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Free CGFM sample questions

Real questions from the Certified Government Financial Manager practice bank, with the correct answer and an explanation for each one. No junk, no filler.

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Showing 5 of 10 free sample questions.

Question 1Choose one

A government agency's mission statement should include: A.services and accomplishments.B.organizational structure and hierarchy.C.major functions and goals.D.performance measures and reports.

Question 2Choose one

One way in which federal and state governments influence local governments is by: A.providing block grants.B.issuing ordinances.C.authorizing debt.D.setting budget authority.

Question 3Choose one

A method used to assess accountability of state agencies includes: A.a bond rating review.B.program evaluation.C.judicial review.D.an ordinance compliance audit.

Question 4Choose one

A discretionary grant is characterized by a: A.transfer of funds based upon a formula.B.transfer of funds for broadly-defined purposes.C.transfer of funds for specific purposes.D.voluntary contribution that confers no rights nor benefits to the giver.

Question 5Choose one

A formal estimate of the resources a government or government unit plans to expend in a given period is a: A.PAR.B.CAFR.C.budget.D.cost benefit analysis.

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