Fiscal law exam - Study guides, Class notes & Summaries

CMIT Exam (200 multiple choice) Questions with Verified Answers A CM's role and responsibilities are governed solely by the Owner/CM Agreement. True False - CORRECT ANSWER True There are two basic forms of CM, agency and at-risk. Each form provides for the basic services of construction management practice. However, there are some key differences. Which of the following do not apply to both CM forms? A) Both forms provide advice to the owner on constructibility, budget and the schedule. ...

GCSU GA Constitution Exam Questions and Answers 100% Pass how many federal employees? 3 million how many state/local employees? 13 million What areas of public policy do the states take most of the responsibility for? education, highways, lawenforcement, public health, welfare Similarities between state gov systems 1. every state has a written constitution and 3 gov branches 2. governor, state leg and court system constitutionalism -gov created for the people by people - describe fundamental...

QUESTION 1 1. Which of the following is a correct statement of Fiscal Law Philosophy: If the law is silent as to whether a purchase can be made, it is probably safe to spend appropriated funds. authorized by Congress. If the commander says buy it, don’t worry about Fiscal Law Regulations. Absent a specific prohibition, expending appropriated funds is permitted. 20 points QUESTION 2 1. It is July 2010. The contracting officer at Fort Mason is about to award a contract for a comput...

Fiscal Law Exam CLG 001 _ Questions And Answers 2023 QUESTION 1 1. Which of the following is a correct statement of Fiscal Law Philosophy: If the law is silent as to whether a purchase can be made, it is probably safe to spend appropriated funds. Expenditure of appropriated funds is proper only when authorized by Congress. If the commander says buy it, don’t worry about Fiscal Law Regulations. Absent a specific prohibition, expending appropriated funds is ...

This study source was downloaded by from CourseH on :15:29 GMT -06:00 Fiscal Law Final Exam QUESTIONS AND ANSWERS RATED A+ 2023|2024 UPDATE QUESTION 1 1. It is appropriate for the Army to acquire lawn cutting services through the Project Order Statute. True False QUESTION 2 1. The proper amount of money to obligate at the award of a firm fixed- price contract is: The full amount of the contract. Nothing until the contractor performs the required work. Half of the total liability. ...

CDFM Fiscal Law Exam || With 100% Accurate Solutions CDFM Fiscal Law Exam || With 100% Accurate Solutions U.S. Fiscal Law - ANSWER - Body of law which governs the use and availability Federal funds by Executive Agencies Fiscal Law is derived from... - ANSWER - 1. US Constitution (Article I) 2. US Code, Title 31 3. FAR and subsequent regulations 4. GAO and court rulings Fiscal Year - ANSWER - Starts October 1 End September 30 Government Accountability Office (GAO) - ANSWER - An i...

Fiscal Law Exam 1 || Questions & Answers (100% Correct) Fiscal Law Exam 1 || Questions & Answers (100% Correct) "The established rule is that the expenditure of public funds is proper only when authorized by Congress," describes _____ - ANSWER - Affirmative Authority ______ has the ability to appropriate funds to be spent by the federal government. - ANSWER - Congress The three main elements that must be met before funds are obligated are - ANSWER - Purpose Time Amount To ap...

CDFM EXAM (4 DIFFERENT SUB MODULE 3.1 - 3.4) QUESTIONS AND CORRECT ANSWERS EACH SUB MODULE CONTAINS 100 QUESTIONS AND ANSWERS LATEST 2023-2024 What is the basic axiom of Fiscal Law? - ANSWER- The established rule is that the expenditure of public funds is proper only when authorized by Congress, not that public funds may be expended unless prohibited by Congress. U.S. vs McCollum (1976) "Where can the most authoritative source of information on the proper use of appropriated funds be...

T/F? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act? - ANSWER FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the? - ANSWER 31 USC 1341, 1342, and 1517 ADA The 2 provisions of the US Constitution that provide the underpinning for the budget process are? - ANSWER Article 1 Section 8 clause 1, Article 1 Section 9 clause 7 T/F? Article 2 section 8 empowers Congress to colle...

Fiscal Law Exam 2 (2024) || With Questions & All Accurate Answers (Rated A+) Fiscal Law Exam 2 (2024) || With Questions & All Accurate Answers (Rated A+) Is repurposing or converting a facility for a new use considered construction? - ANSWER - Yes 3 Essential Principles of Fiscal Law - ANSWER - Time, Purpose, and Amount What funds are ordinary operating expenses funded with? - ANSWER - 0100 O&M What are Procurement (Proc) Funds used for? - ANSWER - Capital Purchases ie) Aircraft, Mi...

Whether or not there is an Antideficiency Act violation after applicatio n of the two-part corrections test, you must: Complete a formal investigation within 12 months and 2 weeks from the date the preliminary review ended. Place civilian personnel on administrative leave pending the outcome of the preliminary review. Try to deobligate the improper funds and obligate the proper funds. Investigate whether there was an Antideficiency Act violation and establish/assign responsibility. QUEST...

CDFM All Modules FISCAL LAW Exam Questions and Answers T/F? A working capital (Revolving) fund or part of that fund cannot violate the Anti Deficiency Act? - ANSWER FALSE Agencies are responsible for maintaining a system of accounting and internal controls to avoid violations of the? - ANSWER 31 USC 1341, 1342, and 1517 ADA The 2 provisions of the US Constitution that provide the underpinning for the budget process are? - ANSWER Article 1 Section 8 clause 1, Article 1 Section 9 clause ...