Supply Chain Management Officer Course (SCMOC) Fiscal Part 1 Practice Test

These questions are part of the practice quiz. Start practicing

• Which procurement tool is used for commercial fuel purchases processed as MILSTRIP transactions?
• What are the two most critical pieces of the Mid-Year Review?
• What are cost accounting standards and why do they matter for contracts?
• Which is NOT a category of maintained source document files?
• Two recommended steps to avoid Unauthorized Commitments are
• What best describes the purpose of the DoD fiscal management lifecycle steps?
• Which of the following best describes how a funding variance is resolved?
• How many digits are in the JON/Cost JON code?
• In budget classification, which statement correctly describes personnel costs versus materials?
• What are the key indicators of a healthy SCMOC fiscal posture?
• What is the final step in the SABRS transaction cycle?
• What is the definition of accountability?
• Which platform is the federal web-based procurement platform authorized for procurement of supplies and also provides FEDLOG information?
• Which description best defines a clean audit trail?
• ServMart is described as which of the following?
• What is the purpose of fund reprogramming in DoD operations?
• SMARTS stands for which of the following?
• Why is fund availability critical before obligating?
• Which statement describes reprogramming in budget execution?
• How often is fiscal training required?
• How do Work Breakdown Structure or program elements relate to fiscal coding?
• What is expenditure vs accrual reconciliation?
• In the Procurement Cycle, what occurs at the Commitment/Obligation step?
• Which term represents a reimbursable interagency work order?
• What does the measure of performance/effectiveness in the Mid-Year Review quantify?
• Abnormal Accounts Payable value indicates which condition?
• GCSS-MC serves as which of the following in Marine Corps procurement?
• In the financial chain of command, which is the fifth level?
• A characteristic requirement for non-severable contracts is that they must be funded
• What is the main feature of the Job Order Number (JON)/Cost JON?
• What question does the Bona Fide Needs rule ask?
• Which statement best describes the processing order for commitments, obligations, and expenses?
• Which type of appropriation funds day-to-day operations?
• What is the purpose of SF 133 or equivalent in DoD?
• Why are disbursement timelines important in DoD fiscal operations?
• In asset management, what is the difference between capitalization and expense?
• What is deobligation and when would you use it?
• The Supply AIS Administrator maintains control of access to financial systems and handles access requests. Which role is this?
• What is the purpose of independent reconciliations in fund management?
• Which procedure allows procurement of supplies and services outside the DON from DOD components?
• What is accounts payable in DoD procurement?
• An operating budget/sub-operating budget is described as:
• Abnormal Accounts Payable are characterized by which relationship?
• Which activity is part of fiscal closeout?
• KPI reports are retrieved from which system?
• Distinguish mandatory and discretionary funding with an example.
• The Combatant Commanders Initiative Fund is intended to provide funding for
• What do financial codes reflect?
• The Acquisition and Cross-Servicing Agreement (ACSA) is best described as
• SABRS stands for which of the following?
• Green dollars refer to which type of money?
• Which statement best characterizes a non-severable contract?
• Which item is funded by Operations and Maintenance Marine Corps 1106?
• Official Representation Funds are best described as
• SF 133 (or equivalent) is used to report what aspect of budget execution?
• Which best describes the Mid-Year Review?
• In budget execution, undelivered orders indicate goods or services that are:
• GSA Advantage and Global Supply is the platform for what?
• What is an allotment and how does it relate to apportionment?
• True or False: Misc Payment should be used if another payment method is available.
• Negative Unliquidated Orders (NULO's) occur when which condition holds?
• Which appropriation provides funds for the pay and allowances of active duty Marines?
• Which issue do Key Performance Indicator (KPI) Reports identify in SABRS?
• How do you correct a misclassification of an expense in the ledger?
• In both SABRS and the Procurement Cycle, which action corresponds to the Expense step?
• Procurement of Ammunition, Navy and Marine Corps 1508 funds ammunition for training and operations. Which agency administers this appropriation?
• In budget formulation, what is step two?
• Purple dollars are best described as:
• Which item is included in the initial draft of the budget packet?
• Which procurement tool is used for on-base fuel purchases processed through SABRS utilizing EEBP?
• Which documents are reconciled by the Supply Resource Manager?
• Which method is used to procure supplies and services from DOD components outside of the Department of the Navy?
• In the Procurement Cycle, which step involves the supply validating the request?
• What is the standard fiscal year period?
• Which appropriation funds Marine Corps Reserve units?
• Procurement, Marine Corps 1109 funds which of the following?
• In fixed-price contracts, who bears more risk and why?
• Which web-based procurement platform is used to procure supplies and can provide uniform items as well as Class I items from DLA?
• Which platform is used to obtain uniform items and other items from DLA?
• Documents are filed in doc # sequence. True or false?
• The condition 'non-contractual procurement actions' refers to procurement actions that are not governed by existing contracts. True or False?
• Which flow-of-funds question correctly identifies the top level in the flow of funds?
• What influence does program objective memorandum (POM) have on the DoD budget?
• Which items are included in the Error Report?
• What is the difference between an obligation and a disbursement?
• Object class codes are used to categorize expenditures into what kinds?
• A bona fide need is defined as which of the following?
• Which statement correctly differentiates general funds from special funds?
• In budgeting for procurement, what is the correct flow of funds from appropriation to final payment?
• How does DoD ensure ethical conduct in fiscal operations?
• In what scenario would an invoice be charged under Misc Payment?
• What is an allotment?
• What is apportionment and who issues it?
• What is the role of accountable funds management in SCMOC?
• Budget formulation is typically conducted
• How are audit trails maintained in SCMOC fiscal processes?
• The NAVMC 11869 DOA is mentioned as part of the financial process. Which statement is accurate?
• Wildlife Conservation of Military Reservations funds are derived from which source?
• Non-Appropriated Funds are funds which:
• What is the significance of economic order quantity in procurement planning?
• Which term best describes the official accounting system used by the USMC?
• TAD is used for which purpose in this context?
• What does unfunded deficiency refer to in budget formulation?
• What does the Expense step signify in SABRS?
• Which term best describes the payment category used for certain invoices in absence of other options?
• Which internal control practices help prevent misclassification of funds?
• The Defense Finance and Accounting Service (DFAS) is the official accounting firm of which department?
• What is the purpose of financial management?
• Who often delegates the administration of fund responsibilities within the command?
• Which inventory valuation method involves standard costs with periodic adjustments?
• Which role provides financial guidance to the commander and ensures proper use of appropriations by purpose, time, and amount?
• What is the primary purpose of audit trails in SCMOC fiscal processes?
• Which item in the initial draft budget packet outlines when funds will be obligated?
• Which criterion is part of the necessary expense test?
• Object class codes in government accounting serve what purpose?
• In budget management, which describes the obligation?
• How do you handle expiring funds?
• Which of the following best describes the limitation for using Misc Payment?
• Which of the following is NOT a stated purpose of the Tri-Annual Review?
• In government accounting, what does liquidation mean in the context of an obligating action?
• Who prioritizes and justifies requirements in budget formulation?
• MILCON is defined as:
• What term describes the difference between budgeted and actual funds?
• What does 'executed obligations' refer to?
• In the SABRS transaction cycle, which step follows Commitment?
• What are the five major steps of the DoD fiscal management lifecycle?
• Which statement differentiates cash receipts and cash disbursements?
• Which item is a KSD category?
• Which statement best describes a severable contract?
• Which statement best describes inventory valuation and the common DoD method?
• What does the Daily Transaction Report (DTR) reflect?
• Which duties are performed by the Fiscal/Budget and Accounting Officer?
• Who issues apportionments, in coordination with whom?
• Which funding type is annual and subject to yearly appropriation?
• What is the role of internal controls in fiscal operations?
• In the context, Misc Payment is an option for invoices that result from non-contractual procurement actions. True or False?
• Which statement correctly identifies who issues the operating budget?
• Which option best captures the nature of Misc Payment in context?
• What is a standard cost and how is it used in budgeting?
• If an invoice is from a contractual procurement action, would Misc Payment be the correct method?
• What does the impact statement in the Mid-Year Review identify?
• How is price reasonableness determined in DoD contracting?
• Posted files consist of three sub-files. Which is one of them?
• Which statement is true about cash flow within DoD fiscal operations?
• A budget is defined as which of the following?
• Which two items are required to hold any fiscal roles or responsibilities?
• The Supply Resource Manager executes the budget in accordance with the financial plan, maintains fiscal records and source documents, reconciles NULO's, UMD's, ULO's, and OTO's, and records account transactions in SABRS. Which choice best describes this role?
• Which of the following best describes the flow of funds?
• Which actions may resolve a funding variance?
• Unmatched Disbursements (UMD's) occur when?
• Which item is the unit-level government version of a credit card used for micro-purchases?
• What is the role of DFAS in DoD funding and payment?
• Which statement best describes when Misc Payment is appropriate?
• What is the Tri-Annual Review (DARQ) primarily used for?
• Which appropriation provides resources to assure accomplishment of the Marine Corps Reserve mission to augment and reinforce the active component?
• Which description best defines an accountable officer?
• If an asset cost is capitalized, how is it recorded on financial statements?
• Source document files serve what primary purposes in SABRS?
• How does an 'obligation by contract' appear in the ledger?
• Which statement correctly describes non-severable contracts?
• GSA Advantage and Global Supply is which type of purchasing channel?
• Which of the following is a major fiscal limitation?
• The phrase 'where no other method of payment is available or authorized' implies what about authorization?
• Unauthorized Commitments (UAC) are defined as
• Blue dollars cover which programs?
• Which statement describes the key limitation of Misc Payment?
• What is a Status of Forces Agreement (SOFA)?
• Which tool generates purchase requests and transmits associated funding data into SABRS, serving as the system to submit and approve purchase requests and determine sourcing?
• Which statement best describes an Unliquidated Obligation (ULO)?
• Special funds in government accounting are characterized by which of the following?
• If a UAC occurs, what should be done first?
• Pending files include source documents that have not yet been entered into the accounting system. True or false?
• Which function is attributed to financial codes?
• Which dates correspond to TAR periods?
• Which step directly follows apportionment in the DoD fiscal lifecycle?
• Status of funds is a report that can be retrieved from SABRS and SMARTS and shows:
• Which of the following is a principle of fiscal law?
• Acquisition and Cross-Servicing Agreement (ACSA) provides what?
• For non-severable contracts, charges are typically applied to
• Which type of procurement action yields invoices eligible for Misc Payment?
• An appropriation is:
• Documentation standards for fiscal transactions?
• Which activity occurs in the 2nd quarter of the fiscal year significant events?
• Which statement correctly contrasts obligation and disbursement?
• The phrase 'invoices resulting from non-contractual procurement actions' means the invoices arise from what kind of actions?
• SMARTS stands for the full phrase:
• Why is contract closeout important for fiscal accountability?
• Which agency administers the Ammunition Procurement 1508 appropriation?
• Official Representation Funds are intended to support
• Which statement about Internal Budget Execution Reports (IBER) is correct?
• What is the role of the DoD Financial Management System in the procurement cycle?
• What does fund symbols identify in DoD accounting?
• What is closeout in fiscal sense?
• In budget classification, which item would be categorized as personnel costs?
• The Navy Working Capital Fund Supply Management function is to:
• In SABRS, what describes the Obligation step?
• Who is responsible for the administration of all authorizations of funds formally granted through a budget, with the ability to delegate?
• The phrase 'no other method of payment is available or authorized' implies what about the payment process?
• Who is described as a special staff officer to the MSC CG, providing guidance on financial matters and maintaining budget plans and program schedules?
• Which statement about the Antideficiency Act is true?
• Which statement about revisions of allotments is accurate?
• How is risk managed in SCMOC fiscal operations?
• Which statement about the Mid-Year Review is NOT accurate?
• Internal Budget Execution Reports (IBER) serve what purpose?
• What are the three main categories of source document files?
• What is the purpose of Misc Payment in the given context?
• How do fund symbols function in DoD accounting?
• Which organization provides templates of submission documents for budget calls?
• Which item is included as material provided to the CO during budget formulation?
• How are indirect costs allocated to DoD programs?
• Which instrument is intended for micro-purchases at the unit level?
• Which statement correctly differentiates a commitment and an obligation?
• The Certifying Officer attests to the correctness of statements, facts, accounts, and amounts and certifies and forwards payment vouchers to disbursing. Which is the correct description?
• A BEA/BESA report shows the status of funds for BEA/BESA including which information?
• SABRS stands for the full phrase:
• Which of the following is a function of the JON/Cost JON?
• Outstanding Travel Orders (OTO) are defined as travel orders that are what?
• Explain the Antideficiency Act and its practical impact on SCMOC operations.
• Which term refers to agreements between the U.S. Marine Corps and civilian businesses?
• From a financial perspective, what is the key difference between fixed-price and cost-reimbursement contracts?
• Where are account transactions recorded by the Supply Resource Manager?
• Wildlife conservation programs are established in accordance with instructions issued by which authority?
• Procurement of major items such as tanks and missiles is funded by which Marine Corps appropriation?