Latest CGFM Mock Exam & CGFM Exam Syllabus

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AGA CGFM Exam Syllabus & Valid Dumps CGFM Pdf

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The CGFM Exam is widely recognized as a mark of excellence in the field of government financial management. It is designed to test the knowledge, skills, and abilities of individuals who work in this field, and to ensure that they have the expertise and knowledge needed to perform their jobs effectively.

AGA Certified Government Financial Manager (CGFM) Sample Questions (Q104-Q109):

NEW QUESTION # 104
Projecting demand is relatively easy for some services. But, forecasting the need for some projects is somewhat dictated by the Insurance Service Office (ISO), which assigns rates to the concerned department upon which insurance companies set homeowners' insurance rates. For instance:

A. Fire stations
B. Water and sewer plants
C. Solid waste landfill systems
D. All of these

Answer: A

Explanation:
Explanation/Reference:

NEW QUESTION # 105
A city has an EMF of 0.80. Its premium at 1.0 would have been $10,000. Therefore, its actual premium is:

A. $8800
B. $800
C. None of these
D. $8000

Answer: D

NEW QUESTION # 106
The feasibility study assures investors and rating agencies necessary and fiscally sound.
Consulting engineers are compensated in following ways:

A. A lump-sum payment when a project is clearly defined
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. All of these

Answer: D

NEW QUESTION # 107
Government entity SEA reporting provides users of general purpose financial reports with an

A. assessment of financial condition and results of operations.
B. assessment of the accountability of the public administrators.
C. evaluation of the effects of changes in public policy.
D. evaluation of the efficiency and effectiveness of governmental programs.

Answer: D

Explanation:
* Service Efforts and Accomplishments (SEA) Reporting:
* SEA reporting is designed to providenon-financial performance informationabout the efficiency and effectiveness of government programs.
* It evaluates how well resources are being used to achieve desired outcomes, helping stakeholders assess program performance and accountability.
* Explanation of Answer Choices:
* A. Evaluation of the effects of changes in public policy: Incorrect. SEA reporting does not focus on policy changes but on program performance.
* B. Assessment of financial condition and results of operations: Incorrect. This is the role of financial statements, not SEA reports.
* C. Assessment of the accountability of the public administrators: Incorrect. While SEA reports indirectly support accountability, their main purpose is to assess program efficiency and effectiveness.
* D. Evaluation of the efficiency and effectiveness of governmental programs: Correct. This is the primary focus of SEA reporting.
References:
* GASB,Concepts Statement No. 2: Service Efforts and Accomplishments Reporting.
* GFOA,Performance Reporting in Government.

NEW QUESTION # 108
A variable that would influence management's decision to hire contractors to perform management control evaluations is

A. knowledge of systemic deficiencies.
B. suspicion of internal fraud.
C. availability of qualified contractors.
D. lack of management expertise.

Answer: D

Explanation:
Why Hire Contractors for Management Control Evaluations?Management may decide to bring in external contractors when there are gaps in the organization's capacity to perform evaluations internally. One key factor is thelack of management expertise-if management lacks the necessary knowledge or experience to evaluate controls effectively, it may outsource this task to qualified contractors.
Why Other Options Are Incorrect:
* B. Availability of Qualified Contractors:While availability is a factor, it's not a variable that influences the decision to outsource. Instead, it's a logistical consideration once the decision has been made.
* C. Suspicion of Internal Fraud:Suspicion of fraud may lead to investigations, but hiring contractors to evaluate controls is driven by expertise gaps rather than fraud concerns.
* D. Knowledge of Systemic Deficiencies:If management already has knowledge of systemic deficiencies, they may focus on remediation rather than outsourcing evaluations.
References and Documents:
* GAO Standards for Internal Control in the Federal Government (Green Book):Emphasizes the need for knowledgeable personnel to evaluate controls.
* GAGAS (Yellow Book):Highlights the role of external expertise in cases where internal expertise is insufficient.

NEW QUESTION # 109
......

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Latest CGFM Mock Exam & CGFM Exam Syllabus

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AGA Certified Government Financial Manager (CGFM) Sample Questions (Q104-Q109):

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