FISCAL LAW FINAL PRACTICE GUIDE
UPDATED 2026 TESTED SOLUTIONS
⫸ An operational Navy base used $150,000 of FY 2015 Operations and
Maintenance (O&M) funds to award a janitorial contract covering the
period June 2015 through October 2015. Assuming that janitorial
contracts on this base are ordinarily financed with O&M funds, this
action most likely: (select one) Answer: -Violated the Bona Fide Need
Rule
-Violated the Antideficiency Act
-*Did not violate any fiscal laws*
-Violated the Purpose Statute
⫸ True or False. Investigations into fiscal law violations are led by the
Government Accountability Office (GAO). Answer: -*True*
-False
⫸ True or False. The consequences for those who intentionally violate
fiscal laws may include fines and/or imprisonment. Answer: -*True*
-False
⫸ True or False. When faced with uncertainty regarding the
appropriation of funds, Financial Managers should first check with
higher authority/Comptroller prior to obligating the funds to ensure there
UPDATED 2026 TESTED SOLUTIONS
⫸ An operational Navy base used $150,000 of FY 2015 Operations and
Maintenance (O&M) funds to award a janitorial contract covering the
period June 2015 through October 2015. Assuming that janitorial
contracts on this base are ordinarily financed with O&M funds, this
action most likely: (select one) Answer: -Violated the Bona Fide Need
Rule
-Violated the Antideficiency Act
-*Did not violate any fiscal laws*
-Violated the Purpose Statute
⫸ True or False. Investigations into fiscal law violations are led by the
Government Accountability Office (GAO). Answer: -*True*
-False
⫸ True or False. The consequences for those who intentionally violate
fiscal laws may include fines and/or imprisonment. Answer: -*True*
-False
⫸ True or False. When faced with uncertainty regarding the
appropriation of funds, Financial Managers should first check with
higher authority/Comptroller prior to obligating the funds to ensure there
