NJ QPA STUDY SET TEST // NJ QPA STUDY SET TEST 250+ QUESTIO
n n n n n n n n n n n n
NS AND CORRECT ANSWERS 2023-2025//ALREADY GRADED A+
n n n n n n
State nofnNJnhasn5ntypesnornlevelsnofnlocalngovernmentnconsid
eredn"creaturesnof nthe nstate"ncreated,naltered,
andnabolishednbynonlynstate nlaw.n-nCORRECTnANSWER-1.ncounties
2. municipalities
3. schoolndistricts
4. localnauthorities
5. specialndistricts
Sourcesnof nBasicnLawn-nCORRECTnANSWER-1.nSessionnLawsn(PamphletnLaws)
2. RevisednStatuesnofnNJ
3. NJnStatutesnAnnotated
4. NJnAdministrative nCode
Whatnare nPamphletnLaws?n-nCORRECTnANSWER-
Billsnpassednduringneachnlegislative nsessionnandnsignednintonlawnbynthengovernornare nassignednanchapternn
umberninnnumericalnorder.nAtnendnofneachnyearnthesenchaptersnarenboundntogethernandnissuednasnansepar
ate nvolume.nGenerallyncalledn"sessionnlaws"nandnare nofficiallyninnknownninnNJnasn"PamphletnLaws"nEVERYn
2nYEARSnCHAPTERSnENDnOFn2nYRnPERIODnAREnBOUND
Whatnare nRevisednStatutesnofnNJ?n-nCORRECTnANSWER-
Periodnrevisionsnwhichnbringntogethernallnofnthengeneralnlegislationncurrentlyninneffect.nNumberednsonthatn
allneffective nstatutesnconcerningnthensamensubjectnare nbroughtntogetherninnthensame nplace nNumberingnsy
stemnisnbasednuponnanseriesnofnTitles,nChapters,nandnSectionsnGroupedninton58nTitles,
Titlesnare ndividednintonChaptersnandnChaptersnare nDividednint
onSections.
Whatnare nNJnStatutesnAnnotated?n- nCORRECTnANSWER-
Seriesnof ncommerciallynavailable,nunofficialnvolumesnof ncompilednandnannotatednlawsnpublishednbynWestn
Publishingnamongnothers.nIncludesnallnof nthe
,effective ngeneralnlawsnofnthenstate,nusuallynusingnthensamenbasicnnumberingnsystemnasnthenRevisednStatut
es.nAlsonhasncourtncases.
WhatnisnNJnAdministrative nCode?n-nCORRECTnANSWER-
AnnofficialnpublicationnofnthenState nofnNJnwhichncontainsnallnofnthe nofficialnrules,nregulationsnandnotherndo
cumentsnissuednbynStatenagenciesnandnfiledninnaccordance nwithnthenAdministrativenProcedure nActnofn196
8.nItnisnkeptnupntondate nbynperiodicnsupplements, nwhichnprovide nreplacementnpages
andnobsolete npagesntonbendiscarded.nNJnRegisternpublishedntwicenmonthlynindexesnproposednandnadopted
n rules n andn regulations.
Whatnisnthe nDivisionnof nLocalnGovernmentnServices?n-nCORRECTnANSWER-
DLGSnisnthe nmostnimportantnstate nagencynfornlocalngovernmentnfinancialnandnmanagementnfunctions.
StatensupervisionnofnlocalngovernmentnfinancenundernthenDivision.nRegularlynissuesnLocalnFinance nNotices
n concerningn then workn of n then agencyn andn then problems nofn localn government,n andn requirementsn of n lawn an
dnregulations.
Whatnisnthe nLocalnFinance nBoard?n-nCORRECTnANSWER-
AncomponentnofnthenDLGSnempoweredntonstudynthenentirenfieldnofnlocalngovernment.nSupervisesnthe nfina
ncialnaffairsnof nmunicipalitiesnwhichnfallnundernthe nFiscalnSupervisionnAct.
WhatnarenthenfunctionsnofnthenLocalnFinancenBoard?n-nCORRECTnANSWER--
Approve nthe ncreationnofnlocalnauthorities
-Reviewnthe nfinancingnofnproposednprojectsnofnsuchnauthorities
-MakesnRecommendations ninnrespectntonsuchnprojectnfinancingnfollowingnanpublicnhearing
-
Maynalsonissue nordersntonauthoritiesntoncorrectndeficitsnorntonalleviatenanynfinancialndifficulties,nincludingn
increasingnratesnorncharges,norntondissolve nannauthority
SelectednFunctionsnofnthenDLGSn-nCORRECTnANSWER-
1.nTechnicalnassistance ntonlocalnunitsnregardingnthe nLPCL
2. Approvalnof napplicationsnfornestablishmentnofnpettyncashnfundsnandnpromulgationnofnrulesnand
n regulations n therto
3. Technicalnadvice nandnassistancentonregisterednmunicipalnaccountantsnandnlocalnofficialsnregarding,
n auditing, n budgeting,n accounting, npurchasing,n andn numerous nothernareasnof n financialn management
,4. Technicalnassistance ntonmunicipalitiesninnplanningn&nimplementingnconsolidationnofnservicesnunder
n shared
servicesnlaws.
5. PublicationnofnLFNsncontainingnusefulninformationnaboutnstatutorynrequirements,nDivisionnrulesnand
n regulations, n andn statisticaln data.
6. Reviewn&nRegisterncooperativenpurchasingnsystems,napprovencompetitivencontractingnexceptionsnand
n pre-qualifications n of n bidders.
7. Cooperationnwithnthe nCenternfornGovernmentnServices
atnRutgersninnthe ndevelopmentnandnpresentationnofntrainingnprogramsnfornlocalnelectedn&nappointednoffici
als,nespeciallynrelatingntonexaminationnandnre ncertification.
8. Preparationn&nsupervisionnofnwrittennexaminationsnforncertificationsnof nmunicipalntax ncollectors,nmu
nicipalnclerks,npurchasingnagentsnandnfinancenofficers,nandnpublicnworksnmanagers;ndeterminationnofnap
plicants'neligibility,nandnawardnof ncertificationsntonqualifiers.
CapitalnImprovementsn-nCORRECTnANSWER-
Annitemnwhichnasnanusefulnlife nof natnleastn5nyearsnandnfornwhichnnotesnornbondsncannbe nsold.
Annordinance nmustnbenadoptedntonspendnfundsnfromnthencapitalnimprovementnfundnwhichnplaysnannimpor
tantnrole ninnfinancingnthe nmunicipality'sncapitalnprojects.
CapitalnProgramsnandnBudgetsn- nCORRECTnANSWER-CapitalnProgramn-nanmulti-
yearnplannandnschedule nforncapitalnprojectsnwithnanprospective nlife nofn5nyearsnornmore
andnancumulative nannualncostnof n$25K,nvaluable nmanagementntool.
ItemsnanCapitalnBudgetnIncludesn-nCORRECTnANSWER-1.nacquisitionnand/orndevelopmentnof nland
2. acquisitionnofnmajornequipmentnandnpersonalnproperty
3. acquisition, nconstruction, nimprovementnand/ornrenovationsnof nbuildings,nroads,nutilitiesnandnother
n structures
4. improvementsnof npublicnworks
5. anynothernmatterndescribedninnNJSAn40A:2-22nregardlessnofnthe nfinancingnsources
Nonlocalnunitnmaynadoptnanbondnordinance nunlessn-nCORRECTnANSWER-
1.nItnhasnalreadynadoptednancapitalnbudgetnasnpartnofnthe nannualnbudget
, 2. Ifnpriorntonfinalnadoptionnofnitsnannualnbudget,nbynadoptionnofnantemporaryncapitalnbudgetnwhich
n subsequetly n shalln be n included n inn the n annualn budget
3. Ifnanneednisndeterminednafternadoptionnofnthenannualnbudget,nbynadoptionnof nancapitalnbudgetno
rnamendmentntonthe ncapitalnbudget.
POPULATION:
Overn10,000/6nYEARnBUDGETn
Undern10,000/n3nYEARnBUDGET
Flexible nChartnofnAccountsn(FCOA) n- nCORRECTnANSWER-
Ancodingnsystemnwhichncategorizesnbudgetnappropriations
andnrevenuesnwithnanhighndegree nof nflexibility.
Everynfundnmustncontainnannidentificationnofnallnaccountsnandnsuchnaccountsnmustnbenclassifiednaccording
n ton assets,
liabilities,nreserves,nandnfundnbalance n(surplus).
EachnAccountnisnanresultnofnincomes,nexpenditure,ngoverningnbodynactionn(i.e.nbudgetnadoption,netc) nornot
hernlegalnaction.
GeneralnFixednAssetsn- nCORRECTnANSWER-
Assetsnthatnhavenusefulnlivesnextendingnbeyondnansinglenreportingnperiod.nLANDnANDnREALnPROPERTYnCO
MMODITIESnMinimumncostnofn$5K,nandnusefulnlife nofn5nyears
The nAnnualnAuditn-nCORRECTnANSWER-AnnindependentnannualnauditnisnperformednbynanRegistered
MunicipalnAccountant.nThenannualnauditnisnduenwithinn6nmonthsnofnthenendnofnthenfiscalnyearnbeingnaudit
ed
ADOPTnAnCORRECTIVEnACTIONnPLAN
PettynCashnFundn-nCORRECTnANSWER-
Smallnamountnofnpettyncashnnormallynrequirednsonthatncertainnpurchasesnmaynbenexpeditiouslynmade.n(St
amps,
keys,nsuppliesnetc.).nFundsnshouldnnotnexceedn$500.nMaximu
mndrawndownnofn$50npernindividualnpurchase.
n n n n n n n n n n n n
NS AND CORRECT ANSWERS 2023-2025//ALREADY GRADED A+
n n n n n n
State nofnNJnhasn5ntypesnornlevelsnofnlocalngovernmentnconsid
eredn"creaturesnof nthe nstate"ncreated,naltered,
andnabolishednbynonlynstate nlaw.n-nCORRECTnANSWER-1.ncounties
2. municipalities
3. schoolndistricts
4. localnauthorities
5. specialndistricts
Sourcesnof nBasicnLawn-nCORRECTnANSWER-1.nSessionnLawsn(PamphletnLaws)
2. RevisednStatuesnofnNJ
3. NJnStatutesnAnnotated
4. NJnAdministrative nCode
Whatnare nPamphletnLaws?n-nCORRECTnANSWER-
Billsnpassednduringneachnlegislative nsessionnandnsignednintonlawnbynthengovernornare nassignednanchapternn
umberninnnumericalnorder.nAtnendnofneachnyearnthesenchaptersnarenboundntogethernandnissuednasnansepar
ate nvolume.nGenerallyncalledn"sessionnlaws"nandnare nofficiallyninnknownninnNJnasn"PamphletnLaws"nEVERYn
2nYEARSnCHAPTERSnENDnOFn2nYRnPERIODnAREnBOUND
Whatnare nRevisednStatutesnofnNJ?n-nCORRECTnANSWER-
Periodnrevisionsnwhichnbringntogethernallnofnthengeneralnlegislationncurrentlyninneffect.nNumberednsonthatn
allneffective nstatutesnconcerningnthensamensubjectnare nbroughtntogetherninnthensame nplace nNumberingnsy
stemnisnbasednuponnanseriesnofnTitles,nChapters,nandnSectionsnGroupedninton58nTitles,
Titlesnare ndividednintonChaptersnandnChaptersnare nDividednint
onSections.
Whatnare nNJnStatutesnAnnotated?n- nCORRECTnANSWER-
Seriesnof ncommerciallynavailable,nunofficialnvolumesnof ncompilednandnannotatednlawsnpublishednbynWestn
Publishingnamongnothers.nIncludesnallnof nthe
,effective ngeneralnlawsnofnthenstate,nusuallynusingnthensamenbasicnnumberingnsystemnasnthenRevisednStatut
es.nAlsonhasncourtncases.
WhatnisnNJnAdministrative nCode?n-nCORRECTnANSWER-
AnnofficialnpublicationnofnthenState nofnNJnwhichncontainsnallnofnthe nofficialnrules,nregulationsnandnotherndo
cumentsnissuednbynStatenagenciesnandnfiledninnaccordance nwithnthenAdministrativenProcedure nActnofn196
8.nItnisnkeptnupntondate nbynperiodicnsupplements, nwhichnprovide nreplacementnpages
andnobsolete npagesntonbendiscarded.nNJnRegisternpublishedntwicenmonthlynindexesnproposednandnadopted
n rules n andn regulations.
Whatnisnthe nDivisionnof nLocalnGovernmentnServices?n-nCORRECTnANSWER-
DLGSnisnthe nmostnimportantnstate nagencynfornlocalngovernmentnfinancialnandnmanagementnfunctions.
StatensupervisionnofnlocalngovernmentnfinancenundernthenDivision.nRegularlynissuesnLocalnFinance nNotices
n concerningn then workn of n then agencyn andn then problems nofn localn government,n andn requirementsn of n lawn an
dnregulations.
Whatnisnthe nLocalnFinance nBoard?n-nCORRECTnANSWER-
AncomponentnofnthenDLGSnempoweredntonstudynthenentirenfieldnofnlocalngovernment.nSupervisesnthe nfina
ncialnaffairsnof nmunicipalitiesnwhichnfallnundernthe nFiscalnSupervisionnAct.
WhatnarenthenfunctionsnofnthenLocalnFinancenBoard?n-nCORRECTnANSWER--
Approve nthe ncreationnofnlocalnauthorities
-Reviewnthe nfinancingnofnproposednprojectsnofnsuchnauthorities
-MakesnRecommendations ninnrespectntonsuchnprojectnfinancingnfollowingnanpublicnhearing
-
Maynalsonissue nordersntonauthoritiesntoncorrectndeficitsnorntonalleviatenanynfinancialndifficulties,nincludingn
increasingnratesnorncharges,norntondissolve nannauthority
SelectednFunctionsnofnthenDLGSn-nCORRECTnANSWER-
1.nTechnicalnassistance ntonlocalnunitsnregardingnthe nLPCL
2. Approvalnof napplicationsnfornestablishmentnofnpettyncashnfundsnandnpromulgationnofnrulesnand
n regulations n therto
3. Technicalnadvice nandnassistancentonregisterednmunicipalnaccountantsnandnlocalnofficialsnregarding,
n auditing, n budgeting,n accounting, npurchasing,n andn numerous nothernareasnof n financialn management
,4. Technicalnassistance ntonmunicipalitiesninnplanningn&nimplementingnconsolidationnofnservicesnunder
n shared
servicesnlaws.
5. PublicationnofnLFNsncontainingnusefulninformationnaboutnstatutorynrequirements,nDivisionnrulesnand
n regulations, n andn statisticaln data.
6. Reviewn&nRegisterncooperativenpurchasingnsystems,napprovencompetitivencontractingnexceptionsnand
n pre-qualifications n of n bidders.
7. Cooperationnwithnthe nCenternfornGovernmentnServices
atnRutgersninnthe ndevelopmentnandnpresentationnofntrainingnprogramsnfornlocalnelectedn&nappointednoffici
als,nespeciallynrelatingntonexaminationnandnre ncertification.
8. Preparationn&nsupervisionnofnwrittennexaminationsnforncertificationsnof nmunicipalntax ncollectors,nmu
nicipalnclerks,npurchasingnagentsnandnfinancenofficers,nandnpublicnworksnmanagers;ndeterminationnofnap
plicants'neligibility,nandnawardnof ncertificationsntonqualifiers.
CapitalnImprovementsn-nCORRECTnANSWER-
Annitemnwhichnasnanusefulnlife nof natnleastn5nyearsnandnfornwhichnnotesnornbondsncannbe nsold.
Annordinance nmustnbenadoptedntonspendnfundsnfromnthencapitalnimprovementnfundnwhichnplaysnannimpor
tantnrole ninnfinancingnthe nmunicipality'sncapitalnprojects.
CapitalnProgramsnandnBudgetsn- nCORRECTnANSWER-CapitalnProgramn-nanmulti-
yearnplannandnschedule nforncapitalnprojectsnwithnanprospective nlife nofn5nyearsnornmore
andnancumulative nannualncostnof n$25K,nvaluable nmanagementntool.
ItemsnanCapitalnBudgetnIncludesn-nCORRECTnANSWER-1.nacquisitionnand/orndevelopmentnof nland
2. acquisitionnofnmajornequipmentnandnpersonalnproperty
3. acquisition, nconstruction, nimprovementnand/ornrenovationsnof nbuildings,nroads,nutilitiesnandnother
n structures
4. improvementsnof npublicnworks
5. anynothernmatterndescribedninnNJSAn40A:2-22nregardlessnofnthe nfinancingnsources
Nonlocalnunitnmaynadoptnanbondnordinance nunlessn-nCORRECTnANSWER-
1.nItnhasnalreadynadoptednancapitalnbudgetnasnpartnofnthe nannualnbudget
, 2. Ifnpriorntonfinalnadoptionnofnitsnannualnbudget,nbynadoptionnofnantemporaryncapitalnbudgetnwhich
n subsequetly n shalln be n included n inn the n annualn budget
3. Ifnanneednisndeterminednafternadoptionnofnthenannualnbudget,nbynadoptionnof nancapitalnbudgetno
rnamendmentntonthe ncapitalnbudget.
POPULATION:
Overn10,000/6nYEARnBUDGETn
Undern10,000/n3nYEARnBUDGET
Flexible nChartnofnAccountsn(FCOA) n- nCORRECTnANSWER-
Ancodingnsystemnwhichncategorizesnbudgetnappropriations
andnrevenuesnwithnanhighndegree nof nflexibility.
Everynfundnmustncontainnannidentificationnofnallnaccountsnandnsuchnaccountsnmustnbenclassifiednaccording
n ton assets,
liabilities,nreserves,nandnfundnbalance n(surplus).
EachnAccountnisnanresultnofnincomes,nexpenditure,ngoverningnbodynactionn(i.e.nbudgetnadoption,netc) nornot
hernlegalnaction.
GeneralnFixednAssetsn- nCORRECTnANSWER-
Assetsnthatnhavenusefulnlivesnextendingnbeyondnansinglenreportingnperiod.nLANDnANDnREALnPROPERTYnCO
MMODITIESnMinimumncostnofn$5K,nandnusefulnlife nofn5nyears
The nAnnualnAuditn-nCORRECTnANSWER-AnnindependentnannualnauditnisnperformednbynanRegistered
MunicipalnAccountant.nThenannualnauditnisnduenwithinn6nmonthsnofnthenendnofnthenfiscalnyearnbeingnaudit
ed
ADOPTnAnCORRECTIVEnACTIONnPLAN
PettynCashnFundn-nCORRECTnANSWER-
Smallnamountnofnpettyncashnnormallynrequirednsonthatncertainnpurchasesnmaynbenexpeditiouslynmade.n(St
amps,
keys,nsuppliesnetc.).nFundsnshouldnnotnexceedn$500.nMaximu
mndrawndownnofn$50npernindividualnpurchase.
