds at expiration of appropriation for Economy Act Orders?
• Which office is responsible for scorekeeping by estimating the budgetary effects of proposed legislation?
• Which kinds of changes constitute a change in scope?
• The program period includes __
• GAO internal control standards include which components?
• Which element includes a statement about uncorrected weaknesses in CY and PY and plans to correct?
• Which Act requires annual performance plans and reports?
• The regulatory basis for Economic Analysis is?
• The FYDP is updated twice in even-numbered years due to the POM and BES submissions and the President's Budget.
• According to the 1980 GAO study on EEO complaints, what is the average cost of an EEO complaint?
• What is the maximum amount of time off award allowed a civilian employee in one year?
• Which statement best describes sensitivity analysis in EA?
• Established discretionary spending limits on annual appropriations and 'pay-as-you-go' on any spending outside of appropriations that would increase the deficit
• Who writes POMs?
• Which article lays out the rules for the Judicial Branch?
• Budget amendments and supplementals: true statement.
• Which phase is associated with identifying the types of benefits that may be monetary or non-monetary?
• Under the Articles of Confederation, amending required what level of approval?
• If savings identified during an audit are cost avoidance from pre-programming, which aspect of program costs may be claimed?
• Under FMFIA, how often must an agency report findings of internal control?
• Which body in Congress has the sole authority to originate revenue bills?
• The regulatory basis for Economic Analysis is which regulation?
• Which act introduced a framework for budget enforcement by separating discretionary and mandatory spending and including PAYGO?
• Which statement describes a weakness of the Actual Cost approach?
• The principle behind separating powers among the three branches was to prevent tyranny by distributing power. Which option expresses this idea?
• Voucher numbers are assigned ___ at the beginning of each fiscal year?
• BRAC land retention rule: which statement is correct?
• Peacetime Strength refers to which concept?
• Who makes the final determination if a weakness is material or not?
• MilPers is an annual appropriation category used by DoD.
• Procurement is a three-year appropriation common to DoD.
• Other than appropriations and authorizations, where are purpose restrictions found?
• DoDD 1100.4 provides guidance for which area?
• Which term describes funds that are unallotted after apportionment?
• In the government balance sheet equation, which term represents the residual interest after liabilities are deducted?
• DoD must submit annually a Stmt of Assurance for what three things?
• Which acronym represents the five GAO internal control standards?
• Where must the Disbursing Station Symbol Number (DSSN) appear?
• Which statement best describes what the Most Efficient Organization (MEO) may include?
• Under what condition can a Treasury check be paid after it has become non-negotiable?
• Which element includes the statement on weaknesses corrected in the CY including those identified in PYs?
• Form used by OSD and other agencies to request apportionment quarterly
• OSD must request apportionment under CRs.
• Which branch is responsible for executing apportionment, allotment, and allocation?
• Which of the following is not a form of Budget Authority?
• What is the correct flow of funds after the Appropriations bill is signed into law?
• What is the formula for the learning curve rate?
• Which three items are included on the Annual Statement of Assurance?
• After how many letters does a debt owed by an employee become eligible for offsetting collection?
• Where should an ADA report be submitted to?
• The Economy Act is codified in which Title and sections?
• Relief is available for the loss or miscertification of funds.
• Are NAF separate and apart from the funds recorded in the books of Treasury?
• Which organization has operational control of military forces?
• In parametric cost estimating, CER stands for what?
• Which statement correctly describes the adjustment of allotments?
• The Actual Cost approach uses which type of data?
• Which volume would you consult for Administrative Control of Funds related to ADA violations?
• Which description defines a weakness that crosses components?
• Economic Analysis should be updated when which factor changes?
• GPRA requires the budget process to be driven by what?
• Which statement is true about cost avoidance savings identified at pre-programming?
• What are the three criteria for classification as general PP&E?
• The joint explanatory statement includes the estimated allocation of the budget total; this is developed from which budget mechanism?
• What does EFT stand for in government payments?
• Which mechanism provides budget authority for ongoing activities for a limited period and can extend into the next session?
• At what threshold is a single written letter of indebtedness sent to vendors?
• Which category of contract involves bidding by vendors without negotiation?
• ADA stands for which Act?
• What completes the Programming Phase?
• BIR stands for what?
• Which Accounting Standards Board provides standards for the Federal Government?
• If you receive a refund against a prior year obligation that is expired but not cancelled you ...
• Public Enterprise Funds are used for what type of activities?
• The FYDP summarizes programs approved by which official?
• What percent of the population is within +/- 1, 2, and 3 standard deviations in a normal distribution?
• Who prepares the Concurrent Budget Resolution?
• Disparate Treatment versus Adverse Impact: Which statement correctly describes their meanings?
• Which document contains the results of the OMB budget review that can change funding for individual programs and may be appealed?
• MIL-STD HDBK 881B defines the process for which of the following?
• Resources used by the Federal Government to pay its bills; primarily from individual income taxes.
• Non-appropriated funds are government funds and they do receive which type of support?
• The USSGL stands for which of the following?
• Under which policy can an employee use up to 104 hours of sick leave to care for a family member?
• For disbursements exceeding 500 million, how many days notice?
• Cost estimates are stated in ___ value terms.
• What kind of funds are receipts not earmarked such as almost all income tax receipts?
• When is the APP submitted?
• The retention policy applies to which items?
• Which phase is responsible for detailing the allocation of resources?
• What kinds of funds are revolving funds and are used for programs of a business-type operation, usually with the public?
• Present value concepts are used to express costs in terms of what?
• Which Merit Principle concerns correcting or separating poor performers?
• The APR is a component of which broader report?
• The Budget and Accounting Act created which agencies for the President and Congress respectively?
• What term is defined as the use of public office for personal gain; use of Government property for other-than-authorized purposes; and misuse of official time?
• What automated database summarizes all forces, resources, and equipment associated with programs approved by the SECDEF?
• Which gifts does DoD not require prior approval to accept?
• What organization is abbreviated GAO, responsible for auditing government programs?
• Which policy category is associated with using new technology soon?
• At which milestone does a program officially start, defined as the point of transition between Concept and Tech Development and System Development and Demonstration?
• Which conflict style involves the parties confronting the issue directly and using problem-solving techniques to resolve it, and is least used but probably most effective?
• The requirement to only obligate for the material requirements of the period of fund availability.
• In a negatively skewed distribution, where is the tail and where is the bulk of data?
• What does a correlation coefficient of 0 indicate?
• Which volume is matched with Budget Formulation and Presentation?
• The EA process employs two principles. Which statement best describes them?
• Which section of Article I grants Congress the power to levy taxes and establish District Courts?
• Which statement best describes a Performance Work Statement?
• Which DoD budgeting process ensures that the best allocation of resources to Combatant Commanders within resource limits?
• The GMRA stands for which act?
• During apportionment, who approves the distribution of funds into time periods, activities, or projects?
• On what day basis is military member pay calculated?
• Which CFO Act audit is required by the 1990 CFO Act?
• The CPA is used to survey and assess the recommendations of which group?
• Which cost estimating approach relies on detailed engineering data and product/process specifics?
• The period during which budgetary resources may incur new obligations is different from the period during which funds may be used to incur expenditures. Which term best describes this timing concept?
• Which cost estimating approach uses statistical relationships between cost and driving factors like size?
• What are two ways to issue an obligation?
• Which of the following is not one of the listed conditions for advance payments to vendors?
• The statement of assurance has what 4 elements?
• What is the primary no-year fund?
• What is the three-word term used to document the cost, schedule, and performance objectives and thresholds for an acquisition program?
• BRAC-ed land sale: The statement 'BRAC-ed land can also be sold and 50% of the proceeds retained by the installation Commander' is:
• What is the ADA Time statute?
• What are the three choices for the Statement of Assurance?
• On which federal financial report would you look to see what the DoD's gross cost and earned revenue was?
• What does CARD stand for?
• In which phase are monetary and non-monetary benefits identified?
• Since when and by what Act is the President required to submit a budget to Congress?
• The precursor to the United States Constitution is the Articles of Confederation. In what year was this precursor ratified?
• An amount recorded as an obligation that exceeds the appropriation is ___ evidence of an ADA violation but is not ___ because it could have been over recorded and once adjusted it may not be an over-obligation but is still an ADA.
• Which of the following is NOT one of the six steps in the BPI process?
• Which competency area covers Management's Responsibility for Internal Control?
• Which circular addresses internal control responsibilities?
• The DoD Civilian Work Force is defined as which group?
• Which term describes services that cannot be separated into increments that provide something useful at the end of the fiscal year, requiring the government to obligate the entire amount at the outset to achieve the intended ends?
• Which items are commonly funded by Non-Appropriated Funds (NAF)?
• What is the fifth overarching policy described for DoD acquisition programs?
• The SLRG also reviews program execution.
• Which arrangement involves a temporary assignment to a different position with no change in grade or pay, where the employee does not need to be specifically qualified for the higher grades, lasting up to one year in increments of 120 days?
• Which instrument addresses matters affecting the operation of the House and Senate?
• Cost estimates must include the costs of alternatives for how many years out?
• Which statement best describes GPRA's impact on budgeting?
• Which directive implements FMFIA within the Executive Branch and provides guidance to Federal managers on improving accountability and effectiveness by establishing, assessing, correcting, and reporting on internal control?
• Any irregularity in the financial accountability of a DO's account is considered 'out of balance'.
• Which of the following is a form of Budget Authority?
• Which statute is the Bona Fide Needs Rule associated with?
• What is the ultimate objective of PPBE?
• Which statement is true about outsourcing?
• The APR is submitted by whom to whom, and when?
• Which document is commonly referred to as the Red Book?
• Accepting voluntary services is governed under what law?
• Which option best describes the category of appropriation for mandatory spending or entitlements?
• The acronym DWCF stands for which fund?
• What are the common measures of dispersion?
• OSD PA&E develops fiscal guidance to support the JPG.
• SFFAS No. 4 defines ___ as the process of accumulating, measuring, analyzing, interpreting and reporting costs.
• In land disposal, the proceeds retained for local use are intended for which purpose?
• All three federal financial reports show data for what years?
• What is the tax rate range for one-time civilian payments?
• The balance sheet shows all liabilities for Social Security and Medicare.
• Which statement about maintaining an audit trail in cost estimating is true?
• In the flow of funds, which step comes immediately after Commitment?
• What does the 1991 Civil Rights Act provide?
• Which two types of tools help analyze the allocation of scarce resources?
• What is the principal forum for considering national security and foreign policy?
• Which statement best summarizes the land disposal policy?
• Heads of DoD Components must submit Statements of Assurance to the SECDEF by when?
• PPBE was initiated by which official, and in which decade?
• Which of the following is NOT listed as a potential data source for cost estimating?
• Regarding BRAC land sales, which statement is correct?
• Which concern about the use of funds is addressed by statutes such as 31 U.S.C. 3302, 31 U.S.C. 1301(a), and 18 U.S.C. 209?
• Which statement best describes a strength of the Actual Cost approach?
• O&M funding covers which of the following functions?
• SFFAS #4 contains the Government's accounting ___?
• A legislative proposal similar to a bill, often used to amend the Constitution, and that can originate in either the House or Senate and must be reviewed by the President the same as a bill, is called?
• Which OMB Circular deals with Prep and Submission of BESs?
• GPRA mandates include strategic planning, annual performance planning, and the Performance Accountability Report due by November 15. Which option correctly describes these elements?
• Which office is responsible for the apportionment of funds after appropriation?
• Which financial statement is described as obligation-based?
• Which volume of the FMR covers Travel?
• What is the minimum CPE hours that must be completed in any one year?
• Undistributed disbursements are placed in what kind of account?
• GPRA is also known as which Act?
• What is the primary purpose of a contract in the vendor payment process?
• The acronym ADA stands for which act?
• Which document serves as the authority for the Disbursing Office to make government payments?
• Disbursing MILPAY (including retirement) must provide how many days notice?
• Which of the following best defines NOR and AOR?
• Which types of risk are controlled in acquisition management?
• What are the two 5 year appropriations most common to DoD?
• What are the funds in a petty cash account called?
• What category of WCF deals with trading inventory for funds reimbursement?
• The Federal Budget is the _____ Budget.
• Which statement best reflects the Merit Principle related to properly classifying jobs and recognizing excellence?
• Which option is NOT a core concept of 5 CFR 2635?
• In which years is the FYDP updated twice?
• Which OMB Circular covers Commercial Activities?
• Which Act is known as the Federal Activities Inventory Reform Act of 1998?
• Which term describes the comparison of an employee's performance of duties and responsibilities with established performance standards?
• Which report would you consult to review a department's gross costs and earned revenues?
• Which volume of the FMR covers Reimbursements (with 11B for WCFs)?
• Which term best describes the funds that flow through intra-governmental operations?
• The Debt Collection Improvement Act of 1996 required what?
• When in internal control, it is a reportable condition, or combination of reportable conditions, that results in more than a remote likelihood that a material misstatement of the financial statements, or other significant financial reports, will not be prevented or detected. This is called:
• Which remedy requires turning all conflicting assets over to an independent manager and must be approved prior to execution?
• What kind of funds are tied directly to receipts, or earmarked for special purposes?
• A U.S. Treasury check is payable for how long before it becomes non-negotiable?
• MilCon relates to which type of account?
• What is the budgeting equation for Budgetary Accounting?
• Which of the following is not part of the GAO internal control standards?
• A streamlined CA study is conducted if how many employees are affected?
• What are the two main categories of contracts?
• Which term refers to the Government's in-house organization to perform a commercial activity, may include a mix of Federal employees and contract support, and is the basis for all Government costs entered on the Cost Comparison Form?
• Training tends to be severable or non-severable?
• Which accounting tracks the expenditure of Government funds?
• Amending the Articles of Confederation required what level of approval?
• Which collection category pertains to a payment made to a vendor for goods or services?
• All federal audits are initiated and conducted by which authority?
• Which remedy involves the employee selling assets to comply with ethics program requirements and provides for deferral of capital gains taxes?
• Which conflict style retreats or withdraws from a conflict and does not resolve it?
• Which FMR volume addresses Reimbursables?
• What term describes an increase in grade and/or pay for a limited period, requiring minimum qualifications, with a maximum duration of 1 year plus a possible extension, and a competitive process if extended beyond 120 days?
• What are the two primary documents used to obligate budget authority?
• An agency does not need approval to accept a gift when
• If comp time is not used within 26 pay periods or by separation/retirement, what happens?
• Which GAO publication implements FASAB policies?
• Which term describes the process to address discrimination complaints within the organization?
• Who is responsible for Internal Controls?
• Who requires the P.A.R.T. and from whom?
• What is the three prong purpose test?
• Who conducts hearings and draft and submit the Appropriations Bills that provide budget authority for the Government?
• Which conflict style emphasizes agreement and the approach described as 'Kill them with kindness'?
• In the BPI process, which activity is a core step to understand current operations?
• What is the fourth stage of the federal budget process?
• What is the primary purpose of a DoD Analysis of Alternatives (AoA) in budgeting?
• IPAC stands for which of the following?
• Which system enables intra-governmental transfers and collections?
• If 'not to exceed' is stated on an appropriation, money can be transferred in from general appropriations but no money can be transferred out. Which statement best describes this rule?
• Which of the following is NOT one of the four elements of the Statement of Assurance?
• What four things are required for payments to vendors and what may occur simultaneously?
• A statement about vendor payment documentation: which is true?
• Which statement is true regarding Budget Authority as discussed in the material?
• Which act guides the DoD to publicly report its internal control evaluations?
• Exists when the design or operation of a control does not allow management or employees to prevent or detect misstatements on a timely basis. Which term is described?
• Which cost estimating approach uses historical information to guide estimates for similar projects?
• How many components are in the GAO internal control standards?
• Which term describes a payment returned to the payer due to an error?
• If the Cert. Officer's second review is unsatisfactory, to what agency does the traveler submit the doubtful claim?
• Which title contains the Economy Act provisions including sections 1535-1536?
• President need not request rescissions?
• Defined as the maximum allowed for obligations and expenditures established in law.
• Remedy to conflict of interest that involves the employee not participating in a matter that could affect the employee's financial interest.
• Which item is NOT considered part of GPRA's mandated components?
• Which statement is NOT accurate about the sale or out-lease of DoD land?
• Which statute is most commonly violated in ADA cases?
• The act that requires ongoing evaluations and reports on internal control in Executive agencies is:
• DoD agencies may perform work for other agencies only if which condition applies?
• In PPBE, which phase is primarily responsible for translating the strategic plan into a prioritized set of programs?
• The essential principle of the Constitution is that government must be confined to the rule of law. Which option states this idea most clearly?
• What is the official OSD record of BESs as adjusted by SECDEF?
• Which Merit Principle protects employees from improper political influence?
• What are the three objectives of OMB Circ. A-76?
• What does P.A.R.T. stand for?
• Which of the following is NOT included in the acquisition value of general PP&E?
• True or False: All data in the three federal financial reports are presented for past and current years.
• Which statement best describes the relationship between O&M appropriations and the industrial fund?
• Which term describes the end-of-fiscal-year strength for active forces, the Selected Reserve, and appropriated-fund civilian employees?
• Legal reservation of funds based on the amount of orders placed, contracts awarded, services received, and similar transactions during an accounting period that will require payment during the same or future periods is called?
• What does WCF stand for?
• Which phase comes last in the Governmental Audit process?
• Who is the DoD Chief Financial Officer responsible for formulating DoD-wide financial management policies and directing the DFAS?
• Which circular deals with Financial Reporting Requirements?
• In the Current Ratio calculation for WCFs, what does the term 'current' refer to?
• Which FMR volume covers Budget Formulation and Presentation?
• Which instrument addresses matters affecting the operation of a single chamber and does not require Presidential action?
• The term DoD Civilian Work Force is defined as which group?
• What is it called when the President postpones use of appropriated funds?
• A consolidated PAR is prepared for which scope?
• Which of the following is the correct trio of processes that occur during the Congressional Action Phase?
• What are the two types of Performance Audits?
• Who chairs the SLRG?
• The Statement of Net Cost uses which accounting basis?
• Which organization is associated with the 100-day replacement guideline?
• Which kinds of appropriations do not expire?
• DWCF or revolving funds evolved from what two distinct categories?
• A condition, or combination of conditions, that results in more than a remote likelihood that material misstatements of financial statements will not be prevented or detected is called:
• Doubtful Claims are when the ___ questions the claim.
• What cost threshold triggers the need for an Economic Analysis?
• The BFN does not allow for current-year funding when delivery will be in the next fiscal year.
• What three processes occur during the Congressional Action Phase?
• Which remedy to a conflict of interest is granted when the conflicting financial interest is not substantial and permission is provided by an authorized official?
• Which category of appropriation is typically used for entitlement programs?
• Which Accounting Standards Board is associated with government sector standards?
• What does the Performance Work Statement primarily identify and serve as?
• Materiality or effectiveness is NOT considered when developing a plan for an audit, true or false?
• Which term is not part of the fundamental components in the Government Balance Sheet Equation?
• When should a deficiency be reported?
• CRs typically require funds to be obligated at the current rate of operations. The current rate refers to which?
• Which option lists Phase 1 as the phase governed by OMB A-11 and the phase where organizations start drafts as early as 21 months prior to the FY in which it will be executed?
• All unliquidated obligations and expired budget authority are canceled and deposited into Miscellaneous Receipts at the end of which period after the appropriation year expires?
• Which type of proposal addresses matters that affect the operation of both the House and Senate and does not go to the President for action?
• Which of the following would not be part of the three components in Federal accounting?
• Obligations and expenditures may not exceed the amounts established in law. This constraint is described by which budget dimension?
• What is the SLRG and who is it made up of?
• According to OMB Circular A-76, one approach to improving government efficiency is?
• Budget Execution is documented in which FMR Volume?
• FMR Vol 3 is responsible for which aspect?
• Which period corresponds to the Fall Review?
• What is the primary purpose of the National Security Strategy produced by the NSC?
• What is the purpose of a continuing resolution?
• The President's request to defer budgetary resources through apportionment temporarily is called?
• Which article sets forth the responsibility of the branch that interprets and applies laws?
• Which agency issues the standards for internal controls?
• The programming phase costs out force objectives.
• Program and Budget schedules will state __ year costs.
• MILCON falls under which type of appropriation?
• Who is the Chair of the NSC?
• Vendor payments must be supported by four documents. Which of the following is among them?
• Currently intra-governmental collections are accomplished using which system?
• The example 5+5=10 is associated with which category?
• When a change in scope requires more funding to the contract, from which year will the funds be drawn?
• Which OMB Circular is associated with the Management and Accountability Act?
• Fast Pay strives to make payment within how many days after receipt of invoice?
• Which cost estimating approach requires detailed and extensive knowledge of the product or process?
• Which trio of descriptors correctly characterizes evidence in the REVIEW phase?
• Imprest funds are best described as
• Which act requires the head of each Executive agency to submit to the Director of OMB a list of activities performed by Federal Government sources that are not inherently governmental?
• What can override a Presidential veto of a bill?
• What percent of salary contribution under CSRS and FERS?
• Defined as the period during which budgetary resources may be used to incur new obligations.
• If an asset costs $25,000, how is it recorded?
• What is the primary role of the DFAS in relation to DoD finances?
• What is DOPMA, what did it do?
• Which statement about training in relation to severability is true?
• On which federal financial report would you look to see how much Individual Income Tax was as a percent of all revenues?
• Is the JPG fiscally constrained?
• What are the three types of audits?
• All details over how many days must be documented?
• Which spending category has budget authority from the 12 annual appropriations bills?
• Which of the following is NOT an annual appropriation?
• Who submits BESs?
• Decisions made by the CG are considered what type of law?
• EA are rarely the sole basis for approval or disapproval.
• During May through June in the Budget Formulation Phase, what does the OMB do?
• The Antideficiency Act is contained in which Title of the United States Code?
• Of the five GAO internal control standards, which is the foundation?
• What is the equation for the statement of net costs?
• Which statement about including qualitative information in the cost estimate is correct?
• Which part of the Constitution describes the process to amend the document?
• What does PWS stand for in the context of evaluating contractor performance?
• The DoD annual reporting includes assurance on which area?
• An agency may always accept a gift presented as a gift to the U.S.
• The purpose of the Programming phase is to come up with a detailed allocation of resources through use of___
• What is used when applying these three parts: does the expenditure bear a logical relationship to the appropriation; is the expenditure prohibited by law; is the expenditure otherwise provided for.
• In multi-year appropriations, during a CR the carried over balance is not included in the spending limits of the CR: True or False?
• Which act established CFOs in specified agencies to oversee financial management?
• In WCFs context, when is ADA used?
• Which document identifies the technical, functional, and performance characteristics and serves as the scope of work for cost comparisons?
• Which certification confirms funds are available for a contract action and is issued by the Comptroller to the Contracting Officer?
• Which form is used to submit funds to the OMB?
• Which act is commonly known as Budget Control Act of 1974 that established HBC, SBC, and CBO?
• The 1994 GMRA amended the 1990 CFO Act to require what? (a consolidated, executive branch financial statement)
• The accounting system growing in importance with performance-based budgeting is called ____ accounting.
• During Budget Formulation, which period covers the OMB actions where issues are discussed with agencies and technical instructions are issued?
• All CA studies are conducted using which pay scale?
• What four items make up the DoD Security Strategy?
• What is the restriction on post-Federal employment for an Executive Branch employee who had substantial involvement in a matter while employed?
• Who is responsible for the central control and management of the FYDP?
• Which statement best describes the Bona Fide Needs Rule?
• Which statement best characterizes the Government Employee Training Act (GETA) within civil service provisions?
• What is the capital threshold for which an asset is recorded as PP&E?
• What is the difference between Cost Avoidance and Cost Savings?
• For efforts longer than 12 months but less than 18, financing may be approved for the total requirement in one FY under ___ type appropriation.
• Which of the following is included in the criteria for evaluating an activity for DCWF inclusion?
• Name the three Appropriations Subcommittees that directly affect DoD funding?
• When was the Constitution ratified?
• What is the final document of the planning phase?
• What kind of funds includes the proceeds of general borrowing?
• Which statement about stewardship land is true?
• Do no-year funds follow the Bona fide need rule?
• Which two acts govern leave for family members?
• What is required before money can be issued from the Treasury?
• Parametric estimation relies on which of the following to establish estimates?
• During which event does OSD draft PBDs?
• Distribution of an amount available for obligation and/or commitment into amounts available for specified time periods, activities, projects, or combinations as approved by OMB and the agency is called what?
• The Statement of Budgetary Resources is accrual or obligation-based?
• Which conflict style uses power and results in a win/lose outcome, with one side imposing a solution?
• What is the process called that estimates the budgetary effects of pending legislation and compares them to a baseline, performed by the Congressional Budget Office?
• Which statement best describes the learning curve relationship when production volume increases?
• Which event is described as the Fall Review during the OSD budget process?
• Which fund type is described as funds used for programs of a business-type operation, usually with the public?
• Which document confirms delivery and receipt of goods?
• Prompt Payment Act was enacted what year?
• The APP stands for what, and it is part of which framework?
• Which set of names corresponds to acquisition Phases A, B, and C?
• Payment to liquidate an obligation other than repayment of debt principal.
• The Statement of Net Costs includes accruals for retirements.
• Earned Value Management (EVM) is used for what?
• Which Merit Principle relates to effectively training and educating employees?
• The development of an estimate of the cost of Government performance of a commercial activity and comparing it to the cost of contract performance is called?
• Which is not one of the GAO internal control standards?
• What type of stop-gap appropriation has been used since the 1880s?
• What term is defined as a system of guidance, instructions, regulations, procedures, rules, or other organization instructions intended to determine the methods to carry out actions and ensure programs achieve intended results?
• Vendor Express is an ___ program?
• A certifying officer has no public funds in his/her possession: which statement is correct?
• Obligations by apportioned Working Capital Funds (WCFs) are limited to what amount?
• Which agency reports the DoD's financial position and cost of operations?
• The BFN rule is a ___ to determine when to obligate and for how much?
• CAIV is based on the principle that the best time to reduce life cycle cost is early in which process?
• Which of the following is NOT one of the five most common types of other sources of funds, other than appropriated, that resource managers may use to meet requirements?
• In the context of DoD land disposal, which term describes disposals through sale or leasing to others?
• Can an Executive Branch employee accept a gift valued at $20 or less from the same outside source (not cash)?
• Which article lays out the rules for the Legislative Branch?
• AOR stands for Accumulated Operating Result, which is the accumulated NOR over several years.
• In odd years, what is submitted instead of POMs?
• Legal reservation for which payments will be made in the future.
• ACAT is an acronym used in DoD Acquisition to denote...
• For ACAT 1 programs (MDAPs), what are the estimated expenditures in FY2000 dollars for procurements and RDT&E, as provided by the USD AT&L?
• The milestone marking the official start of a program is the transition from Concept to Tech Development and System Development and Demonstration.
• The acquisition value of a general PP&E item includes what?
• Which Circular addresses Financial Management Systems?
• The permanent cancellation of funding by request of the President (OMB) is called?
• Depot maintenance expenses are funded by which appropriation?
• Which document provides budget authority to incur obligations and to make expenditures for the Government?
• Generally speaking, can employees accept gifts associated with their position?
• The PAR includes which areas for its IC-related ratings?
• Who is responsible for recruiting, training, and equipping forces?
• The example 1+5=6 is associated with which category?
• Which element describes how the evaluation was conducted?
• Notice of a suspected ADA should be reported within how many days of discovery?
• What is the name of the form used as authority to make government payments?
• Under GPRA, the Performance Accountability Report is associated with which term?
• The 1972 EEO Act is designed to align the federal government with which act?
• Corrective action plans should be developed for __?
• What conditions must be met for advance payments to vendors?
• GAGAS requires appropriate internal quality control systems be in place and an external peer review at least once every how many years?
• Hiring and recruiting policy that ensures equal employment opportunities is known as what?
• What does the cover memo convey in the Statement of Assurance?
• Which type of accounting accounts for assets and liabilities?
• The act associated with defining the budget enforcement framework by separating discretionary and mandatory spending and PAYGO rules?
• Which statement about continuing resolutions is not true?
• Financial control document issued by the Treasury to establish amount of monies authorized to be withdrawn; basis for recording appropriations on the Treasury & DoD books.
• What document is used to evaluate if the contractor is performing as expected and is also used for cost comparisons?
• Prompt Pay mandates payment within how many days after receipt of invoice?
• Which act prohibits the President from withholding funds without sufficient reason?
• Established CFOs in specified agencies to rectify decades of mismanagement. Tasked the CFOs with overseeing financial management.
• If the last disbursement on a no-year appropriation was December 13, 2006, when would the appropriation close?
• Which DoD Instruction describes the criteria for Acquisition Categories?
• The PDM is the formal announcement of decisions made by which officials after reviewing which documents?
• In the audit REVIEW phase, auditors search for evidence that is what three qualities?
• The example 5+5=10 is associated with which category?
• At what threshold is an out-of-balance condition considered major?
• Which statement best describes the purpose of PAR within the GPRA framework?
• Budget Amendments revise estimates during ___ & Supplementals revise already ___ amounts.
• Which two variances are typically assessed in Earned Value Management?
• GPRA goals include improving internal management of the federal government?
• In government terms, which phrase defines the act of governing (discretionary exercise of Government authority) and the exercise of monetary transactions and entitlements, including policy determination and regulation?
• A proper invoice has how many items that must be found on it to be proper?
• Which term describes spending that is automatically authorized by law and not contingent on annual appropriations?
• If you reference a non-appropriations source for purpose restrictions, which term best matches?
• The example 2+5=7 is associated with which DoD program category?
• In the CRIME framework, what does the 'I' stand for?
• What kind of relief is there from an ADA violation?
• What term describes a collection of a payment made in error?
• In the REPORTING phase of governmental auditing, what are the two types of potential benefits identified?
• What happens to closed accounts that are unexecuted?
• Which Title of the USC contains Civilian Pay regulations and laws?
• At which CARD step is the Cost Analysis Requirements Description completed?
• Which body reviews/develops the PDM and who approves it?
• Under which circumstance may an agency accept voluntary services, if not expressly permissible by law?
• Which two primary documents are used to obligate budget authority?
• All financial transactions feed to what three consolidated, U.S. Government financial reports?
• All CA studies are done using the __ pay scale?
• During March through May in the Budget Formulation Phase, which occurs for the Agency?
• What is the purpose of the CJCS program assessment (CPA)?
• Which statement best reflects the Merit Principle of being fair and equitable?
• What 4 criteria are used to evaluate an activity for inclusion into a DCWF?
• In the phrase Analysis of Alternatives or AoA, what completes the blank to describe the discussion of options to meet objectives?
• Which statement about Cost Avoidance and Cost Savings is true?
• BES include budget estimates for which years?
• What document number identifies DoD's financial policy manual?
• What is the difference between outsourcing and privatization?
• What is the first legal action taken after the President signs the Appropriations bill into law?
• CAIV stands for what?
• Expressed measure of level of achievement, including quantity, quality, and timeliness, established by management for the duties and responsibilities of a position or group of positions.
• Which Title contains the Government Employees Incentives Awards Act?
• Which statement is true about the relationship between Receipt and Acceptance in the payments process?
• Which term refers to estimates transmitted to Congress that amend revised budget estimates transmitted previously and on which Congress has not completed action?
• Expenses of operational military forces and depot maintenance are funded by which appropriation?
• An obligation is officially recognized only when recorded: True or False?
• What are the two general internal control deficiencies?
• In what year did the Congressional Budget and Impoundment Control Act pass?
• What is the PV Factor for a 5-year project at a 6% discount rate?
• What is the QDR for? When prepared?
• Which cost estimating approach is based on direct comparison with historical information?
• Under Multi-Year Contracting, the full 5 year costs may be obligated in the first year?
• What three documents are used to draft the QDR?
• O&M includes minor construction up to what amount?
• Does the Bona fide need rule apply to no-year funds?
• Which of the following is the other category of monetary benefits auditors may list?
• OMB Circular addresses Major Systems Acquisition?
• In the RDT&E example, what is the sum of 2 and 5?
• Which two mechanisms are identified as ways to issue an obligation?
• Under the same provision, what is the maximum number of Selected Reserve and IRR members that can be activated at any one time?
• Which official approves the PDM?
• Who are the principal members of the National Security Council?
• Specific instances of noncompliance with 31 USC 3512 that warrant reporting to the next higher level of management and are non-financial relate to which condition?
• Under which policy can an employee take up to 12 weeks of unpaid leave to care for a family member?
• What are the most common descriptive statistics?
• Which act addresses prompt payments and is codified in Title 31, section 3902?
• What is the systematic approach to choosing the best method of allocating scarce resources to achieve a given objective?
• Which volume of the FMR covers Accounting policy/procedures?
• Which report shows the government's net position changes?
• In the GAO CRIME framework, which component corresponds to ongoing oversight to assess performance and ensure controls are operating effectively?
• Which formula expresses Net Costs of Operations?
• What is the Government's Balance Sheet Equation?
• Who evaluates and submits reports to Congress?
• Authority for annual mandatory expenditures is found in permanent statutes.
• Which act provides the legal framework for internal control in the Federal Government and requires ongoing evaluations and reports on the adequacy of internal accounting and administrative control?
• Under GAGAS, what are the standards for auditor competence?
• Which act originally mandated the Government Performance & Results Act (GPRA)?
• Which term describes the Budget Review stage where Major Budget Issues are considered?
• Agreements with non-profits or other government agencies, excluding the National Guard, that involve reimbursement must be executed with what?
• The three linking factors critical to the success of any Economical Value Management (EVM) system are:
• What does USD(C) stand for in DoD financial management?
• After BES review, which document is produced to guide funding decisions?
• Fiscal Law sources include the Constitution, Authorization and Appropriation Acts, General Statutes, and which two types of decisions?
• Which document ties funding to performance in federal planning and budgeting under GPRA?
• The President has how many days to act on a bill, excluding Sundays or holidays?
• What are the two core concepts under 5 CFR 2635?
• CAIV analyses are performed before finalization and continue throughout the process.
• The separation of powers between the three branches was designed to prevent tyranny. Which option best expresses this purpose?
• What is the three year appropriation common to DoD?
• What is the BIR formula?
• Which program consumes the most of the President's Budget?
• Which cost estimating approach is a statistical or top down approach?
• Which Act significantly changed the congressional budget process?
• The most authoritative source for the proper use of Appropriated funds is?
• Which statement is true about BES submission timing?
• Which rule requires obligating for the material requirements of the period of fund availability?
• What are the types of negotiated contracts?
• After how many days does a debt get referred to Treasury?
• Among three potential gift recipients, which category is always permissible to accept a gift?
• In PPBE, which phase translates program decisions into resource requests in appropriations format?
• For disbursements exceeding 50 million, how many days notice to FMS?
• Which rule outlines the responsibility by each agency head to ensure the training needs of the organization are identified and programs established to meet those needs?
• Entitlement must be established prior to disbursing what?
• After appropriation becomes what does DoD request and from whom?
• The requirement for internal quality control and external peer review is a characteristic of which auditing framework?
• Which of the following is a requirement to entering into a MYP?
• Costs in any Economic Analysis are __ year costs and __ value.
• Which type of statutes has precedence when both general and specific provisions apply?
• The Ethics in Government Act of 1978 requires senior officials to file public reports of their finances and other interests. This requirement is called:
• Finance can be separated into what three functions?
• The Bona Fide Needs Rule is a part of which statute?
• Acquiring the correct mix of __, __, and __, is the task of the Defense Acquisition System.
• Which budget mechanism sets the maximums for new budget authority and outlay targets, and establishes targets for the Gross National Debt, revenues, and surplus or deficit?
• Who publishes the Generally Accepted Government Auditing Standards (GAGAS)?
• The Balance Sheet shows accumulated deficits and surpluses from previous years.
• Budget authority is found in the 12 annual appropriations bills.
• General funds are or are not specifically linked to receipt accounts?
• MILPERS is an acronym for which budget category?
• Which act prohibits obligating or expending in excess of appropriations?
• Which statement best summarizes the three specific provisions of the Civil Service Reform Act that profoundly impact the appraisal system?
• Which funds commonly hold receipts not earmarked for a specific purpose?
• Which statement best describes the role of present value adjustments in EA outcomes?
• What phase of the Federal Budget Process begins with the President's signature on the appropriations bills?
• Which term matches the description 'Two heads are better than one'?
• Under GAGAS, how many hours per two-year period must be spent on CPE related to government auditing?
• Who may retain the proceeds from land sale for local use?
• The Federal accounting system includes which three systems?
• Which proposal addresses matters that affect the operation of either the House or the Senate and does not go to the President for action?
• In the flow of funds, which step comes immediately after Allotment?
• What does the Current Ratio measure?
• How often is the FYDP system updated?
• Which statement about BRAC land sales is accurate?
• What does the acronym MBI stand for in the budgeting context?
• Which of the following is a measure of dispersion?
• What funds are dedicated to a designated purpose and receive the proceeds of receipts?
• To whom is an employee not permitted to gift, excepting in certain circumstances, such as gifts valued at less than $10?
• In the context of Government Auditing Standards, which of the following is considered a monetary benefit category?
• The Federal accounting system does NOT include which of the following?
• Accounts receivables can be the result of reimbursement owed or what else?
• Which DoD document addresses Homeland Defense and Civil Support within the DoD Security Strategy?
• All appropriations are assumed to be what unless specified?
• In the flow of funds, which step comes immediately after Obligation?
• In presenting cost estimates in present value terms, where are the discount rates found?
• EVM is meant for what type of contracts?
• Who designated DFAS as the principal agency responsible for DoD finance?
• What are unalloted apportionments?
• Which committees are responsible for the National Defense Authorization Act through authorization and oversight (DoD)?
• What term describes requests transmitted to Congress to provide funds in addition to amounts already appropriated for the ongoing fiscal year?
• Which financial statement uses accrual accounting to reflect costs?
• Maximum number of discretionary allotments a military member may have?
• Which of the following is not part of the four items required for payments to vendors?
• What kind of accounting is accrual basis and captures costs and revenues and then applies them to the appropriate period?
• Which Act requires 'pay on time or pay interest'?
• What is the final phase of the PPBE process where program decisions are translated into resources in an appropriations format?
• The Defense Acquisition System is primarily about controlling which of the following?
• The requirement to use the USSGL was established by which FMFIA year?
• Among the Benchmarking steps, which item is included?
• The Constitution was ratified in June 1788. Which date is correct?
• Absorbing foreign currency fluctuations to avoid ADAs and shortfalls is accomplished by which mechanism?
• Who is responsible for the correctness in supporting documents in a payment voucher?
• Which term matches the phrase 'Might make right'?
• For former employees that do not respond to a single letter of indebtedness, the debt may be referred to whom for offsetting collections and/or what other federal agencies?
• Which act requires strategic planning, performance planning and goal setting, and performance reporting?
• To determine schedule variance you compare budgeted cost of work schedule to Budgeted cost of work ___?
• What are the two most common types of Budget Authority in DoD?
• Performance Management refers to the systematic process set by which regulation to involve employees in improving organizational effectiveness?
• Where are all revenue bills generated?
• Relief for Loss of Funds provisions are located in which Title?
• Who is responsible for developing affirmative action programs?
• CAIV emphasizes optimizing total cost by prioritizing which factor in the early design and development trade-offs?
• No funds are ever apportioned to WCFs, true or false?
• What must be submitted quarterly by Agencies to OMB?
• To whom is the Annual Statement of Assurance submitted and when?
• PAR stands for what?
• Which method uses a formal, iterative consensus from experts?
• Which term describes the process of evaluating an employee's performance by comparing it to established standards and communicating expectations?
• What is the intent of the IPL?
• Which agency can offset a debt against a tax refund?
• Which phase begins with the Congressional Action Phase?
• For what type of audit are the objectives predetermined and not defined by the audit organization, generally to attest to the reliability of information prepared by the audited organization?
• What are the six Non-Appropriated Funds (NAF) categories?
• The agencies established to influence the decisions of DoD financial managers include the following trio?
• Which statutes govern the Amount under the ADA?
• Which option best describes the funding for the industrial fund?
• CAIV involves cost to performance trade-off analyses before the operational and acquisition approaches are finalized and continually throughout the process.
• If comp time is earned by a Civilian Employee, how many days does the employee have to use it?
• The Most Efficient Organization (MEO) is described as the product of which plan and based on which statement?
• In GPRA goals for the 1993 Act, item 3 blank is completed with which term?
• Which of the following describes the conditions for replacing a contractor after default?
• DoD notification to Congress: When must it occur?
• Defined as funds that may be obligated and expended only for the purposes authorized in appropriations acts or other laws.
• The authority to enter into obligations that will result in outlays is known as?
• In the DoD Security Strategy, which component is assigned to the Chairman of the Joint Chiefs of Staff?
• Annual performance reports are submitted to which entities along with Congress?
• The CFO Act of 1990 requires which type of audit?
• Full-time Equivalent employment is defined as what?
• The DoD internal control program is established to comply with the FMFIA and uses which guidance for implementation?
• Which amount threshold triggers referral to PDTATAC for final resolution by the DoD Office of the General Counsel?
• Which CA study is used when 66 or more employees are involved?
• Under the Feed and Forage Act, you may not exceed the amount of your appropriation for which two types of appropriation level activity?
• For a within-scope change that produces a greater funding requirement, from which year will funds be drawn to meet the increased requirement?
• What year did GMRA require the consolidated, financial statement for the entire Executive Branch?
• Annual performance plans explain how what will be used?
• In the Budget Formulation Phase, January–February, what happens?
• GPRA stands for which phrase?
• In federal appropriations, which term describes the maximum allowable obligations and expenditures?
• In the SCN example, what is the sum of 5 and 5?
• Which statute governs gifts to employees?
• Which agency uses CRIME as its standards for Internal Control?
• Which act required the President to submit an annual budget to Congress, created an budget office for the President (OMB), and established the GAO?
• In the MILPERS example, what is the sum of 1 and 5?
• What are the three types of collections?
• The P.A.R.T. requirement is issued by which entity from agencies as part of the APP?
• Which certification verifies the payment request from a contractor?
• Which document provides the framework for the government-wide budget across the year?
• DWCF are designed to ___ over the long run?
• Which OMB circular implements FASAB policies?
• What must be estimated to compare alternatives in an EA?
• Which elements are typically included in the Acquisition Program Baseline?
• What concept is based on the axiom that the best time to reduce costs is early in the process of acquisition planning?
• In the government balance sheet, Net Position is described as which of the following?
• Which action describes a workforce reduction due to lack of work?
• Which statement best describes the JPG's role in planning?
• What important document comes from the NSC?
• How many forms of Budget Authority are there?
• What documents does the SLRG approve?
• Deferrals are reported to Congress by the President.
• Which term describes a bill that has passed both chambers in identical form and is ready to be sent to the President?
• GPRA goals include improving Congressional what?
• Which entity uses NPV and BIR to rank order projects of $1M or within each business area?
• Prompt Payment Act is outlined in what OMB Circular?
• What does Electronic Data Access stand for?
• When and what starts the PPBE process?
• Which system is primarily used to disburse funds to Federal Agencies?
• What kind of accounting is cash basis and concerned primarily with the legal requirement to control and manage budget authority?
• Under 10 USC 12304, how long can the President authorize activation of members of the Selected Reserve and the Individual Ready Reserve without Congressional consent?
• In managerial cost accounting, what costing method recognizes a causal relationship between work activities and costs?
• What is the Purpose statute under the ADA?
• What is the threshold for O&M procurement?
• Which of the following are types of collections deposited to the Treasury?
• The Acquisition Program Baseline should contain only the most important cost, schedule, and performance parameters.
• Which items are typically included in an ADA report?
• Which Merit Principle protects employees against reprisal for lawful actions?
• GPRA goals include 5-year strategic plans updated every 3 years. The missing word is which?
• For debts over $200, how many letters of indebtedness do Vendors get before more action is taken?
• The ___ establishes procedures for recording refunds.
• Which term is described by the phrase 'Split the difference'?
• FMR Vol 1 focuses on which domain?
• Copies of vouchers, books, records, and any other associated papers must be retained for not less than how many years and months?
• Cash payments made to liquidate an obligation.
• Which entity submits IPLs to the SECDEF and CJCS using the NDS/NMS/QDR/JPD as guidance?
• According to FMFIA who establishes guidelines for reviewing controls?
• What are the two categories of WCFs?
• When can DoD contract for non-federal auditors?
• What category of WCF involves trading services for funds?
• Which act requires affirmative action plans in federal programs?
• Which of the following is not a category of WCFs?
• The acronym BICA refers to which act?
• About how long does a standard CA study take? A streamlined?
• The CPA stands for which of the following?
• What is the term for the internal review of budget submissions from the Services and Defense Agencies that occurs with the OSD and senior OMB examiners from September to December?
• The description of separation of duties, periodic password changes, access restrictions, and separate storage of cash and sensitive documents corresponds to which internal control component?
• Higher HQ must prepare 4 letters; to which legislative positions are they addressed?
• The example 3+5=8 is associated with which category?
• DoDI 70457.7 addresses PPBE implementation in which area?
• If you obligate at the current rate of operations and Congress later appropriates a lesser amount, you are in violation of an ADA: True or False?
• Which term denotes the systematic process by which an agency involves its employees in improving organizational effectiveness, as defined by federal guidelines?
• What are the first four steps to an EA?
• Planning for disposal is part of the Acquisition Management Process. Which option correctly states this?
• The APR stands for what, and it is part of which framework?
• Which items may be added to achieve an estimate of program benefits?
• When is a CARD required?
• Which funds are characterized by being not tied to a specific revenue source but used for general government operations?
• What kind of CA study is mandatory?
• Which statement best reflects the restriction described in Article I, Section 9?
• What are the funds called that flow through intra-governmental business-type operations such as DWCFs?
• Among internal control deficiencies, which is tracked internally and which is reported?
• Which phase of the Federal Budget Process begins with the Director of the OMB and the Secretary of the Treasury appearing before Congressional budget committees to explain the basis for the proposals?
• Which statement reflects the Merit Principle of maintaining high standards?
• Which pairing is NOT correctly matched?
• When are changes made due to foreign currency fluctuations by using WCFs recorded?
• Unobligated allotments are defined as the difference between allotments and obligations.
• EA should predict political and other non-economic impact.
• The Civil Service Reform Act indicates the intent of performance appraisal is to help the employee improve job performance and become a valuable employee. What is the term for this process?
• Which program addresses special needs by group in hiring, recruiting, placing, and training?
• A Detail lasts up to one year in increments of how many days?
• Which option is NOT a common descriptive statistic?
• Which statement best describes continuing resolutions’ spending limits?
• GPRA stands for which of the following?
• Milcon is an which type of account?
• If savings identified during an audit are cost avoidance pre-programming, which portion of program costs may be claimed?
• Which term best describes the DoD process that integrates planning, programming, and budgeting?
• Which act amended GPRA in 2010?
• One primary point of the Full Funding Policy is that usable end items must be contracted for.
• Which organization publishes GAGAS?
• Cost estimating also requires maintaining an audit trail of the process.
• Which statement best describes unobligated allotments in budgeting?
• What is the restriction on post-Federal employment for an Executive Branch employee on a matter that was their official responsibility during the last year of Government service?
• What are the four general standards of GAGAS as applied to auditing agencies?
• Which gifts can the Department of Defense accept without prior approval?
• One time payments to Civilian Personnel are taxed at what rate?
• What term describes the presidential action when a bill dies because Congress adjourned during the 10-day window?
• SF-132 is the form used for which purpose?
• The Statement of Operations and Changes in Net Position shows what portion of changes to the Balance Sheet occurred in each of the two years reported.
• Which bill is prepared annually to provide budget authority to operate the entire Government, and is managed by the House and Senate Appropriations Committees?
• Which CA study is used when the affected employees are fewer than 10?
• How often does the Agency monitor financial activity?
• Which statement correctly describes the DSSN?
• In the Procurement example, what is the sum of 3 and 5?
• Which statement is true about the SLRG?
• Which statute governs gifts to employees?
• What other agencies did the Budget and Accounting Act create?
• Which pairing best matches FMR Volume 2a&b with its topic?
• Which cost estimating approach involves collecting expert opinion and redistributing it through several iterations?