CDFM All Modules FISCAL LAW Exam
100% Updated!!
T/F? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act? -
ANSWER FALSE
Agencies are responsible for maintaining a system of accounting and internal controls to avoid
violations of the? - ANSWER 31 USC 1341, 1342, and 1517 ADA
The 2 provisions of the US Constitution that provide the underpinning for the budget process are? -
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? - ANSWER FALSE
The penalty for willfully and knowingly violating the Anti Deficiency Act is? - 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? - 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)? - ANSWER Cancelled
Over-obligations of apportionments, allotments or other subdivision of funds are a violation of? -
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? - 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? - ANSWER OMB
,Acceptance of voluntary service is a violation of? - 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? - ANSWER
Chapters 13 and 15, 31 USC
The 3 Dimensions of Budget Resource Availability are? - 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? - ANSWER Congressional Prior
Approval
T/F? For expired accounts recoveries of prior year obligations are available for new obligations
incurred in current year? - 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? - ANSWER
Budgetary Accounting
______ is (are) the authority provided by Federal law to incur financial obligations that will result in
immediate or future outlays. - ANSWER Budget Authority
Are the reduction or cancellation of new budget authority; unobligated balances, new loan
guarantee commitments or limitations? - ANSWER Sequestration appropriations
A footnote to apportionments should specify that, "Pursuant to 31 USC 1553(b) not the exceed 1% of
the total appropriations for this account is apportioned for the purpose of paying legitimate
obligations related to canceled appropriations" This is called the? - ANSWER One Percent
Requirement
Is any organizational, functional, programmatic, or other applicable subdivision, used to delineate
responsibilities under management control assessment procedures? - ANSWER Assessable Unit
The time frame for investigations of potential violations of the Anti deficiency Act, including
submission of the final report to the Under Secretary of Defense Comptroller is? - ANSWER 9
months
, 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? - ANSWER Authorization
T/F? For no year and unexpired multiyear contracts, apportioned recoveries of prior year obligations
are available for new obligations? - ANSWER TRUE
Is the shift from one purpose or activity to another within the same appropriations? - ANSWER
Reprogramming
Is the shift from one purpose or activity to another between different appropriations? - ANSWER
Transfer
The Package that lists all of the reprogramming actions and all sources and increases is the? -
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)? -
ANSWER Allocations
The issuance of Treasury Warrants are the _____ ______ action taken after the President signs the
bill into law? - ANSWER 1st legal
The formal program management control was established in DoD with the? - ANSWER Federal
Managers Financial Integrity Act of 1982
T/F? One goal of the Federal Managers Integrity Act is to establish internal controls that make it
easier to determine misuse and waste of agency funds or property and to assure the accountability
of assets? - ANSWER TRUE
Establishes guidelines for reviewing internal controls? - ANSWER Director OMB
100% Updated!!
T/F? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act? -
ANSWER FALSE
Agencies are responsible for maintaining a system of accounting and internal controls to avoid
violations of the? - ANSWER 31 USC 1341, 1342, and 1517 ADA
The 2 provisions of the US Constitution that provide the underpinning for the budget process are? -
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? - ANSWER FALSE
The penalty for willfully and knowingly violating the Anti Deficiency Act is? - 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? - 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)? - ANSWER Cancelled
Over-obligations of apportionments, allotments or other subdivision of funds are a violation of? -
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? - 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? - ANSWER OMB
,Acceptance of voluntary service is a violation of? - 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? - ANSWER
Chapters 13 and 15, 31 USC
The 3 Dimensions of Budget Resource Availability are? - 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? - ANSWER Congressional Prior
Approval
T/F? For expired accounts recoveries of prior year obligations are available for new obligations
incurred in current year? - 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? - ANSWER
Budgetary Accounting
______ is (are) the authority provided by Federal law to incur financial obligations that will result in
immediate or future outlays. - ANSWER Budget Authority
Are the reduction or cancellation of new budget authority; unobligated balances, new loan
guarantee commitments or limitations? - ANSWER Sequestration appropriations
A footnote to apportionments should specify that, "Pursuant to 31 USC 1553(b) not the exceed 1% of
the total appropriations for this account is apportioned for the purpose of paying legitimate
obligations related to canceled appropriations" This is called the? - ANSWER One Percent
Requirement
Is any organizational, functional, programmatic, or other applicable subdivision, used to delineate
responsibilities under management control assessment procedures? - ANSWER Assessable Unit
The time frame for investigations of potential violations of the Anti deficiency Act, including
submission of the final report to the Under Secretary of Defense Comptroller is? - ANSWER 9
months
, 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? - ANSWER Authorization
T/F? For no year and unexpired multiyear contracts, apportioned recoveries of prior year obligations
are available for new obligations? - ANSWER TRUE
Is the shift from one purpose or activity to another within the same appropriations? - ANSWER
Reprogramming
Is the shift from one purpose or activity to another between different appropriations? - ANSWER
Transfer
The Package that lists all of the reprogramming actions and all sources and increases is the? -
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)? -
ANSWER Allocations
The issuance of Treasury Warrants are the _____ ______ action taken after the President signs the
bill into law? - ANSWER 1st legal
The formal program management control was established in DoD with the? - ANSWER Federal
Managers Financial Integrity Act of 1982
T/F? One goal of the Federal Managers Integrity Act is to establish internal controls that make it
easier to determine misuse and waste of agency funds or property and to assure the accountability
of assets? - ANSWER TRUE
Establishes guidelines for reviewing internal controls? - ANSWER Director OMB
