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CDFM Training Module 1 questions with answers.
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CDFM Training Module 1 questions withanswers.
Options ANS - Which is NOT a remedy to avoid conflict in financial disclosure?
Authorized by Defense Finance and Accounting Services (DFAS). ANS - Under section 1501(a) (1), an
amount shall be recorded as an obligation of the United States Government only when supported by
documentary evidence of EXCEPT:
Pursuant to 31 U.S.C. 1342, agencies have broad discretion in determining operations which protect life
and property, so that these operations may continue ANS - Which of the following statements is NOT
true about funding gaps?
Becomes law. ANS - If Congress is in session and a bill is NOT signed by the President in 10 days it:
The goal of the A-76 process is to improve economy and productivity without regard to whether any
activities are ultimately outsourced. ANS - Which of the statements is true about the A-76 process?
Different appropriations and their uses ANS - The term "color of money" refers to:
Risk assessment ANS - Which of the GAO Standards for Internal Control in the Federal Government
serves as a basis for establishing clearly defined mission and organizational objectives to ensure
compliance?
Conference committee. ANS - The "third house of Congress" refers to the:
5 ANS - How many standards are there in the GAO Standards of Internal Control?
There is no specific procedure ANS - What is the specific procedure for requesting a decision from the
Comptroller General?
, An assessable unit should be a subdivision of an organization that ensures a reasonable span of
management control to allow for adequate control analysis. ANS - Which statement about assessable
units is true?
Cause, Probability, Consequence ANS - When developing effective Enterprise Risk Management (ERM)
systems, what are the key attributes required within the DoD Program Office Element (POE) risks?
Termination for convenience of the government because the original contractor would not accept a
contract modification ANS - A comptroller is asked to place FY18 funds on a new contract being
awarded in FY19. It will be a cost plus award fee contract providing a management study on certain
business practices in the organization. The same study was contracted for in December 2017, but was
terminated prior to completion. Which termination reason would require use of FY19 funds for the
replacement contract?
A-123 ANS - Which OMB Circular focuses on the internal controls of a federal agency?
Review justifications from each agency. ANS - Upon receipt of the President's budget, the congressional
appropriations subcommittees hold hearings to:
Management. ANS - The primary responsibility for, and management of, an effective internal control
program rests on:
Armed Services ANS - Which committee has primary oversight of DoD activities and programs?
Establishment of Internal Controls and Financial Systems ANS - How does the Federal Manager's
Financial Integrity Act (FMFIA) of 1982 provide assurances to the Legislative branch?
Not permitted to retain the briefcase because it was offered by an external organization and is valued at
more than $20. ANS - A Junior Chamber of Commerce offers a government employee a briefcase
valued at $50 in appreciation for giving a luncheon speech on a Federal management improvement
program. The employee is:
Management should remediate identified internal control deficiencies on a timely basis. ANS - During
the monitoring phase, the remediation of an internal control deficiency took four months to correct.
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