Bona fide needs rule - Study guides, Class notes & Summaries

Unlimited PCO Warrant Board I Exam Questions and Answers What is an option? - Answer-An option is a unilateral right in a contract, for a specific period of time, where the Gov't may elect to purchase additional supplies or services called for by the contract, or extend the PoP. The PCO should use options when (1) in the Govts best interest, (2) there is a need for service beyond the initial period, and (3) to ensure continuity of service. The use of options are not normally in the Gover...

What is the bona fide needs rule - Answer supplies or services must be intended for a genuine, "bona fide" need in the FY of appropriations being used current year money for a current year need What are the exceptions to the Bona-Fide Needs Rule - Answer Exceptions: Supply production/delivery lead time - agencies may consider a normal production/delivery lead time to determine bona fide need. Normally NTE 30 days. Agencies cannot use this exception when items are immediately avail...

MSAA Cheerleading Exam By definition, a school cheerleading team must have: - A coach (or coaches) appointed by the principal, a regular practice schedule through the season defined by the sport for which they are cheering to to include participation as determined by the league or school policy, a school uniform, and the opportunity to participate in MSAA sanctioned competitions to include, open, invitational, regional, and state tournament Cheerleading in Massachusetts follows the Nat...

Fiscal Law LATEST 2023-2024 ACTUAL EXAM TEST BANK QUESTIONS AND CORRECT DETAILED ANSWERS|AGRADE What are the three main types of appropriation and their availability for obligation? - ANSWER- 3400 – O&M (1-year appropriation) 3600 - RDT&E (2-year appropriation) 3080 - Procurement (3-year appropriation) Within procurement there are different types of appropriation for aircraft, naval ships, etc. What is 3400 money used for? - ANSWER- Operations and Maintenance including Day to Day exp...

A coach (or coaches) appointed by the principal, a regular practice schedule through the season defined by the sport for which they are cheering to to include participation as determined by the league or school policy, a school uniform, and the opportunity to participate in MSAA sanctioned competitions to include, open, invitational, regional, and state tournament - Answer-By definition, a school cheerleading team must have: True - Answer-Cheerleading in Massachusetts follows the National F...

Fiscal Law 2023 Test Questions and Correct Answers What are the three main types of appropriation and their availability for obligation? - ANSWER 3400 - O&M (1-year appropriation) 3600 - RDT&E (2-year appropriation) 3080 - Procurement (3-year appropriation) Within procurement there are different types of appropriation for aircraft, naval ships, etc. What is 3400 money used for? - ANSWER Operations and Maintenance including Day to Day expenses such as training, exercises, deployments,...

Contracting Officer Unlimited Warrant Board Exam With 100% Correct Answers What is an option? -answersAn option is a unilateral right in a contract, for a specific period of time, where the Government may elect to purchase additional supplies or services called for by the contract, or extend the period of performance. The PCO should use options when (1) in the Governments best interest, (2) there is a need for service beyond the initial period, and (3) to ensure continuity of service. The...

Basic Fiscal Law Questions and Answers 100% Pass "The established rule is that the expenditure of public funds is proper only when authorized by Congress," describes _____ Affirmative Authority ______ has the ability to appropriate funds to be spent by the federal government. Congress The three main elements that must be met before funds are obligated are Purpose Time Amount To apply reasonably discretion and flexibility, the Government Accountability Office (GAO) developed ...

CDFM - Module 3 questions and answers latest top score. What are the three tests that must be met for use of the Necessary Expense doctrine? - correct answer. Must bear a logical relationship Not prohibited by law Not funded elsewhere (p 3.1.17) Who grants relief of liability to a certifying officer for erroneous or illegal payments in the Department of Defense? - correct answer. The Defense Finance and Accounting Service (*DFAS*) (p. 3.1.51) What type of budge...

What is the Micro-purhcase threshold for supplies? -:- $10k All incentive contracts (schedule or performance) must also include what? -:- Cost incentive or constraint What requires funds to be used only for needs or services in the year of the appropriations obligation period? -:- Bona Fide Needs Rule What contract types can be used for commercial item purchases? -:- FFP or FPEPA What is the Simplified Acquisition Threshold for commercial products and services? What is it for non...