Fiscal Law Final Exam, Questions And Answers. Latest 2022

Fiscal Law Final Exam, Questions And Answers. Latest 2022. QUE S T ION 1 1. It is appropriate for the Army to acquire lawn cutting services through the Project Order Statute. True False QUE S T ION 2 1. The proper amount of money to obligate at the award of a firm fixed- price contract is: The full amount of the contract. Nothing until the contractor performs the required work. Half of the total liability. A conservative amount based on the government’s estimated future requirements. QUE S T ION 3 1. How long does the Department of Defense Financial Management Regulation give an individual discovering a possible Antideficiency Act violation to report it to his/her chain of command and the Financial Management Comptroller? 5 working days. 2 weeks. 90 calendar days. 45 days. QUE S T ION 4 1. On 1 September 2011 the command at New Sands Missile Range purchases an x-ray machine for the installation hospital, which arrives and is accepted on 15 September 2011. The x-ray machine is not needed until August of 2012, when an increased number of Soldiers arrive due to BRAC. Assuming there is no applicable delivery or production lead time exception (as this is a commercial item and readily available off the shelf), has an ADA violation been committed and is it correctable? No ADA violation has been committed. As the bona fide need is in 2012, an ADA violation has been committed but it is correctable. As the bona fide need is in 2012, an ADA violation has been committed, and is not correctable since proper funds, FY 2012 O&M (or procurement, depending on the value) were not available at the time of obligation. Although the bona fide need is in 2012, there is no ADA violation because the command was engaged in advanced planning, and was smartly purchasing an item ahead of the expected need and perhaps even getting a better price. QUE S T ION 5 1. On 30 September 2010, $275,000 remains in the Operations and Maintenance, Army (OMA) allowance at the XVIII Airborne Corps. On that day, the contracting officer is about to award a supply contract, obligating $300,000 OMA. Award of the supply contract: Will cause an Antideficiency Act (ADA) violation because the contract price exceeds the amount of OMA available at the XVIII Airborne Corps. Will cause an ADA violation unless the contracting officer shows that she neither knew nor should have known that the XVIII Airborne Corps had only $275,000 in the OMA account. Will cause an ADA violation if the XVIII Airborne Corps’s major command, FORSCOM, lacks sufficient OMA funds in its formal subdivision to cover the overobligation. Will not cause an ADA violation if Congress enacts either a Continuing Resolution Authority (CRA) or a permanent appropriation before the vendor seeks payment for the supplies. Will not cause an ADA violation because the OMA account at the XVIII Airborne Corps was a target/allowance and an obligation in excess of a target/allowance can never result in an ADA violation.