CDFM BUNDLE COMPILATION FINAL
PAPER 2026 QUESTIONS AND SOLUTIONS
GRADED A+ COMPLETE REVIEW VERIFIED
ANSWERS
⩥ Order of financial activity. Answer: 1. Congress Appropriates
2. OMB Apportions
3. Agency Allots, Commits, Obligates, Outlays 1.1.47
⩥ Budget Authority. Answer: Congress provides budgetary authority in
an appropriations act. 1.1.51
⩥ Budget Deficit in FY17. Answer: Outlays are expected to exceed
budget receipts by $500B1.1.51
⩥ Discretionary Spending. Answer: Budgetary resources that are not
directed for spending programs, provided in an appropriations act. 1.1.51
⩥ Mandatory Spending. Answer: Controlled by laws other than
appropriations act (i.e. food stamps program) 1.1.52
⩥ Obligation. Answer: Legal reservation of funds 1.1.52
, ⩥ Commitment. Answer: Administrative reservation of funds by the
Comptroller in anticipation of an obligation 1.1.51
⩥ 1921 Budget and Accounting Act. Answer: Requires President to
submit annual budget proposal to Congress and established OMB and
GAO. 1.1.56
⩥ 1974 Congressional Budget and Impoundment Control Act. Answer:
Created the Congressional Budget Office 1.1.56
⩥ 1990 Budget Enforcement Act. Answer: Divided spending into
mandatory and discretionary; established pay-as-you-go for entitlements.
1.1.56
⩥ 1993 Government Performance and Results Act (GPRA) (Amended
by the 2010 GPRA Modernization Act). Answer: Required agencies to
submit strategic plans by September 30, 1997; required annual
performance plans; required performance reports 1.1.57
⩥ OMB Circular A-76. Answer: Performance of Commercial Activities
1.2.4 Establishes Federal policy regarding the performance of a
commercial activity (CA); establishes the procedures for determining if
a CA should be performed under contract with commercial sources or in-
house using Government facilities or personnel 1.2.22
PAPER 2026 QUESTIONS AND SOLUTIONS
GRADED A+ COMPLETE REVIEW VERIFIED
ANSWERS
⩥ Order of financial activity. Answer: 1. Congress Appropriates
2. OMB Apportions
3. Agency Allots, Commits, Obligates, Outlays 1.1.47
⩥ Budget Authority. Answer: Congress provides budgetary authority in
an appropriations act. 1.1.51
⩥ Budget Deficit in FY17. Answer: Outlays are expected to exceed
budget receipts by $500B1.1.51
⩥ Discretionary Spending. Answer: Budgetary resources that are not
directed for spending programs, provided in an appropriations act. 1.1.51
⩥ Mandatory Spending. Answer: Controlled by laws other than
appropriations act (i.e. food stamps program) 1.1.52
⩥ Obligation. Answer: Legal reservation of funds 1.1.52
, ⩥ Commitment. Answer: Administrative reservation of funds by the
Comptroller in anticipation of an obligation 1.1.51
⩥ 1921 Budget and Accounting Act. Answer: Requires President to
submit annual budget proposal to Congress and established OMB and
GAO. 1.1.56
⩥ 1974 Congressional Budget and Impoundment Control Act. Answer:
Created the Congressional Budget Office 1.1.56
⩥ 1990 Budget Enforcement Act. Answer: Divided spending into
mandatory and discretionary; established pay-as-you-go for entitlements.
1.1.56
⩥ 1993 Government Performance and Results Act (GPRA) (Amended
by the 2010 GPRA Modernization Act). Answer: Required agencies to
submit strategic plans by September 30, 1997; required annual
performance plans; required performance reports 1.1.57
⩥ OMB Circular A-76. Answer: Performance of Commercial Activities
1.2.4 Establishes Federal policy regarding the performance of a
commercial activity (CA); establishes the procedures for determining if
a CA should be performed under contract with commercial sources or in-
house using Government facilities or personnel 1.2.22
