COMPLETE STUDY GUIDE YOUR ULTIMATE COMPANION FOR CGFM PREP

Complete Study Guide your ultimate companion for CGFM Prep

Complete Study Guide your ultimate companion for CGFM Prep

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To keep the CGFM practice questions in AGA PDF format up to date, we regularly update them to according to changes in the real CGFM exam content. This dedication to keep Certified Government Financial Manager (CGFM) (CGFM) exam questions relevant to the CGFM actual test domain ensures that customers always get the most up-to-date AGA CGFM questions from ExamBoosts.

The CGFM Exam consists of three separate exams, each of which covers a different aspect of government financial management. The first exam covers government accounting, financial reporting, and budgeting. The second exam covers government financial management and control, while the third exam covers government financial management and reporting.

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The Certified Government Financial Manager (CGFM) program is a professional designation offered by the Association of Government Accountants (AGA). The program is designed to recognize individuals who have demonstrated their proficiency in the field of government financial management. The CGFM program is open to anyone who is interested in pursuing a career in government financial management, including financial managers, accountants, auditors, budget analysts, and other professionals who work in government finance.

The Certified Government Financial Manager (CGFM) certification is a well-respected designation in the field of government financial management. Certified Government Financial Manager (CGFM) certification is designed for individuals who wish to demonstrate their expertise in government financial management to their employers, colleagues, and clients. The AGA CGFM Certification is recognized as the gold standard in government financial management and is nationally accredited by the National Commission for Certifying Agencies.

AGA Certified Government Financial Manager (CGFM) Sample Questions (Q67-Q72):

NEW QUESTION # 67
GPRA requires agencies to prepare and submit a strategic plan, an annual performance plan and

  • A. a SEA report.
  • B. the prior year's audited financial report.
  • C. an annual performance report.
  • D. a five-year performance plan.

Answer: C

Explanation:
What Does GPRA Require?TheGovernment Performance and Results Act (GPRA)mandates that federal agencies prepare:
* Astrategic planoutlining long-term goals.
* Anannual performance plandetailing the objectives and performance measures for the upcoming year.
* Anannual performance reportevaluating the agency's success in meeting the goals outlined in the annual performance plan.
Why Is the Annual Performance Report Important?
* The annual performance report provides accountability and transparency by comparing actual results to planned goals. It allows Congress and the public to assess how effectively the agency is achieving its mission.
Why Other Options Are Incorrect:
* A. A five-year performance plan:GPRA requires a strategic plan (updated every four years), not a separate five-year performance plan.
* C. SEA Report:This refers to Service Efforts and Accomplishments reporting, which is not mandated by GPRA.
* D. The prior year's audited financial report:While financial reports are important, they are separate from the performance reporting requirements of GPRA.
References and Documents:
* Government Performance and Results Act (1993):Requires agencies to submit strategic plans, annual performance plans, and annual performance reports.
* GAO Reports on GPRA Compliance:Emphasizes the role of annual performance reports in promoting accountability.


NEW QUESTION # 68
A state legislature wants to determine if the non-profit agency that received revenue from personalized license plates fees used the money appropriately. To make this assessment the legislature should request:

  • A. an attestation.
  • B. an internal control review.
  • C. a financial audit.
  • D. a performance audit.

Answer: D


NEW QUESTION # 69
Which one of the following is not the type of debt financing?

  • A. Go bonds
  • B. Special obligation bonds
  • C. Revenue bonds
  • D. None of these

Answer: D


NEW QUESTION # 70
aims to beat the average market rate of
In contrast to ,
return.

  • A. Cash horizon, match disbursements
  • B. Active investment, match disbursements
  • C. Active investing, passive investment management
  • D. Passive investment management active investing

Answer: D


NEW QUESTION # 71
_______________ had separate principles for ___________________ in the past.
I. Colleges and universities
II. Hospital and health -care entities
III. Voluntary health and welfare organization
IV. Nonprofit organization

  • A. State Government
  • B. Non-profit Organization
  • C. Local Government
  • D. Federal Government

Answer: B


NEW QUESTION # 72
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