CDFM Module 1- 450 Questions and
Correct Answers for CDFM Module 1
Exam Prep Latest (New!)
SECTION 1: THE U.S. CONSTITUTION &
LEGISLATIVE BRANCH (Questions 1-50)
1. The "Power of the Purse" refers to:
• A. The President's authority to spend money
• B. Congress's constitutional authority over
taxation and spending
• C. The Supreme Court's authority over federal
spending
• D. OMB's authority over agency budgets
Rationale: The "Power of the Purse" is Congress's
constitutional authority to levy taxes, borrow money, and
appropriate funds. This is the foundation of legislative
control over federal spending. Article I, Section 8 of the
Constitution grants Congress this power .
,2. The system of checks and balances affects federal
financial management by:
• A. Allowing each branch to act independently
• B. Ensuring no single branch has complete control
over resources
• C. Giving the President exclusive budget authority
• D. Eliminating Congressional oversight
Rationale: The system of checks and balances ensures
that no single branch has total control over federal
resources. The President proposes the budget, Congress
appropriates funds, and the judiciary reviews legality .
3. How many sessions does Congress convene, and
how long do they last?
• A. Two sessions, one year each
• B. One session, two years
• C. Three sessions, one year each
• D. Two sessions, two years each
Rationale: Congress convenes two sessions per Congress,
each lasting approximately one year .
4. Who has the power to lay and collect taxes?
• A. Congress
• B. The President
• C. The Supreme Court
, • D. The Treasury Department
Rationale: Article I, Section 8 of the Constitution grants
Congress the power to lay and collect taxes, duties,
imposts, and excises .
5. Who can constitute tribunals inferior to the
Supreme Court?
• A. Congress
• B. The President
• C. The Supreme Court
• D. The states
Rationale: Congress has the authority to constitute
tribunals inferior to the Supreme Court as established in
Article I, Section 8 .
6. No money shall be drawn from the Treasury but in
consequence of:
• A. Appropriations
• B. Executive orders
• C. Congressional resolutions
• D. Presidential directives
Rationale: Article I, Section 9 states that no money shall
be drawn from the Treasury but in consequence of
appropriations made by law .
, 7. Regular statements and accounts of receipts and
expenditures of all public money shall be:
• A. Published from time to time
• B. Submitted to the President only
• C. Kept secret
• D. Audited annually
Rationale: Article I, Section 9 requires that a regular
statement and account of receipts and expenditures of all
public money shall be published from time to time .
8. The Executive Power is vested in the:
• A. President
• B. Congress
• C. Supreme Court
• D. OMB
Rationale: Article II, Section 1 of the Constitution vests the
executive power in the President of the United States .
9. Who is the Commander in Chief of the Army and
Navy?
• A. The President
• B. The Secretary of Defense
• C. The Chairman of the Joint Chiefs
• D. Congress
Correct Answers for CDFM Module 1
Exam Prep Latest (New!)
SECTION 1: THE U.S. CONSTITUTION &
LEGISLATIVE BRANCH (Questions 1-50)
1. The "Power of the Purse" refers to:
• A. The President's authority to spend money
• B. Congress's constitutional authority over
taxation and spending
• C. The Supreme Court's authority over federal
spending
• D. OMB's authority over agency budgets
Rationale: The "Power of the Purse" is Congress's
constitutional authority to levy taxes, borrow money, and
appropriate funds. This is the foundation of legislative
control over federal spending. Article I, Section 8 of the
Constitution grants Congress this power .
,2. The system of checks and balances affects federal
financial management by:
• A. Allowing each branch to act independently
• B. Ensuring no single branch has complete control
over resources
• C. Giving the President exclusive budget authority
• D. Eliminating Congressional oversight
Rationale: The system of checks and balances ensures
that no single branch has total control over federal
resources. The President proposes the budget, Congress
appropriates funds, and the judiciary reviews legality .
3. How many sessions does Congress convene, and
how long do they last?
• A. Two sessions, one year each
• B. One session, two years
• C. Three sessions, one year each
• D. Two sessions, two years each
Rationale: Congress convenes two sessions per Congress,
each lasting approximately one year .
4. Who has the power to lay and collect taxes?
• A. Congress
• B. The President
• C. The Supreme Court
, • D. The Treasury Department
Rationale: Article I, Section 8 of the Constitution grants
Congress the power to lay and collect taxes, duties,
imposts, and excises .
5. Who can constitute tribunals inferior to the
Supreme Court?
• A. Congress
• B. The President
• C. The Supreme Court
• D. The states
Rationale: Congress has the authority to constitute
tribunals inferior to the Supreme Court as established in
Article I, Section 8 .
6. No money shall be drawn from the Treasury but in
consequence of:
• A. Appropriations
• B. Executive orders
• C. Congressional resolutions
• D. Presidential directives
Rationale: Article I, Section 9 states that no money shall
be drawn from the Treasury but in consequence of
appropriations made by law .
, 7. Regular statements and accounts of receipts and
expenditures of all public money shall be:
• A. Published from time to time
• B. Submitted to the President only
• C. Kept secret
• D. Audited annually
Rationale: Article I, Section 9 requires that a regular
statement and account of receipts and expenditures of all
public money shall be published from time to time .
8. The Executive Power is vested in the:
• A. President
• B. Congress
• C. Supreme Court
• D. OMB
Rationale: Article II, Section 1 of the Constitution vests the
executive power in the President of the United States .
9. Who is the Commander in Chief of the Army and
Navy?
• A. The President
• B. The Secretary of Defense
• C. The Chairman of the Joint Chiefs
• D. Congress
