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FOB105 FM Body of Knowledge (FMBOK) Questions and Answers

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FOB105 FM Body of Knowledge (FMBOK) Questions and Answers In a typical wing structure, who is responsible for the use of wing financial services for military and civilian personnel? - Answer-Comptroller Squadron The ____________ operates the wing's primary mission weapons system. - Answer-Oper...

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  • October 3, 2024
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EmillyCharlotte
EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER
©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISH SEPTEMBER 2024

FOB105 FM Body of Knowledge
(FMBOK) Questions and Answers

In a typical wing structure, who is responsible for the use of wing financial services for

military and civilian personnel? - Answer✔✔-Comptroller Squadron


The ____________ operates the wing's primary mission weapons system. -

Answer✔✔-Operations Group

Which is a function of a Cost Center Manager (CCM)? - Answer✔✔-Regulates the

daily consumption of resources

Which is a function of the Financial Management Analysis (FMA) Officer? -

Answer✔✔-Manages the budget, cost, and accounting functions for the base

The ______________ includes top-level managers, with membership tailored to the

type of organization structure involved to determine priorities and ensure effective

allocation of resources - Answer✔✔-FMB (Financial Management Board)

The _____________ is the Chairperson of the Financial Working Group (FWG). -

Answer✔✔-Financial Management Analysis Officer

In a typical wing organization, Responsibility Center Managers (RCMs) are usually

_____________. - Answer✔✔-Group Commanders




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, EMILLYCHARLOTTE 2024/2025 ACADEMIC YAER
©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISH SEPTEMBER 2024
The ______________ provides a way to establish priorities, choose policies, and act to

get the desired results and required resources at an acceptable cost. - Answer✔✔-

Resource Management System

Cost Center Managers (CCMs) are usually at the _____________ level. -

Answer✔✔-Squadron

The Financial Working Group (FWG) manages commodities and resources integral to: -

Answer✔✔-Base/unit level operations activities

"The established rule that is expenditure of public funds is proper only when authorized

by Congress," describes: - Answer✔✔-Legislative Authority

_____________ has the ability to appropriate funds to be spent by the federal

government. - Answer✔✔-Congress

The three main elements that must be reviewed and we must ensure are properly

examined before funds are obligated are: - Answer✔✔-Purpose, Time, and Amount

To apply reasonable discretion and flexibility, the Government Accountability Office

(GAO) developed the concept known as the _______________ which consists of a

three-part test. - Answer✔✔-Necessary Expense Rule

The bona fida needs rule, as it pertains to supplies, states that generally. agencies must

obligate funds from the fiscal year in which the supplies is if you are maintaining a stock

of commonly used supplies (inventory), you are permitted to replenish those stocks

using current funding even if you may not use those supplies until the following fiscal

year to avoid an interruption of operations. - Answer✔✔-True


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