FAC1601 BOARD EVALUATION 2026
GUARANTEED PASS ANSWERS GRADED A+
● If there is an erroneous payment, then: Answer: The Certifying
Officer is presumed negligent and the accountable official has the
burden of proof
● 31 U.S.C. 3802 sets the pecuniary liability limit to a civil penalty:
Answer: Of not more than $5,000 and twice the full amount of the
erroneous payment
● The appropriation section of this fund cite best relates to which fiscal
concept, in the above example? Answer: Purpose
● What does the highlighted 2-digit number represent in the above
example? Answer: Fund code
● In an accounting classification, what does the Element of
Expense/Investment Code represent? Answer: Resource consumption for
a particular commodity
● This resource contains listings of EEICs, RC/CCs, accounts
receivable sales codes, accounting action and post codes, and many
other data elements Answer: Financial Management Data Dictionary
, ● Which level includes all the details of an accounting classification
resulting in a unique fund citation? Answer: Fund summary records
(FSRs)
● When Congress hasn't passed the new fiscal years Appropriation Act
by the start of the new fiscal year, what does SAF/FMB provide that
allows Air Force activities to spend money pending the passing of the
DoD Appropriations Act? Answer: Continuing Resolution Authority
(CRA)
● Which of the following is true? Answer: Floors are minimum amounts
you can spend on a particular program by the end of the period of
availability
● From an accounting and funds control perspective, which are the best
examples of what you would do in the implementation and evaluation
steps of the decision making process? Answer: Both ensure correct fund
cite is on commitment/obligation documents and track expenditures and
compare them to projections
● The Financial Management Board (FMB) and the Financial Working
Group (FWG) implement a quarterly phased plan that allows the FMA
office to distribute funds to: Answer: Responsibility center managers,
who in turn, distribute the funds to cost center manager
GUARANTEED PASS ANSWERS GRADED A+
● If there is an erroneous payment, then: Answer: The Certifying
Officer is presumed negligent and the accountable official has the
burden of proof
● 31 U.S.C. 3802 sets the pecuniary liability limit to a civil penalty:
Answer: Of not more than $5,000 and twice the full amount of the
erroneous payment
● The appropriation section of this fund cite best relates to which fiscal
concept, in the above example? Answer: Purpose
● What does the highlighted 2-digit number represent in the above
example? Answer: Fund code
● In an accounting classification, what does the Element of
Expense/Investment Code represent? Answer: Resource consumption for
a particular commodity
● This resource contains listings of EEICs, RC/CCs, accounts
receivable sales codes, accounting action and post codes, and many
other data elements Answer: Financial Management Data Dictionary
, ● Which level includes all the details of an accounting classification
resulting in a unique fund citation? Answer: Fund summary records
(FSRs)
● When Congress hasn't passed the new fiscal years Appropriation Act
by the start of the new fiscal year, what does SAF/FMB provide that
allows Air Force activities to spend money pending the passing of the
DoD Appropriations Act? Answer: Continuing Resolution Authority
(CRA)
● Which of the following is true? Answer: Floors are minimum amounts
you can spend on a particular program by the end of the period of
availability
● From an accounting and funds control perspective, which are the best
examples of what you would do in the implementation and evaluation
steps of the decision making process? Answer: Both ensure correct fund
cite is on commitment/obligation documents and track expenditures and
compare them to projections
● The Financial Management Board (FMB) and the Financial Working
Group (FWG) implement a quarterly phased plan that allows the FMA
office to distribute funds to: Answer: Responsibility center managers,
who in turn, distribute the funds to cost center manager
