FOB105 FM BODY OF KNOWLEDGE
(FMBOK) QUESTIONS AND ANSWERS
WITH SOLUTIONS 2024
Comptroller Squadron - ANSWER In a typical wing structure, who is responsible for the use of wing
financial services for military and civilian personnel?
Operations Group - ANSWER The ____________ operates the wing's primary mission weapons system.
Regulates the daily consumption of resources - ANSWER Which is a function of a Cost Center Manager
(CCM)?
Manages the budget, cost, and accounting functions for the base - ANSWER Which is a function of the
Financial Management Analysis (FMA) Officer?
FMB (Financial Management Board) - ANSWER The ______________ includes top-level managers, with
membership tailored to the type of organization structure involved to determine priorities and ensure
effective allocation of resources
Financial Management Analysis Officer - ANSWER The _____________ is the Chairperson of the Financial
Working Group (FWG).
Group Commanders - ANSWER In a typical wing organization, Responsibility Center Managers (RCMs) are
usually _____________.
Resource Management System - ANSWER The ______________ provides a way to establish priorities,
choose policies, and act to get the desired results and required resources at an acceptable cost.
Squadron - ANSWER Cost Center Managers (CCMs) are usually at the _____________ level.
Base/unit level operations activities - ANSWER The Financial Working Group (FWG) manages
commodities and resources integral to:
, Legislative Authority - ANSWER "The established rule that is expenditure of public funds is proper only
when authorized by Congress," describes:
Congress - ANSWER _____________ has the ability to appropriate funds to be spent by the federal
government.
Purpose, Time, and Amount - ANSWER The three main elements that must be reviewed and we must
ensure are properly examined before funds are obligated are:
Necessary Expense Rule - ANSWER To apply reasonable discretion and flexibility, the Government
Accountability Office (GAO) developed the concept known as the _______________ which consists of a
three-part test.
True - ANSWER The bona fida needs rule, as it pertains to supplies, states that generally. agencies must
obligate funds from the fiscal year in which the supplies is if you are maintaining a stock of commonly
used supplies (inventory), you are permitted to replenish those stocks using current funding even if you
may not use those supplies until the following fiscal year to avoid an interruption of operations.
No-year - ANSWER A(n) ________________ appropriation is to remain available until expended without
fiscal year limitation.
Congress - ANSWER Under the "Seperation of Powers" doctrine, ________________ has the final word
on how much money can be spent by given agency or program.
True - ANSWER The ADA imposes prohibitions (fiscal controls) at three levels: Appropriation Level,
Apportionment Level, Formal Subdivision Level.
False - ANSWER The Anti Deficiency Act Principles sate that you can receive services without paying for
them as a benefit to the government.
Anti-Deficiency Act - ANSWER The _____________ prohibits against over obligating or overspending on
an appropriation.
(FMBOK) QUESTIONS AND ANSWERS
WITH SOLUTIONS 2024
Comptroller Squadron - ANSWER In a typical wing structure, who is responsible for the use of wing
financial services for military and civilian personnel?
Operations Group - ANSWER The ____________ operates the wing's primary mission weapons system.
Regulates the daily consumption of resources - ANSWER Which is a function of a Cost Center Manager
(CCM)?
Manages the budget, cost, and accounting functions for the base - ANSWER Which is a function of the
Financial Management Analysis (FMA) Officer?
FMB (Financial Management Board) - ANSWER The ______________ includes top-level managers, with
membership tailored to the type of organization structure involved to determine priorities and ensure
effective allocation of resources
Financial Management Analysis Officer - ANSWER The _____________ is the Chairperson of the Financial
Working Group (FWG).
Group Commanders - ANSWER In a typical wing organization, Responsibility Center Managers (RCMs) are
usually _____________.
Resource Management System - ANSWER The ______________ provides a way to establish priorities,
choose policies, and act to get the desired results and required resources at an acceptable cost.
Squadron - ANSWER Cost Center Managers (CCMs) are usually at the _____________ level.
Base/unit level operations activities - ANSWER The Financial Working Group (FWG) manages
commodities and resources integral to:
, Legislative Authority - ANSWER "The established rule that is expenditure of public funds is proper only
when authorized by Congress," describes:
Congress - ANSWER _____________ has the ability to appropriate funds to be spent by the federal
government.
Purpose, Time, and Amount - ANSWER The three main elements that must be reviewed and we must
ensure are properly examined before funds are obligated are:
Necessary Expense Rule - ANSWER To apply reasonable discretion and flexibility, the Government
Accountability Office (GAO) developed the concept known as the _______________ which consists of a
three-part test.
True - ANSWER The bona fida needs rule, as it pertains to supplies, states that generally. agencies must
obligate funds from the fiscal year in which the supplies is if you are maintaining a stock of commonly
used supplies (inventory), you are permitted to replenish those stocks using current funding even if you
may not use those supplies until the following fiscal year to avoid an interruption of operations.
No-year - ANSWER A(n) ________________ appropriation is to remain available until expended without
fiscal year limitation.
Congress - ANSWER Under the "Seperation of Powers" doctrine, ________________ has the final word
on how much money can be spent by given agency or program.
True - ANSWER The ADA imposes prohibitions (fiscal controls) at three levels: Appropriation Level,
Apportionment Level, Formal Subdivision Level.
False - ANSWER The Anti Deficiency Act Principles sate that you can receive services without paying for
them as a benefit to the government.
Anti-Deficiency Act - ANSWER The _____________ prohibits against over obligating or overspending on
an appropriation.
