Question :1) Which of the following information is NOT provided on the Contract Funds Status Report (CFSR)?
Forecast of billings to the government
Estimated termination costs
Earned Value to date by Work Breakdown Structure element
Amount obligated on the contract
2) DoD policy requires that obligations be recorded: (select one)
At the time a commitment is recorded
When a procurement request is sent to a contracting officer
No more than 60 days after an invoice is submitted for payment
No more than 10 days after a legal obligation is incurred
3) Which of the following should be considered in the preparation of an obligation plan?
All of these are correct
Likely delays in the appropriation and apportionment of funds
OSD and Service "benchmarks"
Ability of the contracting office to process and award contracts
4) A current appropriation may be used to: (select all that apply) (THREE correct answers)
Pay bills related to a cancelled appropriation of the same type, up to 2% of the current appropriation amount or the unliquidated balance of the cancelled appropriation, whichever is less
Make new obligations
Adjust obligations previously made against it
Make payments to liquidate obligations made against it
5) Over the past three years, the POSSUM program has averaged expenditures of 35% of its RDT&E funds by the end of the first year of execution. The POSSUM program may:
All of these are correct
Have its budget requests for future years adjusted by Component or OSD budget analysts during the PPBE process
Have some or all of its available funds reprogrammed in the year of execution to meet other needs
Be requesting budget authority in advance of its true need
6) A contract for a special piece of research and development equipment costing $200,000 was awarded using funds from an Operations and Maintenance appropriation. This action did not cause any formal subdivision of the Operations and Maintenance appropriation to be exceeded. This action most likely: (select one)
Did not violate any fiscal laws
Violated the Bona Fide Need Rule
Violated the Misappropriation Act
Violated the Antideficiency Act