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AGA CGFM (Certified Government Financial Manager) Exam is a professional certification exam offered by the Association of Government Accountants (AGA). Certified Government Financial Manager (CGFM) certification is designed to recognize individuals who have a strong understanding of financial management in government organizations. The CGFM certification is recognized as a prestigious certification for financial managers in the public sector, and it is highly valued by employers in government agencies.

The CGFM Certification program is highly respected in the industry and is recognized as a mark of excellence in government financial management. By earning a CGFM certification, professionals can enhance their career prospects and demonstrate their commitment to the highest standards of ethics and professionalism in government financial management.

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The CGFM certification exam consists of three modules: Governmental Environment, Governmental Accounting, Financial Reporting and Budgeting, and Governmental Financial Management and Control. Each module covers a specific area of government financial management and is designed to test the candidate's knowledge and understanding of the subject matter. CGFM Exam is a computer-based test and can be taken at any of the approved testing centers.

AGA Certified Government Financial Manager (CGFM) Sample Questions (Q47-Q52):

NEW QUESTION # 47
An independent auditor has prepared the chart below describing the status of the audit findings requested for an agency over the past four years.

Based upon these audit findings which of the following conclusions could be drawn on the agency's internal control framework?

A. The agency is addressing audit findings appropriately.
B. Findings in year 2009 reflect policy improvement.
C. There is ineffective management of the agency.
D. The agency internal control staffing is adequate.

Answer: C

NEW QUESTION # 48
Program, Fundraising and administrative are the types of

A. None of these
B. Liabilities
C. Expense
D. Assets

Answer: C

NEW QUESTION # 49
Assume that the bank's monthly costs are $12,250, the 30-day Treasury bill rate is 10.4%, and the bank is subject to a 15% reserve requirement. What is the MCB (Minimum compensating balance)?

A. None of these
B. $142,629
C. $141,629
D. $141,529

Answer: C

NEW QUESTION # 50
The best time to purchase the securities is:

A. None of these
B. High end of their yield curve
C. Mid of the yield curve
D. Better market condition

Answer: B

NEW QUESTION # 51
The feasibility study assures investors and rating agencies necessary and fiscally sound.
Consulting engineers are compensated in following ways:

A. Cost-plus-fixed-fee basis when a project is not
B. A lump-sum payment when a project is clearly defined
C. A percentage of construction costs, the percentage being based on a scale of civil engineers
D. All of these

Answer: D

NEW QUESTION # 52
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