CGFM Certified Government Financial Manager
Last Update Sep 23, 2025
Total Questions : 115
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GPRA requires agencies to prepare and submit a strategic plan, an annual performance plan and
Earned value management is preferred over traditional project management because
If a state treasurer wants to evaluate a variety of alternative long-term investments, which financial analysis should
be used?
The legislation that expanded the requirements of audits to virtually all federal agencies is the
Based on the data below, what can be concluded about outsourcing print job?
A performance measurement that is measured the same way over several periods is
А.timely.
B.relevant.
C.reliable.
D. consistent.
In the context of audit risk, which type of risk is primarily influenced by the effectiveness of an organization's internal
controls?
A sound investment category for pension funds that can be easily valued is
In addition to the Yellow Book, which group's external audit standards can the GAO reference?
An agency uses pavement rating scores as a key indicator for a street maintenance program. If the legislature provided the agency with
an additional $5 millionjthe new resources should be allocated based upon
In relation to financial reporting, who evaluates internal controls to support an opinion on a fair presentation of the financial statements?
Entity management's appointment of a senior official to ensure the resolution of audit recommendations is a
demonstration of management's
According to OMB Circular A-50, who holds personal responsibility for ensuring that disagreements with audit
findings and recommendations are resolved?
The Federal Credit Reform Act requires complex calculations, which are likely to include errors. This is an example of
When planning for local government financial statement audit, what data source should the auditor consider first?
For financial audits, generally accepted auditing standards require that auditors accomplish all of the following tasks EXCEPT
If a CGFM wants to utilize data on population growth, housing and employment to estimate sales tax revenue, the CGFM should use
Performance measures that relate program inputs to program outcomes are called
Which of the following includes the aggregate level and types of risks that the organization is willing to assume in
order to achieve its Strategic objectives?
Which of the following statements from an audit finding is the condition?
Management shoulg consider the cost of internal controls in relationship to
The value, in current dollars, of a sum of money to be received in the future describes
A payback value.
B. present value.
C. annuity value.
D. future value.
An evaluation of anggntity’s single year financial statements would use which of the following analyses?
The Parking Fund for a government entity has the following information in its Statement of Net Position. Calculate the current ratio.
Total current assets$1,320
Total non-current assets$8,100
Total assets$9,420
Total current liabilities$ 810
Total non-current liabilities$ 360
Total liabilities$1,170
Total net position$8,250
Which of the following disbursement techniques can be used to ensure timely payments?
TESTED 23 Sep 2025
