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CERTIFIED DEFENSE FINANCIAL
MANAGER (CDFM) ACTUAL EXAM TEST
BANK (2024 EDITION) | 270 QUESTIONS
AND ANSWERS | ALREADY GRADED A+
| LATEST VERSION
What should agency managers should develop for all material weaknesses? ----- CORRECT ANSWER---------Corrective Action Plan Where must unmitigated material weaknesses be reported and when are they due? ----- CORRECT ANSWER---------Agency Financial Report (AFR) Performance and Accountability Report (PAR) Due Nov 15th Managers Internal Control Program DoDI 5010.40 requires the Under secretary of Defense (Comptroller/CFO) to establish what? -----CORRECT ANSWER---------Senior Management Council Managers Internal Control Program DoDI 5010.40 requires the Under secretary of Defense (Comptroller/CFO) to co-chair what board, and with whom? -----CORRECT ANSWER---------1. Financial Improvement and Audit Remediation (FIAR) Governance Board
- DoD Deputy Chief Management Officer (DCMO) Establish a Managers Internal Control Program to? -----CORRECT ANSWER---------1. Assess risk
- Design and test internal controls
- Identify/Classify control deficiencies
- Monitor and submit corrective action plans
You must designate the _______________________________ program coordinator of the DoD and OSD component within _______ days of a vacated position. ----- CORRECT ANSWER---------Managers Internal Control 90 days Material Weaknesses at the ___________ level that cannot be resolved are reported in the annual ____________________________ -----CORRECT ANSWER--------- SECDEF DoD Annual Statement of Assurance What are considered the 4 levels of material weakness? -----CORRECT ANSWER------- --1. DoD Level
- Component Level
- Major Command or Field Activity Level
- Installation of Activity Level What are the three types of assurances that can be reported on the Statement of Assurance? -----CORRECT ANSWER---------Unmodified Statement (no material weakness) Modified Statement (on or more material weakness) Statement of no assurance (pervasive material weakness) What requires Heads of Agency to report whether there is "reasonable assurance" that the Agency's controls are achieving their intended objectives and a report of Agency's material weaknesses? -----CORRECT ANSWER---------Financial Managers Financial Integrity Act DoD components are required to submit their statement of assurance by what date? ----
- CORRECT ANSWER---------October 1st Annual Financial Reports are due when? -----CORRECT ANSWER---------November 15th
Where are Federal-Level laws enacted? -----CORRECT ANSWER---------Congress What Article, Section and Clause empowers Congress to collect taxes -----CORRECT ANSWER---------Article 1, Section 8, Clause 1 What occurs when the President does not sign an enrolled bull within 10 days? ----- CORRECT ANSWER---------Pocket Veto Which branch of government implements laws? -----CORRECT ANSWER--------- Executive Approximately what percent of federal spending is discretionary? -----CORRECT ANSWER---------30% How frequently does congress review the DoD budget request? -----CORRECT ANSWER---------Annually Who attempts to resolve differences between the House and Senate versions of a bill? - ----CORRECT ANSWER---------Conference Committee Which agency issues direction for submitting budget estimates? -----CORRECT ANSWER---------OMB What type of legislation provides an agency with budget authority? -----CORRECT ANSWER---------Appropriation Acts
What term is used to describe a subdivision of an apportionment? -----CORRECT ANSWER---------Allotment What agency issues apportionments? -----CORRECT ANSWER---------OMB Which branch of government conducts hearings on the effectiveness of government programs? -----CORRECT ANSWER---------Legislative In the federal budget process, who is responsible for submitting budget estimates? ----- CORRECT ANSWER---------Agencies What is the largest source of federal government tax revenue? -----CORRECT ANSWER---------Individual Income Taxes What are requests for funds in addition to amounts already appropriated? ----- CORRECT ANSWER---------Supplemental What financial control document is issued by the Treasury Department following signature of the Appropriations Act? -----CORRECT ANSWER---------Appropriations Warrant What term describes a postponement in the use of appropriated funds? -----CORRECT ANSWER---------Deferral What term describes a cancellation of appropriated funds? -----CORRECT ANSWER---- -----Rescission
The 1921 Budget and Accounting Act was was responsible for the creation of what? ----
- CORRECT ANSWER---------OMB, GAO and the Comptroller General What Act requires the President to submit an annual budget proposal to Congress? ----- CORRECT ANSWER---------1921 Budget and Accountability Act What act established sequestration? -----CORRECT ANSWER---------1985 Balanced Budget and Emergency Deficit Act What Act established the pay-as-you-go (PAYGO) for entitlements -----CORRECT ANSWER---------1990 Budget Enforcement Act What are the 1985 and 1987 Balanced Budget Acts ofter referred to as? -----CORRECT ANSWER---------Gramm-Rudman-Hollings Acts GPRA requires what three things? -----CORRECT ANSWER---------Strategic Planning Performance Planning and Goal Setting Performance Reporting An administrative reservation of funds is known as what? -----CORRECT ANSWER------ ---Commitment What establishes the DoD policy and procedures of administrative controls? ----- CORRECT ANSWER---------DoD FMR 7000.14R, Volume 14, Chapter 1 What gives a Federal Agency the legal authority to operate a program? -----CORRECT ANSWER---------Authorization
Date for the: Articles of Confederation Ratification of the Constitution Implementation of the Constitution -----CORRECT ANSWER---------March 1, 1781 June 1788 March 4, 1789 What Amendment provided the Bill of Rights -----CORRECT ANSWER---------10th What did the 17th Amendment allow? -----CORRECT ANSWER---------Senators to be elected by the people of the state instead of appointed by the legislature of the state. When was the practice of "Line Item Vetoing" found unconstitutional by the supreme court? -----CORRECT ANSWER--------- 1998 Where does the Supreme Court not have jurisdiction? -----CORRECT ANSWER--------- Matters involving ONLY violation of state law Congress has been meeting ______ times per year since ________. -----CORRECT ANSWER---------Once, 1789 What article and section assigned responsibility for making laws to conress? ----- CORRECT ANSWER---------Article 1, Section 1 What is a Bill? -----CORRECT ANSWER---------Legislative proposal of a general nature that can address either a private or public nature
After hearings, a bill is then considered in a session popularly know as the _________ session. -----CORRECT ANSWER---------Mark Up Once a bill has passed either the House or Senate, it is then known as what type of bill? -----CORRECT ANSWER---------An egrossed bill Who selects conference committee members? -----CORRECT ANSWER---------Ranking Minority and Majority members of the committee Conference Committees are also referred to as what? -----CORRECT ANSWER--------- The Third Chamber After a measure/bill has been passed in identical form by both legislative bodies, it is known as what? -----CORRECT ANSWER---------An enrolled bill How many votes are required for reconsideration of a bill to overrule a presidents veto? -----CORRECT ANSWER---------2/3rds What are the three steps of a Federal Budget Cycle? -----CORRECT ANSWER--------- Budget Formulation Congressional Action Budget Execution When is the president required to submit the proposed budget to congress, and what act established this? -----CORRECT ANSWER---------First Monday in February; The 1974 Congressional Budget Act The budget formulation process is governed by what? -----CORRECT ANSWER--------- OMB Circular A- 11
What are the 6 major steps in the budget formulation stage as laid out in the OMB Circular A-11? -----CORRECT ANSWER---------1. OMB Issues Guidance
- Organization develops draft
- Agency submits budget estimates
- OMB hold hearings on Agency budgets
- President makes final decisions on Agency budgets
- President transmits the budget to congress What does DoD use as their strategic plan? -----CORRECT ANSWER---------National Defense Strategy (NDS) The formulation phase starts how many months before the Fiscal Year in which the budget will be executed? -----CORRECT ANSWER---------21 months What term is used to describe the formal results provided back to agencies after OMB's review. -----CORRECT ANSWER---------Passback Who does OMB send their passback report too? -----CORRECT ANSWER---------Head of the Agency Who can passback results be appealed to? -----CORRECT ANSWER---------President What changes can be made through the passback? -----CORRECT ANSWER--------- Funding for individual programs Reduce or increase Agency funding Direct that additional funding be added to specific programs within existing Agency funding levels. What are the three major processes associated with the Congressional Action phase? -- ---CORRECT ANSWER---------Budget Resolution Process
Who manages the authorization process for DoD? -----CORRECT ANSWER--------- House and Senate Armed Services Committess When do hearings before the HASC and SASC begin? -----CORRECT ANSWER--------- After the Presidents State of the Union What are the six defense-related House and Senate Authorization Committees? ----- CORRECT ANSWER---------1. Armed Services (Senate and House)
- Permanent Select Committee on Intelligence (House)
- Select Committee on Intelligence (Senate)
- Energy and Natural Resources (Senate)
- Energy and Commerce (House)
- Environment and Public Works (Senate) Who manages the appropriation process for the entire federal government? ----- CORRECT ANSWER---------HAC and SAC Are the appropriation committees required to follow the lead of authorization committee decisions? -----CORRECT ANSWER---------No What are the three appropriations subcommittees in each house that directly impact DoD? -----CORRECT ANSWER---------1. Defense
- Military Construction/Veterans Affairs
- Energy and Water Development How often is DoD funding subject to review? -----CORRECT ANSWER---------Annually What reference provides guidance and procedures for appealing to Congress? ----- CORRECT ANSWER---------DoD FMR 7000.14R, Volume 2A, Paragraph 010406
Who presents the DoD's position on appeals to congress? -----CORRECT ANSWER----- ----Secretary of Defense Appealing Congressional Actions can be done through a package submitted to the appropriate committee by ___________ or ____________. -----CORRECT ANSWER---- -----Under Secretary of Defense (Comptroller) or DoD Chief Financial Officer (CFO) What are the two conferees in the appeals process? -----CORRECT ANSWER--------- Authorization and Appropriation What is a Budget Amendment? -----CORRECT ANSWER---------A request to amend (revise) budget estimates transmitted previously and on which Congress has not completed action. What is a Supplemental Request? -----CORRECT ANSWER---------A request for funding in addition to amounts already appropriated What step within the Federal Budget Process provides Budgetary Authority? ----- CORRECT ANSWER---------Step 3: Appropriation What OMB Circular governs the performance on contractual requirements? ----- CORRECT ANSWER---------OMB Circular A- 76 What authorizes the president to activate reserve military outside of wartime? ----- CORRECT ANSWER---------10 USC 12304 What office was created through the Congressional Budget and Impoundment Act of 1974? -----CORRECT ANSWER---------Congressional Budget Office
Annually, agencies submit initial apportionment requests to OMB via ________ within ____ days after approval of the act providing new budget authority. -----CORRECT ANSWER---------SF-132, 10 Days The impoundment Control Act of 1974 prohibits the President from doing what? ----- CORRECT ANSWER---------Withholding funds without sufficient reason Where can the rules for calculating FTE employment be found? -----CORRECT ANSWER---------OMB Circular A- 11 What term is used to refer to the totality of units in a DoD component? -----CORRECT ANSWER---------Force Structure What term is used to refer to the authorized and programmed strength at the end of the fiscal year for the active forces, Selected Reserve, and appropriated-fund civilian in the FYDP? -----CORRECT ANSWER---------Peacetime Strength What process involves assembling, organizing, and using manpower and material resources preparation for war or other emergency? -----CORRECT ANSWER--------- Mobilization What is the maximum number of days that units of the Selected Reserve and members of the IRR may be ordered to active duty without consent of Congress? -----CORRECT ANSWER--------- 365 What is the maximum number of members of SELRES/IRR who may be on duty at any one time? Of these, what is the maximum number who may be members of the IRR? --- --CORRECT ANSWER---------200,000; 30,
What term is used to describe a civilian who could be deployed to a crisis area? ----- CORRECT ANSWER---------Emergency Essential Employee What type of activities are excluded from competition under OMB Circular A-76? ----- CORRECT ANSWER---------Inherently Governmental How frequently must federal agencies compile lists of activities that are not inherently governmental? -----CORRECT ANSWER---------Annually Define Inherently Governmental Activity -----CORRECT ANSWER---------An activity that is so intimately related to public interest as to mandate performance Defense Manpower Resource Management is separated into what four concentrations? -----CORRECT ANSWER---------1. Manpower Structure
- Mobilization and Crisis Issues
- Restructuring Initiatives
- Ethical Standards Civilian Personnel can be used only in positions that do not require what? ----- CORRECT ANSWER---------Military Incumbents Assigning Military personnel only to those jobs that contribute to the war unless: ----- CORRECT ANSWER---------1. Military Incumbency is required
- Military-Unique skills or experience is essential
- Military authority or discipline in requisite to position
- Alternative manpower is not avaiable What type of employees are not considered in Peacetime Strength workforce calculations? -----CORRECT ANSWER---------Non-Appropriated Funds (NAF)
What Title and section of the USC authorizes SECDEF to establish early retirement/buyout programs? What are they called? -----CORRECT ANSWER--------- 5 USC 9902(f) VSIP and VERA The DoDo is permitted no more than ________ buyout separations per year under 5 USC 9902, however, this does not include those buyouts subject to __________ or __________ employees. -----CORRECT ANSWER---------25, Base Realignment and Closure "or" NAF An employee accepting a buyout cannot be rehired for how may months? ----- CORRECT ANSWER--------- 12 What act requires provides guidance on identifying activities that are not inherently governmental? -----CORRECT ANSWER---------Federal Activities and Reform Act of 1998 When are lists identifying non-inherently governmental activities due, and who are they sent to? -----CORRECT ANSWER---------Not later than the end of the third quarter Director of OMB What are the two categories of Inherently Governmental Functions -----CORRECT ANSWER---------1. Act of Governing
- Monetary transactions and entitlements OMB Circular A-76 defines activities into two categories: -----CORRECT ANSWER------- --Commercial and Inherently Governmental The determination of agency policy, such as determining the content and application of regulations among other things is what kind of activity? -----CORRECT ANSWER--------- Inherently Governmental
Command of Military Forces, Control of Prosecutions, and Direct Conduct of Investigations are examples of what type of activity? -----CORRECT ANSWER--------- Inherently Governmental What Act/Public Law sets the statutory requirements pertaining to performance of commercial activities -----CORRECT ANSWER---------Federal Activities Inventory Reform Act of 1998, P.L 105- 270 OMB Circular A-76 is not designed to simply contract out, but to: -----CORRECT ANSWER---------1. Balance interests of parties to make or buy cost comparison
- Provide level playing field in public/private sector competition
- Encourage competition and choice in the management and performance of commercial activities In regards to OMB Circular A-76, it is the policy of the government to: -----CORRECT ANSWER---------1. Achieve Economy and Enhance Productivity
- Retain Governmental Functions In-House
- Rely on the Commercial Sector The Government Performance and Results Act (GPRA) of 1993 madates what: ----- CORRECT ANSWER---------Performance Measurement by the Federal Government What are the 6 Key Elements of OMB Circular A- 76 -----CORRECT ANSWER---------1. Conversion to Contract
- Conversion to In-House
- Commercial Source
- Cost Comparison
- Most Efficient Organization (MEO)
- Performance Work Statements (PWs)
