CERTIFIED DEFENSE FINANCIAL MANAGER (CDFM) 2023-2024 ACTUAL EXAM TEST BANK 270 QUESTIONS
AND CORRECT DETAILED ANSWERS
What was the predecessor to the Constitution? - (answer) Articles of Confederation
Where are Federal-Level laws enacted? - (answer) Congress
What Article, Section and Clause empowers Congress to collect taxes - (answer) Article 1, Section 8,
Clause 1
What occurs when the President does not sign an enrolled bull within 10 days? - (answer) Pocket Veto
Which branch of government implements laws? - (answer) Executive
Approximately what percent of federal spending is discretionary? - (answer) 30%
How frequently does congress review the DoD budget request? - (answer) Annually
Who attempts to resolve differences between the House and Senate versions of a bill? - (answer)
Conference Committee
Which agency issues direction for submitting budget estimates? - (answer) OMB
What type of legislation provides an agency with budget authority? - (answer) Appropriation Acts
What term is used to describe a subdivision of an apportionment? - (answer) Allotment
What agency issues apportionments? - (answer) OMB
Which branch of government conducts hearings on the effectiveness of government programs? -
(answer) Legislative
,CERTIFIED DEFENSE FINANCIAL MANAGER (CDFM) 2023-2024 ACTUAL EXAM TEST BANK 270 QUESTIONS
AND CORRECT DETAILED ANSWERS
In the federal budget process, who is responsible for submitting budget estimates? - (answer) Agencies
What is the largest source of federal government tax revenue? - (answer) Individual Income Taxes
What are requests for funds in addition to amounts already appropriated? - (answer) Supplemental
What financial control document is issued by the Treasury Department following signature of the
Appropriations Act? - (answer) Appropriations Warrant
What term describes a postponement in the use of appropriated funds? - (answer) Deferral
What term describes a cancellation of appropriated funds? - (answer) Rescission
After the DoD Appropriations Bill is signed into law, what does DoD request from OMB? - (answer)
Apportionment
A legal reservation of funds in known as what? - (answer) Obligation
What term is used to identify a certification provided to a KO from the comptroller authorizing Purpose,
Time and Amount? - (answer) Fiduciary Certification
A fiduciary certification is the basis for what? - (answer) Commitment
Define Budget Authority - (answer) Amount of money available to an organization for obligation
Define Outlays - (answer) Funds that have actually been moved from the Federal Treasury
Monitoring requirements in budget execution involves: - (answer) 1. Administrative control of funds
2. Reporting results
,CERTIFIED DEFENSE FINANCIAL MANAGER (CDFM) 2023-2024 ACTUAL EXAM TEST BANK 270 QUESTIONS
AND CORRECT DETAILED ANSWERS
3. Assessment of applicability of results
4. Supply of financial info to DoD managers
Who conducts both financial and program audits to ensure the integrity of programs? - (answer)
Government Accountability Office (GAO)
The Government Performance and Results Act requires budget formulation be based on what? -
(answer) Performance planning/reporting
The 1921 Budget and Accounting Act was was responsible for the creation of what? - (answer) OMB,
GAO and the Comptroller General
What Act requires the President to submit an annual budget proposal to Congress? - (answer) 1921
Budget and Accountability Act
What act established sequestration? - (answer) 1985 Balanced Budget and Emergency Deficit Act
What Act established the pay-as-you-go (PAYGO) for entitlements - (answer) 1990 Budget Enforcement
Act
What are the 1985 and 1987 Balanced Budget Acts ofter referred to as? - (answer) Gramm-Rudman-
Hollings Acts
GPRA requires what three things? - (answer) Strategic Planning
Performance Planning and Goal Setting
Performance Reporting
An administrative reservation of funds is known as what? - (answer) Commitment
, CERTIFIED DEFENSE FINANCIAL MANAGER (CDFM) 2023-2024 ACTUAL EXAM TEST BANK 270 QUESTIONS
AND CORRECT DETAILED ANSWERS
What establishes the DoD policy and procedures of administrative controls? - (answer) DoD FMR
7000.14R, Volume 14, Chapter 1
What gives a Federal Agency the legal authority to operate a program? - (answer) Authorization
Date for the:
Articles of Confederation
Ratification of the Constitution
Implementation of the Constitution - (answer) March 1, 1781
June 1788
March 4, 1789
What Amendment provided the Bill of Rights - (answer) 10th
What did the 17th Amendment allow? - (answer) Senators to be elected by the people of the state
instead of appointed by the legislature of the state.
When was the practice of "Line Item Vetoing" found unconstitutional by the supreme court? - (answer)
1998
Where does the Supreme Court not have jurisdiction? - (answer) Matters involving ONLY violation of
state law
Congress has been meeting ______ times per year since ________. - (answer) Once, 1789
What article and section assigned responsibility for making laws to conress? - (answer) Article 1,
Section 1
What is a Bill? - (answer) Legislative proposal of a general nature that can address either a private or
public nature
AND CORRECT DETAILED ANSWERS
What was the predecessor to the Constitution? - (answer) Articles of Confederation
Where are Federal-Level laws enacted? - (answer) Congress
What Article, Section and Clause empowers Congress to collect taxes - (answer) Article 1, Section 8,
Clause 1
What occurs when the President does not sign an enrolled bull within 10 days? - (answer) Pocket Veto
Which branch of government implements laws? - (answer) Executive
Approximately what percent of federal spending is discretionary? - (answer) 30%
How frequently does congress review the DoD budget request? - (answer) Annually
Who attempts to resolve differences between the House and Senate versions of a bill? - (answer)
Conference Committee
Which agency issues direction for submitting budget estimates? - (answer) OMB
What type of legislation provides an agency with budget authority? - (answer) Appropriation Acts
What term is used to describe a subdivision of an apportionment? - (answer) Allotment
What agency issues apportionments? - (answer) OMB
Which branch of government conducts hearings on the effectiveness of government programs? -
(answer) Legislative
,CERTIFIED DEFENSE FINANCIAL MANAGER (CDFM) 2023-2024 ACTUAL EXAM TEST BANK 270 QUESTIONS
AND CORRECT DETAILED ANSWERS
In the federal budget process, who is responsible for submitting budget estimates? - (answer) Agencies
What is the largest source of federal government tax revenue? - (answer) Individual Income Taxes
What are requests for funds in addition to amounts already appropriated? - (answer) Supplemental
What financial control document is issued by the Treasury Department following signature of the
Appropriations Act? - (answer) Appropriations Warrant
What term describes a postponement in the use of appropriated funds? - (answer) Deferral
What term describes a cancellation of appropriated funds? - (answer) Rescission
After the DoD Appropriations Bill is signed into law, what does DoD request from OMB? - (answer)
Apportionment
A legal reservation of funds in known as what? - (answer) Obligation
What term is used to identify a certification provided to a KO from the comptroller authorizing Purpose,
Time and Amount? - (answer) Fiduciary Certification
A fiduciary certification is the basis for what? - (answer) Commitment
Define Budget Authority - (answer) Amount of money available to an organization for obligation
Define Outlays - (answer) Funds that have actually been moved from the Federal Treasury
Monitoring requirements in budget execution involves: - (answer) 1. Administrative control of funds
2. Reporting results
,CERTIFIED DEFENSE FINANCIAL MANAGER (CDFM) 2023-2024 ACTUAL EXAM TEST BANK 270 QUESTIONS
AND CORRECT DETAILED ANSWERS
3. Assessment of applicability of results
4. Supply of financial info to DoD managers
Who conducts both financial and program audits to ensure the integrity of programs? - (answer)
Government Accountability Office (GAO)
The Government Performance and Results Act requires budget formulation be based on what? -
(answer) Performance planning/reporting
The 1921 Budget and Accounting Act was was responsible for the creation of what? - (answer) OMB,
GAO and the Comptroller General
What Act requires the President to submit an annual budget proposal to Congress? - (answer) 1921
Budget and Accountability Act
What act established sequestration? - (answer) 1985 Balanced Budget and Emergency Deficit Act
What Act established the pay-as-you-go (PAYGO) for entitlements - (answer) 1990 Budget Enforcement
Act
What are the 1985 and 1987 Balanced Budget Acts ofter referred to as? - (answer) Gramm-Rudman-
Hollings Acts
GPRA requires what three things? - (answer) Strategic Planning
Performance Planning and Goal Setting
Performance Reporting
An administrative reservation of funds is known as what? - (answer) Commitment
, CERTIFIED DEFENSE FINANCIAL MANAGER (CDFM) 2023-2024 ACTUAL EXAM TEST BANK 270 QUESTIONS
AND CORRECT DETAILED ANSWERS
What establishes the DoD policy and procedures of administrative controls? - (answer) DoD FMR
7000.14R, Volume 14, Chapter 1
What gives a Federal Agency the legal authority to operate a program? - (answer) Authorization
Date for the:
Articles of Confederation
Ratification of the Constitution
Implementation of the Constitution - (answer) March 1, 1781
June 1788
March 4, 1789
What Amendment provided the Bill of Rights - (answer) 10th
What did the 17th Amendment allow? - (answer) Senators to be elected by the people of the state
instead of appointed by the legislature of the state.
When was the practice of "Line Item Vetoing" found unconstitutional by the supreme court? - (answer)
1998
Where does the Supreme Court not have jurisdiction? - (answer) Matters involving ONLY violation of
state law
Congress has been meeting ______ times per year since ________. - (answer) Once, 1789
What article and section assigned responsibility for making laws to conress? - (answer) Article 1,
Section 1
What is a Bill? - (answer) Legislative proposal of a general nature that can address either a private or
public nature
