CDFM Module 3 Exam Questions and Answers Already Passed Latest Update 2025

CDFM Module 3 Exam Questions and Answers Already Passed Latest Update 2025 Federal appropriations law can be categorized into which three topical areas? - Answers Purpose, Time and Amount In the Department of Defense, final decision of fiscal law questions are "officially" rendered by whom? - Answers DoD General Counsel, Courts What are the basic types of budget authority used in the Federal Government? - Answers Appropriations Contract Authority Borrowing Authority Monetary Credits Offsetting Collections and Receipts Loan and Loan Guarantee Authority Annual appropriations remain available for new obligations for how long? - Answers They normally remain available for new obligations for ONE fiscal year Operation and Maintenance (O&M) is an example of what type of appropriation - Answers Annual appropriation RDT&E is an example of what type of appropriation? - Answers Multi-year appropriation Budget authority does not expire in what type of appropriation? - Answers No-year appropriation Article 1, Section 9, of the U.S. Constitution gives the power to appropriate funds for operating the Government to which branch of the Government? - Answers Legislative Branch (Congress) Which law established the House and the Senate Budget Committees and the Congressional Budget Office (CBO)? - Answers Congressional Budget Act of 1974 What are the three tests that must be met for use of Necessary Expense doctrine? - Answers Must bear a logical relationship, not prohibited by law, not funded elsewhere Who are determined to be accountable individuals in the DoD? - Answers Certifying and Disbursing Officers and Departmental Accountable Officials Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? - Answers DFAS What type of budgetary resources remain available for new obligations for more than one fiscal year? - Answers Multi-year authority What type of budgetary resources remains available for new obligations until the purpose for which they were provided is carried out? - Answers No-year authority What type of Congressional resolution can be thought of as a temporary appropriations act? - Answers Continuing resolution If a Contracting Officers signs a contract in advance of an appropriation, what type of violation ahs occurred? - Answers Anti Deficiency Act Violation What agency apportions funds for working capital fund? - Answers OMB What are the four major functions in DoD Finance? - Answers Entitlements, Payments, Collections, Control of Public Funds What is the primary organization in DoD with the responsibility for Finance requirements? - Answers DFAS What is the acronym for disbursing office identification number? - Answers DSSN What three primary types of officials are accountable Individuals in the DoD? - Answers Certifying Officers, Disbursing Officers, Departmental Accountable Officials Debt collection incudes collection of debts from what three groups? - Answers Current Employees and Military Members, Former Employees and Military Members, Vendors What is the normal collection method for debts owed by active military members and civilian employees who are still in service? - Answers Salary Offset When collecting debts owed by vendors that have failed to properly respond to the demand letters, what is the next step? - Answers Do Not Pay List When in doubt about the proper use of an appropriation, what may the disbursing officer request from the OSD General Counsel on the propriety of the prospective payment? - Answers An advance decision To what, along with accountability, does certification equate? - Answers Liability Who, besides the disbursing officer, is likely to be held accountable for an improper payment? - Answers The Certifying Officer If a civilian employee receives less than 90% of his or her normal biweekly pay and allowances, what may he or she request? - Answers Special Pay When a civilian employee moves from a job overseas to a job in the states, which organization pays for the Permanent Duty Travel? - Answers The "losing" activity (the OCONUS activity) Name the supporting documents required in the DoD Payment Package. - Answers Contract Invoice Proof of Receipt Acceptance Document Name two key forms that provide accountability and control by Disbursing Officers - Answers Standard Form 1219 Statement of Accountability (monthly), DD Form 2657, Daily Statement of Accountability Which individuals hold personal and pecuniary liability for their actions in financial transactions? - Answers Certifying Officers, Disbursing Officers, and Departmental Accountable Officials How often does the disbursing officer need to inspect and document office security measures? - Answers Semi-Annually The Budget and Accounting act of 1921 established the GAO (Legislative Branch) to audit financial transactions of which branch of the government? - Answers Executive Branch The GPRA requires agencies to define goals, set performance targets, and report what? - Answers Actual Performance Any enforceable agreement between an agency and a business concern for the acquisition of property or services is called what? - Answers A Contract What term is used to describe Federal Government funds that have been paid but have not yet been identified to a specific organization? - Answers Undistributed Disbursements What term is used in SFFAS #4 t describe the process of accumulating, measuring, analyzing, interpreting, and reporting cost? - Answers Managerial Cost Accounting What are the two self-balancing sets of accounts in the U.S. Government Standard General Ledger (USSGL) - Answers Budgetary and Proprietary In proprietary accounting, assets equal liabilities plus what? - Answers Net Position The aggregate amount of an entity's funds in the Treasury is in what account? - Answers Fund Balance with Treasury PP&E defines tangible assets with an estimated useful life of more than what number of years? - Answers Two years What is the Statement of Budgetary Resources equation? - Answers Budgetary Resources=Status of Budgetary Resources Which financial statement shows the components of the net cost of the reporting entity's operation for the period? - Answers Statement of Net Cost