AGA Exam CGFM Topic 1 Question 68 Discussion

Actual exam question for AGA's CGFM exam

Question #: 68
Topic #: 1

[All CGFM Questions]

A federal government agency that expends beyond its appropriation is in violation of the

AFederal Managers' Financial Integrity Act.

BFederal Financial Management Improvement Act.

CAntideficiency Act.

DSarbanes-Oxley Act.

Show Suggested Answer

Suggested Answer: C

Antideficiency Act Overview:

The Antideficiency Act (31 U.S.C. 1341, 1342, 1517) prohibits federal agencies from:

Obligating or expending funds in excess of their appropriations.

Entering into contracts without sufficient appropriated funds.

Violating the Act is a serious matter, and agencies are required to report such violations to Congress and the President.

Explanation of Answer Choices:

A . Federal Managers' Financial Integrity Act: Incorrect. This Act requires agencies to assess internal controls, not monitor appropriations.

B . Federal Financial Management Improvement Act: Incorrect. This Act focuses on improving financial systems, not budgetary compliance.

C . Antideficiency Act: Correct. This Act directly prohibits expenditures beyond appropriations.

D . Sarbanes-Oxley Act: Incorrect. This Act applies to corporate financial reporting, not federal appropriations.

Antideficiency Act (31 U.S.C. 1341, 1342, 1517).

GAO, Principles of Federal Appropriations Law.

by Donte at Mar 22, 2025, 06:45 PM

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Dean

4 days ago

Ah, the Antideficiency Act. The government's version of 'Sorry, your card's been declined.'

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Mozell

7 days ago

Gotta be the Antideficiency Act. It's the financial equivalent of that teacher who always said 'No, you can't do that.' Keeps the bureaucrats in line, you know?

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Huey

8 days ago

Definitely the Antideficiency Act. It's like the financial bouncer, keeping the feds from partying too hard with the public's dough.

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Brandon

13 days ago

C is the way to go. The Antideficiency Act is the one that puts the smackdown on agencies that try to exceed their budget. Can't have them going all 'Brewster's Millions' with our hard-earned cash.

upvoted 0 times

Tabetha

9 days ago

C is the way to go. The Antideficiency Act is the one that puts the smackdown on agencies that try to exceed their budget. Can't have them going all 'Brewster's Millions' with our hard-earned cash.

upvoted 0 times

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