Question 1
What is the primary purpose of the Federal Accounting Standards Advisory Board (FASAB)?
Correct Answer:
To establish and improve federal financial accounting standards
Question 2
Which report provides a comprehensive overview of an agency's financial position, including assets, liabilities and net position?
Correct Answer:
Balance Sheet
Question 3
What is the primary objective of internal controls in federal financial management?
Correct Answer:
To prevent fraud, waste and abuse
Question 4
Which of the following is considered a corrective internal control?
Correct Answer:
Regular reconciliation of accounts
Question 5
What is the purpose of the Anti-Deficiency Act?
Correct Answer:
To ensure federal agencies do not spend more than their appropriations
Question 1
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About this Exam

Prepare with the CDFM (Certified Defense Financial Manager) Exam practice quiz. This question bank includes 80 questions covering primary, defense, program, fiscal, and cost. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CDFM (Certified Defense Financial Manager) Exam

This practice set contains 80 questions from the matching question bank and focuses on primary, defense, program, fiscal, and cost. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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