Afman 65 601

1. Which measure of dispersion is defined as the highest value minus the lowest value and is the easiest to calculate? Range. 2. As an aid to rational choice among competing alternatives, an Economic Analysis has how many steps? Seven. 3. What type of risk arises from imperfect knowledge about the state of the world? Requirements. 4. Funding variances occur when reprogramming actions take place, what are the two types of funding variances? Slippage and acceleration. 5. Reprogramming action take place to allow flexibility in managing distributions, when these actions are between responsibility centers who has approval authority? Financial management Board FMB. 6. The key to successfully accomplishing your role as a financial analyst is your? Professional reputation and in-depth knowledge of your wing's mission and structure. 7. While standard organizational structures are defined in AFI 38-101, Air force organization who determines the organizational structure of your base? MAJCOM. 8. Which group within a wing is responsible for the housing, feeding, security, communications, and recreational activities of the base? Mission support. 9. The rules and procedures for using funds appropriated to the Air Force can be found in AFI 65-601, budget guidance and procedures volume? One. 10. Which air force instruction contains current symbols and budget codes and their descriptions? AFMAN 65-604. 11. Which publication establishes federal policy regarding the competition of commercial activities? OMB A-76. 12. Which cycle of the department of Defense DOD biennial planning, programming, budgeting, and execution PPBE system coordinates all activities that must occur to achieve stated goals and helps develop an effective military force? Programming. 13.Program elements are the smallest program cost collection unit used by the office of secretary of defense, how are program elements distributed to MAJCOMS and bases? With proper responsibility assigned at each level. 14. Department of Defense DOD functional categories are classifications of expense that are directly subordinate to? Program elements 15. In which stage of the DOD accounting structure budget cycle are estimates developed? Formulation 16. The chief of staff of the air force approves or adjusts estimates and submits them to what agency or office that will make the last official action to either approve or adjust the department of the air force budget estimate.? Secretary of the air force 17. Which federal department r agency prepares the appropriation warrant? Department of the treasury. 18. By law each government agency must submit a request for apportionment funds in quarterly amounts, this means that the air force must submit initial apportionment requests through the? DOD to OMB. 19. Of the two types of documents issued to the MAJCOMS, which one makes funds available for obligation from an allocation or sub allocation. Allotment. 20. Identify the document that contains annual and quarterly funding authority within the operations and maintenance appropriation? Operating budget authority. 21. Which appropriation, by period of availability, has the greatest impact on base management? One-year. 22. What are the two statuses of availability categories for appropriation accounts? Current and expired. 23. Identify which of the basic principles of financial planning is least understood because of the way if affects the base-level manager? Separate capital costs from operating costs. 24. Funds made available to the air force cannot be established in reserve accounts to use later, therefore funds are programmed? In their entirety. 25. The basic purpose of the O&M execution plan is to ensure apportionment of the? President's budget. 26. The directive to price an approved program in a specific format is called? Command call. 27. In what month does the SAF issue the USAF call to the MAJCOM's? January 28. What process does the air force use to sharpen financial planning? Bogey concept. 29. How many parts are included in the Bogey? Two. 30. Personnel in the financial analysis office? Guide managers and resource advisers in preparing budget requirements. 31. A balanced equitable program consists of a balance between? Mission and support requirements. 32. The O&M execution plan will have narratives written at what level? SAG. 33. Before submission of the financial requirements for the operations and maintenance appropriation of operating budget, the operating budget must include verification? That bogeys have not been exceeded. 34. How many sections must be included in the O&M execution plan? Four. 35. Who reviews the financial plan to make sure that estimated costs and justifications are factual and complete? FMB. 36. You can submit the budget to your MAJCOM after whose approval? FMB. 37. What are the reporting systems used to analyze spending data? DEAMS. 38. Which program within the research, development, test, and evaluation appropriation includes work performed under contract with other government agencies, private industry, and educational institutions? Mission. 39. At which level does the air force manage research, development, test, and evaluation funds for the current and immediate preceding fiscal year? PE. 40. Appropriation 3080 funds are available for obligating investment equipment in what cost range and for how long? $250,000 or more; 3 years. 41. What are the two appropriations for management of military family housing? 7040 and 7045. 42. What budget program is set up to cover operations and maintenance costs of the military family housing program? 720. 43. Which expense is not reimbursable for military family housing? Charges for initial utility connection of privately owned mobile homes. 44. What is the very heart of the financial management process that allows you to estimate, justify, and manage base fund requirement? Approved programs. 45. Although historical data is very important as a starting point in forecasting requirements, you must also know how to compute financial requirements, what is the basic formula for computing financial requirements? Units of program times unit cost. 46. Analysis of historical data does not involve the full act of analyzing? Requirements. 47. When tracking money owed to the air force, which item would you identify as a collection resulting from the sale of goods or services to other agencies? A reimbursement. 48. When tracking money owed to the government, which item would you identify as a recovery of excess payments accredited to an appropriation? A refund. 49. which budget authority is based upon the estimated annual dollar value of reimbursable program requirements for each appropriation? Reimbursements. 50. Who tracks reimbursements for all its bases and notifies the SAF/FMB if their requirements exceed their authority? MAJCOM. 51. In which civilian pay object sub class does the responsibility center manager have the most control? Object sub class 115.Z100 - Overtime. 52. A work year is equal to? One employee being in pay status for the number of payable hours in a fiscal year. 53. Travel requirements are broken down by categories to portray travel criteria so that? Logical decisions can be made in developing priorities. 54. Which object sub class identifies tuition assistance? 252.120D 55. Who is responsible for computing funding requirements for tuition assistance? Education office. 56. Which of the following is not a category to analyze when computing the flying hour program? Fuel consumption. 57. Who uses a fund requests to reserve funds? FMA. 58. The focal point for developing transportation requirements is the? Transportation officer. 59. The object sub class for civil engineering contract services, such as removal and fire protection, are classified as? Object sub class 254.22Z0 - other civil engineering services. 60. The respective units of measure for custodial services and refuse collection are? Square feet and cubic yards. 61. Which office has the primary responsibility to develop fund requirements for storage of household goods? Civil engineering. 62. Items such as periodicals, subscriptions, and training aids are classified as? Off-line Supplies. 63. Legal is one of the 3 types of restraints imposed on the operating budget authority document, what are the other two? Line-item and administrative. 64. On an operating budget authority document, which reflects the use of targets? Budgetary tool. 65. What procedure must be accomplished after receiving the operating budget authority document from MAJCOM? Review of the OBAD submission, limitations, and targets to determine the percentage of the mission that can be accomplished. 66. When interpreting the operating budget authority document at base level, which step is to review the location verifying that the OBAD is for your base? Second. 67. What is the first consideration to determine the level at which you load fund targets? Do you consume resources at a level that's significant and measurable? 68. Fund apportionment has a direct effect at base level by making managers program their funds? Quarterly. 69. When interpreting quarterly phasing, what column do you review? Quarter. 70. Mission-essential programs that are not funded fully are called? Disconnects. 71. What is entered by the financial analysis office into the standard base supply system to get into the organizational cost center record adjustment screen? 236. 72. Which type of manager plans and directs the actions of an organization or program for an all-inclusive budget? Line. 73. Which type of manager is a supplier of commodities or services? Staff. 74. Which financial manager, appointed by a responsibility center manager, monitors and helps prepare estimated requirements for resources? Resource adviser. 75. Which type of responsibility ensures management decisions are compatible with the overall objectives of the installation? Collateral. 76. Which type of responsibility are you carrying out if you, as a financial analyst, act as a liaison between resource advisers and offices within the comptroller section? Concurrent. 77. Which type of managers are members of the financial management board? Top level. 78. Which type of financial training is completed not later than 90 days after assignment? Initial basic. 79. In which type of resource management system training is reimbursement procedures covered? Specialized. 80. Who is responsible for the continuation and up-to-date training of resource advisers? FMA Office. 81. The key to resource management system training is? Documentation. 82. What is the maximum dollar value of a gift that may be accepted from an outside source? $19.99. 83. Which obligation authority restriction is the most important with respect to spending? Purpose. 84. Which government agency fashioned the Necessary Expense Rule, authorizing expenditures to accomplish the object of an appropriation? GAO 85. If you have fund availability and only purchase items that you have an actual current requirement for, what are you fulfilling? A bona fide need. 86. What is an authorized exception to the Anti deficiency act? Feed forge act. 87. If authorized by law, who may obligate funds in excess of the appropriation? Contracting officer. 88. You do not have to follow a lease-versus-buy analysis if one or more assets together have a toal fair market value of less than? One million dollars. 89. Which is not an example of a capital asset? Training. 90. Which step of activity based management assigns resource costs to activities? Step 2 91. What does activity-based costing use to assign costs of resources to activities? Cost drivers. 92. What formula is used to determine unit cost? Total cost divided by the total output. 93. The law of demand states that the quantity demanded is? Inversely proportional to price. 94. The law of supply states that the quantity supplied is? directly proportional to price. 95. What is the equilibrium price? Balanced price established by the buyers. 96. Which step of a business case analysis provides background information? Step 2 97. In which step of a business case analysis would assumptions be made? Step 4 98. Which is not one of the four principles of operational risk management? Accept all risks to meet mission requirements. 99. Which of the ORM steps states to notify the next level in the chain of command for assistance when controls cannot be implemented directly by the decision maker? Step 4.

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