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Competency 1 Fiscal Law Exam Questions and Answers
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Competency 1: Fiscal Law Exam Questions andAnswers
Federal appropriations law can be categorized into which three topical areas? - Ans - Purpose, Time, and
Amount (PTA)
In the Department of Defense, final decisions of fiscal law questions are "officially" rendered by whom? -
Ans - DoD General Counsels, Courts
What are the basic types of budget authority used in the Federal Government? - Ans - Appropriations
Contract Authority
Borrowing Authority
Monetary Credits
Offsetting Collections and Receipts
Loan and Loan Guarantee Authority
Annual appropriations remain available for obligation for how long? - Ans - One year
Operation and Maintenance (O&M) is an example of what type of appropriation? - Ans - Annual (one-
year) appropriation
RDT&E is an example of what type of appropriation? - Ans - Multi-year appropriation
Budget authority does not expire in what type of appropriation? - Ans - 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 Government? - Ans - Legislative Branch (Congress)
Which law establishes the House and Senate Budget Committees and the Congressional Budget Office? -
Ans - Congressional Budget Act of 1974 (P.L. 93-344 and P.L. 100-119)
What are the three tests which must be met for use of the Necessary Expense doctrine? - Ans - Must:
- bear a logical relationship to the appropriation sought to be charged
, - not be prohibited by law
- not be otherwise provided for (falls within some other appropriation)
Who are determined to be accountable officers in the Department of Defense? - Ans - 1. Certifying and
2. Disbursing Officers
(or any Government officer or employee who is responsible for or has custody of Government funds)
Who grants relief of liability to a certifying officer in the Department of Defense? - Ans - The Comptroller
General
What type of budgetary resources remains available for new obligations for more than one fiscal year? -
Ans - Multi-year authority
What type of budgetary resources remains available for new obligations until the purpose for which
they were provided is carried out? - Ans - No-year authority
What type of Congressional resolution can be thought of as a temporary appropriations act? - Ans -
Continuing Resolution
If a Contracting Officer signs a contract in advance of an appropriation, what type of violation has
occurred? - Ans - Anti-deficiency Act (ADA)
What agency apportions funds for a working capital fund? - Ans - The Office of Management and Budget
(OMB)
This article of the Constitution empowers Congress to pass bills for raising of revenue - Ans - Article 1,
Section 7
This article of the Constitution empowers Congress to collect taxes - Ans - Article 1, Section 8
This article of the Constitution requires appropriations in law before money may be spent from the
Treasury - Ans - Article 1, Section 9
What is the most authoritative source of information on the proper use of appropriated funds in a multi-
volume treaties published by the GAO? - Ans - The Red Book
Which budget law included the following?
1. Required the President to submit an annual budget to Congress
2. Created a budget office for the President
3. Established the GAO - Ans - The Budget and Accounting Act of 1921
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