Best Grades | Must Pass | Latest Update | Correct Answers | 2024/2025
FOB105 FM Body of Knowledge (FMBOK)
Questions and Correct Answers | Latest
Update
In a typical wing structure, who is responsible for the use of wing financial services for military
and civilian personnel?
→ ~~> Comptroller Squadron
The ____________ operates the wing's primary mission weapons system.
→ ~~> Operations Group
Which is a function of a Cost Center Manager (CCM)?
→ ~~> Regulates the daily consumption of resources
Which is a function of the Financial Management Analysis (FMA) Officer?
→ ~~> Manages the budget, cost, and accounting functions for the base
The ______________ includes top-level managers, with membership tailored to the type of
organization structure involved to determine priorities and ensure effective allocation of
resources
→ ~~> FMB (Financial Management Board)
The _____________ is the Chairperson of the Financial Working Group (FWG).
→ ~~> Financial Management Analysis Officer
~1~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/2025
In a typical wing organization, Responsibility Center Managers (RCMs) are usually
_____________.
→ ~~> Group Commanders
The ______________ provides a way to establish priorities, choose policies, and act to get
the desired results and required resources at an acceptable cost.
→ ~~> Resource Management System
Cost Center Managers (CCMs) are usually at the _____________ level.
→ ~~> Squadron
The Financial Working Group (FWG) manages commodities and resources integral to:
→ ~~> Base/unit level operations activities
"The established rule that is expenditure of public funds is proper only when authorized by
Congress," describes:
→ ~~> Legislative Authority
_____________ has the ability to appropriate funds to be spent by the federal government.
→ ~~> Congress
The three main elements that must be reviewed and we must ensure are properly examined
before funds are obligated are:
~2~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/2025
→ ~~> Purpose, Time, and Amount
To apply reasonable discretion and flexibility, the Government Accountability Office (GAO)
developed the concept known as the _______________ which consists of a three-part test.
→ ~~> Necessary Expense Rule
The bona fida needs rule, as it pertains to supplies, states that generally. agencies must
obligate funds from the fiscal year in which the supplies is if you are maintaining a stock of
commonly used supplies (inventory), you are permitted to replenish those stocks using current
funding even if you may not use those supplies until the following fiscal year to avoid an
interruption of operations.
→ ~~> True
A(n) ________________ appropriation is to remain available until expended without fiscal
year limitation.
→ ~~> No-year
Under the "Seperation of Powers" doctrine, ________________ has the final word on how
much money can be spent by given agency or program.
→ ~~> Congress
The ADA imposes prohibitions (fiscal controls) at three levels: Appropriation Level,
Apportionment Level, Formal Subdivision Level.
→ ~~> True
~3~ for inquiry mail me @
FOB105 FM Body of Knowledge (FMBOK)
Questions and Correct Answers | Latest
Update
In a typical wing structure, who is responsible for the use of wing financial services for military
and civilian personnel?
→ ~~> Comptroller Squadron
The ____________ operates the wing's primary mission weapons system.
→ ~~> Operations Group
Which is a function of a Cost Center Manager (CCM)?
→ ~~> Regulates the daily consumption of resources
Which is a function of the Financial Management Analysis (FMA) Officer?
→ ~~> Manages the budget, cost, and accounting functions for the base
The ______________ includes top-level managers, with membership tailored to the type of
organization structure involved to determine priorities and ensure effective allocation of
resources
→ ~~> FMB (Financial Management Board)
The _____________ is the Chairperson of the Financial Working Group (FWG).
→ ~~> Financial Management Analysis Officer
~1~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/2025
In a typical wing organization, Responsibility Center Managers (RCMs) are usually
_____________.
→ ~~> Group Commanders
The ______________ provides a way to establish priorities, choose policies, and act to get
the desired results and required resources at an acceptable cost.
→ ~~> Resource Management System
Cost Center Managers (CCMs) are usually at the _____________ level.
→ ~~> Squadron
The Financial Working Group (FWG) manages commodities and resources integral to:
→ ~~> Base/unit level operations activities
"The established rule that is expenditure of public funds is proper only when authorized by
Congress," describes:
→ ~~> Legislative Authority
_____________ has the ability to appropriate funds to be spent by the federal government.
→ ~~> Congress
The three main elements that must be reviewed and we must ensure are properly examined
before funds are obligated are:
~2~ for inquiry mail me @
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/2025
→ ~~> Purpose, Time, and Amount
To apply reasonable discretion and flexibility, the Government Accountability Office (GAO)
developed the concept known as the _______________ which consists of a three-part test.
→ ~~> Necessary Expense Rule
The bona fida needs rule, as it pertains to supplies, states that generally. agencies must
obligate funds from the fiscal year in which the supplies is if you are maintaining a stock of
commonly used supplies (inventory), you are permitted to replenish those stocks using current
funding even if you may not use those supplies until the following fiscal year to avoid an
interruption of operations.
→ ~~> True
A(n) ________________ appropriation is to remain available until expended without fiscal
year limitation.
→ ~~> No-year
Under the "Seperation of Powers" doctrine, ________________ has the final word on how
much money can be spent by given agency or program.
→ ~~> Congress
The ADA imposes prohibitions (fiscal controls) at three levels: Appropriation Level,
Apportionment Level, Formal Subdivision Level.
→ ~~> True
~3~ for inquiry mail me @
