GFEBS Debt Management Practice Test 2026 – Complete Exam Prep

The correct answer is based on the use of the Intra-Governmental Payment and Collection System (IPAC) for processing collections received by the U.S. Treasury for debts referred by GFEBS. IPAC is specifically designed to facilitate and streamline inter-agency transactions, allowing for efficient and accurate processing of payments and collections among federal entities.

GFEBS (General Fund Enterprise Business System) integrates various functions including budget formulation, execution, and the management of debt. When debts are referred to the U.S. Treasury, the handling of collections is streamlined through IPAC, enhancing accountability and ensuring that the funds are accurately tracked and transferred across government accounts.

In contrast, other methods mentioned are not standard for processing these types of collections. For example, while the Federal Revenue System is indeed a part of federal financial operations, it does not specifically refer to the collection of debts that are managed through GFEBS. Manual logging procedures would introduce inefficiencies and the potential for errors, making them unsuitable for modern debt management practices. Direct deposit to agency accounts may occur in specific situations, but it isn't the standardized process used for debts referred through GFEBS. Thus, IPAC is the correct and most efficient system utilized for this purpose.