Question 1

Impoundment occurs during which stage of the budget process?

Accepted Answer

A)  preparation 
B)  adoption 
C)  execution 
D)  audit and evaluation 
A)  preparation 
B)  adoption 
C)  execution 
D)  audit and evaluation C

Question 2

Which statement about federal mandatory spending is accurate?

Accepted Answer

A)  Because of its importance for the life of the nation, spending for the military is regarded as mandatory. 
B)  Because appropriation bills must pass for agencies to continue operations, all spending that must go through the full appropriation cycle is considered mandatory. 
C)  Spending for social security benefits is officially mandatory. 
D)  Any public program with strong political support is seen as mandatory. 
A)  Because of its importance for the life of the nation, spending for the military is regarded as mandatory. 
B)  Because appropriation bills must pass for agencies to continue operations, all spending that must go through the full appropriation cycle is considered mandatory. 
C)  Spending for social security benefits is officially mandatory. 
D)  Any public program with strong political support is seen as mandatory. C

Question 3

Which of the following would reduce the level of the net debt of the federal government?

Accepted Answer

A)  Cut expenditure and raise revenue to reduce the deficit from $400 billion to $100 billion. 
B)  Balance the federal budget. 
C)  Run an annual surplus. 
D)  All of the above. 
A)  Cut expenditure and raise revenue to reduce the deficit from $400 billion to $100 billion. 
B)  Balance the federal budget. 
C)  Run an annual surplus. 
D)  All of the above. C

Question 4

The PAYGO budget requirement means:

Accepted Answer

A)  that only programs generating revenues may be proposed for addition to the executive budget. 
B)  that legislation that would increase entitlement spending must be accompanied with an increase in revenue or reduction in spending sufficient to cover the new entitlement spending. 
C)  that debt refinancing must be approved by Congress. 
D)  that no tax reductions are permitted 
A)  that only programs generating revenues may be proposed for addition to the executive budget. 
B)  that legislation that would increase entitlement spending must be accompanied with an increase in revenue or reduction in spending sufficient to cover the new entitlement spending. 
C)  that debt refinancing must be approved by Congress. 
D)  that no tax reductions are permitted

Question 5

Which of the following categories of federal government spending is the largest?

Accepted Answer

A)  Human resources 
B)  Physical resources 
C)  International foreign. aid 
D)  National defense 
A)  Human resources 
B)  Physical resources 
C)  International foreign. aid 
D)  National defense

Question 6

Which of the following is not discretionary spending under the rules of BEA90?

Accepted Answer

A)  Spending for the Department of Defense 
B)  Spending for the Social Security benefits 
C)  Spending for the Environmental Protection Agency 
D)  Spending for homeland defense 
A)  Spending for the Department of Defense 
B)  Spending for the Social Security benefits 
C)  Spending for the Environmental Protection Agency 
D)  Spending for homeland defense

Question 7

Which of the following best describes the Congressional Budget resolution?

Accepted Answer

A)  The budget submitted by the President to Congress 
B)  The formal appropriation of funds to agencies 
C)  The reconciliation of committee appropriations 
D)  Budget priorities established by Congress 
A)  The budget submitted by the President to Congress 
B)  The formal appropriation of funds to agencies 
C)  The reconciliation of committee appropriations 
D)  Budget priorities established by Congress

Question 8

In what decade was the first Congressional Budget?

Accepted Answer

A)  1790s 
B)  1970s 
C)  1860s 
D)  1920s 
A)  1790s 
B)  1970s 
C)  1860s 
D)  1920s

Question 9

Which of the following did the Balanced Budget and Emergency Deficit Control Act of 1985 do?

Accepted Answer

A)  Require that actual federal outlays be no greater than receipts by 1991. 
B)  Require a decline in the federal debt, at least through 1991. 
C)  Establish declining deficit targets aiming toward a balanced budget in 1991. 
D)  Create an item veto. 
A)  Require that actual federal outlays be no greater than receipts by 1991. 
B)  Require a decline in the federal debt, at least through 1991. 
C)  Establish declining deficit targets aiming toward a balanced budget in 1991. 
D)  Create an item veto.

Question 10

A continuing resolution enables an agency to:

Accepted Answer

A)  continue operations in a fiscal year, despite the fact that it overspent its appropriation for that fiscal year. 
B)  continue operations in a fiscal year, despite the fact that it overspent its appropriation for the prior fiscal year. 
C)  continue operations in a fiscal year, despite the fact that it has received no appropriation for that year. 
D)  negotiate its appropriations between the House and the Senate. 
A)  continue operations in a fiscal year, despite the fact that it overspent its appropriation for that fiscal year. 
B)  continue operations in a fiscal year, despite the fact that it overspent its appropriation for the prior fiscal year. 
C)  continue operations in a fiscal year, despite the fact that it has received no appropriation for that year. 
D)  negotiate its appropriations between the House and the Senate.

Question 11

Suppose that when he took office in January 2009, President Obama wanted to
reduce the level of spending by the Drug Enforcement Administration during
fiscal 2009. What budget procedure would allow him to do that?

Accepted Answer

A)  He had no legal way of doing this. 
B)  Executive transfers out of the Drug Enforcement Administration to the Department of Treasury Impoundment Fund 
C)  A rescission approved by Congress 
D)  None of the above 
A)  He had no legal way of doing this. 
B)  Executive transfers out of the Drug Enforcement Administration to the Department of Treasury Impoundment Fund 
C)  A rescission approved by Congress 
D)  None of the above

Question 12

Which agency is responsible for external audit of federal departments and agencies?

Accepted Answer

A)  Congressional Budget Office CBO) 
B)  Government Accountability Office GAO. 
C)  U.S. Treasury Office of Fiscal Accounts TOFA. 
D)  Shared responsibility of all three 
A)  Congressional Budget Office CBO) 
B)  Government Accountability Office GAO. 
C)  U.S. Treasury Office of Fiscal Accounts TOFA. 
D)  Shared responsibility of all three

Question 13

The growth of Federal government spending in the last 30 years is primarily due to:

Accepted Answer

A)  defense spending. 
B)  interest on the debt. 
C)  transfer payments. 
D)  education. 
A)  defense spending. 
B)  interest on the debt. 
C)  transfer payments. 
D)  education.

Question 14

Which of the following is correct about the Government Accountability Office?

Accepted Answer

A)  It prepares budgets for executive agencies under the direction of the President. 
B)  It reviews agency budget requests for the President. 
C)  It prepares audits and evaluations for the President. 
D)  It does not report to the President. 
A)  It prepares budgets for executive agencies under the direction of the President. 
B)  It reviews agency budget requests for the President. 
C)  It prepares audits and evaluations for the President. 
D)  It does not report to the President.

Question 15

Which of the following is a means-tested entitlement program?

Accepted Answer

A)  Medicare 
B)  Medicaid 
C)  Social Security 
D)  Temporary Assistance for Needy Families TANF. 
A)  Medicare 
B)  Medicaid 
C)  Social Security 
D)  Temporary Assistance for Needy Families TANF.

Question 16

The most recent presidential budget that was presented to Congress with a planned surplus was presented by what President?

Accepted Answer

A)  George W. Bush 
B)  Reagan 
C)  Nixon 
D)  Clinton 
A)  George W. Bush 
B)  Reagan 
C)  Nixon 
D)  Clinton

Question 17

The consequences of legislation enacted to cancel budget authority previously provided by Congress before the time when the authority would otherwise lapse i.e., cease to be available for obligation) is called:

Accepted Answer

A)  impoundment. 
B)  deferral. 
C)  rescission. 
D)  sequestration
e. None of the above. 
A)  impoundment. 
B)  deferral. 
C)  rescission. 
D)  sequestration
e. None of the above.

Question 18

The Congressional Budget and Impoundment Act of 1974 had which of the following consequences?

Accepted Answer

A)  Prohibited the presidential impoundment of federal funds. 
B)  Strengthened the role of the President. 
C)  Shortened the time between presentation of the President's budget and the start of the fiscal year. 
D)  None of the above. 
A)  Prohibited the presidential impoundment of federal funds. 
B)  Strengthened the role of the President. 
C)  Shortened the time between presentation of the President's budget and the start of the fiscal year. 
D)  None of the above.

Question 19

In what quarter of what fiscal year execution phase) is the Federal government today?

Accepted Answer

A)  First quarter 201_ 
B)  Second quarter 201_ 
C)  Third quarter 201 _ 
D)  Fourth quarter 201_ 
A)  First quarter 201_ 
B)  Second quarter 201_ 
C)  Third quarter 201 _ 
D)  Fourth quarter 201_

Question 20

The Budget Control Act of 2011 did which of the following:

Accepted Answer

A)  Provided for a balanced federal budget by fiscal 2013. 
B)  Established a PAYGO system for all federal tax and expenditure proposals. 
C)  Increased the federal debt ceiling. 
D)  Required that federal entitlement programs be reduced by 5 percent for the next three years. 
A)  Provided for a balanced federal budget by fiscal 2013. 
B)  Established a PAYGO system for all federal tax and expenditure proposals. 
C)  Increased the federal debt ceiling. 
D)  Required that federal entitlement programs be reduced by 5 percent for the next three years.

Impoundment occurs during which stage of the budget process?

Which statement about federal mandatory spending is accurate?

Which of the following would reduce the level of the net debt of the federal government?

The PAYGO budget requirement means:

Which of the following categories of federal government spending is the largest?

Which of the following is not discretionary spending under the rules of BEA90?

Which of the following best describes the Congressional Budget resolution?

In what decade was the first Congressional Budget?

Which of the following did the Balanced Budget and Emergency Deficit Control Act of 1985 do?

A continuing resolution enables an agency to:

Suppose that when he took office in January 2009, President Obama wanted to reduce the level of spending by the Drug Enforcement Administration during fiscal 2009. What budget procedure would allow him to do that?

Which agency is responsible for external audit of federal departments and agencies?

The growth of Federal government spending in the last 30 years is primarily due to:

Which of the following is correct about the Government Accountability Office?

Which of the following is a means-tested entitlement program?

The most recent presidential budget that was presented to Congress with a planned surplus was presented by what President?

The consequences of legislation enacted to cancel budget authority previously provided by Congress before the time when the authority would otherwise lapse i.e., cease to be available for obligation) is called:

The Congressional Budget and Impoundment Act of 1974 had which of the following consequences?

In what quarter of what fiscal year execution phase) is the Federal government today?

The Budget Control Act of 2011 did which of the following:

Fundamental Principles of Public Finance

The Logic of the Budget Process

Federal Budget Structures and Institutions

State and Local Governments

Budget Classifications, Systems, and Reform: Trying to Make Better Choices

Capital Budgeting, Time Value of Money, and Cost-Benefit Analysis: Process, Structure, and Basic Tools

Taxation: Criteria for Evaluating Revenue Options

Major Tax Structures: Income Taxes

Major Tax Structures: Taxes on Goods and Services

Major Tax Structures: Property Taxes

Revenue From User Fees, User Charges, and Sales by Public Monopolies

Revenue Forecasts, Revenue Estimates, and Tax Expenditure Budgets

Intergovernmental Fiscal Relations: Diversity and Coordination

Debt Administration

Filters

Exam 3: Budget Methods and Practices

Impoundment occurs during which stage of the budget process?

Which statement about federal mandatory spending is accurate?

Which of the following would reduce the level of the net debt of the federal government?

The PAYGO budget requirement means:

Which of the following categories of federal government spending is the largest?

Which of the following is not discretionary spending under the rules of BEA90?

Which of the following best describes the Congressional Budget resolution?

In what decade was the first Congressional Budget?

Which of the following did the Balanced Budget and Emergency Deficit Control Act of 1985 do?

A continuing resolution enables an agency to:

Suppose that when he took office in January 2009, President Obama wanted to reduce the level of spending by the Drug Enforcement Administration during fiscal 2009. What budget procedure would allow him to do that?

Which agency is responsible for external audit of federal departments and agencies?

The growth of Federal government spending in the last 30 years is primarily due to:

Which of the following is correct about the Government Accountability Office?

Which of the following is a means-tested entitlement program?

The most recent presidential budget that was presented to Congress with a planned surplus was presented by what President?

The consequences of legislation enacted to cancel budget authority previously provided by Congress before the time when the authority would otherwise lapse i.e., cease to be available for obligation) is called:

The Congressional Budget and Impoundment Act of 1974 had which of the following consequences?

In what quarter of what fiscal year execution phase) is the Federal government today?

The Budget Control Act of 2011 did which of the following:

Fundamental Principles of Public Finance

The Logic of the Budget Process

Federal Budget Structures and Institutions

State and Local Governments

Budget Classifications, Systems, and Reform: Trying to Make Better Choices

Capital Budgeting, Time Value of Money, and Cost-Benefit Analysis: Process, Structure, and Basic Tools

Taxation: Criteria for Evaluating Revenue Options

Major Tax Structures: Income Taxes

Major Tax Structures: Taxes on Goods and Services

Major Tax Structures: Property Taxes

Revenue From User Fees, User Charges, and Sales by Public Monopolies

Revenue Forecasts, Revenue Estimates, and Tax Expenditure Budgets

Intergovernmental Fiscal Relations: Diversity and Coordination

Debt Administration

Filters