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> BFM 2000 Applied Acquisition Financial Management Exam >
Review Questions
Test results are summarized below. Change the view to see only Correct or Incorrect questions.
Review Test Questions
View: All Questions Correct Questions Incorrect Questions (15 Results)
ID Question Correct
You are the lead BFM on Project TITAN and have realized that you have a funding
shortfall. Given that you have read the Acquisition Program Baseline (in particular, the
209878 Correct
key performance parameters), what is the best option for staying in alignment with Cost
as an Independent Variable policy (CAIV)?
Answer: The Authorization Act does not need to be enacted.
Explanation:
• Budget authority (BA) is provided by an Appropriations Act. Once the President
signs the appropriations bill, BA is created for the Treasury account.
• After enactment, Treasury issues an appropriation warrant and OMB apportions
the funds; then DoD allocates/allots them down to the programs before
obligations can be made.
• An Authorization Act (e.g., the NDAA) is NOT required to receive BA.
Authorizations permit/guide programs and may set ceilings, but they do not
provide the legal budget authority—the appropriations do.
Prior to a milestone review, the GOLIATH program discovers that a Nunn-McCurdy cost
breach is expected to occur with respect to its Program Acquisition Unit Cost (PAUC).
221635 correct
Over the next thirty days, the GOLIATH Program Manager will most likely be required to
do which of the following? (Select three.)
A. Inform the HASC and SASC
B. Notify the component leadership
D. Submit a Program Deviation Report (PDR)
It is August 2021. For your new program, you are in charge of the Research,
Development, Test & Evaluation (RTD&E) funds. For you to receive your funding, when
221727 correct
should each of the components provide OUSD(C) their Budget Estimate Submission
(BES)?