FOB105 FM Body of Knowledge
(FMBOK) Question and answers already
passed
Comptroller Squadron - correct answer ✔In a typical wing structure, who is
responsible for the use of wing financial services for military and civilian
personnel?
Operations Group - correct answer ✔The ____________ operates the wing's
primary mission weapons system.
Regulates the daily consumption of resources - correct answer ✔Which is a
function of a Cost Center Manager (CCM)?
Manages the budget, cost, and accounting functions for the base - correct
answer ✔Which is a function of the Financial Management Analysis (FMA)
Officer?
FMB (Financial Management Board) - correct answer ✔The
______________ includes top-level managers, with membership tailored to
the type of organization structure involved to determine priorities and ensure
effective allocation of resources
Financial Management Analysis Officer - correct answer ✔The
_____________ is the Chairperson of the Financial Working Group (FWG).
Group Commanders - correct answer ✔In a typical wing organization,
Responsibility Center Managers (RCMs) are usually _____________.
, Resource Management System - correct answer ✔The ______________
provides a way to establish priorities, choose policies, and act to get the
desired results and required resources at an acceptable cost.
Squadron - correct answer ✔Cost Center Managers (CCMs) are usually at
the _____________ level.
Base/unit level operations activities - correct answer ✔The Financial Working
Group (FWG) manages commodities and resources integral to:
Legislative Authority - correct answer ✔"The established rule that is
expenditure of public funds is proper only when authorized by Congress,"
describes:
Congress - correct answer ✔_____________ has the ability to appropriate
funds to be spent by the federal government.
Purpose, Time, and Amount - correct answer ✔The three main elements that
must be reviewed and we must ensure are properly examined before funds
are obligated are:
Necessary Expense Rule - correct answer ✔To apply reasonable discretion
and flexibility, the Government Accountability Office (GAO) developed the
concept known as the _______________ which consists of a three-part test.
True - correct answer ✔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.
(FMBOK) Question and answers already
passed
Comptroller Squadron - correct answer ✔In a typical wing structure, who is
responsible for the use of wing financial services for military and civilian
personnel?
Operations Group - correct answer ✔The ____________ operates the wing's
primary mission weapons system.
Regulates the daily consumption of resources - correct answer ✔Which is a
function of a Cost Center Manager (CCM)?
Manages the budget, cost, and accounting functions for the base - correct
answer ✔Which is a function of the Financial Management Analysis (FMA)
Officer?
FMB (Financial Management Board) - correct answer ✔The
______________ includes top-level managers, with membership tailored to
the type of organization structure involved to determine priorities and ensure
effective allocation of resources
Financial Management Analysis Officer - correct answer ✔The
_____________ is the Chairperson of the Financial Working Group (FWG).
Group Commanders - correct answer ✔In a typical wing organization,
Responsibility Center Managers (RCMs) are usually _____________.
, Resource Management System - correct answer ✔The ______________
provides a way to establish priorities, choose policies, and act to get the
desired results and required resources at an acceptable cost.
Squadron - correct answer ✔Cost Center Managers (CCMs) are usually at
the _____________ level.
Base/unit level operations activities - correct answer ✔The Financial Working
Group (FWG) manages commodities and resources integral to:
Legislative Authority - correct answer ✔"The established rule that is
expenditure of public funds is proper only when authorized by Congress,"
describes:
Congress - correct answer ✔_____________ has the ability to appropriate
funds to be spent by the federal government.
Purpose, Time, and Amount - correct answer ✔The three main elements that
must be reviewed and we must ensure are properly examined before funds
are obligated are:
Necessary Expense Rule - correct answer ✔To apply reasonable discretion
and flexibility, the Government Accountability Office (GAO) developed the
concept known as the _______________ which consists of a three-part test.
True - correct answer ✔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.
