CDFM Financial Systems and Technology 5

Question 1

Which cybersecurity framework do DoD financial systems primarily rely on to categorize information and select security controls?

Accepted Answer

NIST Risk Management Framework (RMF)

Answer

DoD financial systems follow the NIST RMF, implemented through DoDI 8510.01, to categorize systems, select controls, and achieve Authority to Operate (ATO).

Question 2

In the context of DoD financial systems, what is a 'batch process' and when is it typically used?

Accepted Answer

An automated process that accumulates and processes transactions in groups at scheduled intervals

Answer

Batch processing groups multiple transactions and processes them together at scheduled times, commonly used for payroll runs, end-of-day postings, and system-to-system data transfers.

Question 3

What is the purpose of the DoD's Standard Line of Accounting (SLOA) data element within financial systems?

Accepted Answer

To provide a standardized coding structure that links transactions to budget and appropriation authority

Answer

The SLOA is a standardized accounting classification that ties every financial transaction back to its specific appropriation, fund, and budget authority, enabling traceability.

Question 4

A defense financial manager discovers that the accounting system posted a duplicate obligation. Which system control should have prevented this error?

Accepted Answer

Duplicate detection logic or edit checks in the obligation entry workflow

Answer

Automated duplicate detection edit checks within the system workflow are designed to flag or prevent identical obligation entries before they are posted.

Question 5

Which of the following is the correct sequence of steps in the DoD financial system transaction lifecycle?

Accepted Answer

Budget Authority → Commitment → Obligation → Expenditure → Disbursement

Answer

The standard DoD transaction lifecycle flows from budget authority through commitment, obligation, expenditure (accrual), and finally disbursement (cash payment).

CDFM - Certified Defense Financial Manager Practice Test

CDFM - Certified Defense Financial Manager Practice Test

CDFM Financial Systems and Technology 5