ICOF-UNZA

SEMISTER FINAL EXAMINATION

SCHOOL OF MANAGEMENT SCIENCES
PUBLIC FINANCIAL MANAGEMENT
DHR/DPA
SEPTEMBER/OCTOBER 2023

INSTRUCTIONS TO CANDIDATES

1. This paper consist of TWO sections. Attempt ALL questions in Section A and attempt
only two questions in section B.
2. Time allowed is Two hours.

1
 SECTION A
1. Define the following terms .
(a) State
(b) Society
(c) Governance [6 Marks]
2. Public financial management system involves several stakeholders that include state
and non-state actors.
(a) Explain 3 actors involved in the public financial management. [3 Marks]
(b) Why are these stakeholders engaged in the public financial management cycle
[4 Marks]
3. Define the following terms.
(a) Fiscal discipline
(b) Fiscal decentralization [4 Marks]
4. Despite the ministry of finance being the main coordinating body responsible for
public financial management. The ministry is divided into departments. Explain the 4
departments and their functions. [4 Marks]
5. Briefly explain the functions of;
(a) Bank of Zambia

(b) Zambia Revenue Authority [4 Marks]

TOTAL MARKS: 20

SECTION B

1. Discuss the functions of public financial management. [15 Marks]

2. For the public financial management to achieve overall fiscal discipline and allocation of
resources, objectives are critically followed. Explain with examples, 5 objectives of
public financial management. [15 Marks]

2
3. What are the benefits of fiscal decentralization . [15 Marks]
TOTAL MARKS: 30