Cfo act of 1990 - Study guides, Class notes & Summaries
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CGFM TEST 3 EXAM 2023 WITH 100% CORRECT ANSWERS
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Three Broad Government Spending Purposes 
1) Current Operations 
2) Capital Outlays 
3) Debt Service 
 
 
 
Present Value Analysis - Three Components 
Determines what $$ Rec'd in Future is Worth Today 
 
1) inflation component - year over year loss in value 
2) enterprise component - inherent risk 
3) unique component - 
 
 
 
Budget Accounting and Procedures Act of 1950 
Requires the head of each federal agency to establish and maintain I/C's. 
 
 
 
Federal Managers Financial Integrity Act o...
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Certified Defense Financial Manager Course Exam Questions and Answers
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What was the predecessor to the Constitution? 
Articles of Confederation 
Where are Federal-Level laws enacted? 
Congress 
What Article, Section and Clause empowers Congress to collect taxes 
Article 1, Section 8, Clause 1 
What occurs when the President does not sign an enrolled bull within 10 days? 
Pocket Veto 
Which branch of government implements laws? 
Executive 
Approximately what percent of federal spending is discretionary? 
30% 
How frequently does congress review the DoD budget reques...
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CGFM Exam 1 ALL(rated A+)question with correct answers 2023
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CGFM Exam 1 ALL(rated A+)question with correct answers 2023doctrine of separation of powers provides a foundation for - correct answer government financial management 
 
govt entity can be classed as - correct answer general or special purpose 
 
US constitution written - correct answer 1787 
 
Most school district in US - correct answer Independent District 
 
Role of federal CFO - correct answer codified in the Chief Financial Officer act of 1990 
 
telework - correct answer working from home ...
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CDFM Module 1.2 Questions and Answers Rated A+
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CDFM Module 1.2 Questions and Answers Rated A+ 
Performance of Commercial Activities and Inherently governmental activities is found where? OMB Circular A-76 
Reporting on Employment and Personnel Compensation is found in where? OMB Circular A-11 
Where can the rules for calculating FTE employment be found? OMB Circular A-11 
What term is used to refer to the totality of units in a DOD component? Force Structure 
What types of activities are excluded from competition under OMB Circular A-76? Inh...
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CGFM TEST 3 questions with complete solutions 2023
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CGFM TEST 3 questions with complete solutions 2023Present Value Analysis - Three Components 
Determines what $$ Rec'd in Future is Worth Today 
 
1) inflation component - year over year loss in value 
2) enterprise component - inherent risk 
3) unique component - 
 
 
 
Budget Accounting and Procedures Act of 1950 
Requires the head of each federal agency to establish and maintain I/C's. 
 
 
 
Federal Managers Financial Integrity Act of 1982 (FMFIA) 
requires the head of each agency to evalua...
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CGFM Exam 1 ALL Questions With Correct Answers
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doctrine of separation of powers provides a foundation for - Answer government financial management 
 
govt entity can be classed as - Answer general or special purpose 
 
US constitution written - Answer 1787 
 
Most school district in US - Answer Independent District 
 
Role of federal CFO - Answer codified in the Chief Financial Officer act of 1990 
 
telework - Answer working from home or other remote location 
 
Anti-fraud policies - Answer a formal code of conduct 
frames the behavioral e...
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DFMC Test 1-Class 20B with complete solutions
- Exam (elaborations) • 2 pages • 2024
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5 Steps of Decision Making Process 
1. Identify the Issue 2. Analyze the Issue 3. Develop Alternatives 4. Evaluate the Alternatives 5. Make a Recommendation 14 words, 5 steps 
 
 
 
Name 3 Critical thinking tools (Identify the Issue) 
1. Brainstorming 2. Fishbone (cause and effect) 3. 5 Wise 
 
 
 
 
Previous 
Play 
Next 
Rewind 10 seconds 
Move forward 10 seconds 
Unmute 
0:00 
/ 
0:15 
Full screen 
Brainpower 
Read More 
What is the most IMPORTANT step of decision support? 
Identifying the Iss...
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CGFM Final Exam 1 Practice Questions With Correct and Verified Answers 2023 (Graded A+)
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CGFM Final Exam 1 Practice Questions With Correct and Verified Answers 2023 (Graded A+) Authorization - ANSWER-Legislative enactment that approves programs; prescribes 
what activities an agency may pursue if funding is available 
Block Grant - ANSWER-One type of formula grant. Block grants combine several 
service categories into one grant and, thus, allow maximum flexibility to the grantee to 
use the funds to meet local needs 
Capital Budget - ANSWER-Forecasts and controls spending for "big-...
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CGFM Exam 1 ALL questions with complete solutions 2023
- Exam (elaborations) • 71 pages • 2023
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CGFM Exam 1 ALL questions with complete solutions 2023doctrine of separation of powers provides a foundation for 
government financial management 
 
 
 
govt entity can be classed as 
general or special purpose 
 
 
 
US constitution written 
1787 
 
 
 
Most school district in US 
Independent District 
 
 
 
Role of federal CFO 
codified in the Chief Financial Officer act of 1990 
 
 
 
telework 
working from home or other remote location 
 
 
 
Anti-fraud policies 
a formal code of conduct 
fr...
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CGFM exam 3: Section 3, Chapter 1 - Internal Controls fully solved 2023
- Exam (elaborations) • 2 pages • 2023
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CGFM exam 3: Section 3, Chapter 1 - Internal Controls fully solved 2023Federal laws on internal controls began with? - correct answer Budget and Accounting Procedures Act of 1950, which requires each federal agency head to establish and maintain internal controls. 
 
Federal Financial Managers' Financial Integrity Act of 1982 (FMFIA) - correct answer requires (1) GAO to prescribe internal control standards, and (2) federal managers to annually (a) evaluate their implementation of internal contr...
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