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Online CGFM Test | Reliable CGFM Exam Book

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itPass4sure Certified Government Financial Manager (CGFM) (CGFM) practice test software is another great way to reduce your stress level when preparing for the AGA Exam Questions. With our software, you can practice your excellence and improve your competence on the AGA CGFM Exam Dumps. Each AGA CGFM practice exam, composed of numerous skills, can be measured by the same model used by real examiners.

AGA CGFM Exam consists of three separate sections that test the candidate's knowledge in financial management, government accounting and financial reporting, and budgeting and financial analysis. Each section of the exam must be passed with a score of at least 80% to earn the CGFM designation. Certified Government Financial Manager (CGFM) certification also requires a minimum of two years of professional experience in government financial management, as well as continuing education and adherence to the CGFM Code of Ethics.

AGA Certified Government Financial Manager (CGFM) Sample Questions (Q61-Q66):

NEW QUESTION # 61
The indenture includes all these covenants that protect the beholder EXCEPT:

A. Rate covenant
B. Flow of funds covenant
C. none of these
D. Debt service reserve covenant

Answer: C

NEW QUESTION # 62
The risk manager compiles:

A. A five-year history of paid and self-insured losses
B. Summarizing the number and types of losses
C. Frequency and severity of risks
D. Only A & B

Answer: D

NEW QUESTION # 63
The intended purpose of The Single Audit Act is to:

A. help states schedule federal audits on a grant-by-grant basis.
B. improve financial management of state financial programs.
C. promote cooperation between auditors.
D. perform audits under FASAB standards.

Answer: C

NEW QUESTION # 64
Performance measures that relate program inputs to program outcomes are called

A. process measures.
B. activity measures.
C. cost-effectiveness measures.
D. efficiency measures.

Answer: C

Explanation:
* Definition of Cost-Effectiveness Measures:
* Cost-effectiveness measures assess therelationship between inputs (resources used)and outcomes (results achieved)to determine whether a program delivers value for the resources invested.
* Explanation of Answer Choices:
* A. Efficiency measures: Incorrect. These relate inputs to outputs, focusing on how efficiently resources are used to produce services, but not directly tied to outcomes.
* B. Process measures: Incorrect. These measure activities or steps within a program but do not assess outcomes.
* C. Cost-effectiveness measures: Correct. These directly link inputs to outcomes, measuring the program's effectiveness in achieving its objectives relative to costs.
* D. Activity measures: Incorrect. These track the level of activity or effort but not outcomes or effectiveness.
References:
* GASB,Performance Measurement and Reporting for Government Programs.
* GAO,Best Practices in Measuring Program Effectiveness.

NEW QUESTION # 65
Issuance of practice and consensus bulletins prepared by the AICPA's Accounting and Standard Executive Committee is done at level of GAAP.

A. 0
B. 1
C. 2
D. Zero

Answer: B

NEW QUESTION # 66
......

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Grant Reed Grant Reed

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