Free AGA CGFM Exam Questions

Become AGA Certified with updated CGFM exam questions and correct answers

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Total 117 Questions | Updated On: Mar 25, 2025

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Question 1

When planning for local government financial statement audit, what data source should the auditor consider first?

A : government-wide financial statements

B : fund financial statements

C : reconciliations between fund financial statements

D : previous audit findings

Answer: D

Question 2

What is the formal tam for the listing and assessment of an agency's top risks?

A : risk profile

B : risk management plan

C : risk assessment

D : risk register

Answer: A

Question 3

A governmental attestation engagement may include a requirement to

A : monitor a subgrantee for compliance to the grant restrictions.

B : establish a policy concerning fraud prevention.

C : monitor purchasing card charges for compliance with travel policies.

D : review the revenue coverage requirements on outstanding bonds.

Answer: D

Question 4

Which of the following acts requires federal agencies to pay interest to state government funds for entitlements that are not provided in a timely manner?

A : Debt Collection Improvement Act

B : CFO Act

C : Accountability for Tax Dollars Act

D : Cash Management Improvement Act

Answer: D

Question 5

What is the formal tam for the listing and assessment of an agency's top risks?

A : risk profile

B : risk management plan

C : risk assessment

D : risk register

Answer: A

Page: 1 / 24

Total 117 Questions | Updated On: Mar 25, 2025

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