CDFM Module 3 (2026) || Most Recent Exam 2026-
2027 Actual Complete Real Exam Questions And
Correct Answers (Verified Answers) Already
Graded A+ | Guaranteed Success!! Newest
Exam | Just Released!!
The reduction or cancellation of new budget authority;
unobligated balances, new loan guarantee commitments, or
limitations. - ANSWER -Sequestration
The DoD FMR provides specific policy, regulations, and
procedure for which all
DoD FMers must adhere to. The regulation is compromised of
______ volumes
- ANSWER -15
volumes
If auditors are deterred from acting objectively and exercising
professional skepticism by pressures, actual or perceived,
from management of the entity being audited, what would this
be called? - ANSWER -Threat to Auditor
Independence
Rule that the expenditure of public funds is proper only
when authorized by
Congress, not that public funds may be expended unless
prohibited by
,Congress. - ANSWER -Basic Axiom of
Fiscal Law
Article and section of the US Constitution that empowers the
Congress to
'PASS BILLS' for raising of revenue, and delineates how bills
will pass from
Congress to the President for signature or Veto - ANSWER -
Article 1, Section 7
Article and section/clause of the US Constitution that
empowers Congress to
'COLLECT TAXES'. - ANSWER -Article 1, Section
8, Clause 1
Article and section/clause of the US Constitution that
'REQUIRES
APPROPRIATIONS' in law before money may be spent from the
Treasury. - ANSWER -Article 1, Section 9 Clause 7
The most authoritative source of information on the proper use
of appropriated funds is a multi-volume treatise published by
the GAO, Office of the GC, titled
Principles of Federal Appropriations Law, better known as
_________ - ANSWER -Red Book
The two additional principles of proper use of appropriated
funds are: (in addition to Red Book) - ANSWER -1. Specific over
general appropriations
,2. Do not do indirectly what you cannot do directly
Law/regulation that required the President to submit an annual
budget to Congress for all three branches of the Federal
Government, created OMG and established GAO - ANSWER -
Budget and Accounting Act of 1921
Law prescribed rules and procedures (including sequestration)
designed to constrain spending and receipts legislation. Act
was commonly known as Gramm-Rudman-Hollings Act. The
BEA amended this act and many people refer to its
requirements as the BEA requirements - ANSWER -P.L. 99-177
Congressional Balanced Budget and Emergency Deficit Control
Act of 1985
USC sections that prescribe rules and procedure for
budget execution -
ANSWER -31 USC 13
and 15
Contained the same act as the Congressional Budget Act, this
law prescribes rules and procedures under which the President
may withhold appropriated amounts from obligation (deferrals
and rescissions) OMB Circular A-11 addresses the
requirements of this law - ANSWER -P.L. 93-344 Budget and
Impoundment Control Act of 1974 2 USC 682-688
Provides instructions on budget execution. Appendix A
contains a crosswalk between the provisions of the ADA and
, revised language of these provisions in 31 USC. Provides
instructions on monitoring outlays, obtaining exemptions from
GAO access to records, reporting requirements for un-
vouchered expenditures, closing account and monitoring
Federal employment. - ANSWER -OMB Circular A-11
Responsible for use of appropriated funds as to the proper
Purpose, Time and
Amount and for those U.S. Codes pertaining thereto -
ANSWER -Fiduciary
Certifier
Responsible for the accuracy of the disbursement of funds
Responsible for the repayment of any disbursement made not
in accordance with proper Purpose, Time or Amount
requirements - ANSWER -Pecuniary
Certifier
Three Dimensions of Budgetary Resources PTA and
USC/Sections – ANSWER
-Purpose- 31 USC
1301
Time- 31 USC
1502
Amount 31 USC 1341, 1342
and 1517
Authorizes an agency head to recognize superior performance
with awards of cash, time off, or merchandise, and to incur
2027 Actual Complete Real Exam Questions And
Correct Answers (Verified Answers) Already
Graded A+ | Guaranteed Success!! Newest
Exam | Just Released!!
The reduction or cancellation of new budget authority;
unobligated balances, new loan guarantee commitments, or
limitations. - ANSWER -Sequestration
The DoD FMR provides specific policy, regulations, and
procedure for which all
DoD FMers must adhere to. The regulation is compromised of
______ volumes
- ANSWER -15
volumes
If auditors are deterred from acting objectively and exercising
professional skepticism by pressures, actual or perceived,
from management of the entity being audited, what would this
be called? - ANSWER -Threat to Auditor
Independence
Rule that the expenditure of public funds is proper only
when authorized by
Congress, not that public funds may be expended unless
prohibited by
,Congress. - ANSWER -Basic Axiom of
Fiscal Law
Article and section of the US Constitution that empowers the
Congress to
'PASS BILLS' for raising of revenue, and delineates how bills
will pass from
Congress to the President for signature or Veto - ANSWER -
Article 1, Section 7
Article and section/clause of the US Constitution that
empowers Congress to
'COLLECT TAXES'. - ANSWER -Article 1, Section
8, Clause 1
Article and section/clause of the US Constitution that
'REQUIRES
APPROPRIATIONS' in law before money may be spent from the
Treasury. - ANSWER -Article 1, Section 9 Clause 7
The most authoritative source of information on the proper use
of appropriated funds is a multi-volume treatise published by
the GAO, Office of the GC, titled
Principles of Federal Appropriations Law, better known as
_________ - ANSWER -Red Book
The two additional principles of proper use of appropriated
funds are: (in addition to Red Book) - ANSWER -1. Specific over
general appropriations
,2. Do not do indirectly what you cannot do directly
Law/regulation that required the President to submit an annual
budget to Congress for all three branches of the Federal
Government, created OMG and established GAO - ANSWER -
Budget and Accounting Act of 1921
Law prescribed rules and procedures (including sequestration)
designed to constrain spending and receipts legislation. Act
was commonly known as Gramm-Rudman-Hollings Act. The
BEA amended this act and many people refer to its
requirements as the BEA requirements - ANSWER -P.L. 99-177
Congressional Balanced Budget and Emergency Deficit Control
Act of 1985
USC sections that prescribe rules and procedure for
budget execution -
ANSWER -31 USC 13
and 15
Contained the same act as the Congressional Budget Act, this
law prescribes rules and procedures under which the President
may withhold appropriated amounts from obligation (deferrals
and rescissions) OMB Circular A-11 addresses the
requirements of this law - ANSWER -P.L. 93-344 Budget and
Impoundment Control Act of 1974 2 USC 682-688
Provides instructions on budget execution. Appendix A
contains a crosswalk between the provisions of the ADA and
, revised language of these provisions in 31 USC. Provides
instructions on monitoring outlays, obtaining exemptions from
GAO access to records, reporting requirements for un-
vouchered expenditures, closing account and monitoring
Federal employment. - ANSWER -OMB Circular A-11
Responsible for use of appropriated funds as to the proper
Purpose, Time and
Amount and for those U.S. Codes pertaining thereto -
ANSWER -Fiduciary
Certifier
Responsible for the accuracy of the disbursement of funds
Responsible for the repayment of any disbursement made not
in accordance with proper Purpose, Time or Amount
requirements - ANSWER -Pecuniary
Certifier
Three Dimensions of Budgetary Resources PTA and
USC/Sections – ANSWER
-Purpose- 31 USC
1301
Time- 31 USC
1502
Amount 31 USC 1341, 1342
and 1517
Authorizes an agency head to recognize superior performance
with awards of cash, time off, or merchandise, and to incur
