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COMPETENCY 1 FISCAL LAW QUESTIONS WITH CORRECT ANSWERS

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COMPETENCY 1 FISCAL LAW QUESTIONS WITH CORRECT ANSWERS

Institution
Fiscal Law
Course
Fiscal Law

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Exceptions to the ADA violation of Voluntary Services (31 USC 1342) are:


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- If the level of compensation is discretionary AND the compensation can
be set at zero, THEN an appointment without compensation is permissible.

- A service offered clearly and distinctly as gratuitous with a proper record
made of that fact does not violate this statute against acceptance of
voluntary service.




What type of budgetary resources remains available for new obligations for more
than one fiscal year?


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, Multi-year authority




What appropriations act that permits an agency to continue operations of the
previous year at a specific level of funding for a specific period of time?


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Continuing Resolution




The reduction or cancellation of new budget authority; un-obligated balances, new
loan guarantee commitments or limitations; etc.


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Sequestration




In the Department of Defense, final decisions of fiscal law questions are "officially"
rendered by whom?


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DoD General Counsels, Courts




This act authorizes an agency head to recognize superior performance with awards of
cash, time off, or merchandise, and to incur expenses determined necessary to

, enhance the recognition of the awardee.


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The Incentive Awards Act (5 USC 4503)




The legislative authorities outlining the use of government monies are amplified and
clarified by whom?


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The courts and the Comptroller General of the United States




When production lead-time of the material requires obligation in one fiscal year in
order for the material to be available for installation in a later fiscal year.


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Lead-time exception (to Bona Fide Needs Rule)




Under the Statute of Limitations, the accounts of accountable officers must be settled
by GAO within how many years?


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Three (3) years

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Institution
Fiscal Law
Course
Fiscal Law

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Uploaded on
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Number of pages
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Written in
2025/2026
Type
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