During 1997 March-July, XTE observed the bright, strongly variable Seyfert 1 galaxy NGC 3516 once every ~12.8 hr for 4.5 months and nearly continuously (with interruptions due to SAA passage but not Earth occultation) for a 4.2 day period in the middle. These were followed by ongoing monitoring once every ~4.3 days. These data are used to construct the first well-determined X-ray fluctuation power density spectrum (PDS) of an active galaxy to span more than 4 decades of usable temporal frequency. The PDS shows no signs of any strict or quasi-periodicity, but does show a progressive flattening of the power-law slope from -1.74 at short time scales to -0.73 at longer time scales. This is the clearest observation to date of the long-predicted cutoff in the PDS. The characteristic variability time scale corresponding to this cutoff temporal frequency is 1 month. Although it is unclear how this time scale may be interpreted in terms of a physical size or process, there are several promising candidate models. The PDS appears similar to those seen for Galactic black hole candidates such as Cyg X-1, suggesting that these two classes of objects with very different luminosities and putative black hole masses (differing by more than a factor of 10^5) may have similar X-ray generation processes and structures. ; Comment: 21 pages, incl. 5 figures, AASTeX