CDFM 3.1 Fiscal Law Exam Questions
With Correct Answers
True or false? A working capital (Revolving) fund or part of that fund
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cannot violate the Anti Deficiency Act. - CORRECT ANSWER✔✔-FALSE
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Agencies are responsible for maintaining a system of accounting and
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internal controls to avoid violations of the _________. - CORRECT
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ANSWER✔✔-31 USC 1341, 1342, and 1517 (Anti-Deficiency Act)
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The appropriation time line for Military Construction is _______ years. -
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CORRECT ANSWER✔✔-5 |
The appropriation time line for Procurement (excluding Shipbuilding
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and Conversion, Navy) is _______ years. - CORRECT ANSWER✔✔-3
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The 2 provisions of the US Constitution that provide the underpinning
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for the budget process are ______. - CORRECT ANSWER✔✔-Article 1
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Section 8 clause 1, Article 1 Section 9 clause 7
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,The budgetary resources that are available for new obligations until the
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purposes for which were provided are carried out are called _________.
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- CORRECT ANSWER✔✔-No-Year Authority
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The ________ governs the congressional budget, defines key budget
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term and establishes house and senate budget committees and the
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Congressional Budget Office. - CORRECT ANSWER✔✔-Congressional | | | | | |
Budget Act of 1974 | | |
True or false? Article 2 section 8 empowers Congress to collect taxes and
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Section 9 requires appropriations in law before money can be spent
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from the Treasury. - CORRECT ANSWER✔✔-FALSE. Article 1 section 8
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empowers Congress to collect taxes and section 9 requires
| | | | | | | | |
appropriations in law before money can be spent from the Treasury. | | | | | | | | | |
The appropriation time line for R & D is ________ years. - CORRECT
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ANSWER✔✔-2
The penalty for willfully and knowingly violating the Anti Deficiency Act
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is ______. - CORRECT ANSWER✔✔-Up to 2 years and a $5,000 fine or
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both
Over obligation of an appropriation or funds and obligations or
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contracts in advance of an appropriation is a violation of _______. -
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CORRECT ANSWER✔✔-31,. USC 1341(a) | | |
, ________ appropriations is (are) no longer available for adjustments or
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payments any adjustments will be charged to current same
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appropriation (1% max) - CORRECT ANSWER✔✔-Cancelled | | | | |
Over-obligations of apportionments, allotments or other subdivision of
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funds are a violation of ________ - CORRECT ANSWER✔✔-31,. USC
| | | | | | | | | |
1517
True or False? Not knowingly or willfully committing a violation of the
| | | | | | | | | | | |
Anti-Deficiency Act does not, by itself, justify a decision to not impose
| | | | | | | | | | | |
disciplinary action against the individual. - CORRECT ANSWER✔✔-TRUE
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It is the responsibility of the _____ to review and approve the agency
| | | | | | | | | | | | |
systems of administrative control of funds to prevent violations of the
| | | | | | | | | | |
Anti-Deficiency Act. - CORRECT ANSWER✔✔-OMB | | | |
Acceptance of voluntary service is a violation of _________ - CORRECT
| | | | | | | | | | |
ANSWER✔✔-31,. USC 1342 | |
_____ is the shift from one purpose or activity to another within
| | | | | | | | | | | |
different appropriations. - CORRECT ANSWER✔✔-Transfer
| | | |
With Correct Answers
True or false? A working capital (Revolving) fund or part of that fund
| | | | | | | | | | | | |
cannot violate the Anti Deficiency Act. - CORRECT ANSWER✔✔-FALSE
| | | | | | | |
Agencies are responsible for maintaining a system of accounting and
| | | | | | | | | |
internal controls to avoid violations of the _________. - CORRECT
| | | | | | | | | |
ANSWER✔✔-31 USC 1341, 1342, and 1517 (Anti-Deficiency Act)
| | | | | | |
The appropriation time line for Military Construction is _______ years. -
| | | | | | | | | | |
CORRECT ANSWER✔✔-5 |
The appropriation time line for Procurement (excluding Shipbuilding
| | | | | | | |
and Conversion, Navy) is _______ years. - CORRECT ANSWER✔✔-3
| | | | | | | |
The 2 provisions of the US Constitution that provide the underpinning
| | | | | | | | | | |
for the budget process are ______. - CORRECT ANSWER✔✔-Article 1
| | | | | | | | | |
Section 8 clause 1, Article 1 Section 9 clause 7
| | | | | | | | |
,The budgetary resources that are available for new obligations until the
| | | | | | | | | | |
purposes for which were provided are carried out are called _________.
| | | | | | | | | |
- CORRECT ANSWER✔✔-No-Year Authority
| | | |
The ________ governs the congressional budget, defines key budget
| | | | | | | | |
term and establishes house and senate budget committees and the
| | | | | | | | | |
Congressional Budget Office. - CORRECT ANSWER✔✔-Congressional | | | | | |
Budget Act of 1974 | | |
True or false? Article 2 section 8 empowers Congress to collect taxes and
| | | | | | | | | | | |
Section 9 requires appropriations in law before money can be spent
| | | | | | | | | | | |
from the Treasury. - CORRECT ANSWER✔✔-FALSE. Article 1 section 8
| | | | | | | | | |
empowers Congress to collect taxes and section 9 requires
| | | | | | | | |
appropriations in law before money can be spent from the Treasury. | | | | | | | | | |
The appropriation time line for R & D is ________ years. - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-2
The penalty for willfully and knowingly violating the Anti Deficiency Act
| | | | | | | | | | |
is ______. - CORRECT ANSWER✔✔-Up to 2 years and a $5,000 fine or
| | | | | | | | | | | | |
both
Over obligation of an appropriation or funds and obligations or
| | | | | | | | | |
contracts in advance of an appropriation is a violation of _______. -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-31,. USC 1341(a) | | |
, ________ appropriations is (are) no longer available for adjustments or
| | | | | | | | | |
payments any adjustments will be charged to current same
| | | | | | | | |
appropriation (1% max) - CORRECT ANSWER✔✔-Cancelled | | | | |
Over-obligations of apportionments, allotments or other subdivision of
| | | | | | | |
funds are a violation of ________ - CORRECT ANSWER✔✔-31,. USC
| | | | | | | | | |
1517
True or False? Not knowingly or willfully committing a violation of the
| | | | | | | | | | | |
Anti-Deficiency Act does not, by itself, justify a decision to not impose
| | | | | | | | | | | |
disciplinary action against the individual. - CORRECT ANSWER✔✔-TRUE
| | | | | | |
It is the responsibility of the _____ to review and approve the agency
| | | | | | | | | | | | |
systems of administrative control of funds to prevent violations of the
| | | | | | | | | | |
Anti-Deficiency Act. - CORRECT ANSWER✔✔-OMB | | | |
Acceptance of voluntary service is a violation of _________ - CORRECT
| | | | | | | | | | |
ANSWER✔✔-31,. USC 1342 | |
_____ is the shift from one purpose or activity to another within
| | | | | | | | | | | |
different appropriations. - CORRECT ANSWER✔✔-Transfer
| | | |
