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FINANCE Flashcards

(46 cards)

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0
Q

What is the FRMM?

A

Its the Financial Resource Management Manual

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1
Q

What is the SAP Manual?

A

Its the Simplified Acquisition Procedures Manual

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2
Q

What is continuing resolution?

A

Continuing resolution is stopgap legislation enacted to continue operations whenever congress and the president have not completed action on appropriations by the beginning of the fiscal year.

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3
Q

What is operating with no appropriations?

A

Occasionally a fiscal year will begin with neither a regular appropriation nor a continuing resolution in place. In this situation the CG is authorized to spend funds to provide for national security, to protect life and property and to carry out orderly suspension of nonessential operations.

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4
Q

AFC 30?

A

General operating expenses including ordnance

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5
Q

AFC 42?

A

Electronic system logistics support program

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6
Q

AFC 43?

A

Civil engineering

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7
Q

AFC 45?

A

Naval engineering logistics support program

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8
Q

AFC 56?

A

Training

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9
Q

AFC 77?

A

Reimbursable execution accounts

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10
Q

What is the Anti-Deficiency Act?

A

Personnel are authorized to administer and control funds are responsible for seeing that funds expended or obligated do not exceed the amount allotted to them. It applies to expired and closed as well as current appropriations

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11
Q

Where is the reference for authorized Chain of Command expenses?

A

FRMM

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12
Q

Where is the reference for authorization Retirement Recognition?

A

FRMM

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13
Q

What is the units quarterly spend down rates?

A

1st quarter - 75%
2nd quarter - 50%
3rd quarter - 25%
4th quarter - 99.75%

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14
Q

What is the form number that all operational clothing needs to be documented on?

A

AF 538

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15
Q

Can you go to KINKO’S for you printing and reproduction needs?

A

No the GPO is the only authorized source of supply for any and all printing services. GPO is NON RATIFIABLE

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16
Q

What will happen if a unit is found to have split a purchase?

A

Ratification, member may have to pay out of pocket for items

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17
Q

What does the term splitting purchases mean?

A

.

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18
Q

When is splitting purchases authorized?

19
Q

What are the mandatory sources of supply?

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A
  • agency inventories
  • excess from other agencies
  • federal prison industries (unicor)
  • products available from the committee for purchase from people who are blind or severely disabled
  • gsa, dla, dept of va
  • mandatory federal supply schedules
  • opitional use federal supply schedules
  • commercial sources
20
Q

After initial DHS purchase card training, when is refresher training required?

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A

After initial, refresher is every 2 years

21
Q

Who is the only one authorized a vehicle rental?

22
Q

How many days does a credit card holder have to file a dispute with the credit card company?

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A

60 days from statement date

23
Q

What constitutes “market research”?

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A

3 bids/vendors

24
When does a property item require a survey?
It the item is lost, damaged or stolen
25
What computer program/applet manages property?
Oracle
26
How often is property inventoried?
Annual or upon relief of the CO or OIC
27
What program reconciles unit funds?
FPD
28
How often should a unit reconcile?
Weekly
29
How should the unit credit cards be secured?
locked drawer for all cards under the micro purchase limit. GSA approved safe for all contracting officer / 25k cards
30
What is capitalized property?
Capitalized personal property has an acquisition value of 25k and greater if acquired prior to 30 sep 2003 or 50k if acquired 1 oct 2003 or later
31
Who has the final approving authority for cutters, barges or boats?
Commandant CG-844. In addition to the normal survey procedures, board of survey for boats must include additional information on maintenance and man hours of operation
32
Who may be appointed as a survey board member?
commissioned officers/cwo's must be appointed as board survey members, when not available, if the convening authority deems appropriate, E-6 and above or civilian employees in grades GS7 or WG8 and above may be appointed. The APO, Survey Officer and Property Custodian may not be a board member
33
What program is used to process PR's and reconcile unit funds?
FPD
34
How often are PES (program element status reports) in FPD reconciled?
Weekly
35
What is a KO or Contracting Officer?
The person with written authority to enter into, administer, and/or terminate contracts, as well as to make related determinations and findings on behalf of the government
36
Are 3 quotes required for all open market purchases above 3k?
Yes
37
What is the micro purchase limit for services?
2.5k
38
What is the micro purchase limit for construction?
2k as per the requirements of the Davis Bacon Act
39
What are open market purchases under 3k called?
Micro purchases
40
Can we utilize the CG Exchange or any DOD Exchange as a source of supply to purchase items under the micro purchase limit?
Yes as per the FRMM
41
Can you purchase a retirement gift for an individual retiring from you unit?
Yes if less than 335.00, its to recognize their contribution to the service and the country. Items must be non-monetary and convey pride and honor to the recipient
42
Who shall be an AO?
Official designated in writing, one supervisory level by rank or command structure above the cardholder
43
How long does the AO have to verify all purchases?
The AO shall complete certification of the PCA's within 14 days of the statement date (26th of the month)
44
Whats a SMA?
Service maintenance agreement
45
Can bottled water be purchased using appropriated funds?
No it cant unless an environmental health officer determines that the water is unfit due to non compliance with the recommended maximum contaminant levels from the EPA. Bottled water may be purchased only on the grounds which include, no potable water within 200 ft, water is contaminated and there is an urgent need for water that could otherwise not be met
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