BCF 110 EXAM 9 Questions and answers 2023

(Attempt=1/3) EXECUTION EXAM: Apportionment, Documentation, and Fiscal Law 1) Upon violation of a fiscal law, a formal investigation is conducted that includes the Government Accountability Office (GAO) and Congressional Committees. True False 2) A program is likely to have its budget request adjusted during the Budgeting Phase of the PPBE, if it has repeatedly: Failed to obligate at least 80% of its Procurement funds by the end of the first year of execution Failed to expend at least 90% of its Procurement funds by the end of the first year of execution Failed to obligate 100% of its RDT&E funds by the end of the first year of execution Failed to expend at least 95% of its RDT&E funds by the end of the first year of execution 3) Use of the appropriate type (color) of funds is usually checked in which step of the funds execution process? None of these are correct Invoice certification Antideficiency Act review Funds certification 4) Funds in the following types of appropriation accounts are not required to use commitment accounting: (select all that apply)(There are TWO correct answers) Procurement Military Personnel RDT&E Operations and Maintenance 5) Which of the following statements concerning the Contract Funds Status Report (CFSR) is FALSE? 7.5 The CFSR, or DD Form 1586, is designed to supply funding data about defense contracts to Program Managers for: (a) updating and forecasting contract funds requirements, (b) planning and decision making on funding changes to contracts, (c) developing funds requirements and budget estimates in support of approved programs, This study source was downloaded by from CourseH on 08-01-2023 02:49:14 GMT -05:00 (d) determining funds in excess of contract needs and available for de-obligation, and (e) obtaining rough estimates of termination costs. It has also been identified for being used to determine if sufficient funds are available by fiscal year to execute the contract. Contracts over 6 months in duration and $1.5 million dollars are required to have a CFSR Information on the CFSR can be used to determine whether funds can be deobligated from the contract A CFSR may be tailored to delete requirements from its Data Item Description Forecasted billings to the government shown in CFSR block 13 can be used to estimate the amount and timing of expenditures for the program`s spending plans A CFSR is always required for contracts valued at less than $1 million (constant FY 1990 dollars) 6) The unliquidated balance of a cancelled appropriation: (select one answer only) Is added to a merged account May not be used to pay any bills May be used to pay bills on the original obligation May be used to make new obligations 7) Your contractor complains that it has not been paid for an invoice submitted several months ago. Which one of the following is a potential cause of this problem? Disbursing Office matches the certified contractor payment request up to one or more existing obligations in the accounting system. Procuring Contracting Officer delayed award of the contract due to a protest DFAS Regional Finance Center failed to submit a voucher summary to the Treasury Items or services cited in the invoice could not be verified by the Administrative Contracting Officer 8) DoD policy requires that obligations be recorded: No more than 60 days after an invoice is submitted for payment At the time a commitment is recorded No more than 10 days after a legal obligation is incurred When a procurement request is sent to a contracting officer 9) Match the funding document category to its description. a) Reimbursable Orders This study source was downloaded by from CourseH on 08-01-2023 02:49:14 GMT -05:00 b) Direct Cite Orders A Does not require separate identification of the items in the order, or separate citation of the funds of the requiring DoD component. B Costs related to these orders are not charged to the Working Capital Fund account. 10) An internal reprogramming action: May be used to move funds to and from "transfer accounts" such as the Environmental Restoration, Army account May be used to increase the appropriated amount of an RDT&E program element by $10 million or more Must be approved by Congress May be used to redirect funds to a different purpose than authorized or appropriated by Congress 11) Which appropriation category should be used to fund the purchase of 100 heavy-lift transport aircraft? Military Personnel Research, Development, Test, and Evaluation Procurement Military Construction 12) True or False. The definition of when a bona fide need arises is fixed. Therefore, it does NOT depend on the government's requirements nor the nature of the product or service to be acquired. True False 13) An obligation plan: Is required for each item on the Work Breakdown Structure (WBS) Forecasts when the program office will obligate funds Is prepared for all current and expired funds managed by the Program Office Forecasts when the program office will authorize payments to contractors 14) During the Mid-Year review process, why is it important to identify programs whose funds are not being spent as forecast? so funds can be reprogrammed as needed so programs can be cancelled or suspended until the next fiscal year so ineffective program offices and be re-resourced with a more experienced staff