The CGFM consists of 115 questions, you have 2 hours 15 minutes to complete. The exam consists of the five sections listed below.
- I: Financial Management Functions (30%)
- II: Demonstrate an Understanding of Financial and Managerial Analysis Techniques, Including: (10%)
- III: Internal Control (25%)
- IV: Demonstrate an Understanding of Performance Measurement/Metrics/Service Efforts and Accomplishments (SEA), Including: (15%)
- V: Auditing (20%)
Certified Government Financial Manager (CGFM) Exam - Sample
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Question 1 of 10
The purpose of a performance management system is to...CorrectIncorrect
Question 2 of 10
Which item is included in the permanent fund of a government?CorrectIncorrect
Question 3 of 10
What set of standards is used when performing financial and performance audits of governmental agencies?CorrectIncorrect
Question 4 of 10
According to Government Performance and Results Act guidelines, which of the following components is not included in a performance plan?CorrectIncorrect
Question 5 of 10
How do Performance and Accountability Reports ensure the integrity of an agency's financial statements and the federal budget?CorrectIncorrect
Question 6 of 10
Why is it important that financial management systems be monitored on a regular and ongoing basis?CorrectIncorrect
Question 7 of 10
Typically, which type of budget will be in effect the longest?CorrectIncorrect
Question 8 of 10
Which of the following decisions is most likely to be made during the programming phase?CorrectIncorrect
Question 9 of 10
Which body defines GAAP foar state and local government?CorrectIncorrect
Question 10 of 10
Which of the following is least supported through financial accounting?CorrectIncorrect