CDFM Exam 3 With Correct Answers
2023
Who are determined to be accountable individuals for the DoD? - Answer Certifying
& Disbursing Officers & DAOs
If a contracting officer signs a contract in advance of an appropriation, what type of
violation has occurred? - Answer ADA
What are the 4 major functions in DoD Finance? - Answer Entitlements, Payments,
Collections, Control of Public Funds
What 3 primary types of officials are accountable individuals in the DoD? - Answer
Certifying & Disbursing Officers & DAOs
When collecting debts owed by vendors that have failed to properly respond to
demand letters, what is the next step? - Answer Do not pay list
If a civilian employee receives less than 90% of his/her pay and allowances, what
may he/she request? - Answer Special Pay
When a civilian employee PCSs from OCONUS to CONUS, who pays? - Answer
OCONUS Activity
How often does the disbursing officer need to inspect and document office security
measures? - Answer Semi-annually
What are the two self-balancing sets of accounts in the USGSGL? - Answer
Budgetary and Proprietary
In proprietary accounting, assets equal liabilities plus what? - Answer Net position
The aggregate amount of an entity's funds in the Treasury is in what account? -
Answer Fund Balance with Treasury
PP&E defines tangible assets with an estimated useful life of more than what
number of years? - Answer 2
Which three federal agencies established the FASAB? - Answer GAO, Treasury &
OMB
What is the Federal law that specifically required existing CFO agencies to have
financial statements that successfully pass a financial audit? - Answer The
Government Management Reform Act of 1994
In which of the four waves of the FIAR process would a DoD entity expect to have an
auditable statement of budgetary resources? - Answer Wave 2
Government audits provide essential elements of public accountability and what? -
Answer Control
, CDFM Exam 3 With Correct Answers
2023
Which standards generally apply to all Federal Government audits - Answer GAO
Standards or GAGAS
Who conducts, supervises, monitors and initiates audits and investigations relating to
DoD programs and operations? - Answer DoD IG
Which is the DoD Document that provides policy for DoD audit and internal review
offices to use for conducting audits of DoD operations, systems, program and
functions? - Answer DoD IG Audit Handbook
Auditors auditing with personal impairments violate which general standard? -
Answer Independence
How many CPEs must an auditor complete every 2 years? What's the minimum per
year? - Answer
The auditor is restricted access to essential data necesssary to satisfy the audit
objective. What type of impairment would this be? - Answer External
Which type of audit is expected to determine financial information is presented... -
Answer Financial Audit
Which type of audit is expected to determine whether...(no mention of finance) -
Answer Performance Audit
During what audit phase would the auditor select the most important areas for audit
coverage? - Answer Planning
What is the name of the GAO standard that provides reasonable assurance that DoD
auditors comply with applicable auditing standards and DoD audit policies? - Answer
Quality Control and Assurance
What term is used to describe Federal Government funds that have been paid out
but have not yet been identified to a specific organization? - Answer Undistributed
Disbursements
What DoD accounting entity maintains a central general ledger? - Answer DFAS
What are the supporting documents required in the DoD Payment Package? -
Answer Contract
Invoice
Proof of Receipt
Acceptance Document
What law established the House & Senate Budget Committees and the CBO? -
Answer The congressional budget act of 1974
2023
Who are determined to be accountable individuals for the DoD? - Answer Certifying
& Disbursing Officers & DAOs
If a contracting officer signs a contract in advance of an appropriation, what type of
violation has occurred? - Answer ADA
What are the 4 major functions in DoD Finance? - Answer Entitlements, Payments,
Collections, Control of Public Funds
What 3 primary types of officials are accountable individuals in the DoD? - Answer
Certifying & Disbursing Officers & DAOs
When collecting debts owed by vendors that have failed to properly respond to
demand letters, what is the next step? - Answer Do not pay list
If a civilian employee receives less than 90% of his/her pay and allowances, what
may he/she request? - Answer Special Pay
When a civilian employee PCSs from OCONUS to CONUS, who pays? - Answer
OCONUS Activity
How often does the disbursing officer need to inspect and document office security
measures? - Answer Semi-annually
What are the two self-balancing sets of accounts in the USGSGL? - Answer
Budgetary and Proprietary
In proprietary accounting, assets equal liabilities plus what? - Answer Net position
The aggregate amount of an entity's funds in the Treasury is in what account? -
Answer Fund Balance with Treasury
PP&E defines tangible assets with an estimated useful life of more than what
number of years? - Answer 2
Which three federal agencies established the FASAB? - Answer GAO, Treasury &
OMB
What is the Federal law that specifically required existing CFO agencies to have
financial statements that successfully pass a financial audit? - Answer The
Government Management Reform Act of 1994
In which of the four waves of the FIAR process would a DoD entity expect to have an
auditable statement of budgetary resources? - Answer Wave 2
Government audits provide essential elements of public accountability and what? -
Answer Control
, CDFM Exam 3 With Correct Answers
2023
Which standards generally apply to all Federal Government audits - Answer GAO
Standards or GAGAS
Who conducts, supervises, monitors and initiates audits and investigations relating to
DoD programs and operations? - Answer DoD IG
Which is the DoD Document that provides policy for DoD audit and internal review
offices to use for conducting audits of DoD operations, systems, program and
functions? - Answer DoD IG Audit Handbook
Auditors auditing with personal impairments violate which general standard? -
Answer Independence
How many CPEs must an auditor complete every 2 years? What's the minimum per
year? - Answer
The auditor is restricted access to essential data necesssary to satisfy the audit
objective. What type of impairment would this be? - Answer External
Which type of audit is expected to determine financial information is presented... -
Answer Financial Audit
Which type of audit is expected to determine whether...(no mention of finance) -
Answer Performance Audit
During what audit phase would the auditor select the most important areas for audit
coverage? - Answer Planning
What is the name of the GAO standard that provides reasonable assurance that DoD
auditors comply with applicable auditing standards and DoD audit policies? - Answer
Quality Control and Assurance
What term is used to describe Federal Government funds that have been paid out
but have not yet been identified to a specific organization? - Answer Undistributed
Disbursements
What DoD accounting entity maintains a central general ledger? - Answer DFAS
What are the supporting documents required in the DoD Payment Package? -
Answer Contract
Invoice
Proof of Receipt
Acceptance Document
What law established the House & Senate Budget Committees and the CBO? -
Answer The congressional budget act of 1974
