BCF 110 exam M5 questions and answers

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1) Which one of the following best describes the purpose of the P-40 budget exhibit? [Identify the purpose, content, and conditions requiring submission of the P-40 and P-40a budget exhibit.] Provi ... de narrative justifcation and total procurement costs for each P-1 line item Summarize the funding requirements for a particular Procurement appropriation account Provide budget justifcation for a particular Procurement-funded weapon system modifcation program Provide detailed cost analysis for each P-1 line item (excluding Advance Procurement, modifcation programs, and aggregated line items) 2) What funding policy applies to RDT&E appropriations? [Identify the funding policy (annual, incremental, or full) that applies to each of the five major appropriation categories of interest to the defense acquisition community (RDT&E, Procurement, O&M, MILCON, and MILPERS).] Incremental Funding Annual Funding Defcit Funding Full Funding 3) True or False. The Financial Management Regulation, 7000.14-R, directs statutory and regulatory fnancial management requirements, systems, and functions for all appropriated and non-appropriated, working capital, revolving, and trust fund activities. [Recognize the purpose of the Financial Management Regulation, 7000.14-R] [Remediation Accessed :N] Fals e True4) Which of the following are one of the primary inputs of the Budgeting Phase? [Identify the primary inputs of the Budgeting phase.] Budget Review USD(C) Leads Program Ofce Estimate (POE) Chairman`s Program Recommendations (CPR) Will Cost 5) Which of the following products of the Budgeting Phase includes a thorough review of the budget submissions and the assimilation of the answers provided to the advance questions and those coming from the budget hearings? [Recognize the activities involved in the Budgeting phase (e.g. budget submission, OSD reviews).] Resource Management Decisions (RMD) Budget Review w/OSD-C and OMB Component Budget Estimate Submissions (BES) Major Budget Issues (MBI) 6) When are the Budget Reviews carried out in the Budgeting Phase of PPBE cycle? [Recognize the PPBE Budgeting timeline.] [Remediation Accessed :N] AugustDecember July/Augus t Spring of each calendar year February 7) All of the following are considered a principle player of the Budgeting phase EXCEPT: [Identify the principle players of the Budgeting phase.] Under Secretary of Defense (Policy) Deputy Secretary of Defense Component Staffs Service/Component PPBE Action Ofcers (PEM, RO, DASC) 8) In late December, the Components revise their fnal budgets and begin preparing supporting documentation to incorporate the effects of all Resource Management Decisions (RMDs) for inclusion in the President's Budget. [Recognize how RMDs shape the President's Budget (PB).] True Fals e 9) Perform a conversion to compare costs between the two programs below, to fnd out which is the more expensive program. (Use the Windows Calculator under Accessories to help select the correct answer.) Program A estimated cost in constant FY13 dollars: $15M Program B estimated cost in constant FY15 dollars: $15M FY 2013 Raw Index (Base Year 2013): 1.0000 FY 2015 Raw Index (Base Year 2013): 1.0302 Which program is more expensive? Fiscal Year Raw Index (FY13 Base year) 2012 0.9833 2013 1.0000 2014 1.0130 2015 1.03022016 1.0488 2017 1.0687 2018 1.0890 2019 1.1097 [Relate constant (base year) dollars and then year (current year) dollars to each other and to the preparation of program cost and budget estimates.] [Remediation Accessed :N] Program A Program [Show More]

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