AGA CGFM Actual Free Exam Questions & Community Discussion

Exam Code/Number: CGFM
Exam Name/Title: Certified Government Financial Manager (CGFM)
Certification Provider: AGA
Corresponding Certification: AGA CGFM

Exam Questions: 115
Updated On: Jul 14, 2026

Question #28

A city parks department is selecting a contractor to renovate a community playground. Which of the following contractors should be selected?

A. The contractor with the lowest bid who has a history of delayed projects.

B. The contractor whose bid was submitted past the deadline but offers a discount for early payment.

C. The contractor with the highest bid, who includes luxury, non-requested upgrades to the design.

D. The contractor with the second-lowest bid, who has no prior violations and meets all bid specifications.

Discussion 0

Correct Answer: D Vote an answer

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Question #29

Earned value management is preferred over traditional project management because

A. earned value management is used to monitor progress and deliverables of smaller projects.

B. traditional project management provides information about status of deliverables, funds and time expended.

C. traditional project management is used to monitor progress and deliverables of larger projects.

D. earned value management provides information about status of deliverables, funds and time expended.

Discussion 0

Correct Answer: D Vote an answer

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Question #30

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

A. leadership and staff will reconvene at an alternate location.

B. there may be no warning of the potential emergency.

C. a fully redundant infrastructure will be available to staff at an alternate location.

D. government agencies will need to operate as standalone organizations.

Discussion 0

Correct Answer: B Vote an answer

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Question #31

Simplified acquisition processes assist an agency by

A. maintaining the competitive bid requirement and allowing credit card purchases.

B. increasing the number of requisitions processed.

C. providing access to bulk purchase discounts and reducing administrative costs.

D. reducing acquisition staff and managerial oversight.

Discussion 0

Correct Answer: C Vote an answer

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Question #32

To support optimal cash management vendor payment procedures, invoices with discount terms should be paid

A. prior to the due date to improve credit rating.

B. on the due date, unless a charge is assessed for late payment.

C. after the due date to increase cash flow.

D. on the discount date.

Discussion 0

Correct Answer: D Vote an answer

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Question #33

Based on the data below, what can be concluded about outsourcing print job?

A. Outsourcing printing is necessary.

B. It is better to keep the printing in-house.

C. Outsourcing printing is feasible.

D. ABC Printing should be awarded the outsourcing contract.

Discussion 0

Correct Answer: C Vote an answer

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Question #34

Performance measures that relate program inputs to program outcomes are called

A. efficiency measures.

B. cost-effectiveness measures.

C. activity measures.

D. process measures.

Discussion 0

Correct Answer: B Vote an answer

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Question #35

What is the most fupdamental cash control?

A. segregation of duties

B. analysis of cash reports

C. use of automated systems

D. frequent reconciliation of bank accounts

Discussion 0

Correct Answer: D Vote an answer

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Question #36

A state agency has begun a pilot program with a community action agency for a community-based approach to provide services to underserved areas. A review after the first year compared the number of families served by both agencies and identified efficiencies reached by having community involvement. What type of engagement was used to review the pilot program?

A. attestation

B. financial audit

C. performance audit

D. single audit

Discussion 0

Correct Answer: C Vote an answer

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