TOPIC: Approval after planning and before executing

Hi all,
Does the project manager need approval before executing and after planning?
As per Task 11 in planning in the exam outline it says:
"Present the project management plan to the relevant stakeholders according to applicable
policies and procedures in order to obtain approval to proceed with project execution."
This shall be approved by sponsor and stakeholders? or only stakeholders?
I think sponsor approval is required also as the budget is determined in the planning,

Other than Project charter and before project management plan, will sponsor approval be required?

It will depend on your internal processes, but yes, generally the plan is taken to the Project Board or steering group and the sponsor to gain approval to proceed.