CERTIFIED DEFENSE FINANCIAL MANAGER (CDFM) ACTUAL EXAM TEST BANK 270 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

CERTIFIED DEFENSE FINANCIAL MANAGER

(CDFM) 2023-2024 ACTUAL EXAM TEST BANK

270 QUESTIONS AND CORRECT DETAILED

ANSWERS (VERIFIED ANSWERS) |ALREADY

GRADED A+

After a measure/bill has been passed in identical form by both

legislative bodies, it is known as what? - ANSWER- An

enrolled bill

How many votes are required for reconsideration of a bill to

overrule a presidents veto? - ANSWER- 2/3rds

What are the three steps of a Federal Budget Cycle? -

ANSWER- Budget Formulation

Congressional Action

Budget Execution

When is the president required to submit the proposed budget to

congress, and what act established this? - ANSWER- First

Monday in February; The 1974 Congressional Budget Act

The budget formulation process is governed by what? -

ANSWER- OMB Circular A-11

What are the 6 major steps in the budget formulation stage as

laid out in the OMB Circular A-11? - ANSWER- 1. OMB Issues

Guidance

2. Organization develops draft

3. Agency submits budget estimates

4. OMB hold hearings on Agency budgets

5. President makes final decisions on Agency budgets

6. President transmits the budget to congress

What does DoD use as their strategic plan? - ANSWERNational Defense Strategy (NDS)

The formulation phase starts how many months before the Fiscal

Year in which the budget will be executed? - ANSWER- 21

months

What term is used to describe the formal results provided back

to agencies after OMB's review. - ANSWER- Passback

Who does OMB send their passback report too? - ANSWERHead of the Agency

Who can passback results be appealed to? - ANSWERPresident

What changes can be made through the passback? - ANSWERFunding for individual programs

Reduce or increase Agency funding

Direct that additional funding be added to specific programs

within existing Agency funding levels.

What are the three major processes associated with the

Congressional Action phase? - ANSWER- Budget Resolution

Process

Authorization Process

Appropriation Process

How many appropriations are there? - ANSWER- 12; One from

each Agency

What date should the House and Senate Budget Committee

receive reports from all other congressional committees? -

ANSWER- March 15th

The congressional budget office provides support to the various

committees through ____________? - ANSWER- scorekeeping

Define scorekeeping? - ANSWER- Process of estimating the

budgetary effects of pending legislation and comparing them to

a baseline such as budget resolution or limits set in law.

By law the Concurrent Budget Resolution must be completed by

what date? - ANSWER- April 15th

Does the Concurrent Budget Resolution require the president's

signature? - ANSWER- No

The output of the authorization process may be considered

_________ or __________ legislation, which also provides

_________ _________ legislation. - ANSWER- enabling or

organic

appropriation authorization

How often and by what means must the DoD be authorized? -

ANSWER- Annually through the National Defense Act

Who manages the authorization process for DoD? - ANSWERHouse and Senate Armed Services Committess