Cdfm Module Exam Questions And Correct Answers (Verified Answers) | Already Graded A+

CDFM Module EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) | ALREADY GRADED A+ Genesis of US federal process can be traced to these events - CORRECT ANSWER- Declaration of independence, Articles of Confederation, Constitution ratified by 9 states, constitution took effect. What did amendment to articles of confederation require? - CORRECT ANSWER- Unanimous approval of all the states Essential principle of constitution? - CORRECT ANSWER- Everything you do must be legal in purpose, time and amount. What are the first 10 amendments to the constitution called? - CORRECT ANSWER- Bill of rights What does Article 1, Section 8 of the Constitution state? - CORRECT ANSWER- Congress shall have the authority to make all laws which shall be necessary and proper for carrying into execution. What does the preamble to the constitution of the US begin with and how do we exercise its sentiment? - CORRECT ANSWER- We the people, through elections. What constitutional amendment is known as states’ rights? - CORRECT ANSWER- Amendment 10 First required president to submit annual budget proposal to congress AND established OMB/GAO? - CORRECT ANSWER- 1921 Budget and Accounting Act What act shifted congress to focus on overall budget totals, created new budget committees in each house and shifted the fiscal year from July to October? - CORRECT ANSWER- 1974 Congressional Budget and Impoundment Control Act What prohibits the president from withholding funds without sufficient reason? - CORRECT ANSWER- Impoundment Control Act of 1974 Used for matters affecting the operations of BOTH! The house and the senate, does not go to president for signature? - CORRECT ANSWER- Concurrent resolution (1) Established deficit reduction goals aimed at a balanced budget in FY 1991 - CORRECT ANSWER- 1985 Balanced Budget and Emergency Deficit Control Act What act divided spending into mandatory and discretionary; also established pay as you go entitlement? - CORRECT ANSWER- 1990 Budget Enforcement Act (1) Changed way budgets are to be justified and managed (2) Focused budget process on planning (3) Required agencies to submit strategic plans by September 30 (4) Required annual performance plans - CORRECT ANSWER- 1993 Government Performance and Results Act Annual performance plan requires OMB to establish federal priority goals and agencies to establish priority goals. - CORRECT ANSWER- 2010 GPRA Modernization Act (1) Put in place 3 phased processes to increase debt ceiling (2) Mandated a vote on constitutional Balanced Budget amendment - CORRECT ANSWER- 2011 Budget Control Act Used for matters affecting the operations of EITHER! The house and the senate, does not go to president for signature? - CORRECT ANSWER- Simple resolution What are the three phases of the budget cycle? - CORRECT ANSWER- Budget formulation, Congressional action, Budget Execution What Act states the president must submit to congress his proposed budget for the next fiscal year by the first Monday in February? - CORRECT ANSWER- 1974 Congressional Budget Act What is it called when OMB reviews an agency’s budget returns it to the agency with or without funding changes? This can be appealed to the president by the agency head? - CORRECT ANSWER- Pass back Defined in OMB Circular A-11 as the lowest level of budgetary formulation? - CORRECT ANSWER- Object class How many appropriations acts are there? - CORRECT ANSWER- 12 What are the three steps in the Budget Enactment process? - CORRECT ANSWER- Budget Resolution Process, Authorization Process, Appropriations Process What happens during Budget Resolution Process? - CORRECT ANSWER- OMB and Secretary of the Treasury appear before the house budget committee and senate budget committee to explain basis for budget proposals. Ends with a concurrent budget resolution. What do HASC and SASC primarily do for the DOD? - CORRECT ANSWER- Authorizations process What do the HAC and SAC primarily do for the entire federal government? - CORRECT ANSWER- Appropriations process