Free Practice AGA CGFM Exam Questions 2025

Stay ahead with 100% Free Certified Government Financial Manager CGFM Dumps Practice Questions

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Total 117 Questions | Updated On: Apr 23, 2025

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Question 1

Government entity SEA reporting provides users of general purpose financial reports with an

A : evaluation of the effects of changes in public policy.

B : assessment of financial condition and results of operations.

C : assessment of the accountability of the public administrators.

D : evaluation of the efficiency and effectiveness of governmental programs.

Answer: D

Question 2

A capital asset transferred to another department within the same government should be

A : recorded with the original department to maximize receipts.

B : recorded with the second department to minimize costs.

C : retained in the government's fixed asset tracking system with no change in book value to either department.

D : retained in the government's fixed asset tracking system showing the book value of the asset transferred to the receiving department.

Answer: D

Question 3

Management shoulg consider the cost of internal controls in relationship to

A : the available budget.

B : inherent risks.

C : benefits provided.

D : risk of collusion.

Answer: C

Question 4

What is the formal tam for the listing and assessment of an agency's top risks?

A : risk profile

B : risk management plan

C : risk assessment

D : risk register

Answer: A

Question 5

A governmental attestation engagement may include a requirement to

A : monitor a subgrantee for compliance to the grant restrictions.

B : establish a policy concerning fraud prevention.

C : monitor purchasing card charges for compliance with travel policies.

D : review the revenue coverage requirements on outstanding bonds.

Answer: D

Page: 1 / 24

Total 117 Questions | Updated On: Apr 23, 2025

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