CBS Regulatory Compliance & Ethics 3

Question 1

Which of the following best describes 'reprogramming' in federal budget management?

Accepted Answer

Moving funds within an appropriation account to use them for a different purpose

Answer

Reprogramming moves funds within the same appropriation account to cover different purposes, while transfers move funds between separate accounts.

Question 2

Under GAAP for governmental entities, which fund type accounts for activities similar to private-sector businesses?

Accepted Answer

Enterprise Fund

Answer

Enterprise funds use accrual accounting similar to private businesses and account for government activities that charge fees to external users, such as utilities.

Question 3

A budget analyst who knowingly certifies an inaccurate financial report to secure grant funding violates which fundamental ethical obligation?

Accepted Answer

Integrity

Answer

Integrity requires budget professionals to be honest and truthful; knowingly certifying false information is a direct breach of this core ethical obligation.

Question 4

Which federal statute requires agencies to report Antideficiency Act violations to both Congress and the President?

Accepted Answer

The Anti-Deficiency Act itself

Answer

The Anti-Deficiency Act requires agencies to report violations to the President and Congress, as well as OMB and the Government Accountability Office.

Question 5

In budgetary ethics, 'independence in appearance' means a budget specialist must:

Accepted Answer

Avoid situations that could make a reasonable observer doubt their objectivity

Answer

Independence in appearance requires avoiding circumstances that would cause a knowledgeable third party to question the professional's impartiality, even if no actual bias exists.

(CBS) Certified Budget Specialist Practice Test

(CBS) Certified Budget Specialist Practice Test

CBS Regulatory Compliance & Ethics 3