Volume 2: Fiscal Applications & Analysis

86 Questions | Total Attempts: 130

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Application Quizzes & Trivia

AF FM SKT study questions.


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. 
    How many steps are in a formal EA?
    • A. 

      Three

    • B. 

      Four

    • C. 

      Five

    • D. 

      Six

  • 3. 
    The key to successfully accomplishing your role as a financial analyst is your
    • A. 

      Determination

    • B. 

      Hard work and knowledge

    • C. 

      Professionalism education and other classes

    • D. 

      Professionalism reputation and in-depth knowledge of your wing's mission and structure

  • 4. 
    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

  • 5. 
    The group in a wing responsible for supply, transportation, and contracting is
    • A. 

      Operations

    • B. 

      Logistics

    • C. 

      Medical

    • D. 

      Support

  • 6. 
    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

  • 7. 
    Which Air Force instruction contains current symbols and budget codes and their descriptions?
    • A. 

      AFMAN 65-604

    • B. 

      AFMAN 65-504

    • C. 

      AFMAN 65-503

    • D. 

      AFMAN 65-501

  • 8. 
    Which publication establishes prerequisites for recording obligations?
    • A. 

      DFAS-DE 7000.4-R

    • B. 

      DFAS-DE 7077.2-M

    • C. 

      DOD 4000.19-R

    • D. 

      OMB A-76

  • 9. 
    The first phase of the DOD biennial planning, programming, and budgeting decision-making process 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

  • 10. 
    How are program elements distributed to MAJCOM and bases?
    • A. 

      With identifiable costs

    • B. 

      As missions and programs

    • C. 

      As combat support categories

    • D. 

      With proper responsibility assigned at each level

  • 11. 
    Department of Defense functional categories are classifications of expense that are directly subordinate to
    • A. 

      Program elements

    • B. 

      Major force programs

    • C. 

      DOD elements of expense

    • D. 

      AF elements of expense/investment codes

  • 12. 
    At what three levels does the 0-1 budget structure collect and report data?
    • A. 

      BA, AG, SAG

    • B. 

      MFP, PE, and BA

    • C. 

      MFP, PE, and EEIC

    • D. 

      MFP, PE, and fund code

  • 13. 
    In which stage of the budget cycle are estimates developed within the DOD accounting structure?
    • A. 

      Review

    • B. 

      Execution

    • C. 

      Enactment

    • D. 

      Formulation

  • 14. 
    What agency or office has the final approval or adjustment authority over the Department of the Air Force budget estimate?
    • A. 

      Air Force Council

    • B. 

      National Security Council (NCS)

    • C. 

      Secretary of the Air Force (SAF)

    • D. 

      Office of Management and Budget (OMB)

  • 15. 
    What action can the Air Force take if it feels it cannot perform its mission with what is indicated in the letters of allowances?
    • A. 

      Initiate reclama action

    • B. 

      Appeal to the Secretary of Defense

    • C. 

      Initiate repeal of budget formulations

    • D. 

      Appeal to the Secretary of the Air Force

  • 16. 
    Which federal department or agency prepares the appropriation warrant?
    • A. 

      Headquarters USAF

    • B. 

      Deaprtment of Defense (DOD)

    • C. 

      Department of the Treasury

    • D. 

      Office of Management and Budget (OMB)

  • 17. 
    The Air Force must submit initial apportionment requests through the
    • A. 

      SOD to DOD

    • B. 

      DOD to OMB

    • C. 

      SAF to the DOD

    • D. 

      SAF to the OMB

  • 18. 
    The item that makes funds available for obligation from an allocation or suballocation is an
    • A. 

      Allotment

    • B. 

      Appropriation warrant

    • C. 

      Apportionment request

    • D. 

      Operating budget authority

  • 19. 
    What item identifies annual and quarterly funding authority within the operations and maintenance appropriation?
    • A. 

      Allotment

    • B. 

      Appropriation warrant

    • C. 

      Apportionment request

    • D. 

      Operating budget authority

  • 20. 
    Which appropriation, by period of availability, has the greatest impact on base management?
    • A. 

      No-year

    • B. 

      One-year

    • C. 

      Two-year

    • D. 

      Multiple-year

  • 21. 
    The purpose of financial planning is to
    • A. 

      Develop a financial blueprint

    • B. 

      Prepare the financial plan submission

    • C. 

      Use resources effectively and efficiently

    • D. 

      State all fund requirements for mission accomplishment

  • 22. 
    The basic purpose of the O&M execution plan is to ensure an equitable apportionment of
    • A. 

      Call for estimates

    • B. 

      Defense guidance

    • C. 

      President's budget

    • D. 

      Unfunded requirements

  • 23. 
    The directive to price an approved program is a specific format is called
    • A. 

      POM

    • B. 

      USAF Call

    • C. 

      Command Call

    • D. 

      Defense guidance

  • 24. 
    How many parts are included in the Bogey?
    • A. 

      One

    • B. 

      Two

    • C. 

      Three

    • D. 

      Four

  • 25. 
    Personnel in the financial analysis office
    • A. 

      Prepare the financial plan alone

    • B. 

      Guide managers and resource advisors in perparing budget requirements

    • C. 

      Are not expected to be very familiar with the many functional areas on the installation

    • D. 

      Bear the sole responsibility of budgeting to include management concepts, techniques, and procedures

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