Certified Defense Financial Manager (CDFM) Exam 1 Practice

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• A Direct Conversion type of CA study is done when how many employees are under review?
• Designated Disbursing Officers within DoD are agents of which U.S. entity?
• Which three items are included on the Annual Statement of Assurance?
• SF-132 is the form used for which purpose?
• For Working Capital Funds (WCFs), what is the Current Ratio formula?
• Which three major ways are used to examine Life Cycle Costs?
• Which agency reports the DoD's financial position and cost of operations?
• What is the primary purpose of a contract in the vendor payment process?
• PPBE was initiated by which official, and in which decade?
• Which act guides the DoD to publicly report its internal control evaluations?
• Which official approves the PDM?
• Under GAGAS, how many hours per two-year period must be spent on CPE related to government auditing?
• According to the 1980 GAO study on EEO complaints, what is the average cost of an EEO complaint?
• MILPERS stands for which of the following?
• Doubtful Claims are when the ___ questions the claim.
• 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:
• What does the Constitution define as the fundamental law of the United States government?
• 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?
• Temporary Warrants are issued under a Continuing Resolution
• Which circular covers Preparation & Submission of Budget Estimates?
• After appropriation becomes what does DoD request and from whom?
• Which Act is known as the Federal Activities Inventory Reform Act of 1998?
• In what year did the Congressional Budget and Impoundment Control Act pass?
• What does PWS stand for in the context of evaluating contractor performance?
• What document provides guidance to Components for the preparation of their POM and BES submissions?
• 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?
• The requirement to only obligate for the material requirements of the period of fund availability.
• Which document ties funding to performance in federal planning and budgeting under GPRA?
• Agreements with non-profits or other government agencies, excluding the National Guard, that involve reimbursement must be executed with what?
• In a negatively skewed distribution, which description correctly identifies the tail?
• The agencies established to influence the decisions of DoD financial managers include the following trio?
• Which statute is most commonly violated in ADA cases?
• For debts over $200, how many letters of indebtedness do Vendors get before more action is taken?
• A Detail lasts up to one year in increments of how many days?
• In the MILPERS example, what is the sum of 1 and 5?
• The Budget and Accounting Act created which agencies for the President and Congress respectively?
• What phase of the Federal Budget Process begins with the President's signature on the appropriations bills?
• If savings identified during an audit are cost avoidance pre-programming, which portion of program costs may be claimed?
• In the flow of funds, which step comes immediately after Obligation?
• OSD must request apportionment under CRs.
• Which of the following is not one of the listed conditions for advance payments to vendors?
• What percent of salary contribution under CSRS and FERS?
• An 85 percent learning curve rate implies what change when production volume doubles?
• For which milestone review is the CARD used?
• Which Merit Principle concerns correcting or separating poor performers?
• An agency may always accept a gift presented as a gift to the U.S.
• Which body in Congress has the sole authority to originate revenue bills?
• The 1982 FMFIA required agencies to report any aspects of their accounting systems not conforming to ___ principles and standards.
• Which GAO publication implements FASAB policies?
• Which of the following is NOT one of the four elements of the Statement of Assurance?
• First step in a Reduction in Force (RIF) involves setting limits on organization and geographic scope. The competitive level is determined by which factors?
• Who is responsible for the central control and management of the FYDP?
• Decisions made by the CG are considered what type of law?
• Which statement best describes the role of present value adjustments in EA outcomes?
• 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?
• A certifying officer has no public funds in his/her possession: which statement is correct?
• Which type of accounting accounts for assets and liabilities?
• What is the fifth overarching policy described for DoD acquisition programs?
• When General and Specific statutes conflict which supersedes?
• Which items are commonly funded by Non-Appropriated Funds (NAF)?
• In the context of DoD land disposal, which term describes disposals through sale or leasing to others?
• What is the procedure when an Executive Branch employee receives a gift that cannot be accepted?
• The example 5+5=10 is associated with which category?
• What goes on the IPL?
• What is the formula for the learning curve rate?
• The Actual Cost approach uses which type of data?
• 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?
• When and what starts the PPBE process?
• Which term denotes the systematic process by which an agency involves its employees in improving organizational effectiveness, as defined by federal guidelines?
• Where is the Feed and Forage Act codified within the United States Code?
• All details over how many days must be documented?
• Which of the following are types of collections deposited to the Treasury?
• Which entity submits IPLs to the SECDEF and CJCS using the NDS/NMS/QDR/JPD as guidance?
• Among the Benchmarking steps, which item is included?
• Which term describes spending that is automatically authorized by law and not contingent on annual appropriations?
• On what day basis is military member pay calculated?
• OSD PA&E develops fiscal guidance to support the JPG.
• 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 certification confirms funds are available for a contract action and is issued by the Comptroller to the Contracting Officer?
• Which of the following is NOT included in the acquisition value of general PP&E?
• Whom should the report of an ADA be submitted to?
• According to OMB Circular A-76, one approach to improving government efficiency is?
• If you reference a non-appropriations source for purpose restrictions, which term best matches?
• A Multi-year Procurement (MYP) obligates the government for how long at a time?
• Performance Management refers to the systematic process set by which regulation to involve employees in improving organizational effectiveness?
• ACAT is an acronym used in DoD Acquisition to denote...
• In the flow of funds, which step comes immediately after Allotment?
• A no-year appropriation is deemed closed when no disbursement occurs for how many full fiscal years?
• What completes the Programming Phase?
• The FYDP is updated twice in even-numbered years due to the POM and BES submissions and the President's Budget.
• What is the policy of the US Government according to the policy guidance in OMB Circular A-76?
• Deferrals are reported to Congress by the President.
• How many steps are in the Benchmarking process?
• Which circular covers Management's Responsibility for Internal Control?
• 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?
• GAO internal control standards include which components?
• Fall budget review decisions are recorded in what system?
• The Most Efficient Organization (MEO) is described as the product of which plan and based on which statement?
• What concept is based on the axiom that the best time to reduce costs is early in the process of acquisition planning?
• CAIV is based on the principle that the best time to reduce life cycle cost is early in which process?
• The Acquisition Program Baseline should contain only the most important cost, schedule, and performance parameters.
• Which of the following is the other category of monetary benefits auditors may list?
• In the RDT&E example, what is the sum of 2 and 5?
• Multi-Year Contracting is an important exception to the ___ rule?
• Which agency can offset a debt against a tax refund?
• Which instrument addresses matters affecting the operation of a single chamber and does not require Presidential action?
• Which type of statutes has precedence when both general and specific provisions apply?
• In the DoD Security Strategy, which component is assigned to the Chairman of the Joint Chiefs of Staff?
• Which of the following is a form of Budget Authority?
• The acquisition value of a general PP&E item includes what?
• Which trio of descriptors correctly characterizes evidence in the REVIEW phase?
• Which statement best summarizes the land disposal policy?
• Which statement best reflects the Merit Principle of being fair and equitable?
• What is the QDR for? When prepared?
• Economic Analysis should be updated when which factor changes?
• Which branch is responsible for executing apportionment, allotment, and allocation?
• Which Circular addresses Financial Management Systems?
• What does the Current Ratio measure?
• Acquiring the correct mix of __, __, and __, is the task of the Defense Acquisition System.
• A U.S. Treasury check is payable for how long before it becomes non-negotiable?
• AOR stands for Accumulated Operating Result, which is the accumulated NOR over several years.
• What does a Benefit-Investment Ratio (BIR) of 1.52 indicate?
• Which organization publishes GAGAS?
• 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:
• Which phase is associated with identifying the types of benefits that may be monetary or non-monetary?
• Remedy to conflict of interest that involves the employee not participating in a matter that could affect the employee's financial interest.
• BES include budget estimates for which years?
• Which document is used to monitor budget execution and report on budget execution?
• Where should an ADA report be submitted to?
• Which CA study is used when the affected employees are fewer than 10?
• Which statement reflects the Merit Principle of maintaining high standards?
• What does the acronym MBI stand for in the budgeting context?
• Which law established the HBC, SBC, and the CBO?
• If the full five-year cost can be obligated in year one under multi-year contracting, what does policy generally require?
• When a change in scope requires more funding to the contract, from which year will the funds be drawn?
• What is the purpose of the CJCS program assessment (CPA)?
• Which spending category has budget authority from the 12 annual appropriations bills?
• Obligations by apportioned Working Capital Funds (WCFs) are limited to what amount?
• Which statement best reflects the Merit Principle related to properly classifying jobs and recognizing excellence?
• What does a correlation coefficient of 0 indicate?
• What is the three-word term used to document the cost, schedule, and performance objectives and thresholds for an acquisition program?
• Which statement about including qualitative information in the cost estimate is correct?
• Which term refers to estimates transmitted to Congress that amend revised budget estimates transmitted previously and on which Congress has not completed action?
• Which policy category is associated with using new technology soon?
• What are the funds in a petty cash account called?
• What is it called when the President postpones use of appropriated funds?
• Which document identifies the technical, functional, and performance characteristics and serves as the scope of work for cost comparisons?
• Which agency issues the standards for internal controls?
• Which office is responsible for the apportionment of funds after appropriation?
• The precursor to the United States Constitution is the Articles of Confederation. In what year was this precursor ratified?
• How is Range calculated?
• What is the intent of the IPL?
• SFFAS #4 contains the Government's accounting ___?
• 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?
• Administrative reservation of funds based on firm procurement requests, orders, directives, and equivalent instruments is called?
• Which conflict style is often described as 'Two heads are better than one'?
• What percent of the population is within +/- 1, 2, and 3 standard deviations in a normal distribution?
• During which event does OSD draft PBDs?
• On which federal financial report would you look to see what the DoD's gross cost and earned revenue was?
• Budget amendments and supplementals: true statement.
• What term describes the presidential action when a bill dies because Congress adjourned during the 10-day window?
• Which DoD budgeting process ensures that the best allocation of resources to Combatant Commanders within resource limits?
• Which of the following is NOT one of the six steps in the BPI process?
• The authority for M accounts or Merge Accounts were phased out over three years starting with the NDAA of which year?
• All CA studies are done using the __ pay scale?
• Which article lays out the rules for the Judicial Branch?
• The three linking factors critical to the success of any Economical Value Management (EVM) system are:
• What document is used to evaluate if the contractor is performing as expected and is also used for cost comparisons?
• Which of the following is a requirement to entering into a MYP?
• If an asset costs $25,000, how is it recorded?
• Which statement best describes cost estimates in relation to qualitative information?
• 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?
• What are the two types of Performance Audits?
• Which FMR volume addresses Reimbursables?
• What must be estimated to compare alternatives in an EA?
• Which event triggers recording of FX fluctuation changes made via WCFs?
• What 4 criteria are used to evaluate an activity for inclusion into a DCWF?
• What are the two main categories of contracts?
• Which conflict style emphasizes agreement and the approach described as 'Kill them with kindness'?
• Which entity uses NPV and BIR to rank order projects of $1M or within each business area?
• What kind of accounting is cash basis and concerned primarily with the legal requirement to control and manage budget authority?
• Which Merit Principle protects employees from improper political influence?
• Which of the following is a Merit Principle?
• Budget Amendments revise estimates during ___ & Supplementals revise already ___ amounts.
• Accepting voluntary services is governed under what law?
• What three things are required from auditors according to the FMFIA?
• The programming phase costs out force objectives.
• What is the correct flow of funds after the Appropriations bill is signed into law?
• Which term matches the phrase 'Might make right'?
• Which funds commonly hold receipts not earmarked for a specific purpose?
• The accounting system growing in importance with performance-based budgeting is called ____ accounting.
• Which volume of the FMR covers Travel?
• Agreements with other government organizations for the use of government property may be executed through?
• Spending that is controlled by laws other than appropriations acts (including entitlement programs and the food stamp program) is known as?
• Are NAF separate and apart from the funds recorded in the books of Treasury?
• During Budget Formulation, which period covers the OMB actions where issues are discussed with agencies and technical instructions are issued?
• Cost estimates must include the costs of alternatives for how many years out?
• CAIV emphasizes optimizing total cost by prioritizing which factor in the early design and development trade-offs?
• Which article sets forth the responsibility of the branch that interprets and applies laws?
• What are the two primary documents used to obligate budget authority?
• What kind of funds are tied directly to receipts, or earmarked for special purposes?
• Which document contains the results of the OMB budget review that can change funding for individual programs and may be appealed?
• What is the maximum recommended number of players on a BPI team?
• Which element includes the statement on weaknesses corrected in the CY including those identified in PYs?
• The bill that has passed one body is called what?
• What can override a Presidential veto of a bill?
• Procurement is a three-year appropriation common to DoD.
• Which statement about continuing resolutions is not true?
• O&M includes minor construction up to what amount?
• PAR stands for what?
• According to FMFIA who establishes guidelines for reviewing controls?
• What does the Performance Work Statement primarily identify and serve as?
• Which cost estimating approach is based on direct comparison with historical information?
• Family Medical Leave Act allows up to how many weeks of what kind of leave to care for a family member?
• GAGAS requires appropriate internal quality control systems be in place and an external peer review at least once every how many years?
• Heritage assets are never recorded on the USSGL. True or False?
• Which statement about the CARD's purpose is true?
• CAIV involves cost to performance trade-off analyses before the operational and acquisition approaches are finalized and continually throughout the process.
• The Ethics in Government Act of 1978 requires senior officials to file public reports of their finances and other interests. This requirement is called:
• In PPBE, which phase translates program decisions into resource requests in appropriations format?
• What is the first legal action taken after the President signs the Appropriations bill into law?
• Which title contains the Economy Act provisions including sections 1535-1536?
• What is the minimum CPE hours that must be completed in any one year?
• Depot maintenance expenses are funded by which appropriation?
• Any irregularity in the financial accountability of a DO's account is considered 'out of balance'.
• Which volume would you consult for Administrative Control of Funds related to ADA violations?
• The GMRA stands for which act?
• In the phrase Analysis of Alternatives or AoA, what completes the blank to describe the discussion of options to meet objectives?
• DoDD 1100.4 provides guidance for which area?
• Who is responsible for developing affirmative action programs?
• The example 1+5=6 is associated with which category?
• All federal audits are initiated and conducted by which authority?
• When is the APP submitted?
• 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?
• If you receive a refund against a prior year obligation that is still available, you should ...
• One primary point of the Full Funding Policy is that usable end items must be contracted for.
• In which years is the FYDP updated twice?
• What is the primary purpose of a DoD Analysis of Alternatives (AoA) in budgeting?
• RDT&E stands for which of the following?
• Which article lays out the rules for the Legislative Branch?
• Which OMB Circular deals with Prep and Submission of BESs?
• In a Reduction in Force, the competitive level is determined by which factors?
• Who conducts hearings and draft and submit the Appropriations Bills that provide budget authority for the Government?
• The BFN does not allow for current-year funding when delivery will be in the next fiscal year.
• The CFO Act of 1990 requires which type of audit?
• Which statement best describes the Bona Fide Needs Rule?
• Which statement is true about cost avoidance savings identified at pre-programming?
• Who is responsible for the correctness in supporting documents in a payment voucher?
• OMB Circular addresses Major Systems Acquisition?
• During March through May in the Budget Formulation Phase, which occurs for the Agency?
• Which of the following is NOT listed as a potential data source for cost estimating?
• Which option does NOT correctly list the phases of the Federal Budget Process?
• Who is the DoD Chief Financial Officer responsible for formulating DoD-wide financial management policies and directing the DFAS?
• No funds are ever apportioned to WCFs, true or false?
• What is the term for the action that removes an employee from participating in a matter to avoid a conflict of interest?
• What is the restriction on post-Federal employment for an Executive Branch employee who had substantial involvement in a matter while employed?
• In a negatively skewed distribution, where is the tail and where is the bulk of data?
• Which fund type is described as funds used for programs of a business-type operation, usually with the public?
• What does CAE stand for in the DoD acquisition context?
• What is the Delphi cost estimating approach?
• Established discretionary spending limits on annual appropriations and 'pay-as-you-go' on any spending outside of appropriations that would increase the deficit
• Which report shows the government's net position changes?
• Which statute is the Bona Fide Needs Rule associated with?
• What kind of weakness crosses components in internal controls?
• 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?
• Prompt Payment Act was enacted what year?
• Planning for disposal is part of the Acquisition Management Process. Which option correctly states this?
• What statement reconciles the difference between Net Cost and Budgetary Resources statements?
• What is the final phase of the PPBE process where program decisions are translated into resources in an appropriations format?
• Which act required the President to submit an annual budget to Congress, created an budget office for the President (OMB), and established the GAO?
• Which act prohibits obligating or expending in excess of appropriations?
• The PAR includes which areas for its IC-related ratings?
• CAIV analyses are performed before finalization and continue throughout the process.
• 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 pairing best matches FMR Volume 2a&b with its topic?
• If the last disbursement on a no-year appropriation was December 13, 2006, when would the appropriation close?
• For a within-scope change that produces a greater funding requirement, from which year will funds be drawn to meet the increased requirement?
• Defined as the maximum allowed for obligations and expenditures established in law.
• Which certification verifies the payment request from a contractor?
• Which statement is true about outsourcing?
• Industrial fund and stock fund support is from which appropriation?
• Which funds are characterized by being not tied to a specific revenue source but used for general government operations?
• The annual performance plan (APP) ties funding to which elements?
• What are the strengths of the Parametric Approach?
• Which competency area covers Management's Responsibility for Internal Control?
• The principle behind separating powers among the three branches was to prevent tyranny by distributing power. Which option expresses this idea?
• 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.
• GAO’s guidance indicates contractor replacement after default should occur within how many days?
• What graphs are used to represent Frequency Distribution?
• What are the two most common annual appropriations to DoD?
• 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 of the following is not part of the GAO internal control standards?
• Procurement and MILCON are considered ___ appropriations?
• The Defense Acquisition System is primarily about controlling which of the following?
• What are the first four steps to an EA?
• 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.
• Who writes POMs?
• Which Act significantly changed the congressional budget process?
• What is the name of the form used as authority to make government payments?
• Which bill is prepared annually to provide budget authority to operate the entire Government, and is managed by the House and Senate Appropriations Committees?
• In the MILCON example, what is the sum of 5 and 5?
• The statement of assurance has what 4 elements?
• FMR Vol 3 is responsible for which aspect?
• MilPers is an annual appropriation category used by DoD.
• What is the fourth stage of the federal budget process?
• DoD agencies may perform work for other agencies only if which condition applies?
• What Act required federal wages be direct deposited?
• 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?
• The DoD internal control program is established to comply with the FMFIA and uses which guidance for implementation?
• Which circular addresses the Performance of Commercial Activities?
• The BFN rule is a ___ to determine when to obligate and for how much?
• What law governs spending from the Treasury?
• Under the Articles of Confederation, amending required what level of approval?
• Which two variances are typically assessed in Earned Value Management?
• Which action describes a workforce reduction due to lack of work?
• GPRA goals include improving Congressional what?
• The program period includes __
• The retention policy applies to which items?
• Which of the following is not one of the three consolidated federal financial reports?
• The joint explanatory statement includes the estimated allocation of the budget total; this is developed from which budget mechanism?
• 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 included in the criteria for evaluating an activity for DCWF inclusion?
• Which category of appropriation is typically used for entitlement programs?
• What is the ultimate objective of PPBE?
• Which cost estimating approach requires detailed and extensive knowledge of the product or process?
• What is the primary no-year fund?
• The authority to enter into obligations that will result in outlays is known as?
• Which statement best describes unobligated allotments in budgeting?
• President must report all deferrals to Congress.
• How many steps are in the BPI process?
• Which OMB circular implements FASAB policies?
• WBS is an acronym for which term?
• BRAC-ed land may be sold. Which option correctly states this?
• Which system is primarily used to disburse funds to Federal Agencies?
• BESs are reviewed by OMB/OSD in Fall and generate what?
• During May through June in the Budget Formulation Phase, what does the OMB do?
• Which act allows you to legally over-obligate but does not allow over-obligation for MILPERS or MILCON?
• The Debt Collection Improvement Act of 1996 required what?
• Which statement best describes the JPG's role in planning?
• In the REPORTING phase of governmental auditing, what are the two types of potential benefits identified?
• What kind of funds are receipts not earmarked such as almost all income tax receipts?
• In __ type audits, objectives are defined by the audit organization and may differ from audit to audit?
• DoDI 70457.7 addresses PPBE implementation in which area?
• The USSGL stands for which of the following?
• Which items are typically included in an ADA report?
• What are the two core concepts under 5 CFR 2635?
• What is the long-run financial objective of DWCF?
• In the Procurement example, what is the sum of 3 and 5?
• What are the three parts/criteria of the APP?
• Name the three Appropriations Subcommittees that directly affect DoD funding?
• Annual performance plans explain how what will be used?
• What is the principal forum for considering national security and foreign policy?
• 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?
• Advance Procurement is an exception to what principle?
• 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 system enables intra-governmental transfers and collections?
• 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 of the following is not a benefit category for estimating benefits?
• What organization is abbreviated GAO, responsible for auditing government programs?
• To whom is an employee not permitted to gift, excepting in certain circumstances, such as gifts valued at less than $10?
• GPRA goals include improving internal management of the federal government?
• The policy's implication about central funding for sale proceeds is that they are always deposited in central funds.
• Which term describes a bill that has passed both chambers in identical form and is ready to be sent to the President?
• Fast Pay strives to make payment within how many days after receipt of invoice?
• 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?
• ADA stands for which Act?
• Expenses of operational military forces and depot maintenance are funded by which appropriation?
• Form used by OSD and other agencies to request apportionment quarterly
• Which statute gives the President the authority to order to active duty Selected Reserve and Ready Reserve forces?
• Hiring and recruiting policy that ensures equal employment opportunities is known as what?
• What is the tax rate range for one-time civilian payments?
• In WCFs context, when is ADA used?
• The most authoritative source for the proper use of Appropriated funds is?
• Who publishes the Generally Accepted Government Auditing Standards (GAGAS)?
• The Balance Sheet shows accumulated deficits and surpluses from previous years.
• The number of personnel in, or projected to be in, an organization or account at a specified point in time is called which term?
• How many prohibited practices are defined by Title 5 of the United States Code?
• What is the equation for the statement of net costs?
• Annual performance reports are submitted to which entities along with Congress?
• Which types of risk are controlled in acquisition management?
• Which statement is accurate about FMR volumes and their topics?
• The act associated with defining the budget enforcement framework by separating discretionary and mandatory spending and PAYGO rules?
• Since when and by what Act is the President required to submit a budget to Congress?
• Among three potential gift recipients, which category is always permissible to accept a gift?
• Who chairs the SLRG?
• 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?
• The permanent cancellation of funding by request of the President (OMB) is called?
• Which Title of the USC contains Civilian Pay regulations and laws?
• Which items may be added to achieve an estimate of program benefits?
• 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 cost estimating approach relies on detailed engineering data and product/process specifics?
• In parametric cost estimating, CER stands for what?
• The Economy Act is codified in which Title and sections?
• Which volume of the FMR covers Administrative Control of Funds - ADA Violations?
• A correlation of 1 indicates what?
• What funds are dedicated to a designated purpose and receive the proceeds of receipts?
• At what threshold is a single written letter of indebtedness sent to vendors?
• Which option is NOT a core concept of 5 CFR 2635?
• In the government balance sheet, Net Position is described as which of the following?
• True or False: All data in the three federal financial reports are presented for past and current years.
• Which statement correctly describes the DSSN?
• Which element describes how the evaluation was conducted?
• Which kinds of appropriations do not expire?
• CAIV stands for what?
• The Internal Control reports to Congress must include a statement on the conformance of accounting systems with standards set by the Comptroller General.
• If comp time is earned by a Civilian Employee, how many days does the employee have to use it?
• Which conflict style retreats or withdraws from a conflict and does not resolve it?
• What is DOPMA, what did it do?
• Which Act is described by 5 CFR 1315 as requiring 'pay on time or pay interest'?
• What does PAR stand for and what is its purpose in relation to internal controls?
• What is the systematic approach to choosing the best method of allocating scarce resources to achieve a given objective?
• SFFAS No. 4 defines ___ as the process of accumulating, measuring, analyzing, interpreting and reporting costs.
• Of the five GAO internal control standards, which is the foundation?
• Which CA study is used when 66 or more employees are involved?
• Can an Executive Branch employee accept a gift valued at $20 or less from the same outside source (not cash)?
• Established CFOs in specified agencies to rectify decades of mismanagement. Tasked the CFOs with overseeing financial management.
• Currently intra-governmental collections are accomplished using which system?
• Which term is not part of the fundamental components in the Government Balance Sheet Equation?
• Which statement is true regarding Budget Authority as discussed in the material?
• A Disbursing Station Symbol Number (DSSN) represents which term?
• Which term describes the process of evaluating an employee's performance by comparing it to established standards and communicating expectations?
• What is the budgeting equation for Budgetary Accounting?
• Which agency uses CRIME as its standards for Internal Control?
• Which phase comes last in the Governmental Audit process?
• Which statement about maintaining an audit trail in cost estimating is true?
• Which volume of the FMR covers Accounting policy/procedures?
• In land disposal, the proceeds retained for local use are intended for which purpose?
• How many merit principles are defined by Title 5 of the United States Code?
• Which element includes a statement about uncorrected weaknesses in CY and PY and plans to correct?
• The Antideficiency Act is contained in which Title of the United States Code?
• The CPA stands for which of the following?
• 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 Accounting Standards Board is associated with government sector standards?
• Which is the second phase of the Federal Budget Process?
• Which term best describes the funds that flow through intra-governmental operations?
• Which DoD document addresses Homeland Defense and Civil Support within the DoD Security Strategy?
• The Statement of Budgetary Resources is accrual or obligation-based?
• The 1994 GMRA amended the 1990 CFO Act to require what? (a consolidated, executive branch financial statement)
• Which OMB Circular covers Commercial Activities?
• Which is not one of the GAO internal control standards?
• Which statement best describes what the Most Efficient Organization (MEO) may include?
• Which of the following is a measure of dispersion?
• Which DoD Instruction describes the criteria for Acquisition Categories?
• Which term is described by the phrase 'Split the difference'?
• Under PL 104-106 of 1996, Certification equals which two concepts?
• How frequently is DoD funding reviewed?
• The requirement to use the USSGL was established by which FMFIA year?
• Which document preceded the Constitution as its precursor?
• What term describes requests transmitted to Congress to provide funds in addition to amounts already appropriated for the ongoing fiscal year?
• For disbursements exceeding 500 million, how many days notice?
• Which Act requires 'pay on time or pay interest'?
• What three documents are used to draft the QDR?
• Which remedy requires turning all conflicting assets over to an independent manager and must be approved prior to execution?
• Who estimates MDAP expenditures for procurements and RDT&E?
• GPRA requires the budget process to be driven by what?
• Which of the following is an example of Control Activities?
• After how many days does a debt get referred to Treasury?
• Which Act requires annual performance plans and reports?
• What term describes a temporary appropriations act that provides budget authority for specific ongoing activities for a specific period?
• The balance sheet shows all liabilities for Social Security and Medicare.
• In the Current Ratio calculation for WCFs, what does the term 'current' refer to?
• What is the PV Factor formula for a 3-year project with a Discount Rate of 4.2%?
• What are the common measures of dispersion?
• Which ratio is known as the acid-test and measures immediate solvency?
• GPRA goals include 5-year strategic plans updated every 3 years. The missing word is which?
• Under which policy can an employee take up to 12 weeks of unpaid leave to care for a family member?
• In the sale or out-lease of DoD land, what percent of the proceeds may be kept by the installation commander for local use?
• One time payments to Civilian Personnel are taxed at what rate?
• 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?
• Peacetime Strength refers to which concept?
• 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?
• The disposal policy indicates that a portion of the proceeds is retained at what level?
• Who is the Chair of the NSC?
• What is the three year appropriation common to DoD?
• A no-year appropriation closes after no disbursement for how many complete fiscal years?
• Which circular addresses internal control responsibilities?
• DoD must submit annually a Stmt of Assurance for what three things?
• What does the 1991 Civil Rights Act provide?
• Which body reviews/develops the PDM and who approves it?
• What type of stop-gap appropriation has been used since the 1880s?
• All CA studies are conducted using which pay scale?
• Are CSRS and FERS contributions matched?
• Which term describes the process to address discrimination complaints within the organization?
• Fiscal Law decisions come from the Comptroller General and which other body?
• Present value concepts are used to express costs in terms of what?
• The proceeds retained for local use are intended for which purpose?
• Which gifts can the Department of Defense accept without prior approval?
• The authority to enter into obligations that will result in outlays is called?
• Which of the following best defines NOR and AOR?
• What are the three major elements of PPBE?
• Which act established CFOs in specified agencies to oversee financial management?
• What category of WCF involves trading services for funds?
• Which cost estimating approach is a statistical or top down approach?
• 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 happens to closed accounts that are unexecuted?
• In which years are POMs submitted?
• All three federal financial reports show data for what years?
• What is the threshold for O&M procurement?
• Voucher numbers are assigned ___ at the beginning of each fiscal year?
• The Federal Managers' Financial Integrity Act of 1982 prevents ___ & assures ____?
• What does USD(C) stand for in DoD financial management?
• Which cost estimating approach uses statistical relationships between cost and driving factors like size?
• 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?
• 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:
• If savings identified during an audit are cost avoidance from pre-programming, which aspect of program costs may be claimed?
• Training tends to be severable or non-severable?
• 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?
• Higher HQ must prepare 4 letters; to which legislative positions are they addressed?
• What are the two categories of WCFs?
• The Statement of Net Costs includes accruals for retirements.
• What is the Government's Balance Sheet Equation?
• If Congress fails to act on a rescission proposal, what is the outcome?
• What kind of funds includes the proceeds of general borrowing?
• The separation of powers between the three branches was designed to prevent tyranny. Which option best expresses this purpose?
• The 1972 EEO Act is designed to align the federal government with which act?
• Which statement about obligation and recording is true?
• Which two acts govern leave for family members?
• GPRA mandates include strategic planning, annual performance planning, and the Performance Accountability Report due by November 15. Which option correctly describes these elements?
• The Prompt Payment Act is codified in which Title and section?
• Under the Feed and Forage Act, you may not exceed the amount of your appropriation for which two types of appropriation level activity?
• The acronym DWCF stands for which fund?
• To determine schedule variance you compare budgeted cost of work schedule to Budgeted cost of work ___?
• Which term describes the comparison of an employee's performance of duties and responsibilities with established performance standards?
• The regulatory basis for Economic Analysis is which regulation?
• What are the three criteria for classification as general PP&E?
• Which principle expresses that government must be confined to the rule of law?
• In the flow of funds, which step comes immediately after Commitment?
• Which instrument addresses matters affecting the operation of the House and Senate?
• The President has how many days to act on a bill, excluding Sundays or holidays?
• Which statement is true about the relationship between Receipt and Acceptance in the payments process?
• What kinds of funds are revolving funds and are used for programs of a business-type operation, usually with the public?
• How often is the FYDP system updated?
• Who makes the final determination if a weakness is material or not?
• 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?
• Which part of the Constitution describes the process to amend the document?
• Which term describes the Budget Review stage where Major Budget Issues are considered?
• The essential principle of the Constitution is that government must be confined to the rule of law. Which option states this idea most clearly?
• DWCF are designed to ___ over the long run?
• If the Cert. Officer's second review is unsatisfactory, to what agency does the traveler submit the doubtful claim?
• When are BESs submitted?
• Can advance payments be made to vendors prior to work completion?
• Under which policy can an employee use up to 104 hours of sick leave to care for a family member?
• At what threshold is an out-of-balance condition considered major?
• With WCFs, incurring obligations greater than the apportioned amount must be recorded as an ADA.
• In the Budget Formulation Phase, January–February, what happens?
• RDT&E in the MDAP cost framework stands for what?
• Which organization is associated with the 100-day replacement guideline?
• What are the most common descriptive statistics?
• Notice of a suspected ADA should be reported within how many days of discovery?
• Which option correctly names the disposal method for DoD land?
• Which document confirms acceptance of goods or services before payment?
• The example 5+5=10 is associated with which category?
• Public Enterprise Funds are used for what type of activities?
• When are changes made due to foreign currency fluctuations by using WCFs recorded?
• What are the 4 criteria for using WCFs?
• Budget authority is found in the 12 annual appropriations bills.
• Who conducts hearings and drafts and submits the National Defense Authorization Bills that authorize programs to exist?
• In odd years, what is submitted instead of POMs?
• What are the three phases of the Governmental Audit?
• The SLRG also reviews program execution.
• Which statement best describes the relationship between apportionments and allotments?
• Which act amended GPRA in 2010?
• Which statement best describes a strength of the Actual Cost approach?
• To identify DoD's financial policy manual, which document should be consulted?
• Which term describes cash payments made to settle an obligation?
• What does EFT stand for in government payments?
• Which accounting tracks the expenditure of Government funds?
• Which committees are responsible for the National Defense Authorization Act through authorization and oversight (DoD)?
• Obligations and expenditures may not exceed the amounts established in law. This constraint is described by which budget dimension?
• Which act is commonly known as Budget Control Act of 1974 that established HBC, SBC, and CBO?
• Which statement best describes the learning curve relationship when production volume increases?
• In the BPI process, which activity is a core step to understand current operations?
• What automated database summarizes all forces, resources, and equipment associated with programs approved by the SECDEF?
• Which acronym represents the five GAO internal control standards?
• What category of WCF deals with trading inventory for funds reimbursement?
• Which term describes savings that do not result in cash savings but avoid future costs?
• Which conflict style uses power and results in a win/lose outcome, with one side imposing a solution?
• Which of the following is NOT a requirement to entering into a MYP?
• Which organization has operational control of military forces?
• An over or under obligation can result in an ADA.
• Do no-year funds follow the Bona fide need rule?
• What was one effect of the 1972 EEO Act?
• The Federal accounting system does NOT include which of the following?
• Other than appropriations and authorizations, where are purpose restrictions found?
• Which FMR volume covers Budget Formulation and Presentation?
• What is the purpose of a continuing resolution?
• Which gifts does DoD not require prior approval to accept?
• Which statutes govern the Amount under the ADA?
• What Act required the use of the USSGL?
• Who are the principal members of the National Security Council?
• Cost estimating also requires maintaining an audit trail of the process.
• The amount by which the Government's budget outlays exceed its budget receipts is called?
• At which CARD step is the Cost Analysis Requirements Description completed?
• Which of the following is not a category of WCFs?
• The Federal Budget is the _____ Budget.
• Unobligated allotments are defined as the difference between allotments and obligations.
• Commercial bids must be at least __ % below in-house costs?
• What is the PV Factor for a 5-year project at a 6% discount rate?
• Earned Value Management is a method for managing ---?
• Which of the following is not a form of Budget Authority?
• Which OMB Circular addresses Major Systems Acquisition?
• General funds are or are not specifically linked to receipt accounts?
• If you receive a refund against a prior year obligation that is expired but not cancelled you ...
• 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?
• Which act addresses prompt payments and is codified in Title 31, section 3902?
• Which section of Article I grants Congress the power to levy taxes and establish District Courts?
• What does CARD stand for?
• What kind of relief is there from an ADA violation?
• Which remedy involves the employee selling assets to comply with ethics program requirements and provides for deferral of capital gains taxes?
• Which Merit Principle relates to effectively training and educating employees?
• The ___ establishes procedures for recording refunds.
• Absorbing foreign currency fluctuations to avoid ADAs and shortfalls is accomplished by which mechanism?
• Which of the following would not be part of the three components in Federal accounting?
• Defined as funds that may be obligated and expended only for the purposes authorized in appropriations acts or other laws.
• Which financial statement uses accrual accounting to reflect costs?
• When was the Constitution ratified?
• Which Merit Principle protects employees against reprisal for lawful actions?
• Which term matches the description 'Two heads are better than one'?
• Which document confirms delivery and receipt of goods?
• Which of the following is NOT a category of PP&E?
• Which ratio measures liquidity using only the most liquid current assets (cash and receivables)?
• Which report would you consult to review a department's gross costs and earned revenues?
• 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 term best describes the DoD process that integrates planning, programming, and budgeting?
• Which of the following is a category of monetary benefits auditors may list?
• What other agencies did the Budget and Accounting Act create?
• Which office is responsible for scorekeeping by estimating the budgetary effects of proposed legislation?
• What are the two general internal control deficiencies?
• Entitlement must be established prior to disbursing what?
• FMR Vol 1 focuses on which domain?
• Which volume is matched with Budget Formulation and Presentation?
• What is the maximum contract length for severable services that can cross a fiscal year?
• 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?
• The example 3+5=8 is associated with which category?
• Under which circumstance may an agency accept voluntary services, if not expressly permissible by law?
• In GPRA goals for the 1993 Act, item 3 blank is completed with which term?
• Which program protects the employee's ability to complain about discrimination on the job?
• What is the Purpose statute under the ADA?
• Copies of vouchers, books, records, and any other associated papers must be retained for not less than how many years and months?
• Which term represents funds collected by the government and deposited to the Treasury from various sources?
• CRs typically require funds to be obligated at the current rate of operations. The current rate refers to which?
• Which collection category pertains to a payment made to a vendor for goods or services?
• The milestone marking the official start of a program is the transition from Concept to Tech Development and System Development and Demonstration.
• The Family Friendly Leave Act allows up to how many hours of sick leave to be used while caring for a family member?
• Which CFO Act audit is required by the 1990 CFO Act?
• Legal reservation for which payments will be made in the future.
• The President's request to defer budgetary resources through apportionment temporarily is called?
• Who can be used in positions that do not require military incumbents by reasons of law, training, security, discipline, or combat readiness?
• 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?
• Which category of contract involves bidding by vendors without negotiation?
• What are the funds called that flow through intra-governmental business-type operations such as DWCFs?
• What is the difference between Cost Avoidance and Cost Savings?
• Which mechanism provides budget authority for ongoing activities for a limited period and can extend into the next session?
• Under GPRA, the Performance Accountability Report is associated with which term?
• Which article establishes the Executive Branch?
• What are unalloted apportionments?
• Which phase is responsible for detailing the allocation of resources?
• The DoD Civilian Work Force is defined as which group?
• 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 statement best describes continuing resolutions’ spending limits?
• Which statement best describes the Engineering approach's strengths and weaknesses?
• Disparate Treatment versus Adverse Impact: Which statement correctly describes their meanings?
• What are two ways to issue an obligation?
• Amending the Articles of Confederation required what level of approval?
• DoD notification to Congress: When must it occur?
• What documents does the SLRG approve?
• What is the difference between outsourcing and privatization?
• Who requires the P.A.R.T. and from whom?
• Who is responsible for recruiting, training, and equipping forces?
• What must be done with unused funds at expiration of appropriation for Economy Act Orders?
• In PPBE, which phase is primarily responsible for translating the strategic plan into a prioritized set of programs?
• Which item is included among the first four steps to an EA?
• The regulatory basis for Economic Analysis is?
• What is the final document of the planning phase?
• Which of the following best represents an objective of Economical Value Management?
• The Bona Fide Needs Rule is a part of which statute?
• Finance can be separated into what three functions?
• 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?
• Full-time Equivalent employment is defined as what?
• Relief for Loss of Funds provisions are located in which Title?
• Who performs Independent Cost Estimates (ICE) for major DoD acquisitions?
• An obligation is officially recognized only when recorded: True or False?
• What is the ADA Time statute?
• Which statement correctly describes the adjustment of allotments?
• Vendor Express is an ___ program?
• Which act, abbreviated as BICA, introduced budget oversight mechanisms and the CBO?
• What important document comes from the NSC?
• What is the maximum amount of time off award allowed a civilian employee in one year?
• Which period corresponds to the Fall Review?
• What three agencies established the FASAB and most affect the decisions of DoD financial managers?
• Which proposal addresses matters that affect the operation of either the House or the Senate and does not go to the President for action?
• Which Merit Principle addresses using the Federal work force efficiently and effectively?
• Which method uses a formal, iterative consensus from experts?
• 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:
• Where must the Disbursing Station Symbol Number (DSSN) appear?
• Which statement about BRAC land sales is accurate?
• For disbursements exceeding 50 million, how many days notice to FMS?
• When can DoD contract for non-federal auditors?
• What four items make up the DoD Security Strategy?
• Does the Bona fide need rule apply to no-year funds?
• O&M funding covers which of the following functions?
• What does the cover memo convey in the Statement of Assurance?
• Who prepares the Concurrent Budget Resolution?
• DWCF or revolving funds evolved from what two distinct categories?
• Which statement best describes the purpose of PAR within the GPRA framework?
• Which act requires strategic planning, performance planning and goal setting, and performance reporting?
• The 1950 Accounting and Auditing Procedures Act required apportionment and allocation systems and expanded the ___ Act and required reporting?
• The Federal Managers' Financial Integrity Act addresses which objective?
• EA are rarely the sole basis for approval or disapproval.
• Which term describes a payment returned to the payer due to an error?
• When does OMB/OSD negotiate apportionment?
• 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)?
• MILCON falls under which type of appropriation?
• Which of the following is NOT a type of federal audit?
• Which of the following describes the conditions for replacing a contractor after default?
• What is the balance equation for proprietary accounting?
• What is the BIR formula?
• Which act prohibits the President from withholding funds without sufficient reason?
• Who may retain the proceeds from land sale for local use?
• What does WCF stand for?
• The DoD annual reporting includes assurance on which area?
• After BES review, which document is produced to guide funding decisions?
• Which collection is used by the Disbursing Office as authority to make Government payments?
• 31 U.S.C. 1341, 1342, and 1517 combined are the cornerstone of which Act?
• What are the types of negotiated contracts?
• IPAC stands for which of the following?
• Program and Budget schedules will state __ year costs.
• Which statute governs gifts to employees?
• Which statute provides the primary control Congress has over the Executive Branch?
• The P.A.R.T. requirement is issued by which entity from agencies as part of the APP?
• Which action directly enables spending money by giving budget authority?
• What category of WCF is primarily financed by reimbursements from customers' appropriated accounts?
• Which of the following is NOT an annual appropriation?
• The CPA is used to survey and assess the recommendations of which group?
• In which phase do Agencies testify to Congress regarding their budget requests?
• Which circular deals with Financial Reporting Requirements?
• The Electronic Data Access (EDA) provides world-wide access to what?
• Which volume of the FMR contains general accounting policy and procedures?
• BRAC-ed land sale: The statement 'BRAC-ed land can also be sold and 50% of the proceeds retained by the installation Commander' is:
• Which of the following is not one of the four general standards of GAGAS?
• BIR stands for what?
• Which Accounting Standards Board provides standards for the Federal Government?
• After how many letters does a debt owed by an employee become eligible for offsetting collection?
• Materiality or effectiveness is NOT considered when developing a plan for an audit, true or false?
• Which document is commonly referred to as the Red Book?
• When must the President submit the next fiscal year budget?
• What document number identifies DoD's financial policy manual?
• What is the capital threshold for which an asset is recorded as PP&E?
• In the audit REVIEW phase, auditors search for evidence that is what three qualities?
• Non-appropriated funds are government funds and they do receive which type of support?
• During apportionment, who approves the distribution of funds into time periods, activities, or projects?
• 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?
• Which of the following is also a correct representation of the FMFIA auditor requirements?
• Gifts directed to the United States are always permissible for acceptance by agencies, regardless of the situation.
• Which document serves as the authority for the Disbursing Office to make government payments?
• Which statement best describes GPRA's impact on budgeting?
• A proper invoice has how many items that must be found on it to be proper?
• In multi-year appropriations, during a CR the carried over balance is not included in the spending limits of the CR: True or False?
• GPRA stands for which of the following?
• Which statement is NOT accurate about the sale or out-lease of DoD land?
• Which form is used to submit funds to the OMB?
• If comp time is not used within 26 pay periods or by separation/retirement, what happens?
• Which approach is considered the bottom-up cost estimating method?
• Which statement best summarizes the three specific provisions of the Civil Service Reform Act that profoundly impact the appraisal system?
• Prompt Pay mandates payment within how many days after receipt of invoice?
• Cash payments made to liquidate an obligation.
• 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?
• Milcon is an which type of account?
• About how long does a standard CA study take? A streamlined?
• Which formula expresses Net Costs of Operations?
• What are the three choices for the Statement of Assurance?
• Which statement about ADA and obligation is correct?
• Which of the following is the correct trio of processes that occur during the Congressional Action Phase?
• In the government balance sheet equation, which term represents the residual interest after liabilities are deducted?
• Which official designated DFAS as the principal DoD finance agency?
• Imprest funds are best described as
• Comptroller certification to the Contracting Officer stating that funds are available and are certified for purpose, time, and amount is called?
• All financial transactions feed to what three consolidated, U.S. Government financial reports?
• Relief is available for the loss or miscertification of funds.
• In managerial cost accounting, what costing method recognizes a causal relationship between work activities and costs?
• Which frequency is specified for external peer reviews under GAGAS?
• Which kinds of changes constitute a change in scope?
• EVM is meant for what type of contracts?
• A statement about vendor payment documentation: which is true?
• Earned Value Management (EVM) is used for what?
• Corrective action plans should be developed for __?
• Which option is NOT a common descriptive statistic?
• President need not request rescissions?
• Which rule requires obligating for the material requirements of the period of fund availability?
• Which volume covers Reimbursements, with 11B for WCFs?
• The acronym ADA stands for which act?
• Which statement best describes the composition of the Most Efficient Organization (MEO)?
• Which Cost Estimating approach makes statistical inferences about Cost Estimating Relationships between costs and system characteristics?
• In the CRIME framework, what does the 'I' stand for?
• FMFIA's purpose addresses which of the following?
• What are the two 5 year appropriations most common to DoD?
• Which statement is true about the SLRG?
• Which statute governs gifts to employees?
• How many components are in the GAO internal control standards?
• The requirement for internal quality control and external peer review is a characteristic of which auditing framework?
• Budget Execution is documented in which FMR Volume?
• Which statement best describes a Performance Work Statement?
• Which document provides budget authority to incur obligations and to make expenditures for the Government?
• In the GAO Red Book, which is one main principle of use of funds?
• Which term describes funds that are unallotted after apportionment?
• Which act introduced a framework for budget enforcement by separating discretionary and mandatory spending and including PAYGO?
• 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:
• Which of the following is not part of the four items required for payments to vendors?
• To determine cost variance compare the BCWP to __ Cost of work performed.
• MilCon relates to which type of account?
• Is the JPG fiscally constrained?
• What is the official OSD record of BESs as adjusted by SECDEF?
• The term DoD Civilian Work Force is defined as which group?
• What accounting system is growing in importance with the rise of performance based budgeting and reporting?
• 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?
• 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?
• 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?
• On which federal financial report would you look to see how much Individual Income Tax was as a percent of all revenues?
• How often and when does OSD submit funds to OMB for funds, and what form is used?
• What financial control document is issued after the President signs the appropriation?
• O&M and ____ are expense appropriations?
• Costs in any Economic Analysis are __ year costs and __ value.
• What are the three objectives of OMB Circ. A-76?
• The act that requires ongoing evaluations and reports on internal control in Executive agencies is:
• Which volume of the FMR covers Reimbursements (with 11B for WCFs)?
• What year did GMRA require the consolidated, financial statement for the entire Executive Branch?
• The program period includes four planning years.
• Intent is considered in determining whether an ADA took place.
• Who are the statutory advisors to the NSC?
• Under FMFIA, how often must an agency report findings of internal control?
• Which set of names corresponds to acquisition Phases A, B, and C?
• Which option best describes the category of appropriation for mandatory spending or entitlements?
• Which statement best characterizes the Government Employee Training Act (GETA) within civil service provisions?
• The PDM is the formal announcement of decisions made by which officials after reviewing which documents?
• The Benchmarking process consists of how many steps?
• Which financial statement is described as obligation-based?
• 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?
• The FYDP summarizes programs approved by which official?
• Which statute provides the Department of Defense permanent authority to offer voluntary early retirement or separation incentive pay?
• Which term describes a bill that has passed one chamber?
• Which OMB Circular is associated with the Management and Accountability Act?
• 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?
• When is a CARD required?
• What kind of accounting is accrual basis and captures costs and revenues and then applies them to the appropriate period?
• Which cost estimating approach involves collecting expert opinion and redistributing it through several iterations?
• What is the term used when Congress is adjourned and the President fails to sign a bill within the 10-day period?
• Undistributed disbursements are placed in what kind of account?
• Stewardship land is all land provided at no cost, regardless of current or future use. True or False?
• An agency does not need approval to accept a gift when
• In which phase are monetary and non-monetary benefits identified?
• 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?
• What is the primary role of the DFAS in relation to DoD finances?
• What term describes a collection of a payment made in error?
• Where are the details of the Feed and Forage Act found?
• Heads of DoD Components must submit Statements of Assurance to the SECDEF by when?
• Which statement about stewardship land is true?
• 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?
• Which statement about training in relation to severability is true?
• How many forms of Budget Authority are there?
• What are the two Financial Reporting Deficiencies?
• In the GAO CRIME framework, which component corresponds to ongoing oversight to assess performance and ensure controls are operating effectively?
• The Constitution was ratified in June 1788. Which date is correct?
• Under the same provision, what is the maximum number of Selected Reserve and IRR members that can be activated at any one time?
• Prompt Payment Act is outlined in what OMB Circular?
• The APR is submitted by whom to whom, and when?
• BRAC land retention rule: which statement is correct?
• Which fund category is used for programs of a business-type operation, usually with the public?
• MILPERS is an acronym for which budget category?
• What are the four general standards of GAGAS as applied to auditing agencies?
• 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?
• The APR stands for what, and it is part of which framework?
• What kind of CA study is mandatory?
• What are the two most common types of Budget Authority in DoD?
• 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?
• 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 is the primary purpose of the National Security Strategy produced by the NSC?
• How often does the Agency monitor financial activity?
• Which program addresses special needs by group in hiring, recruiting, placing, and training?
• 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?
• Which document outlines the four-year planning horizon for defense?
• Which statement best reflects the restriction described in Article I, Section 9?
• 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?
• What are the six Non-Appropriated Funds (NAF) categories?
• 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 two types of tools help analyze the allocation of scarce resources?
• Who evaluates and submits reports to Congress?
• Which cost estimating approach uses historical information to guide estimates for similar projects?
• Among internal control deficiencies, which is tracked internally and which is reported?
• Cost estimates are stated in ___ value terms.
• By law, who does SECDEF submit the QDR to?
• Certification of payment request from a contractor is called?
• Which act requires affirmative action plans in federal programs?
• Who designated DFAS as the principal agency responsible for DoD finance?
• Divided spending into Discretionary and Mandatory.
• Authority for annual mandatory expenditures is found in permanent statutes.
• In the SCN example, what is the sum of 5 and 5?
• Which of the following is a type of negotiated contract?
• Which two mechanisms are identified as ways to issue an obligation?
• Which statement best describes sensitivity analysis in EA?
• GPRA is also known as which Act?
• When should a deficiency be reported?
• Which elements are typically included in the Acquisition Program Baseline?
• Which phase begins with the Congressional Action Phase?
• Who is responsible for Internal Controls?
• Under what condition can a Treasury check be paid after it has become non-negotiable?
• What cost threshold triggers the need for an Economic Analysis?
• The EA process employs two principles. Which statement best describes them?
• The APR is a component of which broader report?
• Disbursing MILPAY (including retirement) must provide how many days notice?
• To whom is the Annual Statement of Assurance submitted and when?
• Competition A-76 enhances? (economy, quality, and productivity)
• Which event is described as the Fall Review during the OSD budget process?
• The Federal accounting system includes which three systems?
• Which pairing is NOT correctly matched?
• The acronym BICA refers to which act?
• What conditions must be met for advance payments to vendors?
• Travel advances are counted as assets or liabilities up until they are settled?
• General, Heritage, and Stewardship are the three categories of what?
• Under Multi-Year Contracting, the full 5 year costs may be obligated in the first year?
• All appropriations are assumed to be what unless specified?
• Which of the following are types of collections for property sold or services rendered to the public or to another Federal Agency?
• Which option best describes the funding for the industrial fund?
• Vendor payments must be supported by four documents. Which of the following is among them?
• What three processes occur during the Congressional Action Phase?
• In presenting cost estimates in present value terms, where are the discount rates found?
• ACAT 1A programs are MAISs.
• Which statement describes a weakness of the Actual Cost approach?
• Accounts receivables can be the result of reimbursement owed or what else?
• Which statement best describes the relationship between O&M appropriations and the industrial fund?
• Which document provides the framework for the government-wide budget across the year?
• 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.
• Parametric estimation relies on which of the following to establish estimates?
• Where are all revenue bills generated?
• A consolidated PAR is prepared for which scope?
• What are the three types of collections?
• Under GAGAS, what are the standards for auditor competence?
• In the context of Government Auditing Standards, which of the following is considered a monetary benefit category?
• Generally speaking, can employees accept gifts associated with their position?
• After two letters are sent and no response, the uncollected debt is referred to DFAS for action when the amount reaches what threshold?
• Which amount threshold triggers referral to PDTATAC for final resolution by the DoD Office of the General Counsel?
• 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?
• Which program consumes the most of the President's Budget?
• In Earned Value Management, BCWS stands for Budgeted Cost of Work Schedule.
• Defined as the period during which budgetary resources may be used to incur new obligations.
• Which law prohibits expenditures in excess of appropriations?
• The Economic Analysis explores __ methods for achieving objectives and anticipated results of each. It should be updated when?
• What is the three prong purpose test?
• Which term describes the end-of-fiscal-year strength for active forces, the Selected Reserve, and appropriated-fund civilian employees?
• Fiscal Law sources include the Constitution, Authorization and Appropriation Acts, General Statutes, and which two types of decisions?
• 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?
• MIL-STD HDBK 881B defines the process for which of the following?
• Annual appropriations are intended for ___% obligation?
• The Statement of Net Cost uses which accounting basis?
• Which Title contains the Government Employees Incentives Awards Act?
• 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?
• The purpose of the Programming phase is to come up with a detailed allocation of resources through use of___
• EA should predict political and other non-economic impact.
• Which item is NOT considered part of GPRA's mandated components?
• The APP stands for what, and it is part of which framework?
• 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?
• Which of the following statements accurately describes the four criteria for using WCFs?
• What does Electronic Data Access stand for?
• The policy direction of OMB Circular A-76 is intended to:
• Who submits BESs?
• 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.
• Regarding BRAC land sales, which statement is correct?
• Which two primary documents are used to obligate budget authority?
• The example 2+5=7 is associated with which DoD program category?
• In federal appropriations, which term describes the maximum allowable obligations and expenditures?
• What must be submitted quarterly by Agencies to OMB?
• Maximum number of discretionary allotments a military member may have?
• Which act originally mandated the Government Performance & Results Act (GPRA)?
• Resources used by the Federal Government to pay its bills; primarily from individual income taxes.
• Payment to liquidate an obligation other than repayment of debt principal.
• 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?
• Which agency has final resolution authority for questionable travel claims referred to PDTATAC?
• Which statement about Cost Avoidance and Cost Savings is true?
• What is the SLRG and who is it made up of?
• A streamlined CA study is conducted if how many employees are affected?
• When is a Standard Comparison CA study required?
• Which description defines a weakness that crosses components?
• Which statement is true about BES submission timing?
• What is required before money can be issued from the Treasury?
• What four things are required for payments to vendors and what may occur simultaneously?
• What are the three types of audits?
• GPRA stands for which phrase?
• How many days does Congress have to act on a Presidential rescission proposal?
• 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?
• What does P.A.R.T. stand for?