CDFM Training Module 1 Exam Questions
And Answers
Options -
correct answer ✅Which is NOT a remedy to avoid conflict in
financial disclosure?
Authorized by Defense Finance and Accounting Services (DFAS). -
correct answer ✅Under section 1501(a) (1), an amount shall be
recorded as an obligation of the United States Government only
when supported by documentary evidence of EXCEPT:
Pursuant to 31 U.S.C. 1342, agencies have broad discretion in
determining operations which protect life and property, so that
these operations may continue -
correct answer ✅Which of the following statements is NOT true
about funding gaps?
Becomes law. -
correct answer ✅If Congress is in session and a bill is NOT signed
by the President in 10 days it:
The goal of the A-76 process is to improve economy and
productivity without regard to whether any activities are ultimately
outsourced. -
,CDFM Training Module 1 Exam Questions
And Answers
correct answer ✅Which of the statements is true about the A-76
process?
Different appropriations and their uses -
correct answer ✅The term "color of money" refers to:
Risk assessment -
correct answer ✅Which of the GAO Standards for Internal Control
in the Federal Government serves as a basis for establishing clearly
defined mission and organizational objectives to ensure
compliance?
Conference committee. -
correct answer ✅The "third house of Congress" refers to the:
5-
correct answer ✅How many standards are there in the GAO
Standards of Internal Control?
There is no specific procedure -
correct answer ✅What is the specific procedure for requesting a
decision from the Comptroller General?
, CDFM Training Module 1 Exam Questions
And Answers
An assessable unit should be a subdivision of an organization that
ensures a reasonable span of management control to allow for
adequate control analysis. -
correct answer ✅Which statement about assessable units is true?
Cause, Probability, Consequence -
correct answer ✅When developing effective Enterprise Risk
Management (ERM) systems, what are the key attributes required
within the DoD Program Office Element (POE) risks?
Termination for convenience of the government because the
original contractor would not accept a contract modification -
correct answer ✅A comptroller is asked to place FY18 funds on a
new contract being awarded in FY19. It will be a cost plus award fee
contract providing a management study on certain business
practices in the organization. The same study was contracted for in
December 2017, but was terminated prior to completion. Which
termination reason would require use of FY19 funds for the
replacement contract?
And Answers
Options -
correct answer ✅Which is NOT a remedy to avoid conflict in
financial disclosure?
Authorized by Defense Finance and Accounting Services (DFAS). -
correct answer ✅Under section 1501(a) (1), an amount shall be
recorded as an obligation of the United States Government only
when supported by documentary evidence of EXCEPT:
Pursuant to 31 U.S.C. 1342, agencies have broad discretion in
determining operations which protect life and property, so that
these operations may continue -
correct answer ✅Which of the following statements is NOT true
about funding gaps?
Becomes law. -
correct answer ✅If Congress is in session and a bill is NOT signed
by the President in 10 days it:
The goal of the A-76 process is to improve economy and
productivity without regard to whether any activities are ultimately
outsourced. -
,CDFM Training Module 1 Exam Questions
And Answers
correct answer ✅Which of the statements is true about the A-76
process?
Different appropriations and their uses -
correct answer ✅The term "color of money" refers to:
Risk assessment -
correct answer ✅Which of the GAO Standards for Internal Control
in the Federal Government serves as a basis for establishing clearly
defined mission and organizational objectives to ensure
compliance?
Conference committee. -
correct answer ✅The "third house of Congress" refers to the:
5-
correct answer ✅How many standards are there in the GAO
Standards of Internal Control?
There is no specific procedure -
correct answer ✅What is the specific procedure for requesting a
decision from the Comptroller General?
, CDFM Training Module 1 Exam Questions
And Answers
An assessable unit should be a subdivision of an organization that
ensures a reasonable span of management control to allow for
adequate control analysis. -
correct answer ✅Which statement about assessable units is true?
Cause, Probability, Consequence -
correct answer ✅When developing effective Enterprise Risk
Management (ERM) systems, what are the key attributes required
within the DoD Program Office Element (POE) risks?
Termination for convenience of the government because the
original contractor would not accept a contract modification -
correct answer ✅A comptroller is asked to place FY18 funds on a
new contract being awarded in FY19. It will be a cost plus award fee
contract providing a management study on certain business
practices in the organization. The same study was contracted for in
December 2017, but was terminated prior to completion. Which
termination reason would require use of FY19 funds for the
replacement contract?
