PFMC Knowledge Check 3 Practice Test

These questions are part of the practice quiz. Start practicing

• What does DOWNTIME stand for in Lean waste categories?
• Into how many categories are NAFs divided?
• In stock assessment, what does a confidence interval convey?
• What is the role of the Scientific and Statistical Committee (SSC) in PFMC?
• Which GAO standard would you use to identify risks to achieving agency objectives?
• Which document is the starting point for the annual audit? (Alternate wording)
• How does PFMC handle new or emerging fisheries?
• Which GAO standard involves assessing the quality of performance over time and ensuring audit findings are resolved promptly?
• What are the four financial statement audit phases the Air Force supports?
• Which UTC code identifies the Cashier role?
• What does 'science integration' mean in PFMC decisions?
• Which statement best describes the Adverse Opinion?
• What does catch history inform in the management process?
• Which set comprises the five LEAN principles?
• What does Category A NAFs represent?
• EFH and EFH consultations refer to what in PFMC processes?
• Which statement best describes a Modified Opinion?
• DAR-Q coordination involves the Defense Finance and Accounting Service. What is the full acronym DFAS?
• What are Deposit Funds?
• In the 5S method, what does Straighten aim to achieve?
• By what date was the FIAR plan aiming for audit readiness under the 2010 NDAA?
• What does state/federal cooperation mean in PFMC fisheries?
• In the 5S method, what does Shine aim to achieve?
• EFH consultations address what main concern in PFMC planning?
• What are Trust Funds?
• During Testing phase, what does the auditor perform?
• Which act mandated the development of the FIAR Plan?
• SFIS enables standardized financial reporting across the DoD and supports which activities?
• Which UTC code corresponds to a Budget Officer (1st Lt/Capt)?
• How are discards treated in harvest accounting under PFMC measures?
• Which GAO standard focuses on identifying and analyzing risks to achieving the agency's mission and objectives?
• Which statement about the Green Book is true?
• The Control Environment is described as the foundation for all other standards and reflects what?
• What is a Fisheries Management Plan (FMP)?
• What is the purpose of inseason adjustments in PFMC fisheries?
• Two acronyms that can be used interchangeably for types of waste are
• Which of the following is NOT one of the five GAO internal control standards?
• What did the 2018 National Defense Authorization Act do?
• Which category of evidence is based on research or polls?
• During Reporting phase, what does the auditor do?
• Which role corresponds to XFFA9?
• Which legislation is discussed in the internal controls lesson, and what did it require?
• In what year was the Air Force Audit Agency created?
• Which statement defines a Control Deficiency?
• Which of the following is NOT a geographic combatant command?
• Which of the following is an example of Category A NAF?
• Which phase results in the audit report and opinion being prepared?
• Which UTC corresponds to Budget Technician?
• Which document formally authorizes PFMC measures for NMFS implementation?
• NOT an example of Category A NAF?
• In PFMC catch limits, what is a notch or exemption?
• Which management activity is most closely associated with responding to stock status and performance data?
• What is the definition of a material weakness in internal controls?
• What is QAM?
• When was the Air Force Audit Agency created?
• The new deployment stages include Build High-End Readiness, Deploy/Response Force, and which other stage?
• Which category of evidence is indirect and inferred from other facts?
• Which deficiency type is the most severe among the GAO's three deficiency types?
• Which NAF category receives 50-65% appropriated fund support?
• The 2018 NDAA change is to replace the FIAR Plan with which plan?
• Which UTC corresponds to Financial Management NCO/SNCO?
• What is the purpose of Days-at-Sea (DAS) in PFMC management?
• How many types of audit opinions are listed?
• Which statement correctly pairs the opinion with its description?
• What does a Unit Type Code (UTC) describe?
• Which statement best describes the four categories of evidence?
• In the 5S method, what does Sustain refer to as the fifth element?
• Which AFFORGEN phase comes after Prepare?
• What is a Vessel Monitoring System (VMS) and how does it support PFMC management?
• What did the 1994 GMRA amend?
• Which organization is responsible for setting standards for an effective internal control system for federal agencies?
• What is the first AFFORGEN phase?
• In PFMC management, what is bycatch and which measure is commonly used to limit it?
• Which statement correctly describes de minimis allowances in PFMC bycatch management?
• Which condition leads to an Adverse Opinion?
• Which statement about OFL is true?
• What are Special Funds?
• What is data validation in stock assessment?
• What is an Overfishing Limit (OFL)?
• What is the ongoing goal of LEAN?
• Which factor most often necessitates precautionary adjustments in PFMC management?
• Which statement best describes the overall goal of the 5S methodology?
• In the old deployment model, which stage comes after Deployment?
• In PFMC planning, which activity uses scenarios to project future stock status?
• Which GAO standard encompasses the policies and procedures to ensure management's directives are carried out?
• What did the 1996 FFMIA require?
• In EFH and EBFM context, what does cumulative impacts refer to?
• Which list correctly identifies the five elements of the 5S methodology?
• How is bycatch mortality accounted in quotas?
• What does ABC stand for and how is it used in setting the ACL?
• In data-limited stock management, which methods are commonly used?
• What is catch history and how is it used?
• Which of the following is a GAO standard for internal controls?
• What does the Value Stream principle advocate?
• Which statement defines a Significant Deficiency?
• Which UTC code corresponds to a Comptroller at the rank of Major or Lieutenant Colonel?
• What did the 2018 National Defense Authorization Act change regarding audit planning?
• What is a key benefit of catch shares or IFQs in PFMC management?
• Which statement best describes the difference between a benchmark assessment and an update assessment?
• Which factor is most likely considered under ecosystem-based management decisions?
• What does Enterprise Risk Management (ERM) encompass?
• In the 5S method, what does Sort aim to do?
• What are performance indicators?
• Which category of evidence is based on personal accounts?
• Which statement best describes the order of the four audit phases?
• How many geographic combatant commands are there?
• Which statement best describes the relationship between ABC and ACL?
• Which of the following are examples of Category B NAFs?
• What are Reimbursable Funds?
• What are Revolving Funds?
• What is the role of an update assessment in stock management?
• What document is the starting point for the annual audit?
• What are the three types of deficiencies in GAO internal controls?
• Under PFMC management, when are rebuilding actions typically triggered?
• The Federal Managers' Financial Integrity Act (FMFIA) was enacted in which year?
• What is area-based management in PFMC?
• Which core functions do FM provide when deployed?
• Which statement best describes the Air Force Audit Agency’s function?
• Why are precautionary buffers used when setting ACLs?
• Which UTC code identifies Comptroller Logistic Kit?
• What is the Green Book?
• Which provision did the 1921 Budget and Accounting Act require?
• Which example best illustrates demonstrative evidence?
• Which statement about the relationship between PFMC and NMFS is correct?
• Which is the correct set for TIMWOODS waste categories?
• Define Optimum Yield (OY) in PFMC context.
• Which NAF category is Mission Sustaining?
• How does climate variability affect stock status in PFMC management?
• What is the goal of incorporating climate variability into PFMC management decisions?
• Which GAO standard is primarily concerned with ensuring information is communicated throughout the organization to support decision making?
• What did the 2010 National Defense Authorization Act mandate regarding audit readiness?
• Define liabilities.
• Define assets.
• In the data visualization process, which stage involves running queries to look for trends, patterns, and exceptions?
• Which UTC corresponds to Comptroller Logistic Kit (LODGET Kit)?
• Which of the following correctly identifies the four audit opinions described in the material?
• Which statement best describes the 2018 NDAA change to audit planning?
• If a unit needs a Senior Enlisted Leader in Financial Management, which UTC code applies?
• What is an area closure example in PFMC management?
• Internal controls are defined as processes that provide reasonable assurance that an organization will achieve its objectives. They must align with what?
• Which UTC corresponds to Financial Management Senior Enlisted Leader?
• Which LEAN principle focuses on recognizing the customer's concept of value?
• What is 5S?
• What does Category B NAFs represent?
• Who authored the Green Book?
• In LEAN, what does the Pull principle emphasize?
• What is the purpose of a stock assessment benchmark?
• What is public comment in PFMC rulemaking?
• What is observer coverage and why is it important?
• Which statement best describes how DAS and TAC interact in PFMC management?
• Which stage of data visualization focuses on sharing findings with the target audience?
• What is the purpose of EFH designations?
• How are penalties for PFMC violations determined?
• Which of the following is a geographic combatant command?
• What is FIAR?
• Which statement is true about the UTC list?
• What is Standard Work?
• What are the three DoD Funds?
• Which National Standard sets the policy to prevent overfishing while achieving optimum yield?
• What did the 2010 National Defense Authorization Act mandate?
• How are gear restrictions used to manage PFMC fisheries?
• What is PDCA?
• What is the General Fund?
• The GMRA amended the CFO Act to require a consolidated financial statement for the entire executive branch. Which of the following best describes this requirement?
• Category C NAF (Revenue Generating) describes activities that are?
• What does SSB stand for and what does it indicate in stock assessments?
• Which of the following is NOT one of the AFFORGEN phases?
• What are Appropriated Funds?
• What did the 1990 Chief Financial Officers (CFO) Act require?
• Which three components are typically involved before measures for a new or emerging fishery are adopted?
• How does an Annual Catch Limit (ACL) relate to the OFL?
• Which scenario results in a Disclaimer of Opinion?
• Which LEAN principle refers to the smooth movement of products and services along the value stream?
• In ecosystem-based fishery management (EBFM), which factors are considered in decision making?
• A golf course falls under which NAF category?
• What is DAR-Q?
• Which statement accurately describes the PFMC's management jurisdiction?
• What is the role of quota share transferability restrictions?
• During Planning phase, what does the auditor do?
• In 5S, what is Sustain responsible for?
• Optimum Yield (OY) in PFMC considerations involves which factors?
• What is the role of the NMFS Regional Administrator in PFMC processes?
• Which statement about misstativeness pervasiveness is true according to the material?
• How does risk-averse management differ from conventional management?
• Which UTC code corresponds to Cashier/Customer Service/Paying Agent?
• What is the role of risk of overfishing and how is it quantified?
• Which of the following is a functional combatant command?
• Why is catch history important for allocation fairness?
• Which category of evidence directly demonstrates a fact, such as a recording or chart?
• What is QAP?
• What is net position?
• What is the purpose of MICT?
• Which sequence correctly lists the first three S's of the 5S methodology?
• What does not overfished stock status indicate in PFMC terms?
• Which of the following are examples of Category C NAFs?
• What sets the foundation for all other GAO standards?
• Which GAO standard is described as the foundation reflecting the organization's ethical tone and attitude toward internal controls?
• What is a seasonal closure and why is it used?
• What is the Air Force Audit Agency?
• How many Combatant Commands are there?
• What is Category B NAF (Community Support)?
• What describes the Unmodified (Clean) Opinion?
• What role does catch history play in allocations?
• How does forecasting differ from stock assessment in PFMC planning?
• What is the purpose of monitoring and evaluation in PFMC management?
• Which of the following best describes the relationship between misstatements and the type of audit opinion in the material?
• What did the 1950 Accounting and Auditing Procedures Act require?
• Which fund is the principal operating fund of the U.S. Treasury?
• Which change did the 2018 NDAA introduce regarding audit planning?
• What does SFIS stand for?
• In the data visualization process, which stage involves charting the findings?
• What are the four stages of data visualization?
• Which of the following is an example of Category A NAFs?
• What is data-limited stock management?
• How does PFMC use catch shares or IFQs?
• Which statement about bycatch caps is true?
• What does Category C NAFs represent?
• What does science integration entail in PFMC decisions?
• Why are public comment periods important in PFMC rulemaking?
• The DoD is required to establish and maintain financial management systems that comply with federal standards by which act?
• Which condition leads to a Disclaimer of Opinion?
• What are processing tools?
• What is the function of safeguards or buffers in setting ACLs?
• Which of the following statements is true about misstatement pervasiveness?
• What is the purpose of an area closure?
• What is the purpose of public data transparency in PFMC?
• What is LEAN primarily used for?
• What is the primary objective of the Magnuson-Stevens Act (MSA) as it applies to PFMC-managed fisheries?
• In the data visualization process, which stage involves identifying suitable data sources and gathering information?
• What are Non-Appropriated Funds (NAFs)?
• Which GAO standard ensures relevant, reliable, and timely information is communicated throughout the organization?
• Which funds are used to account for money held by the government as a custodian for others?
• What is IGEMS used for?
• Which of the following is an example of a processing tool?
• What is a contingency?
• Which of the following is a new stage of deployment?
• Which condition leads to a Qualified Opinion?
• In 5S, what is the purpose of Standardize?
• What is a rebuilding plan and when is it required?
• During Internal Control phase, what is the primary activity?