CDFM Resource Management Environment 4

Question 1

What document communicates the Secretary of Defense's fiscal guidance to the Military Departments and Defense Agencies at the start of the programming phase?

Accepted Answer

Fiscal Guidance (FG)

Answer

Fiscal Guidance provides the Services with specific resource levels and constraints to use when building their Program Objective Memoranda during the programming phase.

Question 2

Under DoD financial management, 'expired' appropriations differ from 'cancelled' appropriations in that expired funds:

Accepted Answer

Can still be used to adjust or liquidate valid obligations from the period of availability

Answer

Expired appropriations have passed their period of availability for new obligations but can still be used for up to five years to adjust or liquidate valid prior-year obligations.

Question 3

Which of the following scenarios would most likely constitute an Antideficiency Act violation?

Accepted Answer

Entering into a contract that commits funds in excess of available appropriations

Answer

Entering into a contract that commits funds beyond the available appropriation is the classic Antideficiency Act violation, as it creates a legal obligation without budget authority.

Question 4

In the resource management environment, what is an 'unfunded requirement' (UFR)?

Accepted Answer

A validated need that has not been allocated funding in the approved budget or program

Answer

An unfunded requirement (UFR) is a validated operational or programmatic need that was not included in the approved budget due to resource constraints.

Question 5

What is the primary function of the Defense Finance and Accounting Service (DFAS) within the DoD resource management environment?

Accepted Answer

To provide finance and accounting services, and produce financial statements for DoD components

Answer

DFAS provides finance and accounting services, processes payments, maintains financial records, and produces financial statements for DoD components.

CDFM - Certified Defense Financial Manager Practice Test

CDFM - Certified Defense Financial Manager Practice Test

CDFM Resource Management Environment 4