CDFM ALL MODULES FISCAL LAW 2024 QUESTIONS AND ANSWERS PASSED AND VERIFIED.

T/F? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act? - CORRECT ANSWER FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the? - CORRECT ANSWER 31 USC 1341, 1342, and 1517 ADA The 2 provisions of the US Constitution that provide the underpinning for the budget process are? - CORRECT ANSWER Article 1 Section 8 clause 1, Article 1 Section 9 clause 7 T/F? Article 2 section 8 empowers Congress to collect taxes and Section 9 requires appropriations in law before money can be spent from the Treasury? - CORRECT ANSWER FALSE The penalty for willfully and knowingly violating the Anti Deficiency Act is? - CORRECT ANSWER Up to 2 years and a $5,000 fine or both Over obligation of an appropriation or funds and obligations or contracts in advance of an appropriation is a violation of? - CORRECT ANSWER 31 USC 1341a ________ appropriations is (are) no longer available for adjustments or payments any adjustments will be charged to current same appropriation (1% max)? - CORRECT ANSWER Cancelled Over-obligations of apportionments, allotments or other subdivision of funds are a violation of? - CORRECT ANSWER 31 USC 1517 T/F? Not knowingly or willfully committing a violation of the Anti-Deficiency Act does not, by itself, justify a decision to not impose disciplinary action against the individual? - CORRECT ANSWER TRUE It is the responsibility of the _____ to review and approve the agency systems of administrative control of funds to prevent violations of the Anti-Deficiency Act? - CORRECT ANSWER OMB Acceptance of voluntary service is a violation of? - CORRECT ANSWER 31 USC 1342 Prescribe rules and procedures for budget execution. Many of the specific provisions were previously enacted as Section 3679 of the revised statutes also known as the Anti-Deficiency Act? - CORRECT ANSWER Chapters 13 and 15, 31 USC The Basic substantive legislation enacted by Congress that sets up or continues the legal operation of a Federal program or agency either indefinitely or for a specific time frame or sanctions a particular type of obligation or expenditure within a program is? - CORRECT ANSWER Authorization T/F? For no year and unexpired multiyear contracts, apportioned recoveries of prior year obligations are available for new obligations? - CORRECT ANSWER TRUE Is the shift from one purpose or activity to another within the same appropriations? - CORRECT ANSWER Reprogramming Is the shift from one purpose or activity to another between different appropriations? - CORRECT ANSWER Transfer The Package that lists all of the reprogramming actions and all sources and increases is the? - CORRECT ANSWER Omnibus Reprogramming Request The amount of obligational authority transferred from one agency bureau or account that is set aside in a transfer appropriation account to carry out the purpose of the parent appropriation is a (n)? - CORRECT ANSWER Allocations The issuance of Treasury Warrants are the _____ ______ action taken after the President signs the bill into law? - CORRECT ANSWER 1st legal The 3 Dimensions of Budget Resource Availability are? - CORRECT ANSWER Purpose, Time and Amount ______is required for reprogramming that result in increases in procurement quantities of major program end items, changes to Congressional Interest Items in an Authorization Act, movement of funds between appropriations involving General Transfer Authority? - CORRECT ANSWER Congressional Prior Approval T/F? For expired accounts recoveries of prior year obligations are available for new obligations incurred in current year? - CORRECT ANSWER FALSE The system that measures and controls the use of the resources according to the purposes for which budget authority was enacted and that records receipts and other collections by source? - CORRECT ANSWER Budgetary Accounting