CDFM MODULE 3 Exam (Latest 2023/ 2024 Update) Complete Exam with 400+ Real Questions and Verified Answers| 100% Correct| Guaranteed Grade A

CDFM MODULE 3 Exam (Latest 2023/ 2024 Update) Complete Exam with 400+ Real Questions and Verified Answers| 100% Correct| Guaranteed Grade A Q: When funds were provided to begin a program or project in the middle of a fiscal year, you need to what? Answer: annualize the funds to determine the current rate. Q: If $1 billian was provided in an R&D appropriation last year and $750 million was obligated as of the end of the prior fiscal year, the amount of the appropriation under the continuing resolution would be? Answer: $750 million Q: Most continuing resolutions contain provisions restricting what? Answer: new starts Q: Who is an Accountable Individual? Answer: Departmental Accountable Official (*DAO*) Certifying Officer (*CO*) Disbursing Officer (*DO*) Others Q: An ___ is any Government officer or employee who, by the reason of his or her employment, is responsible for or has custody of Government funds. Answer: accountable individual Q: A ___ is a Government officer or employee whose job is or includes certifying vouchers for payment and has no public funds in his/her possession. Answer: certifying officer Q: A certifying officer has the statutory right (31 USC___) to seek and obtain an advance decision from the Comptroller General regarding the lawfulness of any payment. Answer: 3529 Q: For DoD, the advance decision authority has been delegated to who? Answer: DoD General Counsel Q: Relief of Accountable Individual is covered by 31 USC ___ & ___ Answer: 3527 & 3528 Q: What does the relief in 31 USC 3527 & 3528 cover? Answer: Physical Loss Illegal, Incorrect, or Improper Payments Q: Relief from Physical Loss includes Answer: - SECDEF determines that the official was carrying out official duties when the loss occurred - The loss was not the results of an illegal, improper, or incorrect payment - The loss was not the result of fault or negligence of the official Q: Relief from Illegal, Incorrect, or Improper Payment includes Answer: - Payment was not the result of bad faith or lack of reasonable care - The certification or payment was based on official records - No law specifically prohibited the payment - The US Government received value for the payment Q: What happens if the SECDEF determines that all the ADA relief criteria has been met? Answer: The Comptroller General must grant relief and cannot overrule the determination by DoD Q: What is the Statute of Limitations for ADA? Answer: 3 years for errors No time limit for fraud Q: ___ is an existing condition, situation, or set of circumstances involving uncertainty as to possible gain or loss to an entity that will ultimately be resolved when one or more future events occur or fail to occur. Answer: Contingency Q: ___ permits an agency to obligate funds in advance of appropriations. Answer: Contract Authority Q: ___ is the dollar amount of appropriations used to fund goods and services received or benefits or grants provided. Answer: Expended Appropriations Q: Expenditures = Answer: Outlays Q: Outflows or other using up of assets or incurrences of liabilities during a period from providing goods, rending services, or carrying out other activities related to an entity's programs and missions, the benefit from which do not extend beyond the present operating period. Answer: