ACQ 101 Module 7 & Exam: Financial
Management questions n answers 2025 updated
1. Select the term that best fits the
following definition: "An administrative *Commitment*
reservation of funds by the local
comptroller, in anticipa- tion of a future
obligation."
2. Which of the following is a Life Cycle
Cost Category? *Research and Development*
3. Generally, the Engineering cost
technique method would be used early
in the life *False*
of the program during the TMRR Phase
when you do not have in-depth
information about the system you are
designing.
4. Which of the following appropriations
cat- egories provides funds for *Procurement*
programs that have been approved for
production?
5. The full funding policy governs the Pro-
curement and MILCON appropriations
*True*
cat- egories.
6. The primary product of the Planning phase *False*
is the National Defense Strategy (NDS),
which provides the priorities and objectives
for the service program request.
7. The primary products of the
Programming phase are the Program *True*
Objectives Memo- randum (POM) and
the Program Decision Memoranda
(PDM).
8. *All answers are correct*
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, ACQ 101 Module 7 & Exam: Financial
Management questions n answers 2025 updated
Which of the following is a product of the
Budgeting phase?
9. The purpose of the Execution review is *True*
to make assessments of current and
previ- ous resource allocations to
determine if the planned performance
goals were met.
10. The Budget Authority is provided by
which of the following? *Appropriations Bill*
11. After the budget authority has passed
its obligation period, it goes into the *False*
"Expired Account" for a period of 10
years and can- not be used for new
obligations.
12. The law that prohibits an obligation in
excess of the appropriated amount or
amount permitted by agency *Anti-Deficiency Act*
regulations is known as:
13. The execution phase occurs when appropri- *True*
ated funds are spent on defense programs.
14. Which of the following statement best
de- scribes the purpose of *Use funds for purposes other than
reprogramming? those originally intended by
Congress*
15. Below Threshold Reprogramming can
be used to change the appropriation
catego- ry (e.g., Change RDT&E *False*
appropriation into O&M appropriation).
16. *Obligation*
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9
Management questions n answers 2025 updated
1. Select the term that best fits the
following definition: "An administrative *Commitment*
reservation of funds by the local
comptroller, in anticipa- tion of a future
obligation."
2. Which of the following is a Life Cycle
Cost Category? *Research and Development*
3. Generally, the Engineering cost
technique method would be used early
in the life *False*
of the program during the TMRR Phase
when you do not have in-depth
information about the system you are
designing.
4. Which of the following appropriations
cat- egories provides funds for *Procurement*
programs that have been approved for
production?
5. The full funding policy governs the Pro-
curement and MILCON appropriations
*True*
cat- egories.
6. The primary product of the Planning phase *False*
is the National Defense Strategy (NDS),
which provides the priorities and objectives
for the service program request.
7. The primary products of the
Programming phase are the Program *True*
Objectives Memo- randum (POM) and
the Program Decision Memoranda
(PDM).
8. *All answers are correct*
1/
9
, ACQ 101 Module 7 & Exam: Financial
Management questions n answers 2025 updated
Which of the following is a product of the
Budgeting phase?
9. The purpose of the Execution review is *True*
to make assessments of current and
previ- ous resource allocations to
determine if the planned performance
goals were met.
10. The Budget Authority is provided by
which of the following? *Appropriations Bill*
11. After the budget authority has passed
its obligation period, it goes into the *False*
"Expired Account" for a period of 10
years and can- not be used for new
obligations.
12. The law that prohibits an obligation in
excess of the appropriated amount or
amount permitted by agency *Anti-Deficiency Act*
regulations is known as:
13. The execution phase occurs when appropri- *True*
ated funds are spent on defense programs.
14. Which of the following statement best
de- scribes the purpose of *Use funds for purposes other than
reprogramming? those originally intended by
Congress*
15. Below Threshold Reprogramming can
be used to change the appropriation
catego- ry (e.g., Change RDT&E *False*
appropriation into O&M appropriation).
16. *Obligation*
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