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CDFM Exam 1 Study Set – Questions and Answers
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CDFM Exam 1 Study Set – Questions and Answers
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CDFM Exam 1 Study Set – Questionsand Answers
Competency 1: Gov't Resource Management Environment - -...
-OMB Circular A-11 - -Preparation & Submission of Budget Estimates
-OMB Circular A-76 - -Performance of Commercial Activities
-OMB Circular A-123 - -Management's Responsibility for Internal Control
-OMB Circular A-136 - -Financial Reporting Requirements
-What was precursor to Constitution? - -Articles Of Confederation (1781)
-What was required to amend the Art. Of Confed? - -Unanimous approval
from all states
-When was Constitution Ratified? - -June 1788
-What is the principle behind the separation of power between the 3
branches? - -Devised to allay the fear that a centralized government would
lead to tyranny
-What is the essential principle of the Constitution? - -That the government
must be confined to the rule of law
-What does the Constitution define as the fundamental law of the US Federal
Government? - -Set forth the 3 principal branches of the Federal
Government; outline their jurisdictions; propound the basic rights of US
citizens
-What Article lays out the rules for the Legislative Branch? - -Article I
-What section of Article 1 allows Congress to levy taxes and establish
District Courts? - -Section 8
-What Article lays out the rules for the Executive Branch? - -Article 2
-What Article lays out the rules for the Judicial Branch? - -Article 3
-Where are all revenue bills generated? - -House of Representatives
, -The President has how many days to act on a bill? - -10, excluding Sundays
or Holidays
-What can override a Presidential veto of a bill? - -2/3 approval in both
chambers
-Congress is adjourned and the President fails to sign a bill during the 10-
day period, that bill does not become law. - -Pocket Veto
-What is important about Art I, Sec 9? - -No money is to be issued from
Treasury without an Appropriation law
-A legislative proposal of a general nature, only allowed to be introduced by
a member of Congress, and must be reviewed by the President for approval
into law or rejected with a veto. - -Bill
-Legislative proposal similar to a bill, frequently used to amend the
Constitution , and can originate in either the House or Senate, and must be
reviewed by the President the same as a bill. - -Joint Resolution
-Proposal to address matters that affect the operation of both the House and
Senate, does not go to the President for action. - -Concurrent Resolution
-Proposal to address matters that affect the operation of either the House or
the Senate, does not go to the President for action. - -Simple Resolution
-The bill that has passed one body, House or Senate, is called what? - -
Engrossed bill
-Committee appointed to resolve differences between bills approved in both
the House and Senate. Referred to as "the third chamber" of Congress. - -
Conference committee
-A bill that has passed the House and Senate in identical form to be sent to
the President for action is called what? - -Enrolled bill
-What are the phases of the Federal Budget Process? - -Budget formulation
Congressional Action
Budget Execution
-The Federal Budget is the _____ Budget. - -The President's
-Phase governed by OMB A-11. Organizations start drafts as early as 21
months prior to the FY in which it will be executed - -Phase 1: Budget
Formulation
, -When must the President submit the next FY Budget? - -1st Monday in
February
-What occurs for the Agency March - May in the Budget Formulation phase?
- -Internal budget process, program, budget and management issues are
identified, issues internal instructions on preparation of annual budget
estimates.
-What occurs for the OMB May - June in the Budget Formulation phase? - -
Discusses program, budget, and management issues with agencies
throughout the process. Issues technical instructions for preparation of
annual budget estimates.
-What occurs for the President and Advisors January - February in the
Budget Formulation Phase? - -Transmits budget to Congress between the
first Monday in January and first Monday in February.
-The internal review of the budget submissions from the Services and
Defense Agencies that occurs with the OSD and senior OMB examiners Sept -
Dec. - -Fall Review
-The document containing the results of the OMB budget review that can
change the funding for individual programs. - -Passback. Results can be
appealed to the President by the Agency Head (SecDef for DoD)
-What Act changed the congressional budget process significantly? - -
Congressional Budget and Impoundment Control Act of 1974
-Phase of the Federal Budget Process that begins with the Director, OMB,
and the Sec of the Treasury appearing before Congress budget committees
to explain the basis for the proposals. - -Phase 2: Congressional Action
Phase
-What phase of the Federal Budget Process do Agencies testify to Congress
regarding their budget requests? - -Phase 2: Congressional Action Phase
-What 3 processes occur during the Congressional Action Phase? - -Budget
Resolution
Authorization
Appropriation
-Process of estimating the budgetary effects of pending legislation and
comparing to a baseline. Done by the Congressional Budget Office in support
of the various committees. - -Scorekeeping
, -Sets the maximums for new budget authority, sets outlay targets for the
budget as a whole. Establishes targets for the Gross National Debt, revenues,
and surplus or deficit. Used to develop joint explanatory statement including
estimated allocation of budget total. - -Concurrent Budget Resolution
-Who manages the authorization process for DoD? - -House Armed Services
Committee (HASC) and the Senate Armed Services Committee (SASC)
-Prepared for adoption each year to provide budget authority to operate the
entire Government. Managed by House and Senate Appropriations Commitee
(HAC/SAC). - -Appropriations Bill
-What are the 3 Appropriations Subcommittees who directly affect DoD
funding? - -Energy & Water Development; Defense; Military Construction,
Veteran's Affairs, & Related Agencies
-Estimates transmitted to Congress that amend (revise) budget estimates
transmitted previously and on which Congress has not completed action. - -
Budget Amendments
-Requests transmitted to Congress to provide funds in addition to amounts
already appropriated for the ongoing FY. - -Supplemental Requests
-Temporary appropriations act that provides budget authority for specific
ongoing activities for a specific period of time. Availability can be extended
by Congress, and can extend into a different session of Congress. - -
Continuing Resolution
-Who prepares the Concurrent Budget Resolution? - -House and Senate
Budget committees
-Who conducts hearings and draft and submit the National Defense
Authorization Bills that authorize programs to exist? - -House and Senate
Armed Services Committee (HASC/SASC)
-Who conducts hearings and draft and submit the Appropriations Bills that
provide budget authority for the Government? - -House and Senate
Appropriations Committee (HAC/SAC)
-Funds may be obligated and expended only for the purposes authorized in
the appropriations acts or other laws. - -Purpose
-Period that budgetary resources may incur new obligations (i.e. order new
goods/services) is different from the period during which the budgetary
resources may be used to incur expenditures (i.e. pay bills). - -Time
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