PMT 360 Exam 4 Solved 100% Correct
A __________ occurs when a reprogramming action results in movement of budget
authority from one appropriation to another - ANSWER-Transfer
Appropriation Life Cycle - During the 5 year period when funds are "expired," they retain
their accounting identity and are available to pay expenditures and make adjustments to
previous obligations, but they (are/are not) available for any new obligations? -
ANSWER-are not
Appropriation Life Cycle - If voucher submitted outside the period for which program
funds are in expired status must be paid with? - ANSWER-Current Approprations
Are O&M and MILPERs costs are considered ______? - ANSWER-Expenses
Does the Full Funding Policy require the total procurement quantity desired over the
entire life of the program to be budgeted in any one single fiscal year? - ANSWER-It
does not
Example of MILPERS - ANSWER-- Pay
- Allowances
- Special pays
- PCS
- Retirement accrual
Examples of O&M Funding - ANSWER-- Civilian & contractor labor
- Rental charges
- Food, clothing, fuel
- Maintenance, repair & overhaul of equipment (except when funded by investment)
- Assemblies, spares and repair parts, and other items of equipment that are not
centrally controlled and have system unit cost of less than $100K
- Real property maintenance
For a Full Funding Policy what are cost considered? - ANSWER-Investments
For Budgeting Purposes - What should funding for each fiscal year be sufficient to
procure? - ANSWER-Complete and useable end items
For the DOD Financial Management Regulation Requirement, why is the identification
of the total estimated cost of that program is required? - ANSWER-So "Congress and
the public can be fully aware of the dimensions and cost when the program is first
presented in the budget"
, Full Funding - Do deliveries have to begin the year the contract was signed? -
ANSWER-No - They can begin in following fiscal years. Only funding can be used for
items that the government can take possession of can be used. The use of second/third
contracts (or options) allow this. The rest can be deferred to later years.
Full Funding - Does the government have to take possession of items in the same FY
that the contract was awarded? - ANSWER-No - Production lead time can span more
than one FY. Items must be delivered with in a 12 month span.
Full Funding - For any lot buy, you can only include a quantity in that lot which... -
ANSWER-You can deliver in a future 12 month period
Funding policy definition of EXPENSE - ANSWER-Costs incurred to operate and
maintain the organization, such as personal services, supplies and utilities
Funding policy definition of INVESTMENT - ANSWER-Costs for the acquisition of end
items. The costs benefit future periods and are for long-term items such as real property
and personal property
How many general appropriation classifications are there? - ANSWER-Three general
classifications
If a MOD DOES NOT increase performance & independent DT or IOT&E is not
required, & the system is in production, what type of funding should be used for DT? -
ANSWER-Procurement (product improvement)
Fund MOD Kits for End Items and the installation of Kits with PRODCUREMENT
If a MOD DOES NOT increase performance & independent DT or IOT&E is not
required, & the system is NOT in production, what type of funding should be used for
DT? - ANSWER-O&M (product improvement)
Fund MOD Kits for End Items and the installation of Kits with PRODCUREMENT
If a MOD DOES NOT increase performance & independent DT or IOT&E is required,
what type of funding should be used for DT? - ANSWER-RDT&E funding due to
DT/IOT&E (product improvement)
Fund MOD Kits for End Items and the installation of Kits with PRODCUREMENT
If a MOD increases performance, what type of funding should be used for DT? -
ANSWER-RDT&E funding (product improvement)
Fund MOD Kits for End Items and the installation of Kits with PRODCUREMENT
In a Funded Delivery Period, can a production lot consisting of more items than
contractor can deliver in 12 month period following first item delivery be allowed? -
ANSWER-No
A __________ occurs when a reprogramming action results in movement of budget
authority from one appropriation to another - ANSWER-Transfer
Appropriation Life Cycle - During the 5 year period when funds are "expired," they retain
their accounting identity and are available to pay expenditures and make adjustments to
previous obligations, but they (are/are not) available for any new obligations? -
ANSWER-are not
Appropriation Life Cycle - If voucher submitted outside the period for which program
funds are in expired status must be paid with? - ANSWER-Current Approprations
Are O&M and MILPERs costs are considered ______? - ANSWER-Expenses
Does the Full Funding Policy require the total procurement quantity desired over the
entire life of the program to be budgeted in any one single fiscal year? - ANSWER-It
does not
Example of MILPERS - ANSWER-- Pay
- Allowances
- Special pays
- PCS
- Retirement accrual
Examples of O&M Funding - ANSWER-- Civilian & contractor labor
- Rental charges
- Food, clothing, fuel
- Maintenance, repair & overhaul of equipment (except when funded by investment)
- Assemblies, spares and repair parts, and other items of equipment that are not
centrally controlled and have system unit cost of less than $100K
- Real property maintenance
For a Full Funding Policy what are cost considered? - ANSWER-Investments
For Budgeting Purposes - What should funding for each fiscal year be sufficient to
procure? - ANSWER-Complete and useable end items
For the DOD Financial Management Regulation Requirement, why is the identification
of the total estimated cost of that program is required? - ANSWER-So "Congress and
the public can be fully aware of the dimensions and cost when the program is first
presented in the budget"
, Full Funding - Do deliveries have to begin the year the contract was signed? -
ANSWER-No - They can begin in following fiscal years. Only funding can be used for
items that the government can take possession of can be used. The use of second/third
contracts (or options) allow this. The rest can be deferred to later years.
Full Funding - Does the government have to take possession of items in the same FY
that the contract was awarded? - ANSWER-No - Production lead time can span more
than one FY. Items must be delivered with in a 12 month span.
Full Funding - For any lot buy, you can only include a quantity in that lot which... -
ANSWER-You can deliver in a future 12 month period
Funding policy definition of EXPENSE - ANSWER-Costs incurred to operate and
maintain the organization, such as personal services, supplies and utilities
Funding policy definition of INVESTMENT - ANSWER-Costs for the acquisition of end
items. The costs benefit future periods and are for long-term items such as real property
and personal property
How many general appropriation classifications are there? - ANSWER-Three general
classifications
If a MOD DOES NOT increase performance & independent DT or IOT&E is not
required, & the system is in production, what type of funding should be used for DT? -
ANSWER-Procurement (product improvement)
Fund MOD Kits for End Items and the installation of Kits with PRODCUREMENT
If a MOD DOES NOT increase performance & independent DT or IOT&E is not
required, & the system is NOT in production, what type of funding should be used for
DT? - ANSWER-O&M (product improvement)
Fund MOD Kits for End Items and the installation of Kits with PRODCUREMENT
If a MOD DOES NOT increase performance & independent DT or IOT&E is required,
what type of funding should be used for DT? - ANSWER-RDT&E funding due to
DT/IOT&E (product improvement)
Fund MOD Kits for End Items and the installation of Kits with PRODCUREMENT
If a MOD increases performance, what type of funding should be used for DT? -
ANSWER-RDT&E funding (product improvement)
Fund MOD Kits for End Items and the installation of Kits with PRODCUREMENT
In a Funded Delivery Period, can a production lot consisting of more items than
contractor can deliver in 12 month period following first item delivery be allowed? -
ANSWER-No
