BCF 110: Fundamentals of Business Financial Management (BCF 110): All Exams 1-10 | Questions and Answers 100% Updated.

BCF 110: Fundamentals of Business Financial Management (BCF 110) All Exams 1-10 Merged Q&A. BCF 110 Exam 1 Contains 28 Questions (Attempt=1/3) FORMULATION EXAM: Big A Overview 1) DAS milestone B is the entry point into the . The activities of the phase are funded with resources from the appropriation(s). The JCIDs document that coincides with milestone B is the . Technology Maturity & Risk Reduction phase (TMRR); RDT&E; CDD The Engineering & Manufacturing Development phase (EMD); RDT&E and Procurement; CDD Production & Deployment (PD); O&M; IOC Material Solution Analysis; RDT&E; ICD 2) When examining the Resource Allocation Process (RAP Chart, actions inside the chart occur at/between/among Headquarters of the military Departments, Defense Agencies, OSD, and Congress. These actions are considered actions. But the chart does not consider actions occur at the Major Command or Program Office. Programming; if Fiscal Cycle; why Washington; when Planning; how 3) Which of the following IS NOT a characteristic of APB Cost Parameters: Direct Costs Indirect Costs Integrated Master Schedule (IMS) Total Ownership Cost (TOC) 4) Guidance on improving the accountability and effectiveness of Federal programs and operations by establishing, assessing, correcting, and reporting on internal control is found in: OMB Circular A-123 DoD Directive 7045.14 OBM Circular A-11 GAO Report 5) Who is responsible for reviewing funding issues related to the Acquisition Strategy? The Technology Manager The Financial Manager The Contractor The Milestone Decision Authority 6) The following provides guidance for identifying warfighting capabilities: All of the answers are correct Strategic Guidance Feedback from the field Threat Assessments 7) The uses the to document its position in the PPBE process. Program Budget Information System (PBIS); Navy Army; Program Optimization and Budget Execution (PROBE) System Automated Budget Interactive Data Environment System (ABIDES); Air Force Resource Management Tool (RMT); Army 8) is the second step in the requirements generation process. Develop the Initial Capabilities Document (ICD) Develop the Capabilities Development Document (CDD) Gather & Develop Requirements Write and Document Requirements 9) The is submitted to the Program Manager by the User community (Requirements Manager). Capability Development Document (CDD) & Capability Production Document (CPD) The Initial Capabilities Development Document (ICD) Material Development Decision The Request for Proposal (RFP) 10) include the warfighter or their users/representatives such as Combatant Commands (CCMDs), Military Services and Defense Agencies. Policy Makers Sponsors Chairman of the Joint Chiefs of Staff The Joint Requirements Oversight Council (JROC) Sponsors 11) PPBE provides what to support the DAS? Validation Documentation Capability Assessments Funding Program Requirements 12) Performance requirements are listed as and linked to the program goals. Thresholds The Acquisition Program Baseline (APB) Key Performance Parameters (KPP) and Key System Attributes (KSA) Objectives 13) Who does the PM notify if the program breaches or will breach in the near future the approved APB? The Milestone Decision Authority (MDA) The Component leadership Congress Office of the Secretary of Defense 14) Programs begin procurement of items and services during which phase the DAS? Engineering & Manufacturing Development (EMD) Material Solution Analysis Technology Maturation and Risk Reduction (TMRR) Production and Deployment (PD) 15) Acquisition programs must accomplish certain key activities to ensure success. Which of the following activities help the PM? Balance cost considerations All of the answers are correct Manage schedule considerations Balance performance considerations 16) is often referred to as the DoD's This study sourc1e0w17 as0d1o3w9nloaded by:17:43 The Defense Acquisition System (DAS) The Planning, Programming, Budgeting, and Execution Process (PPBE) The Joint Capabilities Integration and Development System (JCIDS) The Doctrine of the United States Operating Guide 17) Within DoD, the process used to acquire quality products is called . Joint Capabilities Integration and Development System (JCIDS) The Defense Acquisition System (DAS) The PPBE process Systems Acquisition Management 18) OMB Circulars No. A-11 provides instruction on: Preparation and submission of the budget estimates Auditing of agency or departmental operations to determine whether federal funds are being spent efficiently and effectively The need for integrated and coordinated internal control assessments that synchronize all private sector internal control-related activities Direction on improving the Federal programs 19) The principle product of the JCIDS process that partially or wholly mitigates one or more identified capability requirements and associated capability gaps with non-material capability solutions is: Joint Doctrine, Organization, Training, Material Leadership, Personnel, Facilities, and Policy (DOTMLPF-P) Change Recommendation (DCR) Doctrine Capabilities Development Document (DCDD) Defense Urgent Operational Need (DUON) Development and Capabilities Production Document (D&CPD) 20) The following are all impacted by trade-offs EXCEPT: Milestone Decision Authority Cost Schedule Technology 21) The product support package includes the: All of the answers are correct Array of product support functions required to maintain the system Array of product support functions required to deploy the system Effective strategies for managing system costs including all functions related to weapon systems readiness 22) What is the purpose of the Planning, Programming, Budgeting and Execution (PPBE) process? Assesses requirements and joint warfighting tendencies Manages the development of DoD weapons systems Allocation of resources based on meeting the objectives outlined in the DoD Strategic Planning Determine program requirements based on the results of war games 23) The Air Force uses Automated Budget Interactive Data Environment System (ABIDES) to do which of the following activities to support the budget activities: Convey to senior leaders the consequences of proposed resource allocation choices Determine resource trends All answer choices are correct Ensure budget accuracy 24) The ultimate objective of the DoD budget is to provide Combatant Commanders (COCOMS) with the optimal mix of necessary for military-related operations and all other elements of the Department. All of the answer choices are correct Forces Support Equipment 25) is the process that matches available dollars against a prioritized list of requirements to develop a five-year resource proposal called a Program Objective Memorandum (POM). Planning Phase Programming Budgeting Phase Execution Phase 26) The purpose of the is to reduce technology, engineering, integration, and life cycle cost risk. Technology Maturation & Risk Reduction phase (TMRR) ROGRAM Engineering & Manufacturing Development phase (EMD) Operations & Support phase (O&S) Production & Deployment phase (PD) 27) During this Acquisition Phase the system is developed, built, and tested to verify that all This study sourc1e0w17 as0d1o6w8nloaded by:17:43 Production & Deployment Operations & Support Engineering & Manufacturing Development Technology Maturation & Risk Reduction 28) What system, or process, is used to translate the user needs into a weapon system or automated information system? The Joint Capabilities Integration and Development System (JCIDS) The Planning, Programming, Budgeting, and Expertise Process (PPBE) The Organizational Doctrine Guide produced by the National Security Council The Defense Acquisition System (DAS) Contains 2 Questions (Attempt=2/3) FORMULATION EXAM: Big A Overview 1) is the first step in the requirements generation process. Gather and Develop International Requirements Write and Document Requirements Develop foreign materials list Develop the Capabilities Production Document (CPD) 2) Systems Acquisition Management consists of the following processes: All of the answer choices are correct acquire products in a timely manner at a fair and reasonable cost provide measurable improvements in functional capabilities satisfy the needs of operational users Contains 1 Questions (Attempt=3/3) FORMULATION EXAM: Big A Overview 1) is a step in the requirements generation process. Write and Document Budget Exhibits to Congress Gather and Develop Information on Cyber Security Develop Capabilities Document for private sector investment Develop the Initial Capabilities Document (ICD) 20:26:24 .com/file//BCF-110-Exam-2-Results-from-1st-Attemptdocx/ Contains 8 Questions (Attempt=1/3) FORMULATION EXAM: Role of a Financial Manager 1) If there is a conflicting financial interest, all employees must . Disqualify themselves in writing from participating in the matter. Report the matter Continue to participate in the matter. Complete the OGE 278 Form. 2) All of the following are steps in the Decision Support process EXCEPT: Recommend the Decision Implement the Decision Let others develop or omit the Problem Statement Identify the Alternatives 3) are principles based on doing the right thing. Ethics Stewardship Professional demeanor Moral Values 4) As a financial manager, or any type of employee (especially working for the federal government), you should never use your position for private gain by: Receiving compensation from a non-Federal source for performing your official duties. Representing another after leaving government service on the same particular matter you worked on when you were in government service. 20:26:24 .com/file//BCF-110-Exam-2-Results-from-1st-Attemptdocx/ Accepting a bribe for taking official action on behalf of another. All of the answer choices are correct 5) What program requires Senior Executive Service (SES), political appointees, flag officers, Science and Technology (S&T), and senior leaders to file the Office of Government Ethics (OGE) Form 278? OGE Form 400 Confidential Financial Disclosure OGE Form 450 Public Financial Disclosure 6) Being engaged early in the process enables financial managers to be . In lock-step with the Program Manager Cooperative with management Key decision maker Relevant to the program 7) The financial manager is vital in monitoring program performance via . Select Acquisition Reports (SARs) Spreadsheets Earned Value Metrics The Defense Acquisition Management Information Retrieval (DAMIR) System 8) To develop a realistic cost estimate, the financial manager must: Translate cost estimates into stable budgets 20:26:24 .com/file//BCF-110-Exam-2-Results-from-1st-Attemptdocx/ All of the answer choices are correct Review capability documents for requirements that dictate particular cost elements Engage with experts across the various functional areas 20:27:39 .com/file//BCF-110-Exam-3-4-1st-2nd-3rd-Answersdocx/ Contains 20 Questions (Attempt=1/3) FORMULATION EXAM: Introduction to Planning and Programming 1) All of the following inputs are used in the PPBE Planning process EXCEPT: National Military Strategy (NMS) Defense Strategic Guidance (DSG) Program Objective Memorandum (POM) National Security Strategy (NSS) 2) Which of the following is used to prepare the Independent Cost Estimate (ICE) during the PPBE Programming Phase? Cost Analysis Requirements Description (CARD) Program Office Estimate (POE) Life-Cycle Cost Estimate (LCCE) Life-Cycle Cost (LCC) 3) The Total Obligation Authority (TOA) is the "top line" of the resources that the Office of the Secretary of Defense (OSD) designates to support a program. True False 4) Which of the following is a benefit of the implementation of "affordability" into the DoD Decision Support System? It bases the estimate on the life-cycle cost estimate (LCCE) It helps reduce later cost overruns and budget shortfalls It requires service programs be programmed and budgeted at the Program Office Estimate (POE) level rather than the Independent Cost Estimate (ICE) level It pulls its data from the Cost Analysis Requirements Description (CARD) 5) What can the Services do to ensure that strategic goals and military objectives are achieved? 20:27:39 .com/file//BCF-110-Exam-3-4-1st-2nd-3rd-Answersdocx/ Balance resources, program prioritization, risks, and program tradeoffs. Ensure the Management Decision Package is accurate and complete Join all the available military forces together to achieve program objectives 6) Which of the following is true of the business financial manager’s role during the PPBE Programming Phase? Directly support the PM Directly support OMB budget analysis Directly support OSD budget analysts Directly support Under Secretary of Defense (Comptroller) 7) A Life-Cycle Cost Estimate (LCCE) estimates the cost of developing, producing, deploying, and maintaining a system over its entire lifespan. Operating and disposing of the system is included in its own cost estimate. True False 8) Which of the following is a way that Total Ownership Costs (TOC) differs from Life Cycle Costs (LCC)? TOC is different only in scope LLC is broader than TOC LLC is different only in intent TOC is different in scope and intent 9) How many years prior to the budget request should the planning begin for the PPBE Planning Process? 3 20:27:39 .com/file//BCF-110-Exam-3-4-1st-2nd-3rd-Answersdocx/ 1 2 4 10) Which of the following provide guidance for the development of the Program Objective Memorandum (POM) of the PPBE Programming Phase? Budget Adjustment Program/Budget Reviews Service Guidance Budget Assessment Review 11) Which cost analysis involves scrutinizing the major cost drivers for each element of the program such as learning curves, indirect costs, etc.? "Could Cost" "Will Cost" "Fixed Costs" "Should Cost" 12) Which document of the DoD Planning Process provides warfighter requirements and the priorities of the combatant commands, recommendations to enhance joint readiness, promote joint doctrine and training, improve joint warfighting capabilities, and satisfy joint warfighting requirements within DOD resource constraints and within acceptable risk levels? National Security Strategy of the United States (NSS) Defense Strategic Guidance (DSG) Chairman's Program Assessment (CPA) Chairman's Program Recommendations (CPR) 13) Which of the following is a principle player of the PPBE Planning Phase? 20:27:39 .com/file//BCF-110-Exam-3-4-1st-2nd-3rd-Answersdocx/ Secretary of Defense Deputy Secretary of Defense Chairman, Joint Chiefs of Staff Component Staffs 14) Components whose acquisitions all have planned life cycles of and reach steady-state in 15 years may have affordability analysis that cover: 30 years 10 years 20 years 15 years 15) All of the following are focusses of the PPBE Planning phase EXCEPT: Cost estimation and analysis Update strategy Guidance for programming and budgeting Threat vs. capabilities 16) Who leads the Program Review that results in issue papers and eventually Resource Management Decisions? Budget Review OSD (CAPE) Leads Program Review OSD (CAPE) Leads Requirements Officers (RO) Program Element Monitor (PEM) 17) What is the impact of the Program objective Memorandum (POM) document with respect 20:27:39 .com/file//BCF-110-Exam-3-4-1st-2nd-3rd-Answersdocx/ to fiscal guidance? It establishes the strategic programmatic priorities and requirements for DoD. It establishes a 'top line' for each service by appropriation category. It establishes program resources within OSD stated fiscal constraints. It establishes a balanced set of programs that respond to the guidance and priorities set forth in the DPG. 18) During the Component Program and Budget review process, what group considers issues pertaining to JPG compliance, overall balance of Component Programs, and programmatic issues deferred during JPG preparation? Program Review OSD (CAPE) Leads Budget Review OSD (CAPE) Leads Requirements Officers (RO) Program Element Monitor (PEM) 19) An action that results in a smaller-than-projected level of costs to achieve a specific objective is known as: Cost savings Cost avoidance Will cost Should cost 20) Which document is the final product of the PPBE Planning Phase that transitions the process from the Planning Phase to the Programming Phase? Defense Planning Guidance (DPG) National Military Strategy (NMS) 20:27:39 .com/file//BCF-110-Exam-3-4-1st-2nd-3rd-Answersdocx/ Program Objective Memorandum (POM) Chairman's Program Assessment (CPA) Contains 5 Questions (Attempt=2/3) FORMULATION EXAM: Introduction to Planning and Programming 1) Planning for the PPBE Planning Process should begin about five years prior to the budget request year. True False 2) A Life-Cycle Cost Estimate (LCCE) encompasses past, present and future costs for every aspect of the program, regardless of funding source. True False 3) “Affordability” allows programs to reduce cost overruns and budget shortfalls by emphasizing the Program Office Estimate (POE) level rather than the Independent Cost Estimate (ICE) level. True False 4) All of the following are included in an affordability analysis EXCEPT: Component Cost Estimate (CCE) All component fiscal obligations under TAO Portfolio fiscal obligations Program life-cycle constraints 5) What is the impact of the Defense Planning Guide (DPG) document with respect to fiscal guidance? It establishes the strategic programmatic priorities and requirements for DoD It establishes a “bottom line” for each service It establishes a balanced set of programs that respond to the guidance and priorities set forth thus far in the PPBE process. It establishes a detailed and comprehensive description of the proposed programs, including time-phased allocation of resources by program over five years. Contains 2 Questions (Attempt=3/3) 20:27:39 .com/file//BCF-110-Exam-3-4-1st-2nd-3rd-Answersdocx/ FORMULATION EXAM: Introduction to Planning and Programming 1) Planning to support the FY 2019 budget request of the FY cycle would have begun in which FY? FY 2016 FY 2014 FY 2015 FY 2017 2) What is the impact of the Defense Planning Guidance (DPG) document with respect to fiscal guidance? It establishes a “top line” for each service by appropriation category It establishes program resources within OSD stated fiscal constraints. It establishes a balance set of programs that respond to the guidance and priorities set forth thus far in the PPBE process. It establishes a detailed and comprehensive description of the proposed programs, including a time-phased allocation of forces, funding, and manpower by program projected out five years. Contains 30 Questions (Attempt=1/3) FORMULATION EXAM: Introduction to Budgeting Exam 1) All of the following are responsibilities of the OSD Comptroller Staff with regard to budget exhibits, EXCEPT: Preparing the programs budget exhibits that go to Congress in support of the President's Budget submission Making adjustments to improve the efficiency of the budget request Reviewing exhibits submitted by Components for completeness, consistency, and adequacy of budget request justifications Looking across all DoD programs to identify duplication and inefficiencies 2) DoD funding policies are the ground rules, derived from Congressional direction, concerning the for various budget requests for various appropriations. Congressional language Programming Amount & timing Reclama 3) Which one of the following best describes the conditions under which a P-21 budget exhibit is required to be submitted? When an ACAT I program plans to award production contracts during the budget years(s) or has end items under contract that will not be delivered before the start of the first budget year When a procurement line item is an aggregation of different end items requiring funding of less than $5 million apiece When advance procurement funding is requested for a program that does NOT require specific authorization by Congress When the program element funding is $1 million or more in any budget year covered by the budget request 4) Which of the following is a principle player of the Budgeting phase? Program Review OSD (CAPE) Leads Vice Chairman of the Joint chiefs of Staff Under Secretary of Defense (Policy) Deputy Secretary of Defense 5) Which of the following information is displayed in the R-4 budget exhibit? Funding requirements for 1 or 2 budget years Narrative justification for each program element's budget request Timing of engineering milestones, acquisition approvals, test and evaluation events, and other key program milestones Detailed cost information for RDT&E projects grouped into 4 categories: Product Development, Support Costs, Test and Evaluation, and Management Services 6) Which one of the following best describes the conditions under which a P-1 budget exhibit is required to be submitted? When the line item funding is $5 million or more in any of the budget years covered by the budget request When it covers a weapon system modification program whose costs exceed $5 million in any year covered by the budget request When the program element funding is $1 million or more in any budget year covered by the budget request When any funding is requested under a particular Procurement appropriation 7) The President's Budget that is submitted to Congress on the first Monday in February is for fiscal year that will begin . Two years out Four years out The current fiscal year In eight months (i.e., 1 October) 8) Which of the following products of the Budgeting Phase are developed for the first budget year of a component's budget submission, which covers five fiscal years? Resource Management Decisions (RMD) Budget Review w/OSD-C and OMB Major Budget Issues (MBI) Component Budget Estimate Submissions (BES) 9) Which of the following are one of the primary inputs of the Budgeting Phase? Independent Cost Estimate (ICE) Component Budget Estimate Submission (BES) Defense Planning Guidance Budget Adjustment 10) Which one of the following best describes the conditions under which a P-40 budget exhibit is required to be submitted? When the P-1 Line Item for which a budget request of less than $10 million is reflected in the budget year, the current year, and the prior year of the P-1 Exhibit. When the P-1 Line Item for which a budget request of less than $5 million is reflected in the budget year, but greater than $5 million is in the current year, and the prior year of the P-1 Exhibit When the P-1 Line Item for which a budget request of less than $5 million is reflected in the budget year, the current year, and the prior year of the P-1 Exhibit. 11) Advanced Procurement funding information shown on the P-5 budget exhibit should be consistent with that shown on the budget exhibit. P-1 (Procurement Program) P-21 (Production Schedule) P-3a (Individual Modification) P-10 (Advanced Procurement Requirements Analysis) 12) Which of the following information is displayed in the P-5 budget exhibit? Contract award information for each applicable Work Breakdown Structure element Unit costs for flyaway cost elements Detailed Work Breakdown Structure elements and cost on advance procurement and modifications Production lead time for each end item 13) What is the purpose of the Financial Management Regulation, 7000.14-R? Provides authorization for major weapon system acquisition programs and military construction projects and establishes procurement quantity ceilings for major weapon systems. Direct statutory and regulatory financial management requirements, systems, and functions for all appropriated and non-appropriated, working capital, revolving, and trust fund activities. Authorizes the type and amounts of appropriations to support defense programs, sets military personnel end strength levels, and establishes policies pertaining to specific programs and to the defense establishment. 14) In late December, the Components revise their final budgets and begin preparing supporting documentation to incorporate the effects of all Resource Management Decisions (RMDs) for inclusion in the President's Budget. True False 15) Complete this statement: If a program is planning to award a production contract in FY 2018, the first opportunity to request that funds be set aside for this contract is the Integrated Program and Budget Submission. FY 17-21 FY 16-20 FY 14-18 FY 15-19 16) When is the President's Budget produced in the Budgeting Phase of PPBE cycle? February July/August Spring of each calendar year August-December 17) Which one of the following best describes the conditions under which an R-1 budget exhibit is required to be submitted? When any funding is requested under a particular RDT&E appropriation When the program element funding is $1 million or more in any budget year covered by the budget request When the program element is part of RDT&E budget activities 4, 5, or 7 When it covers a weapon system modification program whose costs exceed $5 million in any year covered by the budget request 18) Use the Table of Raw and Weighted Indexes and the Windows Calculator under Accessories to help select the correct answer. An item to be financed by Appropriation A cost $100M in constant FY13 dollars. The program will not be contracting for the item until FY18. What is the amount that should be budgeted for this item in FY18? 114.1100M 111.9800M 100.6600M 102.2300M 19) Which of the following is a significant issue of concern for the OSD Budget Analyst during review of budget justification documentation? Fiscal Year Raw Index (FY13 Base year) Weighted Index (FY13 Base Year) 2012 0.09833 1.0066 2013 1.0000 1.0223 2014 1.0130 1.0395 2015 1.0302 1.0585 2016 1.0488 1.0785 2017 1.0687 1.0990 2018 1.0890 1.1198 2019 1.1097 1.1411 System quality Program pricing Program milestones System support 20) constantly monitor activities during the budget review process, participate in budget hearings, and take action as necessary to obtain and provide information to defend their programs. The Service PPBE Action Officers OSD staff Congressional staff OMB analysts 21) Which one of the following best describes the conditions under which an R-3 budget exhibit is required to be submitted? When the program element is part of RDT&E budget activities 1, 2, 3, or 6 When any funding is requested under a particular RDT&E appropriation When it covers a weapon system modification program whose costs exceed $5 million in any year covered by the budget request When the program element is part of RDT&E budget activities 4, 5, or 7 22) Which of the following is a reason that acquisition programs may lose funding during the PPBE process? Questionable need for program Missing field level budget requests Lack of component level reviews Unsubstantiated component POM baseline 23) Which one of the following best describes the purpose of the R-2 budget exhibit? Provide budget justification for a particular RDT&E program element Provide detailed cost information for each project under a program element in RDT&E budget activities 3, 4, or 5 Summarize the funding requirements for a particular RDT&E appropriation account Provide a schematic display of major program milestones 24) All of the following are general rules for writing an Impact Statement EXCEPT: Assume your audience knows your program. Be brief, but include the facts. Use non-technical language and spell out acronyms first time used. Show operational impact ensuring impact is believable. 25) Which of the following statements is TRUE concerning the P-5a budget exhibit? It provides a tabular display of major program milestones It provides a listing of all items that will be purchased with advance procurement funds It supports the P-3a budget exhibit It covers all prior years having contracts with undelivered assets, the current year, and the budget year(s) 26) Perform a conversion to compare costs between the two programs below, to find out which is the more expensive program. (Use the Windows Calculator under Accessories to help select the correct answer.) Program A estimated cost in constant FY13 dollars: $15M Program B estimated cost in constant FY15 dollars: $15M FY 2013 Raw Index (Base Year 2013): 1.0000 FY 2015 Raw Index (Base Year 2013): 1.0302 Which program is more expensive? Program A Program B 27) Which of the following information is NOT displayed in the P-3a budget exhibit? Funding requirements for 4 out-years following the last budget year Funding requirements for the three years prior to the first budget year Production lead time for each end item Funding requirements for 1 or 2 budget years 28) If a Budget Activity 4,5, or 7 project meets certain spending criteria, budget exhibits are prepared to support the R-2 or R-2a: R-3 (Program Element/Project Cost Analysis) Fiscal Year Raw Index (FY13 Base year) 2012 0.9833 2013 1.0000 2014 1.0130 2015 1.0302 2016 1.0488 2017 1.0687 2018 1.0890 2019 1.1097 R-4a (RDT&E Schedule Detail) All of the answer choices are correct R-4 (Schedule Profile) 29) The Full Funding Policy applies to which of the following categories of appropriations? Select all that apply Military Construction Procurement Military Personnel Operations & Maintenance Research, Development, Test & Evaluation 30) Which one of the following best describes the purpose of the P-10 budget exhibit? The P-10 provides detail on each "ACAT I" program items listed on the P-21. The P-10 provides cost analysis details for line items listed on the P-1. The P-10 provides detail on each "Advance Procurement" line item that is on the P-1. The P-10 provides budget justification for the procurement-funded weapons system modifications programs Contains 5 Questions (Attempt=2/3) FORMULATION EXAM: Introduction to Budgeting Exam 1) Which one of the following best describes the conditions under which a P-5a budget exhibit is required to be submitted? When the line item funding is $5 million or more in any of the budget years covered by the budget request When the program element funding is $1 million or more in any budget year covered by the budget request When a P-5 budget exhibit is prepared for a line item When it covers a weapon system modification program whose costs exceed $5 million in any year covered by the budget request 2) Which one of the following best describes the conditions under which a P-40a budget exhibit is required to be submitted? When the line item is part of budget activities 4, 5, or 7 When the line item is an aggregation of different end items requiring funding of less than $5 million apiece When the line item covers advance procurement funds for a weapon system When the line item funding is $5 million or more in any of the budget years covered by the budget request 3) Which of the following products of the Budgeting Phase includes a thorough review of the budget submissions and the assimilation of the answers provided to the advance questions and those coming from the budget hearings? Resource Management Decisions (RMD) Major Budget Issues (MBI) Component Budget Estimate Submissions (BES) Budget Review w/OSD-C and OMB 4) The P-5 budget exhibit provides detailed cost information in a Work Breakdown Structure format to support the budget request for a particular Procurement line item summarized on the budget exhibit. P-40 (Budget Justification Sheet) WRONG P-1 (Procurement Program) P-21 (Production Schedule) P-5 (Weapon System Cost Analysis) 5) Perform a conversion to compare costs between the two programs below, to find out which is the more expensive program. (Use the Windows Calculator under Accessories to help select the correct answer.) Program A estimated cost in constant FY13 dollars: $14M Program B estimated cost in constant FY18 dollars: $20M FY 2013 Raw Index (Base Year 2013): 1.0000 FY 2018 Raw Index (Base Year 2013): 1.0890 Which program is more expensive? Program A Program B Contains 1 Questions (Attempt=3/3) FORMULATION EXAM: Introduction to Budgeting Exam 1) Some information items on the exhibits overlap and must be consistent between exhibits. Fiscal Year Raw Index (FY13 Base year) 2012 0.9833 2013 1.0000 2014 1.0130 2015 1.0302 2016 1.0488 2017 1.0687 2018 1.0890 2019 1.1097 P-5a (Procurement History and Planning) P-5 (Weapon System Cost Analysis) P-21 (Production Schedule) All of the answer choices are correct .com/file//BCF-110-Exam-5-ENACTMENT-1st-Attempt-Answers-1docx/ 20:32:04 .com/file//BCF-110-Exam-5-ENACTMENT-1st-Attempt-Answers-1docx/ 20:32:04 20:28:38 .com/file//BCF-110-Exam-6-Answers-to-2nd-Attemptdocx/ ENACTMENT EXAM Back to Status page contains 3 Questions 1) What authorizes the type and amounts of appropriations to support defense programs? The National Defense Authorization Act (NDAA) The Budget Estimate Submission (BES) The President's Budget (PB) The Committees of Appropriations 2) Which ONE of the following statements concerning the National Defense Authorization Act is true? It provides program approval It establishes spending ceilings for the fourteen major government functions It is a resolution, not a law It provides budget authority for all Program Element numbers 3) Which of the following provide DoD with budget authority? Select all that apply. (There are TWO correct answers.) Concurrent Resolution 20:28:38 .com/file//BCF-110-Exam-6-Answers-to-2nd-Attemptdocx/ Defense Appropriations Act National Defense Authorization Act Military Construction and Veterans Affairs Appropriations Act 20:33:54 .com/file//BCF-110-Exam-6-ENACTMENT-1st-Attemptdocx/ Contains 14 Questions (Attempt=1/3) ENACTMENT EXAM 1) Which one of the following is most likely to be found in the report accompanying the Defense Appropriations Act? Amount appropriated for a specific O&M budget activity Amount of revenue authorized for the coming fiscal year Personnel end strength quantities Procurement quantity ceilings for major weapon systems Wrong 6.3 2) What does the National Defense Authorization Act (NDAA) allow or authorize? (Select two.) Federal agencies with limited amounts of budget authority for the specific purposes identified in the act. Establishment of policies related to specific programs Congressional Committees to begin the Appeals process Procurement quantity ceilings for major weapon systems 3) The President's Budget requested $275 million for DoD's Bluebird Program. The House Appropriations Committee has decided to grant the Bluebird Program $250 million, while the Senate Appropriations Committee has decided to grant the Bluebird Program $240 million. At this point, DoD should appeal to: The Authorization Conference for $240 million The Appropriations Conference for $240 million The Appropriations Conference for $250 million The Authorization Conference for $250 million 4) Appropriations often differ from the authorized amounts. 20:33:54 .com/file//BCF-110-Exam-6-ENACTMENT-1st-Attemptdocx/ True False 5) True or False. No appropriation or authorization bill can be considered until the Congressional Budget Resolution (CBR) is passed. True False 6) Which ONE of the following statements concerning the National Defense Authorization Act is true? It establishes spending ceilings for the fourteen major government functions It provides budget authority for all Program Element numbers It provides program approval It is resolution, not a law 7) Appropriations and authorization bills may be considered, even if a Concurrent Resolution has not been passed, after this date: Memorial Day May 15th First Monday in February April 15th Wrong 8) The rates of obligation permitted under a Continuing Resolution usually limited and may impede timely execution of program efforts. True False 9) In order to spend funds for a new start project that was not included in the President's 20:33:54 .com/file//BCF-110-Exam-6-ENACTMENT-1st-Attemptdocx/ Budget (not a safety modification) that requires more than $10 million of funding, DoD must: Appeal to the Appropriations Conference Spend the funds during the period covered by a Continuing Resolution Obtain written approval from Congress before spending any funds Wait 30 days after providing letter notification to Congress, then may spend funds if no response has been received 10) Key staff and organizations provide support to Congress and its members. Match the staff function to its description. a) Personal Staff – Provides… b) Professional Staff – Drafts... c) Congressional Budget Office (CBO) – Provides fiscal… d) Government Accountability Office (GAO) – Examines… Examines agency financial accounts, federal program performance, and the economy and efficiency of government operations. Provides fiscal and economic analyses to aid the congressional committees in the establishment of national priorities and to make informed decisions about budget policy. Drafts legislative language, monitors compliance with legislative requirements, and reviews line-items and program element level detail in the President’s Budget. Provides constituent support services and may also support the congressional member with expert knowledge in the areas in which the congressional member has a particular interest. 11) Which one of the following situations would require a Continuing Resolution? An appropriations act provides less budget authority than was requested in the President’s Budget One or more appropriations acts have not been passed by the beginning of a new fiscal year 20:33:54 .com/file//BCF-110-Exam-6-ENACTMENT-1st-Attemptdocx/ The National Defense Authorization Act has not been passed by the beginning of a new fiscal year A Concurrent Resolution has not been passed by May 15th 12) Which of the following are most likely to be involved in the process that results in the National Defense Authorization Act? Select all that apply. (There are TWO correct answers.) Office of Management and Budget Senate Armed Services Committee House Appropriations Committee House Armed Services Committee 13) Which of the following statements concerning a Continuing Resolution is TRUE? Select all that apply. (There are TWO correct answers.) It is a law signed by the President It allows the execution of funds to start a project that was not justified to Congress in the President's Budget It provides budget authority for a limited period of time It provides a certain dollar amount of budget authority that must be spent by a certain date 14) Once the appropriation is approved through the Enactment process, who is responsible for allocating funds per the documented schedule? Government Accountability Office (GAO) Program Executive Offices (PEOs) Treasury Congressional Budget Office (CBO) 20:29:21 .com/file//BCF-110-Exam-6-Answers-to-1st-Attemptdocx/ ENACTMENT EXAM • Here is your test result.The dots represent the choices you have made. • The highlighted questions are the questions you have missed. • Remediation Accessed shows whether you accessed those links.'N' represents links not visited and 'Y' represents visited links. Back to Status page contains 14 Questions 1) Which one of the following grants permission for major acquisition programs and military construction projects to exist? [Recognize the Defense Authorization phase of the Congressional Enactment process.] National Defense Authorization Act Defense Appropriations Act President's Budget Concurrent Resolution 2) A final product of the Authorization Phase of the Congressional Enactment process is the National Defense Authorization Act (NDAA). [Recognize the purpose of the National Defense Authorization Act (NDAA).] [Remediation Accessed :N] False True 3) Which one of the following situations would require a Continuing Resolution? [Recognize when a Continuing Resolution is required.] One or more appropriations acts have not been passed by the beginning of a new fiscal year A Concurrent Resolution has not been passed by May 15th The National Defense Authorization Act has not been passed by the beginning of a new fiscal year 20:29:21 .com/file//BCF-110-Exam-6-Answers-to-1st-Attemptdocx/ An appropriations act provides less budget authority than was requested in the President’s Budget 4) Which of the following statements concerning a Continuing Resolution is TRUE? Select all that apply. (There are TWO correct answers.) [Recognize what a Continuing Resolution provides.] It allows the execution of funds to start a project that was not justified to Congress in the President's Budget It is a law signed by the President It provides budget authority for a limited period of time It provides a certain dollar amount of budget authority that must be spent by a certain date 5) The rates of obligation permitted under a Continuing Resolution usually limited and may impede timely execution of program efforts. [Identify the restrictions a Continuing Resolution places on program operations.] False True 6) Which of the following is considered to be a new start if it has not been previously justified by DoD and funded by Congress through the normal budget process? [Recognize when a program is considered to be a "New Start."] All of these are correct Program Modification Project 7) Who handles all Congressional issues, except those that pertain to Defense appropriations? [Identify the roles of key DoD and Service organizations that provide liaison to the Congressional committees during the budget enactment process.] Assistant Secretary of Defense for Legislative Affairs 20:29:21 .com/file//BCF-110-Exam-6-Answers-to-1st-Attemptdocx/ Undersecretary of Defense (Comptroller) Assistant Secretary for Financial Management and Comptroller (FM&C) 8) Once the appropriation is approved through the Enactment process, who is responsible for allocating funds per the documented schedule? [Identify the role the Treasury plays in the Congressional Enactment process.] Treasury Congressional Budget Office (CBO) Program Executive Offices (PEOs) Government Accountability Office (GAO) 9) The authorization phase of the congressional budget enactment process: [Recognize the Defense Authorization phase of the Congressional Budget Enactment process.] [Remediation Accessed :N] Involves the Armed Services Committees of the House and the Senate Was established by the Congressional Budget and Impoundment Control Act of 1974 Is required by the Constitution Provides budget authority for acquisition programs 10) Which one of the following statements concerning the Concurrent Resolution is FALSE? [Recognize the Budget Resolution phase of the Congressional Budget Enactment process.] It is a law signed by the President It provides guidance for both revenue and spending legislation It may provide guidance for up to ten years It must be passed in the same form by the House and the Senate 20:29:21 .com/file//BCF-110-Exam-6-Answers-to-1st-Attemptdocx/ 11) True or False. No appropriation or authorization bill can be considered until the Congressional Budget Resolution (CBR) is passed. [Recognize the relationship of the Budget Resolution process to the Authorization and Appropriation phases.] False True 12) Rules may be waived in suspense of the restrictions on appropriations for agencies and activities not authorized by law. [Recognize the relationship of the Defense Authorization process to the Appropriations phase.] True False 13) Which one of the following is most likely to be involved in the process that results in the Defense Appropriations Act? [Recognize the Appropriations phase of the Congressional Budget Enactment process.] [Remediation Accessed :N] Senate Appropriations Committee House Armed Services Committee Senate Budget Committee Congressional Budget Office 14) The President's Budget requested $619 million for DoD's Robotics Program. The House Appropriations Committee has decided to grant the Robotics Program $625 million, while the Senate Appropriations Committee has decided to grant the Robotics Program $610 million. DoD should now appeal to the: [Determine to whom and for what amount DoD may appeal committee marks under the general rule for appeals.] Appropriations Conference for $619 million Authorization Conference for $625 million Senate Appropriations Committee for $625 million House Armed Services Committee for $619 million • Here is your test result.The dots represent the choices you have made. • The highlighted questions are the questions you have missed. • Remediation Accessed shows whether you accessed those links.'N' represents links not visited and 'Y' represents visited links. EXECUTION EXAM: Apportionment, Documentation, and Fiscal Law contains 32 Questions 1) When resolving unmatched disbursements (UMDs), which UMDs receive first priority? [Identify the role the financial manager plays in resolving unmatched disbursements.] appropriations or funds specifically requested by OUSD(C) appropriations or funds in an overexpended or overobligated status appropriations, funds, or transactions that have caused or area anticipated to cause stop payment orders or create a negative balance condition within the next 60 days UMDs are not assigned a priority. They are addressed in the order in which they were discovered. 2) During the last two months of the fiscal year, what typically happens to unobligated funds? [Recognize funds issues and reconciliation problems associated with Fiscal Year Close-Out.] Unobligated funds are reissued to unfunded requirements. Unobligated funds are released back to the Treasury. Unobligated funds are held so they can be spent in the next fiscal year. 5) True or False. Because product improvements involve existing systems, versus the development of new systems, only the RDT&E appropriation may be used to finance the development and testing of the product improvement. [Identify the proper appropriation used to fund each of the three phases (development, production, and installation) of a product improvement effort.] [Remediation Accessed :N] Unobligated funds are reissued to other program offices within the Service. A review and analysis of contract payment system records Making adjustments to the contract payment or accounting system(s) records A review and analysis of adjustments to the contract payment or accounting system(s) records Once an error is discovered, wait 90 days before correcting reconciliation discrepancies 4) Which one of the following categories of appropriations should be used to fund a $780,000 purchase of land for a future building? [Identify the purpose(s) for which each of the major appropriation categories of interest to the defense acquisition community (RDT&E, Procurement, O&M, MILCON, and MILPERS) may be used.] Military Construction Operations & Maintenance Procureme nt Research, Development, Test & Evaluation Fals e True 3) What actions are taken during the contract reconciliation process? (Select two) [Identify the financial manager's role in the process of contract reconciliation.] [Remediation Accessed :N] 6) True or False. Labor expenses incurred as part of the production of a weapon system are categorized as investment costs. [Recognize the criteria for determining Expense and Investment Cost.] True Fals e 7) To be included in a business activity must meet criteria. [Identify the criteria in order for a business activity to be included in the Working Capital Fund.] a Working Capital Fund; four the Procurement appropriation category; three the President's Working Fund; two the Capital Investments Fund; four 8) Place these events in the correct order as they occur in the funds execution process: [Recognize the Funds Execution process.] Obligatio n Outla y Commitme nt Expenditur e 9) Your contractor complains that it has not been paid for an invoice submitted several months ago. Which one of the following is a potential cause of this problem? [Recognize the problems that may arise during the Funds Execution process.] Items or services cited in the invoice could not be verified by the Administrative Contracting Officer Disbursing Office matches the certified contractor payment request up to one or more existing obligations in the accounting system. DFAS Regional Finance Center failed to submit a voucher summary to the Treasury Procuring Contracting Officer delayed award of the contract due to a protest a NAVCOMPT Form 2275 - Order for Work and Services ("work ) request") b NAVCOMPT Form 2276 - Request for Contractual ) Procurement (RCP) c NAVCOMPT Form 2276A - Order for Work and Service/Direct ) Citation d DD Form 448 - Military Interdepartmental Purchase Request ) (MIPR) e Funding Authorization Document ) (FAD) Provides funding for both in house effort and commercial contracting, when issued as a "WX or PX." Only one funding document is required. Does not allow funds for in house efforts to be charged and funds cannot be passed to other activities Issued to DoD components to request material, supplies, and equipment whenever such requirements are satisfied through contracts placed with commercial enterprises A constraint on the use of this document is that at least 51% of the funds must be used to support in house effort with no more than 49% going to other activities or contractors Prepared by OUSD(C) analysts to release the initial allocation of funds to the Services and Defense Agencies 11) Match the funding document category to its description. [Differentiate between direct cite and reimbursable documents.] a Reimbursable ) Orders b Direct Cite ) Orders Does not require separate identification of the items in the order, or separate citation of the funds of the requiring DoD component. Costs related to these orders are not charged to the Working Capital Fund account. 10) Match the funding document with its description. [Identify the different types of incoming and outgoing funding documents (e.g., Service agreements, project orders, and economy act orders).] [Remediation Accessed :N] 13) Match the Fiscal Law to its description. [Recognize the three DoD fiscal laws by which financial managers abide.] [Remediation Accessed :N] 12) What information can be determined by reviewing a line of accounting (LOA)? Select three. [Recognize the key elements of a line of accounting.] Appropriati on Fiscal Year Service Designator Quantity (or number of units) Cost/Amoun t a Purpose ) Statute b Antideficiency ) Act c Bona Fide Needs ) Rule Funds appropriated may only be used to obtain goods for which a authentic need arises during the period of the appropriation’s availability to obligate Cannot obligate more budget authority than appropriated and may not do so before receiving the allotment Funds appropriated by Congress are only to be used for the programs and intention for which the appropriation was made. 14) A contract for a special piece of research and development equipment costing $200,000 was awarded using funds from an Operations and Maintenance appropriation. This action did not cause any formal subdivision of the Operations and Maintenance appropriation to be exceeded. This action most likely: (select one) [Identify violations of the Purpose Statute, the Antideficiency Act, and the Bona Fide Need Rule.] Violated the Purpose Statute Violated the Antideficiency Act 18) The distribution of funds by a Program Executive Office or Major Command Comptroller to Program Management Offices for execution is known as a(n): [Recognize how a defense acquisition program receives budget authority through the apportionment process.] [Remediation Accessed :N] Violated the Bona Fide Need Rule Did not violate any fiscal laws 15) True or False. Investigations into fiscal law violations are led by the Government Accountability Office (GAO). [Identify the concepts and resolution process for Fiscal Law violations.] True Fals e 16) True or False. Program Managers, not Financial Managers, are responsible for complying with fiscal laws. [Recognize the ethical responsibilities of Financial Managers.] Fals e True 17) True or False. Those who violate fiscal laws may face the following consequences: conviction of a criminal offense, written reprimands, reassignment, suspension without pay, fines, and imprisonment. [Recognize the consequences of ethics violations.] Fals e True Allotmen t Allocatio n Apportionme nt Suballocation 19) Which one of the following statements is true concerning both deferrals and rescissions? [Recall the rules for the use of the deferral and rescission provisions of the Budget and Impoundment Control Act of 1974.] Both are impoundments of funds Both are temporary delays in the execution of funds Both must be explicitly approved by Congress to permit funds to be withheld from execution Both must be explicitly disapproved by Congress to force funds to be released for execution Are prepared by the Program Management Offices Should always be coordinated with the regional Defense Finance and Accounting Service (DFAS) office Should reflect the most optimistic schedule for executing funds Should include as many fourth-quarter obligations and expenditures as possible to minimize the possibility of falling behind the execution plan 21) A program is likely to have its budget request adjusted during the Budgeting Phase of the PPBE, if it has repeatedly: [Recognize when and how an acquisition program may be impacted by unfavorable execution of its obligation and expenditure plans.] Failed to obligate at least 80% of its Procurement funds by the end of the first year of execution Failed to expend at least 95% of its RDT&E funds by the end of the first year of execution Failed to obligate 100% of its RDT&E funds by the end of the first year of execution 20) Obligation and expenditure plans: [Identify the purposes and contents of obligation plans and expenditure plans.] [Remediation Accessed :N] Failed to expend at least 90% of its Procurement funds by the end of the first year of execution Earned Value to date by Work Breakdown Structure element Estimated termination costs Amount obligated on the contract Forecast of billings to the government 23) Moving funds into or out of a program that has been designated as a "special interest" by one or more of the Congressional committees requires: [Recognize the various categories of reprogramming, including the approval authorities and the types of reprogramming actions covered by each category.] Congressional prior approval reprogramming Congressional notification reprogramming Internal reprogramming Below-threshold reprogramming 24) Which of the following is true concerning below-threshold reprogrammings in Military Construction appropriations? [Identify the threshold amounts and level of control for each appropriation category for below-threshold reprogramming.] The amount added to an existing Project must be less than $2 million or 25% of the project's original value, whichever is lower The amount added to an existing Program element must be less than $10 million or 25% of the PE`s original value, whichever is lower 22) Which of the following information is NOT provided on the Contract Funds Status Report (CFSR)? [Identify the purpose and contents of the Contract Funds Status Report (CFSR).] [Remediation Accessed :N] The amount added to an existing Line Item must be less than $20 million The amount taken from an existing Line Item must be less than $20 million or 20% of the Line Item`s original value, whichever is less 25) Time now is November 2014 (FY 15). Which of the following appropriations is CANCELLED at this time? Select all that apply. (Three correct answers) [Identify when an appropriation is current, expired, or cancelled.] FY 2007 Aircraft Procurement, Navy FY 2008 Military Construction, DefenseWide FY 2009 Operations & Maintenance, Army FY 2008 RDT&E, Army 26) A current appropriation may be used to: (select all that apply) (THREE correct answers) [Recognize the rules governing the use of funds during each of the three phases of an appropriation’s life-cycle.] Pay bills related to a cancelled appropriation of the same type, up to 2% of the current appropriation amount or the unliquidated balance of the cancelled appropriation, whichever is less Adjust obligations previously made against it Make new obligations Make payments to liquidate obligations made against it 27) $150,000 was committed in February for a research and development contract to be awarded in May. Unfortunately, the lowest bid received by the Procuring Contracting Officer was $200,000. According to the rules governing commitments: (select one) [Recognize the DoD rules governing commitments.] The original commitment amount must be increased to $200,000 before the obligation can be recorded The $200,000 obligation for the contract award can be recorded without adjusting the original commitment amount A new commitment for an additional $200,000 should be recorded The official who authorized the original commitment need not take any action $80,000 of FY 2015 O&M funds $330,000 of FY 2015 O&M funds $330,000 of FY 2014 O&M funds $80,000 of FY 2014 O&M funds 29) True or False. During the Mid-Year review process, programs are adjusted/reprogrammed as necessary. [Recognize the purpose of Mid-Year reviews.] True Fals e 30) True or False. Per DFAS guidance, program offices should continuously monitor financial activity to ensure financial transactions are valid and correctly recorded in a timely manner, such as commitments, obligations, expenses, and disbursements. [Identify the financial manager's role in reconciling Monthly and End-of-Year reports to DFAS data.] Fals e True 28) In March 2014, $250,000 of FY 2014 O&M funds were used to finance an equipment maintenance contract running from April 2014 to March 2015. In January 2015, the government and the contractor agreed to an out-of-scope contract modification that increased the contract cost by $80,000. The correct obligation transaction covering this contract modification is: (select one) [Recognize the DoD rules governing obligations.] [Remediation Accessed :N] 31) What are the responsibilities of the FM during the Triannual Review (TAR)? Select three. [Identify the responsibilities of the financial manager in the Triannual Review (TAR) process.] review and reconcile accounts payable balances provide data on Unfulfilled Customer Orders(UFCO) and accounts receivable reconcile contract payments and incomplete travel orders identify dormant commitments and unliquidated obligations that are eligible for close out 32) True or False. Unliquidated balances in expired accounts that are not supported by documentary evidence, must be delobligated after closure/cancellation. [Identify the role the financial manager plays in deobligating funds.] True Fals e 20:34:41 .com/file//BCF-110-EXAM-9-Answers-EXECUTION-Apportionment-Documentation-and-Fiscal-Law-1st-Attemptdocx/ EXECUTION EXAM: Apportionment, Documentation, and Fiscal Law • Here is your test result.The dots represent the choices you have made. • The highlighted questions are the questions you have missed. • Remediation Accessed shows whether you accessed those links.'N' represents links not visited and 'Y' represents visited links. Back to Status page contains 32 Questions 1) True or False. Financial managers resolve unmatched disbursements (UMDs) by conducting research and implementing corrective actions. [Identify the role the financial manager plays in resolving unmatched disbursements.] False True 2) True or False. During the last two months of the fiscal year, appropriation sponsors conduct intense effort to pull back unobligated funds and reissue to other unfunded requirements. [Recognize funds issues and reconciliation problems associated with Fiscal Year Close-Out.] True False 3) Financial managers performing contract reconciliation will compare databases, research differences, and . [Identify the financial manager's role in the process of contract reconciliation.] identify root causes make system and process adjustments to resolve issues ensure those involved in errors are dismissed manage the daily operations of contract reconciliations 20:34:41 .com/file//BCF-110-EXAM-9-Answers-EXECUTION-Apportionment-Documentation-and-Fiscal-Law-1st-Attemptdocx/ 4) Which appropriation category should be used to fund the purchase of 100 heavy-lift transport aircraft? [Identify the purpose(s) for which each of the major appropriation categories of interest to the defense acquisition community (RDT&E, Procurement, O&M, MILCON, and MILPERS) may be used.] Procurement Military Construction Military Personnel Research, Development, Test, and Evaluation 5) If the product modification increases the performance of the system, which appropriation category(ies) is/are used to fund the development, test & evaluation of the product improvement? [Identify the proper appropriation used to fund each of the three phases (development, production, and installation) of a product improvement effort.] RDT&E Procurement; O&M O&M O&M; RDT&E 6) Match the appropriation to the type of cost - Expense or Investment or both. [Recognize the criteria for determining Expense and Investment Cost.] a) MILPERS; O&M b) MILCON; Procurement c) RDT&E Investment Expense and Investment Expense 7) What are the criteria required for a business activity to be included in a Working Capital Fund? Select three. [Identify the criteria in order for a business activity to be included in the Working Capital Fund.] Must leverage the goods and services from other business activities that are included 20:34:41 .com/file//BCF-110-EXAM-9-Answers-EXECUTION-Apportionment-Documentation-and-Fiscal-Law-1st-Attemptdocx/ in a Working Capital Fund Must require its customers to change cost structures in order to meet demands Must have an accounting system capable of collecting the costs of production and assigning these costs to appropriate outputs Must produce identifiable outputs that serve DoD agency requirements Must be able to clearly identify its customers and align its resources to best meet customer requirements 8) Use of the appropriate type (color) of funds is usually checked in which step of the funds execution process? [Recognize the Funds Execution process.] Funds certification Antideficiency Act review Invoice certification None of these are correct 9) Your contractor complains that it has not been paid for an invoice submitted several months ago. Which one of the following is a potential cause of this problem? [Recognize the problems that may arise during the Funds Execution process.] Items or services cited in the invoice could not be verified by the Administrative Contracting Officer Disbursing Office matches the certified contractor payment request up to one or more existing obligations in the accounting system. DFAS Regional Finance Center failed to submit a voucher summary to the Treasury Procuring Contracting Officer delayed award of the contract due to a protest 10) Which funding document can be used to extend the expiration date of an appropriation when issued as a "project order?" [Identify the different types of incoming and outgoing funding documents (e.g., Service agreements, project orders, and economy act orders).] NAVCOMPT Form 2275 – Order for Work and Services NAVCOMPT Form 2276 – Request for Contractual Procurement 20:34:41 .com/file//BCF-110-EXAM-9-Answers-EXECUTION-Apportionment-Documentation-and-Fiscal-Law-1st-Attemptdocx/ Funding Authorization Document (FAD) DD Form 448 – Military Interdepartmental Procurement Request (MIPR) 11) Match the funding document category to its description. [Differentiate between direct cite and reimbursable documents.] a) Reimbursable Order