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Latest CGFM Test Labs | Hot CGFM Spot Questions

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The CGFM program is comprised of three exams that cover a range of topics related to government financial management. These exams include Governmental Environment, Governmental Accounting, Financial Reporting and Budgeting, and Governmental Financial Management and Control. The program is designed to provide individuals with the knowledge and skills they need to succeed in a career in government financial management. The CGFM designation is highly respected in the field and is recognized by employers across the country as a mark of excellence in government financial management.

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Hot AGA CGFM Spot Questions & Exam CGFM Question

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The CGFM certification is an important credential for professionals working in government financial management. It demonstrates a commitment to excellence and a mastery of the knowledge and skills required to succeed in this field. The AGA offers a variety of resources to help individuals prepare for the CGFM Certification Exam, including study guides, practice exams, and training courses. With the CGFM certification, professionals can enhance their career opportunities and make a meaningful contribution to the field of government financial management.

AGA Certified Government Financial Manager (CGFM) Sample Questions (Q10-Q15):

NEW QUESTION # 10
In claim management, insurance policies should specify what should be reported, including the nature of the alleged wrongful act, the alleged damages, and the names of claimants. Which of the following steps is included in this?

A. Take snapshots of the area, if possible
B. All of these
C. Record the names, addresses, and phone numbers of all involved in the incident.
D. Express concern for the individual, but not offer to pay any damages

Answer: B

NEW QUESTION # 11
Enterprise funds and internal service funds are the two types of _.

A. Capital project Funds
B. Proprietary Funds
C. Permanent Funds
D. Debt Service Funds

Answer: B

NEW QUESTION # 12
A successfully integrated technology solution for a CFO ties an organization's activities together and:

A. eliminates waste, fraud and abuse.
B. requires highly customized application software.
C. makes consistent information available agency-wide.
D. optimizes a specific function or activity.

Answer: C

Explanation:
Explanation/Reference:

NEW QUESTION # 13
One of the minimum components of a government financial system is

A. debt-reduction analysis.
B. general ledger account definition.
C. automated transaction processing.
D. performance management reporting.

Answer: B

Explanation:
* Minimum Components of a Government Financial System:
* A general ledger is the foundation of any financial system, providing a complete record of all financial transactions.
* The definition ofgeneral ledger accountsensures proper classification, tracking, and reporting of financial activities.
* Explanation of Answer Choices:
* A. Automated transaction processing: Incorrect. While automation is beneficial, it is not a
"minimum" requirement. Manual systems can still exist.
* B. Debt-reduction analysis: Incorrect. This is a financial management activity, not a core component of the financial system.
* C. Performance management reporting: Incorrect. Performance reporting is separate from the foundational financial system.
* D. General ledger account definition: Correct. This is a fundamental element of any government financial system.
References:
* GAO,Standards for Internal Control in the Federal Government (Green Book).
* GASB,Codification of Governmental Accounting and Financial Reporting Standards.

NEW QUESTION # 14
A formal estimate of the resources a government or government unit plans to expend in a given period is a:

A. cost benefit analysis.
B. CAFR.
C. budget.
D. PAR.

Answer: C

NEW QUESTION # 15
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