FOB105 FM BODY OF KNOWLEDGE (FMBOK)
110 QUESTIONS WITH COMPLETE
SOLUTIONS!!
In a typical wing structure, who is responsible for the use of wing financial
services for military and civilian personnel? Answer - Comptroller Squadron
The ____________ operates the wing's primary mission weapons system.
Answer - Operations Group
Which is a function of a Cost Center Manager (CCM)? Answer - Regulates the
daily consumption of resources
Which is a function of the Financial Management Analysis (FMA) Officer?
Answer - 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 Answer - FMB (Financial Management
Board)
The _____________ is the Chairperson of the Financial Working Group (FWG).
Answer - Financial Management Analysis Officer
In a typical wing organization, Responsibility Center Managers (RCMs) are
usually _____________. Answer - 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.
Answer - Resource Management System
Cost Center Managers (CCMs) are usually at the _____________ level. Answer
- Squadron
The Financial Working Group (FWG) manages commodities and resources
integral to: Answer - Base/unit level operations activities
"The established rule that is expenditure of public funds is proper only when
authorized by Congress," describes: Answer - Legislative Authority
_____________ has the ability to appropriate funds to be spent by the federal
government. Answer - Congress
The three main elements that must be reviewed and we must ensure are
properly examined before funds are obligated are: Answer - 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. Answer - 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. Answer - True
110 QUESTIONS WITH COMPLETE
SOLUTIONS!!
In a typical wing structure, who is responsible for the use of wing financial
services for military and civilian personnel? Answer - Comptroller Squadron
The ____________ operates the wing's primary mission weapons system.
Answer - Operations Group
Which is a function of a Cost Center Manager (CCM)? Answer - Regulates the
daily consumption of resources
Which is a function of the Financial Management Analysis (FMA) Officer?
Answer - 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 Answer - FMB (Financial Management
Board)
The _____________ is the Chairperson of the Financial Working Group (FWG).
Answer - Financial Management Analysis Officer
In a typical wing organization, Responsibility Center Managers (RCMs) are
usually _____________. Answer - 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.
Answer - Resource Management System
Cost Center Managers (CCMs) are usually at the _____________ level. Answer
- Squadron
The Financial Working Group (FWG) manages commodities and resources
integral to: Answer - Base/unit level operations activities
"The established rule that is expenditure of public funds is proper only when
authorized by Congress," describes: Answer - Legislative Authority
_____________ has the ability to appropriate funds to be spent by the federal
government. Answer - Congress
The three main elements that must be reviewed and we must ensure are
properly examined before funds are obligated are: Answer - 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. Answer - 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. Answer - True
