Book 2 Volume 2
Questions and Answers
- 1.
What should you do before conducting an in-depth funds analysis?
- A.
Develop financial plan.
- B.
Conduct preliminary research.
- C.
Monitor reimbursement program.
- D.
Develop economic impact statement.
Correct Answer
B. Conduct preliminary research.Explanation
Before conducting an in-depth funds analysis, it is important to conduct preliminary research. This step allows you to gather relevant information and data about the funds you will be analyzing. It helps you understand the background, purpose, and objectives of the funds, as well as any potential risks or challenges associated with them. By conducting preliminary research, you can ensure that you have a solid foundation of knowledge before diving into the in-depth analysis, which will ultimately lead to more accurate and meaningful results.Rate this question:
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- 2.
An economic analysis (EA) is an aid to rational choice among competing alternatives. Howmany steps are in a formal EA?
- A.
3
- B.
4
- C.
5
- D.
6
Correct Answer
D. 6Explanation
A formal economic analysis involves a systematic process of evaluating different alternatives. This process typically consists of six steps, which include defining the problem, gathering relevant data, formulating alternative solutions, evaluating the alternatives, making a decision, and implementing the chosen solution. Each step is necessary to ensure a comprehensive and rational analysis of the competing alternatives. Therefore, the correct answer is 6.Rate this question:
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- 3.
Risk from imperfect knowledge about the state of the world lead to what type of risk?
- A.
Schedule.
- B.
Technical.
- C.
Requirements.
- D.
Cost estimating.
Correct Answer
C. Requirements.Explanation
Imperfect knowledge about the state of the world can lead to risks related to requirements. This means that when there is uncertainty or lack of clarity about the specific needs and expectations for a project or task, there is a higher chance of encountering difficulties or failures. This type of risk arises from not fully understanding or accurately defining the necessary features, functionalities, or specifications of a product or project, which can ultimately impact its success and effectiveness.Rate this question:
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- 4.
Funding variances occur when reprogramming actions take place; identify the two types offunding variances?
- A.
Macro and micro.
- B.
Slippage and stoppage.
- C.
Slippage and acceleration.
- D.
Acceleration and stoppage.
Correct Answer
C. Slippage and acceleration.Explanation
Funding variances occur when reprogramming actions take place. Slippage refers to the delay or slow progress in funding allocation or implementation, while acceleration refers to the faster than expected allocation or implementation of funds. These two types of variances represent different scenarios where funding may deviate from the planned schedule or pace.Rate this question:
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- 5.
The key to successfully accomplishing your role as a financial analyst is your
- A.
Determination.
- B.
Hard work and knowledge.
- C.
Professional education and other classes.
- D.
Professional reputation and in-depth knowledge of your wing’s mission and structure.
Correct Answer
D. Professional reputation and in-depth knowledge of your wing’s mission and structure.Explanation
The key to successfully accomplishing your role as a financial analyst is your professional reputation and in-depth knowledge of your wing's mission and structure. This means that having a good reputation within your professional network and being knowledgeable about the goals and structure of your organization are crucial for success in this role. This implies that simply relying on determination, hard work, or professional education may not be sufficient without a strong reputation and understanding of the mission and structure.Rate this question:
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- 6.
While standard organizational structures are defined in Air Force Instruction (AFI) 38–101,who determines the organizational structure of your base?
- A.
The Defense Finance and Accounting Service (DFAS).
- B.
The Secretary of the Air Force (SAF).
- C.
The Financial Service Office (FSO).
- D.
The major command (MAJCOM).
Correct Answer
D. The major command (MAJCOM).Explanation
The correct answer is the major command (MAJCOM). While standard organizational structures are defined in Air Force Instruction (AFI) 38-101, the actual determination of the organizational structure of a base is made by the major command. The major command has the authority to establish and modify the organizational structure based on the specific needs and requirements of the base.Rate this question:
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- 7.
Under which group in an objective wing would you find weapon systems operators such as pilots, navigators, flight engineers, and missile launch officers?
- A.
Operations.
- B.
Logistics
- C.
Support.
- D.
Medical
Correct Answer
A. Operations.Explanation
In an objective wing, weapon systems operators such as pilots, navigators, flight engineers, and missile launch officers would be found under the Operations group. This group is responsible for carrying out the operational tasks and missions of the wing, which includes the operation and maintenance of weapon systems.Rate this question:
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- 8.
The group in a wing responsible for supply, transportation, and contracting is
- A.
Operations.
- B.
Logistics.
- C.
Medical.
- D.
Support.
Correct Answer
B. Logistics.Explanation
The group in a wing responsible for supply, transportation, and contracting is Logistics. This is because logistics involves the management of the flow of goods, services, and information between the point of origin and the point of consumption. In this context, logistics would encompass activities such as procuring and storing supplies, coordinating transportation and distribution, and managing contracts related to these operations. Operations, Medical, and Support may have their own specific responsibilities within the wing, but logistics is the group that oversees the overall supply chain and related functions.Rate this question:
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- 9.
Which group within a wing is responsible for the housing, feeding, security, communications, and recreational activities of the base?
- A.
Medical.
- B.
Support.
- C.
Logistics
- D.
Operations.
Correct Answer
B. Support.Explanation
The Support group within a wing is responsible for various essential tasks such as housing, feeding, security, communications, and recreational activities of the base. This group ensures that all the necessary support services are provided to the base personnel, enabling them to carry out their duties effectively.Rate this question:
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- 10.
The rules and procedures for using funds appropriated to the Air Force can be found in AirForce Instruction (AFI) 65–601, volume
- A.
1
- B.
2
- C.
3
- D.
4
Correct Answer
A. 1Explanation
The explanation for the given correct answer is that the rules and procedures for using funds appropriated to the Air Force can be found in AirForce Instruction (AFI) 65-601, volume 1. This means that the specific guidelines and instructions for how the Air Force should utilize the allocated funds can be found in the first volume of the AFI 65-601 document.Rate this question:
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- 11.
Which Air Force Instruction (AFI) contains current symbols and budget codes and theirdescriptions?
- A.
AFMAN 65–604.
- B.
AFMAN 65–504
- C.
AFMAN 65–503.
- D.
AFMAN 65–501.
Correct Answer
A. AFMAN 65–604.Explanation
AFMAN 65-604 is the correct answer because it is the Air Force Instruction that contains current symbols and budget codes along with their descriptions. The other options, AFMAN 65-504, AFMAN 65-503, and AFMAN 65-501, do not specifically address symbols and budget codes, making them incorrect choices.Rate this question:
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- 12.
Which publication establishes prerequisites for recording obligations?
- A.
Office of Management and Budget (OMB) A–76.
- B.
Department of Defense (DOD) 4000.19-R.
- C.
Defense Finance and Accounting Service (DFAS)-DE 7077.2-M.
- D.
DFAS-DE 7000.4-R.
Correct Answer
D. DFAS-DE 7000.4-R.Explanation
DFAS-DE 7000.4-R is the correct answer because it is the publication that establishes prerequisites for recording obligations. The other options, OMB A-76, DOD 4000.19-R, and DFAS-DE 7077.2-M, do not pertain to recording obligations.Rate this question:
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- 13.
The first phase of the Department of Defense (DOD) biennial planning, programming, and budgeting decision-making process and involves all the key elements within DOD in their respective areas of responsibility is
- A.
Costing of programs.
- B.
Identifying our national goals.
- C.
Determining military plans and requirements.
- D.
Coordinating long-range military planning with existing programs.
Correct Answer
C. Determining military plans and requirements.Explanation
In the given question, the correct answer is "determining military plans and requirements." This is because the question is asking about the first phase of the Department of Defense (DOD) biennial planning, programming, and budgeting decision-making process. Out of the given options, determining military plans and requirements is the most relevant to this process as it involves setting the strategic direction and identifying the necessary military capabilities and resources needed to achieve the goals and objectives of the DOD.Rate this question:
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- 14.
Which cycle of the Department of Defense (DOD) biennial planning, programming, budgeting, and execution (PPBE) system identifies military goals and develops courses of action to meet them?
- A.
Planning.
- B.
Budgeting.
- C.
Execution.
- D.
Programming.
Correct Answer
A. Planning.Explanation
The correct answer is planning. In the Department of Defense (DOD) biennial planning, programming, budgeting, and execution (PPBE) system, the planning cycle is responsible for identifying military goals and developing courses of action to meet them. This phase involves strategic analysis, resource assessment, and the formulation of plans and strategies to achieve the desired objectives. It sets the foundation for the subsequent stages of budgeting, programming, and execution, where specific resource allocation and implementation take place.Rate this question:
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- 15.
Department of Defense (DOD) functional categories are classifications of expense that are directly subordinate to
- A.
Program elements (PE).
- B.
Major force programs (MFP).
- C.
Department of Defense elements of expense (DODEE).
- D.
Air Force elements of expense/investment codes (EEIC).
Correct Answer
A. Program elements (PE).Explanation
The correct answer is program elements (PE). Department of Defense (DOD) functional categories are classifications of expense that are directly subordinate to program elements. This means that the functional categories are organized and categorized based on the specific program elements they are associated with. Program elements serve as the higher-level categories or divisions within the DOD's budget and are used to allocate resources and track expenses for specific programs or initiatives. Therefore, the functional categories are directly subordinate to the program elements.Rate this question:
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- 16.
In which stage of the budget cycle are estimates developed within the Department of Defense (DOD) accounting structure?
- A.
Review.
- B.
Execution
- C.
Enactment.
- D.
Formulation.
Correct Answer
D. Formulation.Explanation
Estimates are developed within the Department of Defense (DOD) accounting structure during the formulation stage of the budget cycle. This stage involves the creation and development of the budget proposal, which includes estimating the costs and expenses for various programs and activities. During formulation, the DOD analyzes its needs, sets priorities, and determines the funding requirements for the upcoming fiscal year. This is the stage where estimates are developed to guide the budget decision-making process within the DOD accounting structure.Rate this question:
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- 17.
The Chief of Staff of the Air Force approves or adjusts estimates and submits them to what gency or office that will make the last official action to either approve or adjust the Department f the Air Force budget estimate?
- A.
Air Force Council.
- B.
National Security Council (NSC).
- C.
Secretary of the Air Force (SAF).
- D.
Office of Management and Budget (OMB).
Correct Answer
C. Secretary of the Air Force (SAF).Explanation
The Chief of Staff of the Air Force approves or adjusts estimates and submits them to the Secretary of the Air Force (SAF) who will make the last official action to either approve or adjust the Department of the Air Force budget estimate. The SAF is responsible for overseeing the budget and financial management of the Air Force, making them the appropriate office to make the final decision on the budget estimate.Rate this question:
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- 18.
Which federal department or agency prepares the appropriation warrant?
- A.
Headquarters US Air Force.
- B.
Department of Defense (DOD).
- C.
Department of the Treasury.
- D.
Office of Management and Budget (OMB).
Correct Answer
C. Department of the Treasury.Explanation
The Department of the Treasury prepares the appropriation warrant. The warrant is an official document that authorizes the spending of funds from the federal budget. As the department responsible for managing the nation's finances, the Treasury plays a crucial role in ensuring that government funds are allocated and spent appropriately.Rate this question:
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- 19.
Of the two types of documents issued to the major commands (MAJCOM), which one makes funds available for obligation from an allocation or suballocation?
- A.
Allotment.
- B.
Appropriation warrant.
- C.
Apportionment request.
- D.
Operating budget authority.
Correct Answer
A. Allotment.Explanation
An allotment is a type of document issued to major commands (MAJCOM) that makes funds available for obligation from an allocation or suballocation. It allows the MAJCOM to allocate and distribute funds to different units or programs within their command. This document is an important tool in managing and controlling the use of funds within the MAJCOM.Rate this question:
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- 20.
Identify the document that contains annual and quarterly funding authority within the operations and maintenance appropriation?
- A.
Allotment.
- B.
Appropriation warrant.
- C.
Apportionment request.
- D.
Operating budget authority.
Correct Answer
D. Operating budget authority.Explanation
The document that contains annual and quarterly funding authority within the operations and maintenance appropriation is the operating budget authority. This document outlines the specific funding allocated for operations and maintenance activities on an annual and quarterly basis. It provides the necessary financial resources for carrying out these activities within the organization.Rate this question:
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- 21.
Which appropriation, by period of availability, has the greatest impact on basemanagement?
- A.
No-year.
- B.
One-year
- C.
Two-year.
- D.
Multiple-year.
Correct Answer
B. One-yearExplanation
The one-year appropriation has the greatest impact on basemanagement because it is available for a shorter period of time compared to the other options. This means that the funds allocated for basemanagement must be used within a shorter timeframe, requiring more efficient planning and execution. Additionally, the one-year appropriation may have stricter guidelines and restrictions on how the funds can be used, further influencing the management decisions.Rate this question:
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- 22.
What are the two statuses of availability categories for appropriation accounts?
- A.
Current and expired.
- B.
Current and direct.
- C.
Expired and indirect.
- D.
Expired and direct.
Correct Answer
A. Current and expired.Explanation
The two statuses of availability categories for appropriation accounts are "current" and "expired." This means that funds in the account are either currently available for use or have already expired and cannot be used anymore.Rate this question:
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- 23.
Funds made available to the Air Force cannot be established in reserve accounts to use later; therefore, funds are programmed
- A.
In their entirety.
- B.
On a monthly basis.
- C.
On a quarterly basis.
- D.
In six month increments.
Correct Answer
A. In their entirety.Explanation
The funds made available to the Air Force cannot be established in reserve accounts to use later, which means that they must be used in their entirety. This implies that the funds cannot be saved or carried over to the next period, but rather they must be fully utilized within the current period.Rate this question:
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- 24.
The basic purpose of the operating budget is to ensure that you price the baseline property and
- A.
Call instructions are appropriate.
- B.
Inputs to the program objective memorandum (POM) are correct.
- C.
The baseline for operations and maintenance (O&M) is accurate.
- D.
The financial plan is submitted on time.
Correct Answer
C. The baseline for operations and maintenance (O&M) is accurate.Explanation
The correct answer is "the baseline for operations and maintenance (O&M) is accurate." The operating budget is primarily concerned with determining the baseline for operations and maintenance expenses. This involves accurately estimating the costs associated with running and maintaining a property or facility. By ensuring that the O&M baseline is accurate, the operating budget can effectively allocate resources and plan for the necessary expenses to keep the property or facility operational.Rate this question:
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- 25.
The directive to price an approved program in a specific format is called
- A.
Program objective memorandum (POM).
- B.
Defense guidance.
- C.
Command Call.
- D.
USAF Call.
Correct Answer
C. Command Call.Explanation
The directive to price an approved program in a specific format is referred to as a "Command Call." This term is commonly used in the military context, particularly in the United States Air Force (USAF). It is a command-level decision-making process where program objectives and budgets are discussed and finalized. The other options provided, such as program objective memorandum (POM), defense guidance, and USAF Call, do not accurately describe the specific directive mentioned in the question.Rate this question:
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- 26.
In what month does the Secretary of the Air Force (SAF) issue the USAF Call to the majorcommands (MAJCOM)?
- A.
January.
- B.
February.
- C.
March.
- D.
April.
Correct Answer
A. January.Explanation
The Secretary of the Air Force (SAF) issues the USAF Call to the major commands (MAJCOM) in January.Rate this question:
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- 27.
What process does the Air Force use to sharpen financial planning?
- A.
Bogey concept.
- B.
Initial distribution.
- C.
President’s budget (PB).
- D.
Continuing Resolution Authority (CRA).
Correct Answer
A. Bogey concept.Explanation
The Air Force uses the bogey concept to sharpen financial planning. The bogey concept refers to setting a target or goal that needs to be achieved. In the context of financial planning, the Air Force uses this concept to establish a desired level of funding or budget allocation. By setting a specific target, the Air Force can then develop strategies and plans to meet that goal, ensuring that financial planning is focused and aligned with the overall objectives of the organization.Rate this question:
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- 28.
How many parts are included in the Bogey?
- A.
One.
- B.
Two.
- C.
Three.
- D.
Four.
Correct Answer
B. Two.Explanation
The question is asking about the number of parts included in the Bogey. The given answer is "Two." This suggests that the Bogey is composed of two parts.Rate this question:
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- 29.
Budgeting provides a means for coordinating activities toward what common goal?
- A.
Mission accomplishment.
- B.
Functional area interaction.
- C.
Financial blueprint development.
- D.
Implementation of a rigid planning document.
Correct Answer
A. Mission accomplishment.Explanation
Budgeting provides a means for coordinating activities toward the common goal of mission accomplishment. By allocating resources and setting financial targets, budgeting ensures that the organization's activities are aligned with its mission and objectives. It helps prioritize and allocate funds to different departments and projects, ensuring that they contribute to the overall mission of the organization. Budgeting also facilitates communication and collaboration among different functional areas, ensuring that they work together towards the common goal of mission accomplishment.Rate this question:
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- 30.
A balanced equitable program consists of a balance between
- A.
Mission and support requirements
- B.
Mission and nonappropriated requirements.
- C.
Nonappropriated and support requirements.
- D.
Nonappropriated and appropriated requirements.
Correct Answer
A. Mission and support requirementsExplanation
A balanced equitable program requires a harmony between the mission, which represents the goals and objectives of the program, and the support requirements, which encompass the necessary resources and assistance needed to achieve those goals. This balance ensures that the program is effectively supported while staying aligned with its mission.Rate this question:
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- 31.
The operations and maintenance (O&M) execution plan will have narratives written at what level?
- A.
Subactivity group (SAG).
- B.
Product enhancing capital (PEC).
- C.
Element of expense investment code (EEIC).
- D.
Responsibility Center/Cost Center (RCCC).
Correct Answer
A. Subactivity group (SAG).Explanation
The narratives in the operations and maintenance (O&M) execution plan will be written at the subactivity group (SAG) level. This means that the plan will provide detailed explanations and descriptions of the tasks and activities to be performed within each subactivity group. The narratives will outline the specific responsibilities, procedures, and requirements for each SAG, ensuring that all necessary information is provided for effective execution of the O&M plan.Rate this question:
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- 32.
How many sections must be included in the operations and maintenance (O&M) execution plan?
- A.
Two.
- B.
Three.
- C.
Four.
- D.
Five.
Correct Answer
C. Four.Explanation
The correct answer is four because an operations and maintenance (O&M) execution plan typically includes four sections. These sections are essential for effective planning and execution of O&M activities. Each section focuses on a specific aspect of the O&M process, such as objectives, responsibilities, procedures, and documentation. By including these four sections in the plan, organizations can ensure that all necessary information and guidelines are provided to effectively carry out O&M tasks.Rate this question:
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- 33.
Who reviews the financial plan to make sure that estimated costs and justifications are actual and complete?
- A.
Financial Management Analysis (FMA).
- B.
Financial Management Board (FMB).
- C.
Financial Working Group (FWG).
- D.
Comptroller.
Correct Answer
B. Financial Management Board (FMB).Explanation
The Financial Management Board (FMB) is responsible for reviewing the financial plan to ensure that estimated costs and justifications are accurate and comprehensive. As a governing body, the FMB plays a crucial role in overseeing financial management and ensuring that all financial decisions are sound and align with the organization's goals and objectives. Their review helps to validate the financial plan and ensure that it is reliable for decision-making purposes.Rate this question:
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- 34.
You can submit the budget to the major command (MAJCOM) after whose approval?
- A.
Financial Management Board (FMB).
- B.
Financial Working Group (FWG).
- C.
Supervisor.
- D.
Commander.
Correct Answer
A. Financial Management Board (FMB).Explanation
The correct answer is Financial Management Board (FMB). The FMB is responsible for overseeing and approving budgets within a major command (MAJCOM). They review and analyze budget proposals, ensuring they align with the overall financial goals and objectives of the MAJCOM. Once the FMB approves the budget, it can be submitted for further review and implementation.Rate this question:
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- 35.
What perspective in the Commander’s Resource Information System (CRIS) do you use to retrieve an end-of-day snapshot of the most current budget execution data?
- A.
Program Summary Record (PSR).
- B.
Fund Summary Record (FSR).
- C.
Control Summary Record (CSR).
- D.
Document Summary Record (DSR).
Correct Answer
A. Program Summary Record (PSR).Explanation
In the Commander's Resource Information System (CRIS), the Program Summary Record (PSR) perspective is used to retrieve an end-of-day snapshot of the most current budget execution data. The PSR provides a summary of the budget execution for a specific program, including information on funds allocated, obligations, expenditures, and balances. It allows commanders to track and monitor the financial performance of their programs and make informed decisions based on the current budget status. The PSR perspective is essential for staying updated on the budget execution and ensuring effective resource management.Rate this question:
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- 36.
If your commander wants to know how the unit is executing their 2008 TDY budget, what data should you use in the search criteria in the Commander’s Resource Information System (CRIS)?
- A.
Element of expense investment code (EEIC) of 409 only.
- B.
EEIC of 409, fund code of 30, and fiscal year.
- C.
Fiscal year of 2007 and fund code of 30 only.
- D.
Fund code of 30 only.
Correct Answer
B. EEIC of 409, fund code of 30, and fiscal year.Explanation
The commander wants to know how the unit is executing their 2008 TDY budget. To find this information in the Commander's Resource Information System (CRIS), the search criteria should include an Element of expense investment code (EEIC) of 409, a fund code of 30, and the fiscal year. This combination of criteria will narrow down the search to the specific budget execution data for the unit's TDY budget in 2008.Rate this question:
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- 37.
On what time interval basis are research, development, test and evaluation (RDT&E) fundsset up?
- A.
No-year.
- B.
Quarterly
- C.
Annually.
- D.
Multiple-year.
Correct Answer
D. Multiple-year.Explanation
RDT&E funds are set up on a multiple-year basis. This means that the funds allocated for research, development, test, and evaluation activities are planned and budgeted for a period of more than one year. This allows for long-term planning and execution of projects, as well as the flexibility to allocate funds over several years to ensure the successful completion of RDT&E activities. Quarterly and annually would not provide the necessary long-term planning and stability required for RDT&E projects, while no-year would imply that there is no specific time frame for the funds, which is not the case.Rate this question:
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- 38.
Which program within the research, development, test and evaluation (RDT&E) appropriation includes work performed under contract with other government agencies, private industry, and educational institutions?
- A.
Mission.
- B.
Outsourcing.
- C.
Management and support.
- D.
Operations and maintenance (O&M).
Correct Answer
A. Mission.Explanation
The program within the RDT&E appropriation that includes work performed under contract with other government agencies, private industry, and educational institutions is Mission. This program focuses on the overall mission of the organization and involves collaboration with external entities to achieve research, development, test, and evaluation goals.Rate this question:
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- 39.
At which level does the Air Force manage research, development, test and evaluation (RDT&E) funds for the current and immediate preceding fiscal year?
- A.
Program element (PE).
- B.
Military force program (MFP).
- C.
DOD element of expense (DODEE).
- D.
Responsibility Center/Cost Center (RC/CC) code.
Correct Answer
A. Program element (PE).Explanation
The correct answer is Program element (PE). The program element level is where the Air Force manages research, development, test, and evaluation (RDT&E) funds for the current and immediate preceding fiscal year. This level allows for the allocation and tracking of funds specifically for RDT&E activities within the Air Force. The program element level provides a more detailed breakdown of how funds are being used and allows for better management and oversight of RDT&E projects.Rate this question:
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- 40.
What are the two appropriations for management of military family housing (MFH)?
- A.
57*7020 and 57*7040.
- B.
57*7030 and 57*7045.
- C.
57*7045 and 57*7040.
- D.
57*7045 and 57*7080.
Correct Answer
C. 57*7045 and 57*7040.Explanation
The correct answer is 57*7045 and 57*7040. These two appropriations are used for the management of military family housing (MFH). The first appropriation, 57*7045, is likely used for the maintenance and upkeep of the housing units, while the second appropriation, 57*7040, may be used for the construction or acquisition of new housing units. Together, these appropriations support the management and improvement of military family housing.Rate this question:
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- 41.
What budget program is set up to cover operations and maintenance (O&M) costs of themilitary family housing (MFH) program?
- A.
710
- B.
720
- C.
730
- D.
740
Correct Answer
B. 720Explanation
The correct answer is 720. The budget program 720 is set up to cover operations and maintenance (O&M) costs of the military family housing (MFH) program. This program specifically focuses on the expenses related to the upkeep and management of military family housing facilities.Rate this question:
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- 42.
Which expense is not reimbursable for military family housing (MFH)?
- A.
Charges for mobile home space rental.
- B.
Amounts paid for utilities and services.
- C.
Support of family housing owned by another service.
- D.
Charges for initial utility connection of privately owned mobile homes.
Correct Answer
A. Charges for mobile home space rental.Explanation
Expenses for mobile home space rental are not reimbursable for military family housing (MFH). This means that if a military family chooses to live in a mobile home and rents the space for it, they will have to bear the cost themselves without any reimbursement. The other options, such as amounts paid for utilities and services, support of family housing owned by another service, and charges for initial utility connection of privately owned mobile homes, may be eligible for reimbursement.Rate this question:
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- 43.
Can your commander purchase egg rolls for a Chinese day function using appropriated funds and if so, when?
- A.
Yes, and the size does not matter.
- B.
Yes, as long as they are “sample size.”
- C.
No, egg rolls are always considered to be a meal.
- D.
No, any type of food cannot be purchased legally with appropriated funds.
Correct Answer
B. Yes, as long as they are “sample size.”Explanation
The correct answer is "Yes, as long as they are 'sample size'." This means that the commander can purchase egg rolls for the Chinese day function using appropriated funds, as long as the egg rolls are small enough to be considered as samples rather than a full meal.Rate this question:
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- 44.
What is the very heart of the financial management process that allow you to estimate,justify, and manage base fund requirements?
- A.
Approved programs.
- B.
Proper documentation.
- C.
Formatted justification.
- D.
MAJCOM authorizations.
Correct Answer
A. Approved programs.Explanation
The heart of the financial management process that allows you to estimate, justify, and manage base fund requirements is approved programs. This means that the financial management process relies on having programs that have been approved and authorized, which ensures that the funds allocated are being used for the intended purposes. Approved programs provide the necessary framework for estimating and justifying the fund requirements, as well as managing the allocation and utilization of funds effectively.Rate this question:
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- 45.
Financial plan year fund requirements may vary from historical data because of
- A.
One-time fund requirements and program changes.
- B.
Program changes and an escalating cost-of-living index.
- C.
One-time fund requirements and an escalating cost-of-living index.
- D.
Previous year austere funding and steady operations and maintenance spending.
Correct Answer
A. One-time fund requirements and program changes.Explanation
Financial plan year fund requirements may vary from historical data because of one-time fund requirements and program changes. One-time fund requirements refer to specific financial needs that arise in a particular year and are not recurring. These could include unexpected expenses or investments in new projects. Program changes can also impact fund requirements as they may involve additional costs or reallocation of resources. Therefore, both one-time fund requirements and program changes can cause variations in the financial plan year fund requirements compared to historical data.Rate this question:
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- 46.
The appropriation system provides for
- A.
A specific amount of money for a specific purpose for a specific period.
- B.
Management with a tool for measuring the progress of its programs.
- C.
Managers to look at their historical data as a starting point for programming future requirements.
- D.
Scrutinizing and updating all data for known program or price changes in order to check for different ways to accomplish the mission.
Correct Answer
A. A specific amount of money for a specific purpose for a specific period.Explanation
The appropriation system provides a specific amount of money for a specific purpose for a specific period. This means that funds are allocated for a particular use within a defined timeframe. This allows for better financial planning and control as it ensures that resources are allocated appropriately and that the organization stays within its budget constraints. It also enables accountability and transparency as the use of funds can be tracked and evaluated.Rate this question:
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- 47.
Analysis of historical data does not involve the full act of analyzing
- A.
Plans.
- B.
Programs.
- C.
Operations.
- D.
Requirements.
Correct Answer
D. Requirements.Explanation
The analysis of historical data refers to the process of examining past data and trends to gain insights and make informed decisions. It does not involve analyzing plans, programs, operations, or any other specific actions. However, analyzing requirements is an essential part of understanding the needs and objectives that should be considered when analyzing historical data. Therefore, the correct answer is requirements.Rate this question:
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- 48.
When tracking money due to the government, which item would you identify as a recoveryof excess payments accredited to an appropriation?
- A.
A refund.
- B.
A reimbursement.
- C.
A collection of monies taken during religious services.
- D.
A collection resulting from the sale of goods or services.
Correct Answer
A. A refund.Explanation
A refund is the correct answer because it refers to the return of excess payments made to the government. When tracking money due to the government, a refund would be identified as the recovery of excess payments accredited to an appropriation. It implies that the government has acknowledged the overpayment and is returning the excess amount to the payer.Rate this question:
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- 49.
When the Air Force takes steps to initially construct an NCO open mess facility, what typeof funds would it use?
- A.
Nonappropriated funds.
- B.
Reimbursable O&M funds.
- C.
Military construction appropriation.
- D.
Operations and maintenance appropriation.
Correct Answer
C. Military construction appropriation.Explanation
The Air Force would use military construction appropriation funds when taking steps to initially construct an NCO open mess facility. These funds are specifically allocated for the purpose of constructing military facilities and infrastructure.Rate this question:
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- 50.
Total Obligation Authority (TOA) includes both Direct Budget Authority (DBA) and
- A.
Reimbursement Budget Authority (RBA).
- B.
Cost-Benefit Analysis (CBA).
- C.
Total Actual Authority (TAA).
- D.
Operations and maintenance (O&M).
Correct Answer
A. Reimbursement Budget Authority (RBA).Explanation
The Total Obligation Authority (TOA) is the total amount of funds that an agency is authorized to obligate for a specific fiscal year. It includes both Direct Budget Authority (DBA), which refers to funds appropriated directly to the agency, and Reimbursement Budget Authority (RBA), which refers to funds received from other sources as reimbursements. Therefore, the correct answer is Reimbursement Budget Authority (RBA).Rate this question:
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