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The Certified Government Financial Manager (CGFM) designation is one of the most prestigious certifications for financial management professionals in the government sector. Offered by the Association of Government Accountants (AGA), this certification is designed to help individuals demonstrate their knowledge, skills and expertise in the various aspects of financial management in the public sector. The CGFM credential is recognized by employers, peers and government agencies as a mark of excellence and a commitment to high standards in government financial management.

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Cost of the AGA CGFM: Certified Government Financial Manager (CGFM) Exam

AGA CGFM: Certified Government Financial Manager (CGFM) Exam cost is $125 all over the world, however the prices of the courses varies on the basis of the local currencies of the country.

AGA Certified Government Financial Manager (CGFM) Sample Questions (Q18-Q23):

NEW QUESTION # 18
When reviewing a report on internal control from a shared service provider that noted a weakness, the agency should

A. dismiss the weakness.
B. refer the weakness to the Contracting Officer.
C. ask the service provider to correct the weakness.
D. consider the existence of compensating or mitigating controls.

Answer: D

Explanation:
* Response to Weaknesses in Shared Service Providers:
* Shared service providers often issue reports on internal controls (e.g., SOC 1 or SOC 2 reports).
* When a weakness is identified, the recipient agency must evaluate whether compensating or mitigating controls exist to address the risk, ensuring continued reliability.
* Explanation of Answer Choices:
* A. Consider the existence of compensating or mitigating controls: Correct. This is a standard response to internal control weaknesses, as outlined in auditing and risk management best practices.
* B. Ask the service provider to correct the weakness: Incorrect. While this may be appropriate, the recipient agency is ultimately responsible for evaluating and addressing the risk.
* C. Dismiss the weakness: Incorrect. Ignoring a weakness can expose the agency to risk.
* D. Refer the weakness to the Contracting Officer: Incorrect. This may be part of the process, but the agency must first assess the impact and controls.
References:
* American Institute of Certified Public Accountants (AICPA),SOC Reports Guidance.
* Government Accountability Office (GAO),Internal Control Standards for Federal Agencies.

NEW QUESTION # 19
The financial section of financial reports contains:

A. Risk analysis
B. The management's Discussion and Analysis
C. All EXCEPT "C"
D. The independent Auditors' Report

Answer: C

NEW QUESTION # 20
Credit services, Trustee and related services and investment management services are the Secondary services provided by banks.

A. True
B. It depends
C. Both A and C
D. False

Answer: A

NEW QUESTION # 21
The government finance association recommends public sale, but under which of the following condition:
I. The issue has on uninsured credit rating of A or above
II. The issue is not so large that it cannot be absorbed by the market.
III. The issue is not so small as to attract too few investors
IV. Interest rates are stable and market demand is strong
V. The market view the issue as warily complex or innovation.
VI. The issue is backed by full faith and credit or by a strong revenue system.

A. I, II, III
B. I, II, III
C. I, II, III, IV, V
D. All EXCEPT V

Answer: D

NEW QUESTION # 22
_ and the Keynesian fiscal policy
The supply side fiscal policy reduces
increases .

A. Taxes, Federal spending
B. Economic growth, Taxes
C. Economic growth, Employment rate
D. None of these

Answer: A

NEW QUESTION # 23
......

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Excellent CGFM Certification Torrent Covers the Entire Syllabus of CGFM

CGFM Reliable Test Camp - Reliable CGFM Guide Files

Cost of the AGA CGFM: Certified Government Financial Manager (CGFM) Exam

AGA Certified Government Financial Manager (CGFM) Sample Questions (Q18-Q23):

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