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Pass Guaranteed AGA CGFM Certified Government Financial Manager (CGFM) First-grade Most Reliable Questions

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The Certified Government Financial Manager (CGFM) certification is a professional credential awarded by the Association of Government Accountants (AGA) to individuals who demonstrate mastery of government financial management knowledge, skills, and competencies. The CGFM Certification Exam is designed to test the knowledge and abilities of candidates in three areas: government environment, governmental accounting, financial reporting, and budgeting, and government financial management and control.

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AGA Certified Government Financial Manager (CGFM) Sample Questions (Q90-Q95):

NEW QUESTION # 90
The best source for annual liability and cash flow data is a state's

A. ACFR.
B. statement of activities.
C. appropriations bill.
D. PAR.

Answer: A

Explanation:
* Annual Comprehensive Financial Report (ACFR):
* TheACFR(formerly CAFR) is the primary source for a state's annual financial information, including liability and cash flow data.
* It provides comprehensive financial statements, including the balance sheet, statement of activities, and cash flow statements.
* Explanation of Answer Choices:
* A. PAR: ThePerformance and Accountability Report (PAR)focuses on federal agencies and includes performance goals and achievements but lacks detailed liability and cash flow data for states.
* B. ACFR: Correct. The ACFR is the best source for detailed liability and cash flow data at the state level.
* C. Appropriations bill: Provides legislative authority for spending but does not include detailed financial data.
* D. Statement of activities: This is part of the ACFR but does not include all necessary cash flow or liability data.
References:
* Government Finance Officers Association (GFOA),Best Practices for ACFR Reporting.
* GASB,Annual Comprehensive Financial Report Guidance.

NEW QUESTION # 91
Which of the following is not included in general guidelines for a diversified investment portfolio?

A. Do not over-concentrate securities from a specific issue or business sector
B. Invest in securities that have varying maturities
C. Limited investment in securities with higher credit risk
D. never invest in readily liquid securities

Answer: D

NEW QUESTION # 92
Managerial accounting helps officials measure the cost-effectiveness of operations by:

A. demonstrating compliance with applicable laws and regulations.
B. forecasting future revenue needs.
C. controlling expenses under budgetary law.
D. combining financial and non-financial data.

Answer: B

NEW QUESTION # 93
This exhibit shows that management should give thoughts to its coding system. A coding system structure with too many accounts is redundant but a too-abbreviated system does not sufficiently permit cost performance evaluation. Minimally organizations should budget by:

A. Funds, Department and Object expenditure
B. Object of experiment
C. Funds
D. department

Answer: A

NEW QUESTION # 94
Planning to support ongoing financial operations in the event of a natural disaster is based on the assumption that

A. a fully redundant infrastructure will be available to staff at an alternate location.
B. there may be no warning of the potential emergency.
C. government agencies will need to operate as standalone organizations.
D. leadership and staff will reconvene at an alternate location.

Answer: B

Explanation:
* Assumptions in Disaster Planning:
* Financial continuity planning for natural disasters must account for scenarios where the event occurs suddenly and without warning.
* This assumption ensures that governments are prepared to quickly resume critical financial operations even under challenging and unpredictable circumstances.
* Explanation of Answer Choices:
* A. Leadership and staff will reconvene at an alternate location: While this is part of disaster planning, it is not the primary assumption.
* B. A fully redundant infrastructure will be available to staff at an alternate location: This may not always be realistic or feasible.
* C. There may be no warning of the potential emergency: Correct. Disaster planning assumes that emergencies can occur without prior notice.
* D. Government agencies will need to operate as standalone organizations: This is not a standard assumption in disaster planning.
References:
* FEMA,Continuity Guidance Circular.
* GAO,Disaster Resilience and Continuity Planning.

NEW QUESTION # 95
......

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