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CGFM Reliable Test Blueprint - CGFM Reliable Test Materials

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AGA Certified Government Financial Manager (CGFM) Sample Questions (Q67-Q72):

NEW QUESTION # 67
GAAP do not specify how much fund balance to set aside, but the_________ recommends that local governments maintain a reserve of (1) 5% to 15% of general fund reserves or (2) at least 1-2 months general fund operating expenditures.

A. GFUA (Government Finance officers Association)
B. Federal reserves Board
C. All of there
D. State bank

Answer: A

NEW QUESTION # 68
Initially Line item budgets were used by the local governments but afterwards more reformed practices has taken its place and grouped its purpose. Those refined and more manageable categories are all EXCEPT:

A. Loans
B. Equipment
C. Salaries
D. Supplies

Answer: A

NEW QUESTION # 69
EFT is most widely used for direct deposit of payroll but other common applications include all of the following EXCEPT:

A. Electronic benefits transfer to recipients of the food stamp, Supplemental Security Income (SSI), Social Security, and Temporary Assistance to Needy Families (TANF) programs
B. Pension benefit payments
C. Payroll tax payments to the Internal Revenue Service
D. None of these

Answer: D

NEW QUESTION # 70
A city buys a T-bill with a face value of $10,000 for $9,800. The bill matures in 91 days. What is the yield?

A. 8.007%
B. 8.07%
C. 87.07%
D. 8.70%

Answer: B

NEW QUESTION # 71
In the collection of cash receipts, for a fee, organizations can engage a bank to provide a lock-box service.
Lockboxes may be:

A. Wholesale
B. Only A & B
C. Temporary
D. Retail

Answer: B

NEW QUESTION # 72
......

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