Public Finance Management Act (PFMA) Quiz

What is the primary focus of the PFMA in terms of financial management?

• Cost-based approach

• Resource-based approach

• Output-based approach

• Input-based approach

Which chapter of the PFMA deals with the establishment of the national treasury?

• Chapter 4

• Chapter 3

• Chapter 2

• Chapter 1

What is the role of provincial treasuries as outlined in the PFMA?

• To outline their composition, functions, and responsibilities

• To manage national budgets

• To oversee local government spending

• To coordinate intergovernmental fiscal relations

Which chapter of the PFMA outlines the responsibilities of ministers and MECs?

• Chapter 7

• Chapter 6

• Chapter 5

• Chapter 8

What does Chapter 8 of the PFMA regulate?

• Budget preparation process

• Appointment of accounting officers

• Financial misconduct

• Borrowing funds by government

What is the purpose of the accounting standards board established by the PFMA?

• To regulate borrowing by government

• To oversee financial misconduct

• To determine accounting practices for the public sector

• To manage government budgets

Which chapter of the PFMA deals with financial misconduct?

• Chapter 12

• Chapter 9

• Chapter 10

• Chapter 11

What is one of the benefits of the PFMA?

• Centralized decision-making

• Increased government spending

• Greater flexibility in financial management

• Reduced accountability

How does the PFMA link government plans and budgeting?

• By centralizing budget control

• By reducing financial oversight

• By emphasizing outputs

• By focusing on inputs

What is a key objective of the PFMA?

• To centralize financial control

• To modernize financial management systems

• To increase government debt

• To reduce public sector accountability