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Exam (elaborations)

CDFM Module 4 Exam, Certified Defense Financial Manager, 2026 – Exam Questions with Correct Verified Answers

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This document contains CDFM Module 4 exam questions with fully verified correct answers, designed to support preparation for the Certified Defense Financial Manager certification. It focuses on advanced defense financial management concepts, including audit readiness, fiscal law application, internal controls, performanceFIAR, and financial analysis, making it suitable for targeted review and exam readiness.

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CDFM
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Uploaded on
January 17, 2026
Number of pages
21
Written in
2025/2026
Type
Exam (elaborations)
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CDFM Module 4 Exam questions with
correct answers
What |are |Joint |Acquisition |Programs? |- |VERIFIED |ANSWER✔✔-Joint |Acquisition |Programs |is |any
|acqusition |system, |subsystem, |component, |or |technology |program |with |astrategy |that |includes

|funding |by |more |than |one |DoD |component |during |any |phase |of |a |system's |life |cycle.




Who |decides |to |place |programs |under |joint |acquisition |management? |- |VERIFIED |ANSWER✔✔-The
|MDA |decides |whether |to |place |programs |under |joint |management |and |designates |the |lead |executive

|DoD |component.




What |law |requires |an |analysis |of |potential |opportunities |of |international |cooperation? |- |VERIFIED
|ANSWER✔✔-10 |USC |2350a(e) |requires |international |cooperation |consideration |in |the |initial

|aquisition |strategy |for |a |program.




When |international |programs |may |be |established |in |the |defense |acqusition |program |- |VERIFIED
|ANSWER✔✔-Decision |to |include |international |partners |needs |to |be |included |during |development |of

|the |initial |capabilities |document |but |no |early |than |the |material |and |solution |analysis |phase.




When |is |Earned |Value |Management |(EVM) |implemented |- |VERIFIED |ANSWER✔✔-EVM |is |part |of
|program |management |. |It |ensures |that |cost |, |schedule |and |technical |aspects |of |the |contract |are |truly

|integrated.




In |what |type |of |contracts |EVM |is |required |- |VERIFIED |ANSWER✔✔-EVM |is |required |on |Cost, |and/or
|Incentive |contracts |valued |at |greater |than |$20M.




What |is |EVM? |- |VERIFIED |ANSWER✔✔-Earned |Value |Management |is |a |tool |that

1. |Relates |the |scope |of |the |work |to |its |associated |budgets |and |schedule.

2. |Measures |the |work |progress |in |objective |terms

3. |States |that |value |of |the |work |completed |in |dollars |and |other |measurable |units.

,What |are |EVM |techniques? |- |VERIFIED |ANSWER✔✔-Correlate |the |budgeted |cost |of |worked |scheduled
|with |the |budget |cost |of |work |performed |(BCWP)



1. |0/100 |Earned |Value |Technique

2. |Percent |Start/Percent |Finish |EV |Technique |(50/50) |(25/75) |(80/20)

3. |Percent |Complete

4. |Units |Completed

5. |Equivalent |Units



Describe |the |Percent |Start/Percent |Finish |EV |Technique |- |VERIFIED |ANSWER✔✔-Is |an |objective
|earned |value |technique |tied |to |the |start |and |completion |of |a |work |package |task, |often |referred |to |%

|assigned |to |the |start |and |finish |milestone |such |as |(50/50...)



Thsi |technique |tends |to |overstate |performance |in |the |first |half |of |the |period |of |performance |and
|uderstate |performance |in |the |last |half.




What |is |the |most |important |step |in |EVM |system? |- |VERIFIED |ANSWER✔✔-Is |the |establishment |of |the
|Performance |Measurement |Baseline |(PMB)or |the |Budgeted |Cost |of |Work |Schedule |(BCWS)




What |is |the |PMB |in |and |EVM? |- |VERIFIED |ANSWER✔✔-The |PMB |includes |the |undistributed |budget,
|all |summary |level |planning |package |budgets, |and |all |control |account |budgets. |It |does |not |include

|management |reserve.




What |is |the |final |step |of |the |PMB? |- |VERIFIED |ANSWER✔✔-Is |to |classify |work, |to |allocate |the |budget
|and |to |time |phase |the |control |account |work |package |budgets. |This |last |phase |is |calculate |BWCS




How |do |we |classify |work |packages |in |EVM? |- |VERIFIED |ANSWER✔✔-in |3 |categories, |Discrete,
|apportioned |effort, |and |level |of |effort.




Describe |the |realignment |of |the |PMB |- |VERIFIED |ANSWER✔✔-Rebaselining, |Replanning, |and
|Reprogramming




What |is |Reprogramming? |- |VERIFIED |ANSWER✔✔-Reprogramming |is |a |comprehensive |realignment |of
|the |remaining |performance |measurement |baseline |that |results |in |a |total |budget |and/or |total

, |schedule |that |exceeds |the |contractual |requirements. |It |is |the |process |that |results |in |an |Over-Target
|Baseline |or |OTB |and |an |Over-Target |Schedule |OTS.




Schedule |Performance |Index |(SPI) |formula |- |VERIFIED |ANSWER✔✔-SPI=BCWP/BCWS



Estimate |at |Completion |(EAC) |formula |- |VERIFIED |ANSWER✔✔-EAC=ACWP+[(BAC-
BCWP)/(Performance |Factor)]



EAC |Compsite |formula |- |VERIFIED |ANSWER✔✔-ACWPcum+[(BAC-BCWPcum)/(CPIcum*SPIcum)]

Upper |Value |(worst |case)



EVM |Terminology |- |VERIFIED |ANSWER✔✔-EAC=Estimate |at |Completion

BAC=Budget |at |Completion(current)

BCWS=Budget |Cost |of |Work |Scheduled |(current)

BWCP=Budget |Cost |of |Work |Performed |(earned |value)

ACWP=Actual |Cost |of |Work |Performed



What |is |the |Contractor |Cost |and |Software |Data |Reporting |(CSDR) |- |VERIFIED |ANSWER✔✔-The |CSDR
|system |involves |two |formal |contractor |reports, |the |COntractor |Cost |Data |Report |(CCDR) |and |the

|Software |Resources |Data |Report |(SRDR)




What |is |Contract |Performance |Report |(CPR) |- |VERIFIED |ANSWER✔✔-The |PM |should |obtain |from |the
|contractor |a |CPR |(DD |form |2734) |on |all |contracts |the |meet |or |exceed |EVMS |dollar |thresholds |and

|require |EVMS |compliance. |The |CPR |provides |contract |cost |and |schedule |performance |for |program

|mangement.




What |is |Contract |Funds |Status |Report |(CFSR) |- |VERIFIED |ANSWER✔✔-(DD |1586) |has |no |specific
|application |thresholds |but |PMs |should |evaluate |contracts |of |less |than |$1.3M. |FFP |contracts |should

|not |apply |the |CFSR |unless |unusual |circumnstances |dictate |funding |visibility.




What |is |Government |Contract |Quality |Assurance |(GCQA) |- |VERIFIED |ANSWER✔✔-DCMA |Q&A
|personnel |conducts |quality |assurance |as |identified |in |contract |administration |delegations |by |the |KO.

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