CDFM FISCAL LAW EXAM QUESTIONS
WITH CORRECT ANSWERS
T/F? A working capital (Revolving) fund or part of that fund cannot
| | | | | | | | | | | |
violate the Anti Deficiency Act? - CORRECT ANSWER✔✔-FALSE
| | | | | | |
Agencies are responsible for maintaining a system of accounting and
| | | | | | | | | |
internal controls to avoid violations of the? - CORRECT ANSWER✔✔-31
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USC 1341, 1342, and 1517 ADA
| | | | |
The 2 provisions of the US Constitution that provide the underpinning
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for the budget process are? - CORRECT ANSWER✔✔-Article 1 Section 8
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clause 1, Article 1 Section 9 clause 7
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T/F? Article 2 section 8 empowers Congress to collect taxes and Section
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9 requires appropriations in law before money can be spent from the
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Treasury? - CORRECT ANSWER✔✔-FALSE | | |
The penalty for willfully and knowingly violating the Anti Deficiency Act
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is? - CORRECT ANSWER✔✔-Up to 2 years and a $5,000 fine or both
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,Over obligation of an appropriation or funds and obligations or
| | | | | | | | | |
contracts in advance of an appropriation is a violation of? - CORRECT
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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)? - CORRECT ANSWER✔✔-Cancelled | | | | |
Over-obligations of apportionments, allotments or other subdivision of
| | | | | | | |
funds are a violation of? - CORRECT ANSWER✔✔-31 USC 1517
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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? - CORRECT ANSWER✔✔-TRUE
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It is the responsibility of the _____ to review and approve the agency
| | | | | | | | | | | | |
systems of administrative control of funds to prevent violations of the
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Anti-Deficiency Act? - CORRECT ANSWER✔✔-OMB | | | |
Acceptance of voluntary service is a violation of? - CORRECT
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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? - CORRECT
| | | | | | | | | |
ANSWER✔✔-Chapters 13 and 15, 31 USC | | | | |
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? - CORRECT ANSWER✔✔-
| | | | | | | | |
Authorization
T/F? For no year and unexpired multiyear contracts, apportioned
| | | | | | | | |
recoveries of prior year obligations are available for new obligations? -
| | | | | | | | | | |
CORRECT ANSWER✔✔-TRUE |
Is the shift from one purpose or activity to another within the same
| | | | | | | | | | | | |
appropriations? - CORRECT ANSWER✔✔-Reprogramming | | |
Is the shift from one purpose or activity to another between different
| | | | | | | | | | | |
appropriations? - CORRECT ANSWER✔✔-Transfer | | |
The Package that lists all of the reprogramming actions and all sources
| | | | | | | | | | | |
and increases is the? - CORRECT 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)? - CORRECT
| | | | | | | | | | | | | |
ANSWER✔✔-Allocations
The issuance of Treasury Warrants are the _____ ______ action taken
| | | | | | | | | | |
after the President signs the bill into law? - CORRECT ANSWER✔✔-1st
| | | | | | | | | | |
legal
The 3 Dimensions of Budget Resource Availability are? - CORRECT
| | | | | | | | | |
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? -
| | | | | | | |
CORRECT ANSWER✔✔-Congressional Prior Approval
| | |
T/F? For expired accounts recoveries of prior year obligations are
| | | | | | | | | |
available for new obligations incurred in current year? - CORRECT
| | | | | | | | | |
ANSWER✔✔-FALSE
The system that measures and controls the use of the resources
| | | | | | | | | | |
according to the purposes for which budget authority was enacted and
| | | | | | | | | | |
WITH CORRECT ANSWERS
T/F? A working capital (Revolving) fund or part of that fund cannot
| | | | | | | | | | | |
violate the Anti Deficiency Act? - CORRECT ANSWER✔✔-FALSE
| | | | | | |
Agencies are responsible for maintaining a system of accounting and
| | | | | | | | | |
internal controls to avoid violations of the? - CORRECT ANSWER✔✔-31
| | | | | | | | | |
USC 1341, 1342, and 1517 ADA
| | | | |
The 2 provisions of the US Constitution that provide the underpinning
| | | | | | | | | | |
for the budget process are? - CORRECT 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? - CORRECT ANSWER✔✔-FALSE | | |
The penalty for willfully and knowingly violating the Anti Deficiency Act
| | | | | | | | | | |
is? - CORRECT 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? - CORRECT
| | | | | | | | | | | |
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)? - CORRECT ANSWER✔✔-Cancelled | | | | |
Over-obligations of apportionments, allotments or other subdivision of
| | | | | | | |
funds are a violation of? - CORRECT 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? - CORRECT 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? - CORRECT ANSWER✔✔-OMB | | | |
Acceptance of voluntary service is a violation of? - CORRECT
| | | | | | | | | |
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? - CORRECT
| | | | | | | | | |
ANSWER✔✔-Chapters 13 and 15, 31 USC | | | | |
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? - CORRECT ANSWER✔✔-
| | | | | | | | |
Authorization
T/F? For no year and unexpired multiyear contracts, apportioned
| | | | | | | | |
recoveries of prior year obligations are available for new obligations? -
| | | | | | | | | | |
CORRECT ANSWER✔✔-TRUE |
Is the shift from one purpose or activity to another within the same
| | | | | | | | | | | | |
appropriations? - CORRECT ANSWER✔✔-Reprogramming | | |
Is the shift from one purpose or activity to another between different
| | | | | | | | | | | |
appropriations? - CORRECT ANSWER✔✔-Transfer | | |
The Package that lists all of the reprogramming actions and all sources
| | | | | | | | | | | |
and increases is the? - CORRECT 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)? - CORRECT
| | | | | | | | | | | | | |
ANSWER✔✔-Allocations
The issuance of Treasury Warrants are the _____ ______ action taken
| | | | | | | | | | |
after the President signs the bill into law? - CORRECT ANSWER✔✔-1st
| | | | | | | | | | |
legal
The 3 Dimensions of Budget Resource Availability are? - CORRECT
| | | | | | | | | |
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? -
| | | | | | | |
CORRECT ANSWER✔✔-Congressional Prior Approval
| | |
T/F? For expired accounts recoveries of prior year obligations are
| | | | | | | | | |
available for new obligations incurred in current year? - CORRECT
| | | | | | | | | |
ANSWER✔✔-FALSE
The system that measures and controls the use of the resources
| | | | | | | | | | |
according to the purposes for which budget authority was enacted and
| | | | | | | | | | |
