6f051 Edit Code 7 Set 2

100 Questions | Total Attempts: 202

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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

  • 2. 
    An economic analyss (EA) is an aid to rational choice among competing alternatives. How many steps are in a formal EA?
    • A. 

      Three

    • B. 

      Four

    • C. 

      Five

    • D. 

      Six

  • 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

  • 4. 
    Funding variances occur when reprogramming actions take place, identify the two types of funding variances?
    • A. 

      Macro and micro

    • B. 

      Slippage and stoppage

    • C. 

      Slippage and accelaration

    • D. 

      Acceleration and stoppage

  • 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

  • 6. 
    While standard organizational structuresare defined n Air Force Instruction AFI 38-101, who determines the organzational structure of your base?
    • A. 

      The DFAS

    • B. 

      The SAF

    • C. 

      The FSO

    • D. 

      The MAJCOM

  • 7. 
    Under which group in an objective wing would you find weapon systems operators such as pilots, navigators, flight engineers, and missle launch officers?
    • A. 

      Operations

    • B. 

      Logistics

    • C. 

      Support

    • D. 

      Medical

  • 8. 
    The group in a wing responsible for supply, transportation, and contracting is
    • A. 

      Operations

    • B. 

      Logistics

    • C. 

      Medical

    • D. 

      Support

  • 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

  • 10. 
    The rules and procedures for using funds appropriated to the Air Force can be found in AFI 65-601, volume
    • A. 

      1

    • B. 

      2

    • C. 

      3

    • D. 

      5

  • 11. 
    Which AFI contains current symbols and budget codes and their descriptions?
    • A. 

      AFMAN 65-604

    • B. 

      AFMAN 65-504

    • C. 

      AFMAN 65-503

    • D. 

      AFMAN 6-501

  • 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

  • 13. 
    The first phase of the 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

  • 14. 
    Which cycle of the 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

  • 15. 
    DOD functional categories are classifications of expense that are directly subordinate to
    • A. 

      Program elements (PE)

    • B. 

      Major force programs (MFP)

    • C. 

      DOD elements of expense (DODEE)

    • D. 

      Air Force elements of expense/investment codes (EEIC)

  • 16. 
    In which stage of the budget cycle are estimates developed within the DOD accounting structure?
    • A. 

      Review

    • B. 

      Execution

    • C. 

      Enactment

    • D. 

      Formulation

  • 17. 
    The Chief of Staff of the Air Force approves or adjusts estimates and submits them to what agency or office that wil make the last official action to either approve or adjust the Dept of the Air Force budget estimate?
    • A. 

      Air Force Council

    • B. 

      Natinal Security Council (NSC)

    • C. 

      Secretary of the Air Force (SAF)

    • D. 

      Office of Management and Budget (OMB)

  • 18. 
    Which federal department or agency prepares the appropriation warrant?
    • A. 

      Headquarters US Air Force

    • B. 

      DOD

    • C. 

      Department of the Treasury

    • D. 

      Office of Management and Budget (OMB)

  • 19. 
    Of the two types of documents issued to the major commands, which one makes funds available for obligation from an allocation or suballocation?
    • A. 

      Allotment

    • B. 

      Appropriation Warrant

    • C. 

      Apportionment request

    • D. 

      Operating budget authority

  • 20. 
    Identify the document that contains annual and quarterly funding authority within the operations and maintenence appropriation?
    • A. 

      Allotment

    • B. 

      Appropriation Warrant

    • C. 

      Apportionment request

    • D. 

      Operating budget authority

  • 21. 
    Which appropriation, by perod of availabiltiy, has the greatest impact on base management?
    • A. 

      No year

    • B. 

      One year

    • C. 

      Two year

    • D. 

      Multiple year

  • 22. 
    What are teh two statuses of availability categories for appropriation accounts?
    • A. 

      Current and expired

    • B. 

      Current and direct

    • C. 

      Expired and indirect

    • D. 

      Expired and direct

  • 23. 
    Funds made availabe 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

  • 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

  • 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

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