PFMC Exam 2 questions with verified
answers graded A+
What regulation is associated with the Federal Financial Management Framework? - correct
answer ✔✔OMB Circular A-123, Appendix D
What are the mandatory elements of the Core Financial Management System - correct answer
✔✔- Accountability
- Efficiency, economy, and effectiveness
- Decision making
What are some of the technical requirements of the Core Financial Management System? -
correct answer ✔✔- User interfaces
- Error messages and data entry efficiencies
- Interoperability
- Workflow and messaging
- Approvals and alerts
- Document management
What are some of the functional requirements of the Core Financial Management System? -
correct answer ✔✔- System Management
- General Ledger Management
- Budgetary Resource Management
- Payment Management
- Receivable Management
- Cost Management
, - Fund Balance with Treasury Management
What does the System Management function of the Core Financial Management System do? -
correct answer ✔✔It provides the ability to capture, classify, process, and report the financial
activity
Where are all financial transactions posted to? - correct answer ✔✔The General Ledger
Where do you go for assistance with Financial Management System Problems - correct answer
✔✔Customer Service
What type of reports are created on the fly, displaying information in
a table or a chart...result of a question...not already...codified in a production report? - correct
answer ✔✔Ad Hoc Reports
"Provide the best mix of forces, equipment, and support attainable within fiscal constraints" is
the _____ of the PPBE process - correct answer ✔✔Objective
What is the Objective of the PPBE process - correct answer ✔✔Provide the best mix of forces,
equipment, and support attainable within fiscal constraints
"Achieve defense objectives established by President and Secretary of Defense" is the ____ of
the PPBE process - correct answer ✔✔Goal
What is the Goal of the PPBE process? - correct answer ✔✔Achieve defense objectives
established by President and Secretary of Defense
What phase of the PPBE cycle do you Identify Capability Requirements? - correct answer
✔✔Planning
answers graded A+
What regulation is associated with the Federal Financial Management Framework? - correct
answer ✔✔OMB Circular A-123, Appendix D
What are the mandatory elements of the Core Financial Management System - correct answer
✔✔- Accountability
- Efficiency, economy, and effectiveness
- Decision making
What are some of the technical requirements of the Core Financial Management System? -
correct answer ✔✔- User interfaces
- Error messages and data entry efficiencies
- Interoperability
- Workflow and messaging
- Approvals and alerts
- Document management
What are some of the functional requirements of the Core Financial Management System? -
correct answer ✔✔- System Management
- General Ledger Management
- Budgetary Resource Management
- Payment Management
- Receivable Management
- Cost Management
, - Fund Balance with Treasury Management
What does the System Management function of the Core Financial Management System do? -
correct answer ✔✔It provides the ability to capture, classify, process, and report the financial
activity
Where are all financial transactions posted to? - correct answer ✔✔The General Ledger
Where do you go for assistance with Financial Management System Problems - correct answer
✔✔Customer Service
What type of reports are created on the fly, displaying information in
a table or a chart...result of a question...not already...codified in a production report? - correct
answer ✔✔Ad Hoc Reports
"Provide the best mix of forces, equipment, and support attainable within fiscal constraints" is
the _____ of the PPBE process - correct answer ✔✔Objective
What is the Objective of the PPBE process - correct answer ✔✔Provide the best mix of forces,
equipment, and support attainable within fiscal constraints
"Achieve defense objectives established by President and Secretary of Defense" is the ____ of
the PPBE process - correct answer ✔✔Goal
What is the Goal of the PPBE process? - correct answer ✔✔Achieve defense objectives
established by President and Secretary of Defense
What phase of the PPBE cycle do you Identify Capability Requirements? - correct answer
✔✔Planning
