CDFM Fiscal Law Module Exam With All Correct Answers 2024.

How many branches of the government did the Constitution set up? - Answer 3 - Legislative (I); Executive (II); Judicial (III) What was the predecessor to the Constitution? - Answer Articles of Confederation Where are all federal level laws enacted? - Answer Legislative Branch - Congress Which article of the Constitution is the power to raise taxes? - Answer Article I - Legislative What occurs when president fails to sign a bill for 10 days and Congress is not in session? - Answer Pocket Veto - law does NOT become law How frequently does Congress review DOD Budget Requests? - Answer Annually Approximately what percent of total federal spending is discretionary? - Answer 30% What branch of government IMPLEMENTS laws (enforces) - Answer Executive Which branch of Government is authorized to raise taxes and borrow money? - Answer Legislative Branch (Congress) Which committee attempts to resolve differences between House and Senate versions of a bill? - Answer Conference Committee "Third Chamber" Which agency issues direction for use by other agencies in submitting their budget estimates? - Answer OMB (office of management and budget)