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CGFM Latest Exam Labs - Latest CGFM Demo

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Certification Path of AGA CGFM: Certified Government Financial Manager (CGFM) Exam

The CGFM is an authoritative and closed book test, given exclusively online and to all other platforms, as well as those involved in fourth-year educational programs. The four-hour evaluation includes a broad variety of CGFM exam dumps training courses that may be used to arrange multiple tests in their businesses across a whole house of screening window. Saturday is now an option for others in an effort to increase flexibility. The assessment vendor will provide technical assistance on midweek as well as on Saturdays during the screenings house window. The test is conducted by experts whose objective is to help the AGA Institute to verify that all examiners are examined on comparable issues. Educating directors to supervise chosen providers and also exclude themselves as providers. (Projectors are usually the administrative assistant or fellowship planner of the program.) Doctors are not allowed to serve as proctors. The AGA Institute will definitely give comprehensive details on programs to be used in carrying out the test in the administrative manual. The CGFM is produced by subject-matter experts who make up the CGFM Subcommittee of the AGA Institute. The Subcommittee monitors the test product and keeps an eye on it. The panel is supported by many additional volunteer doctors at the AGA Institute. All evaluation questions are evaluated in many stages before being approved for examination. CGFM has been created in conjunction with the University of Michigan, Department of Medical Education and Learning.

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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AGA Certified Government Financial Manager (CGFM) Sample Questions (Q11-Q16):

NEW QUESTION # 11
Planning to support ongoing financial operations in the event of a natural disaster is based on the assumption that

A. there may be no warning of the potential emergency.
B. government agencies will need to operate as standalone organizations.
C. leadership and staff will reconvene at an alternate location.
D. a fully redundant infrastructure will be available to staff at an alternate location.

Answer: A

Explanation:
* Assumptions in Disaster Planning:
* Financial continuity planning for natural disasters must account for scenarios where the event occurs suddenly and without warning.
* This assumption ensures that governments are prepared to quickly resume critical financial operations even under challenging and unpredictable circumstances.
* Explanation of Answer Choices:
* A. Leadership and staff will reconvene at an alternate location: While this is part of disaster planning, it is not the primary assumption.
* B. A fully redundant infrastructure will be available to staff at an alternate location: This may not always be realistic or feasible.
* C. There may be no warning of the potential emergency: Correct. Disaster planning assumes that emergencies can occur without prior notice.
* D. Government agencies will need to operate as standalone organizations: This is not a standard assumption in disaster planning.
References:
* FEMA,Continuity Guidance Circular.
* GAO,Disaster Resilience and Continuity Planning.

NEW QUESTION # 12
The city of Mudville uses 1600 oil filters annually. The cost of placing an order is $5.00. The unit cost is $3.50.
The carrying cost is 20 percent, and the carrying cost per unit is &0.70(0.20x$3.50). And, there are 255 working days per year, and each order requires three working days of lead time. What is the reorder point?

A. 0
B. 1
C. 2
D. 3

Answer: C

NEW QUESTION # 13
The first step in investment management is to

A. establish criteria for divesting.
B. ensure all employees understand their investment options.
C. develop an investment policy manual.
D. develop a consensus among managers of the investment objectives.

Answer: D

Explanation:
Investment Management Basics:The first step in investment management is establishing theobjectivesof the investment program. This requires consensus among key stakeholders, such as managers, on what the investment goals are (e.g., risk tolerance, return expectations, liquidity needs).
* Without clear objectives, subsequent steps like developing policies or selecting investments cannot be effectively carried out.
Why Consensus Is Important:
* Investment objectives must align with the organization's mission, risk tolerance, and financial goals.
* Consensus ensures that all managers are on the same page before developing specific strategies or policies.
Why Other Options Are Incorrect:
* A. Ensure employees understand their investment options:Employee understanding is not the first step; it comes later when the investment strategy is implemented.
* C. Develop an investment policy manual:This happens after the objectives have been established.
* D. Establish criteria for divesting:Divestment criteria are part of the investment policy and are determined later.
References and Documents:
* GAO Financial Management Guide:Highlights setting objectives as the first step in investment management.
* COSO Framework for Investment Risk Management:Stresses the importance of aligning objectives before policy development.

NEW QUESTION # 14
This exhibit shows that management should give thoughts to its coding system. A coding system structure with too many accounts is redundant but a too-abbreviated system does not sufficiently permit cost performance evaluation. Minimally organizations should budget by:

A. Object of experiment
B. Funds
C. Funds, Department and Object expenditure
D. department

Answer: C

NEW QUESTION # 15
"A cash received as a loan is shown as revenue not as a liability, on the balance sheet. To correct for such cases, most cash accounting systems recognize not only cash but also other assets and liabilities arising through prior cash transactions. This adjustment, though, does not alter the fact that outstanding obligations have been incurred but not accounted for, thus overstating the available balance." This is an example of possible mishandlings after the selection of .

A. Modified basis of accounting
B. Cash basis of accounting
C. None of these
D. Accrual basis of accounting

Answer: B

NEW QUESTION # 16
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