CGFM Sample Questions - Aga Valid Test Certified Government Financial Manager CGFM Fee.Html/?Fd=AHR0CDovL3D3Dy5KZWxldi5HdC9PbmRleC5WaHA= - Delev

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CGFM PDF DEMO:

QUESTION NO: 1
GAAP do not specify how much fund balance to set aside, but the_ recommends that local governments maintain a reserve of (1) 5% to 15% of general fund reserves or (2) at least 1-2 months general fund operating expenditures.
A. State bank
B. Federal reserves Board
C. GFUA (Government Finance officers Association)
D. All of there
Answer: C

QUESTION NO: 2
The most politically sensitive budgetary decisions for government board members center on:
A. How much to hold in reserve for emergencies
B. Tax and user free rates
C. Whether to adopt a strategic plan
D. All of there
Answer: B

QUESTION NO: 3
The feasibility study assures investors and rating agencies necessary and fiscally sound.
Consulting engineers are compensated in following ways:
A. All of these
B. A percentage of construction costs, the percentage being based on a scale of civil engineers
C. Cost-plus-fixed-fee basis when a project is not
D. A lump-sum payment when a project is clearly defined
Answer: A

QUESTION NO: 4
A Stabile economy is defined as?
I. An equilibrium in the international balance of payments
II. Full employment
III. Economist growth
IV. Frequent changes in Price
A. Only I, II
B. I, III, IV
C. All of there
D. All EXCEPT IV
Answer: D

QUESTION NO: 5
An audit tool used to examine financial data to detect fraud is:
A. regression analysis.
B. red flag detection.
C. compiling data.
D. data mining.
Answer: D

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Updated: May 24, 2022