FOB105 FM Body of Knowledge (FMBOK) Exam Questions and Answers Latest Update 2025 Graded A+
Comptroller Squadron - Answers In a typical wing structure, who is responsible for the use of wing
financial services for military and civilian personnel?
Operations Group - Answers The ____________ operates the wing's primary mission weapons system.
Regulates the daily consumption of resources - Answers Which is a function of a Cost Center Manager
(CCM)?
Manages the budget, cost, and accounting functions for the base - Answers Which is a function of the
Financial Management Analysis (FMA) Officer?
FMB (Financial Management Board) - Answers 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 - Answers The _____________ is the Chairperson of the Financial
Working Group (FWG).
Group Commanders - Answers In a typical wing organization, Responsibility Center Managers (RCMs) are
usually _____________.
Resource Management System - Answers The ______________ provides a way to establish priorities,
choose policies, and act to get the desired results and required resources at an acceptable cost.
Squadron - Answers Cost Center Managers (CCMs) are usually at the _____________ level.
Base/unit level operations activities - Answers The Financial Working Group (FWG) manages
commodities and resources integral to:
Legislative Authority - Answers "The established rule that is expenditure of public funds is proper only
when authorized by Congress," describes:
Congress - Answers _____________ has the ability to appropriate funds to be spent by the federal
government.
Purpose, Time, and Amount - Answers The three main elements that must be reviewed and we must
ensure are properly examined before funds are obligated are:
Necessary Expense Rule - Answers 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 - Answers 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 - Answers A(n) ________________ appropriation is to remain available until expended without
fiscal year limitation.
Congress - Answers Under the "Seperation of Powers" doctrine, ________________ has the final word
on how much money can be spent by given agency or program.
True - Answers The ADA imposes prohibitions (fiscal controls) at three levels: Appropriation Level,
Apportionment Level, Formal Subdivision Level.
False - Answers The Anti Deficiency Act Principles sate that you can receive services without paying for
them as a benefit to the government.
Anti-Deficiency Act - Answers The _____________ prohibits against over obligating or overspending on
an appropriation.
Legal, proper, and correct - Answers Responsibilities for voucher certification include verifying that the
payment is __________, __________, and _______-.
Funds are for the intent authorized - Answers Legal for the purpose of voucher certification means that:
Funds are appropriated for payment - Answers Proper for the purpose of voucher certification means
that:
Indicates the name, address, and computed dollar amount as accurate - Answers A voucher is
considered correct if it:
True - Answers Pecuniary liability means you can be held financially responsible for illegal, improper, or
incorrect payments.
Knowledge of what is legal, proper, and correct - Answers Which of these is not one of the 4 basic
qualifications to be appointed a Certifying Officer:
DD Form 577 - Answers Accountable Officials (AOs) must be appointed by completing the:
True - Answers A travel order approving official is an Accountable Official (AO).
Negligence - Answers ____________ is the failure to act as a reasonably prudent person would act
under similar circumstances.
$5000 - Answers The civil penalty for Accountable Officials (AOs) according to 31 U.S.C. 3802 is not more
than ___________ and twice the full amount of the erroneous payment.
Comptroller Squadron - Answers In a typical wing structure, who is responsible for the use of wing
financial services for military and civilian personnel?
Operations Group - Answers The ____________ operates the wing's primary mission weapons system.
Regulates the daily consumption of resources - Answers Which is a function of a Cost Center Manager
(CCM)?
Manages the budget, cost, and accounting functions for the base - Answers Which is a function of the
Financial Management Analysis (FMA) Officer?
FMB (Financial Management Board) - Answers 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 - Answers The _____________ is the Chairperson of the Financial
Working Group (FWG).
Group Commanders - Answers In a typical wing organization, Responsibility Center Managers (RCMs) are
usually _____________.
Resource Management System - Answers The ______________ provides a way to establish priorities,
choose policies, and act to get the desired results and required resources at an acceptable cost.
Squadron - Answers Cost Center Managers (CCMs) are usually at the _____________ level.
Base/unit level operations activities - Answers The Financial Working Group (FWG) manages
commodities and resources integral to:
Legislative Authority - Answers "The established rule that is expenditure of public funds is proper only
when authorized by Congress," describes:
Congress - Answers _____________ has the ability to appropriate funds to be spent by the federal
government.
Purpose, Time, and Amount - Answers The three main elements that must be reviewed and we must
ensure are properly examined before funds are obligated are:
Necessary Expense Rule - Answers 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 - Answers 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 - Answers A(n) ________________ appropriation is to remain available until expended without
fiscal year limitation.
Congress - Answers Under the "Seperation of Powers" doctrine, ________________ has the final word
on how much money can be spent by given agency or program.
True - Answers The ADA imposes prohibitions (fiscal controls) at three levels: Appropriation Level,
Apportionment Level, Formal Subdivision Level.
False - Answers The Anti Deficiency Act Principles sate that you can receive services without paying for
them as a benefit to the government.
Anti-Deficiency Act - Answers The _____________ prohibits against over obligating or overspending on
an appropriation.
Legal, proper, and correct - Answers Responsibilities for voucher certification include verifying that the
payment is __________, __________, and _______-.
Funds are for the intent authorized - Answers Legal for the purpose of voucher certification means that:
Funds are appropriated for payment - Answers Proper for the purpose of voucher certification means
that:
Indicates the name, address, and computed dollar amount as accurate - Answers A voucher is
considered correct if it:
True - Answers Pecuniary liability means you can be held financially responsible for illegal, improper, or
incorrect payments.
Knowledge of what is legal, proper, and correct - Answers Which of these is not one of the 4 basic
qualifications to be appointed a Certifying Officer:
DD Form 577 - Answers Accountable Officials (AOs) must be appointed by completing the:
True - Answers A travel order approving official is an Accountable Official (AO).
Negligence - Answers ____________ is the failure to act as a reasonably prudent person would act
under similar circumstances.
$5000 - Answers The civil penalty for Accountable Officials (AOs) according to 31 U.S.C. 3802 is not more
than ___________ and twice the full amount of the erroneous payment.
