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Exam (elaborations)

Fiscal Law Test – 2nd Attempt | 2026 Update | Practice Questions and Answers

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Complete Fiscal Law Test – 2nd Attempt, fully updated for 2026. This resource includes accurate, verified questions with correct answers covering federal budget principles, appropriations, obligations, fiscal regulations, and financial management procedures. Ideal for military personnel, government finance students, and fiscal law candidates, this guide supports exam preparation, reinforces key concepts, and ensures confident performance on fiscal law assessments.

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Fiscal Law









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Institution
Fiscal Law
Course
Fiscal Law

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Uploaded on
January 20, 2026
Number of pages
8
Written in
2025/2026
Type
Exam (elaborations)
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Questions & answers

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Fiscal Law Test 2nd attempt.docx Fiscal Law Test 2nd attempt.docx.pdf Fiscal Law Test 2nd attempt.docx.pdf


Outcome: 80%


QUESTION 1
1. Under 31 U.S.C. 1341(A) and (B), an agency is prohibited from
spending in excess of an appropriation's availability, and in advance of
an appropriation's availability. Either of these can cause an ADA
violation. What else might an agency do to cause an ADA violation?
It accepts voluntary services
It commits funds prior to obligation
It exceeds funds available within a formal
subdivision
A and C
4 points
QUESTION 2
1. An "obligation" is:
Like a commitment
A legal liability to pay
Always reversible
Comes after
disbursement
4 points
QUESTION 3
1. True or False. Improper augmentation occurs when an agency accepts
gratuitous services when federal employees would normally perform
the work.
Tru
e
Fals
e
4 points
QUESTION 4
1. Coins purchased with appropriated funds are considered _____________
and should only be presented to __________ and ________________.
Gifts / Soldiers / DoD civilian
employees
Awards / Soldiers / Contractors
Gifts / Contractors / DoD civilian
employees
Awards / Soldiers / DoD civilian
employees
4 points
QUESTION 5



This study source was downloaded by 1827175 from cliffsnotes.com on 01-08-2026 17:21:57 GMT -06:00

Fiscal Law Test 2nd attempt.docx.pdf Fiscal Law Test 2nd attempt.docx.pdf Fiscal Law Test 2nd attempt.docx.pdf
https://www.cliffsnotes.com//study-notes/15674549

, Fiscal Law Test 2nd attempt.docx Fiscal Law Test 2nd attempt.docx.pdf Fiscal Law Test 2nd attempt.docx.pdf


Outcome: 80%


1. The usual period of availability for O&M funds:
2
years
1
year
3
years
5
years
4 points
QUESTION 6
1. True or False. The term "period of availability" refers to the length of
time (or window) that appropriations are available for obligation.
Tru
e
Fals
e
4 points
QUESTION 7
1. Title 10, United States Code, Section 3133 provides an exception allowing the
Department of Defense to obligate FY 1 funds for a contract of up to 12 months
extending into FY 2 for this type of acquisition:
Severable Services

Supplies

Construction

Non-Severable
Services

4 points
QUESTION 8
1. It is July 2022. The contracting officer at Fort Patton is about to award a contract for a
computer system that the Post Engineer will use to track work orders and inventory.
This $15,000 computer system is readily available within a few days from any of
several local vendors. The Post Engineer intends to use the system in a warehouse
for which construction will begin in November 2022; the warehouse will be complete
in December 2022. The contract cites FY 2022, Operations and Maintenance, Army
(OMA) funds. What should you advise the contracting officer?
The contracting officer may award the contract citing FY 2022 OMA funds.
Obligating FY 2022 funds in July 2022 will not violate the Antideficiency Act. The
Post Engineer, however, may not pay for the system until the warehouse is
completed.

Because the Post Engineer will use the system to perform installation operations
and because the "lead time" exception clearly permits use of FY 2022 funds for



This study source was downloaded by 1827175 from cliffsnotes.com on 01-08-2026 17:21:57 GMT -06:00

Fiscal Law Test 2nd attempt.docx.pdf Fiscal Law Test 2nd attempt.docx.pdf Fiscal Law Test 2nd attempt.docx.pdf
https://www.cliffsnotes.com//study-notes/15674549

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