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CDFM Questions and Answers 100% Solved

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CDFM Questions and Answers 100% Solved How many branches of government did the Constitution establish? Three What was the predecessor to the Constitution? Articles of Confederation Where are all laws enacted? Congress In which article of the Constitution is the power to raise taxes found? One What occurs when Congress is not in session and the President does not sign a bill in 10 days? Pocket Veto What percentage of the Gross Domestic Product (GDP) of the US will the Federal Spending represent in FY 12? Twenty-three percent Approximately what percent of total Federal spending is discretionary spending? Thirty-six percent Which branch of government implements laws? Executive Branch Which branch of government is authorized to raise taxes and borrow money? Legislative Branch (Congress) What is the name of the committees that attempt to resolve difference between House and Senate versions of a bill? Conference Committee (the Third Chamber) Which agency issues directions for use by other agencies in submitting their budget? Office of Management and Budget (OMB) What type of legislation provides an agency with budget authority? Appropriation Acts provides budget authority What term is used to describe a subdivision of an apportionment? Allotment What agency issues apportionment? Office of Management and Budget (OMB) Which branch of government conducts hearings on the effectiveness of government programs? Legislative Branch (Congress) In the Federal budget process, which organizations actually prepare budget estimates? Federal Agencies What is the largest single source of Federal government tax revenues? Individual Income Taxes What are requests for funds in addition to amounts already appropriated? Supplemental What financial control document is issued by the Treasury Department following signature of the Appropriations Act? Appropriation Warrant What term describes a postponement in the use of appropriated funds? A cancellation of appropriated funds? Deferral; Recession After the Appropriation is signed into law, DOD requests what from OMB? Apportionment An administrative reservation of funds is known as what? Commitment What gives a Federal Agency the legal authority to operate a program? Authorization Legislation Where can the rules for calculating FTE employment be found? OMB Circular A-11 What term is used to refer to the totality of units in a DoD component? 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, the Selected Reserve, and appropriated-fund civilian employees in the FYDP? Peacetime Strength What is the maximum number of days that units of the Selected Reserve, and members of the Individual Ready Reserve may be ordered to active duty (other than for training) without the convent of Congress? 365 days What process involves assembling, organizing, and using manpower and material resources in preparation for war of other emergency? Mobilization What is the maximum number of the Selected Reserve and the Individual Ready Reserve who may be on duty at any one time? Of these, what is the maximum number who may be members of the Individual Ready Reserve? 200,000;30,000 What term is used to describe a civilian who could be deployed to a crisis area? Emergency Essential Employee What types of activities are excluded from competition under OMB Circular A-76? Inherently Governmental How frequently must Federal agencies compile lists of activities that are not inherently governmental? Annually Merit principles say that equal pay should be provided for what type of work? Work of equal value Merit principles place the burden for good employee performance on management or the employee? Both A disabled veteran with a service-connected disability of 30 percent or more must be given what type of notice of a proposed passover? Written New Federal employees normally serve a probationary period of how long? One year An EEO complainant must contact an EEO counselor within how many days of the event causing the complaint? 45 days. However, may be extended under extenuating circumstances The EEO counselor has 30 days to work a case. Can this time limit be extended and if so, for how long? Yes, an additional 60 days Effective training can be a critical component for achieving what? Organizational Goals Differing priorities, misunderstanding of roles and responsibilities, technical opinions, and personality clashes often cause what? Conflict "Leave well enough alone" is an example of which type of conflict resolution approach? Avoiding "Two heads are better than one" is an example of which type of conflict resolution approach? Collaborating What is one of the exceptions to the ban or gifts from outside sources? The value of the gift is $20.00 or less What is the name of the Department's internal control effort? Managers' Internal Control Program The purposes of the Federal Managers' Financial Integrity Act of 1982 are to prevent waste or misuse of agency funds or property and to assure the accountability of what? Assets What do internal controls reasonably ensure? Programs achieve intended results Resources are used efficiently Programs/resources are protected from waste, fraud, and mismanagement Laws and regulations are followed Financial reporting is reliable and accurate What agency issues "Standards for Internal Control in the Federal Government"? Government Accountability Office (GAO) Segregation of duties is a part of which internal control standard? Control Activities The Integrity Act report must include agency plans to correct what type of weakness? Material Weakness Who decides whether a weakness is material enough to warrant reporting as a "material weakness" to the next higher level? It is a Management Judgment What should be the last milestone of the corrective action plan fir each material weakness? Correction Validation The DoD component head's Statement of Assurance must take one of how many forms? Three How many standards are there in the GAO Standards of Internal Control? Five For what program is the full scope of management responsibility defined in DoD Instruction 5010.40? DoD's Managers' Internal Control When a DoD component head provides a Statement of Assurance that the component's controls are in place and achieving their intended objectives, is this a statement of absolute assurance or reasonable assurance? Reasonable Assurance What is the term for the probable or potential adverse effects from inadequate internal control that may result in the loss of government resources or cause an agency to fail to accomplish significant mission objectives through fraud, waste or mismanagement? Risk What kind of a weakness significantly impairs the fulfillment of a DoD component's mission? Material Weakness

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CDFM - Certified Defense Financial Manager
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CDFM - Certified Defense Financial Manager

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