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CDFM Module 1.3 EXAM QUESTIONS EXAM 2024 AND PRACTICE QUESTIONS |ACCURATE ANSWERS| VERIFIED FOR GUARANTEED PASS |GRADED A |NEW VERSION WITH 150+ QUESTION$25.99
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CDFM Module 1.3 EXAM QUESTIONS EXAM 2024 AND PRACTICE QUESTIONS |ACCURATE ANSWERS| VERIFIED FOR GUARANTEED PASS |GRADED A |NEW VERSION WITH 150+ QUESTION
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Course
CDFM Module 1.3
Institution
CDFM Module 1.3
CDFM Module 1.3 EXAM QUESTIONS EXAM
2024 AND PRACTICE QUESTIONS |ACCURATE
ANSWERS| VERIFIED FOR GUARANTEED PASS
|GRADED A |NEW VERSION WITH 150+
QUESTION
CDFM Module 1.3 EXAM QUESTIONS EXAM
2024 AND PRACTICE QUESTIONS |ACCURATE
ANSWERS| VERIFIED FOR GUARANTEED PASS
|GRADED A |NEW VERSION WITH 150+
QUESTIONS
Who decides whether a weakness is material enough to warrant reporting as a "material
weakness" to the next higher level?
- CORRECT ANS-It is a management judgment
What should be the last milestone of the corrective action plan for each material weakness? -
CORRECT ANS-Correction Validation
The DoD component head's Statement of Assurance must take one of how many forms? -
CORRECT ANS-Three
How many components are there in the GAO Standards of Internal Control?
- CORRECT ANS-Five
For what program is the full scope of management responsibility defined in DoD Instruction
5010.40?
- CORRECT ANS-DoD's Managers' Internal Control Program
When a DoD component head provides a Statement of Assurance that the component's
controls are in place and achieving their intended objectives, is this a statement of absolute
assurance or reasonable assurance?
- CORRECT ANS-Reasonable assurance
,What is the term for the probable or potential adverse effects from inadequate internal control
that may result in the loss of Government resources or cause an agency to fail to accomplish
significant mission
objectives through fraud, waste, or mismanagement?
- CORRECT ANS-Risk
What kind of a weakness significantly impairs the fulfillment of a DoD component's mission? -
CORRECT ANS-Material
True or False: The July 15, 2016 updated version of OMB Circular A-123 requires CFO Act
Agencies to hire a Chief Risk Officer for the purpose of establishing an Enterprise Risk
Management capability within the agency.
- CORRECT ANS-False
What are the two major categories of control areas included in GAO's Federal Information
System Controls Audit Manual (FISCAM)?
- CORRECT ANS-General and Business Process Application Controls
What is the name of the Department's internal control effort?
- CORRECT ANS-Manager's Internal Control Program
The purposes of the Federal Managers' Financial Integrity Act of 1982 are to prevent waste or
misuse of agency funds or property and to assure the accountability of what?
- CORRECT ANS-Assets
What do internal controls reasonably ensure?
- CORRECT ANS-Programs achieve intended results; Resources are used efficiently;
Programs/resources are protected from waste, fraud, and mismanagement; Laws and
regulations are followed;
Financial reporting is reliable and accurate
, What agency issues "Standards for Internal Control in the Federal Government"?
- CORRECT ANS-Government Accountability Office (GAO)
Segregation of duties is a type of which internal control standard?
- CORRECT ANS-Control Activities
The Financial Managers Financial Integrity Act report must include agency plans to correct what
type of weakness?
- CORRECT ANS-Material weakness
Differing priorities, misunderstanding of roles and responsibilities, technical opinions, and
personality clashes often cause what?
- CORRECT ANS-conflict
"Leave well enough alone" is an example of which type of conflict resolution approach? -
CORRECT ANS-Avoiding
"Two heads are better than one" is an example of which type of conflict resolution approach? -
CORRECT ANS-Collaborating
Merit principles say that equal pay should be provided for what type of work?
- CORRECT ANS-Work of equal value
Merit principles place the burden for good employee performance on management or the
employee?
- CORRECT ANS-Both
A disabled veteran with service-connected disability of 30 percent or more must be given what
type of notice of a proposed Passover?
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