Reference no: EM13488607

(a) Which one of the following is LEAST likely to be involved in the process that results in the Concurrent Budget Resolution?
House Budget Committee
Undersecretary of Defense (Comptroller)
Senate Budget Committee
Congressional Budget Office

(b) The Department of Defense moved funds from the Overseas Contingency Transfer Account to the Army's Military Personnel appropriation to cover extra costs associated with deploying troops unexpectedly to Afghanistan. This action required: (select one)
Below-threshold reprogramming
Congressional notification reprogramming
Internal reprogramming
Congressional prior approval reprogramming

(c) Obligation and expenditure plans: (select one)
Are prepared by Program Management Offices
Should be coordinated with the Administrative Contracting Officer
Should include as many fourth-quarter obligations and expenditures as possible to minimize the possibility of falling behind the execution plan
Should reflect the most optimistic schedule for executing funds

(d) A contract for a special piece of research equipment costing $200,000 was awarded using funds from a Procurement appropriation. This action did not cause any formal subdivision of the Procurement appropriation to be exceeded. This action most likely:
Did not violate any fiscal laws
Violated the Misappropriation Act
Violated the Antideficiency Act
Violated the Bona Fide Need Rule

( e) An ACAT I program is just starting its Production and Deployment acquisition phase. Which one of the following reports is the program LEAST likely to be required to submit?
Congressional Acquisition Executive Summary
Selected Acquisition Report
Unit Cost Report
Defense Acquisition Executive Summary

( f) Which of the following is true concerning below-threshold reprogrammings in Procurement appropriations? Select all that apply.
The amount taken from an existing Line Item must be less than $20 million or 20% of the baseline amount appropriated to the Line Item, whichever is smaller
The amount added to an existing Budget Activity must be less than $10 million
The amount added to an existing Project must be less than $2 million or 25% of the Project's original value, whichever is greater
The amount added to an existing Line Item must be less than $20 million or 20% of the baseline amount appropriated to the Line Item, whichever is smaller

(g)) Under which one of the following conditions would a Contract Funds Status Report (CFSR) MOST likely to be requested?
Fixed Price Incentive contract valued at $5 million (constant FY 1990 dollars)
Firm Fixed Price contract over 6 months in duration
Cost Plus Fixed Fee contract less than 6 months in duration
Cost Plus Incentive Fee contract valued at $250,000 (constant FY 1990 dollars)

(h)) Match each of the following terms with the statement that most appropriately describes it:
a) Matching items: Statement of Objectives
b) Matching items: Statement of Work

Matching Choice: Provides broad goals to be met by the acquisition a b
Matching Choice: Identifies specific tasks to be performed by the contractor a b

i) All of the following sections of the uniform contract format are likely to be of interest to the business financial manager EXCEPT:
Section F
Section C
Section D
Section G

j) A contract funded with FY 96 Aircraft Procurement, Navy funds was finally closed out in May 2009. At this time, it was discovered that the contractor was still owed $350,000 for work performed on the contract. What appropriations could be used to pay this bill during FY 2009? Select all that apply.
FY 09 Weapons Procurement, Navy
FY 07 Aircraft Procurement, Navy
FY 09 Aircraft Procurement, Navy
FY 96 Aircraft Procurement, Navy

k) In March 2009, $250,000 of FY 09 O&M funds were used to finance an equipment maintenance contract running from April 2009 to March 2010. In October 2009, the government and the contractor agreed to an out-of-scope contract modification that increased the contract cost by $80,000. The correct obligation transaction covering this contract modification is: (select one)
$80,000 of FY 09 O&M funds
$330,000 of FY 10 O&M funds
$80,000 of FY 10 O&M funds
$330,000 of FY 09 O&M funds

l) Which of the following statements concerning new starts is true? Select all that apply.
DoD is normally permitted to initiate a new start while operating under a Continuing Resolution
DoD may spend funds on a safety modification new start costing less than $20 million immediately after delivering a letter notification to the appropriate Congressional committees
DoD must wait a minimum of 30 days after Congress receives a letter notification before spending funds on new starts that do not meet the criteria for prior approval and that are not safety modifications
DoD must obtain written approval from Congress before spending any funds on a new start whose cost over the first three years is more than $10 million in RDT&E or $20 million in Procurement

m) Which of the following documents results from the appropriations phase of the budget enactment process? Select all that apply.
Concurrent Budget Resolution
Energy and Water Development Appropriations Act
Defense Appropriations Act
National Defense Authorization Act

n) $150,000 was committed in February for a research and development contract to be awarded in May. Unfortunately, the lowest bid received by the Procuring Contracting Officer was $200,000. According to the rules governing commitments: (select one)
The official who authorized the original commitment need not take any action
The $200,000 obligation for the contract award can be recorded without adjusting the original commitment amount
A new commitment for the $200,000 should be recorded
The original commitment amount must be increased to $200,000 before the obligation can be recorded