AGA CGFM GUIDE & NEW CGFM EXAM SIMULATOR

AGA CGFM Guide & New CGFM Exam Simulator

AGA CGFM Guide & New CGFM Exam Simulator

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Tags: CGFM Guide, New CGFM Exam Simulator, CGFM Valid Test Sims, Interactive CGFM EBook, CGFM Reliable Exam Book

These Certified Government Financial Manager (CGFM) (CGFM) practice test covers all the topics of the CGFM test and includes real CGFM questions. If you are attempting the CGFM examination for the first time, you will get an exact idea about the CGFM exam and how you can clear it with flying colors. These AGA CGFM Questions are available in desktop CGFM practice exam software, web-based CGFM practice test, and Certified Government Financial Manager (CGFM) (CGFM) dumps pdf format.

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AGA CGFM Certification Exam is offered by the Association of Government Accountants (AGA), a professional organization dedicated to advancing government financial management. The AGA CGFM program is open to individuals working in any level of government, including federal, state, and local agencies, as well as nonprofits and private companies that work with government entities. The program is recognized nationally and internationally as a leading credential in the field of government financial management.

AGA Certified Government Financial Manager (CGFM) Sample Questions (Q112-Q117):

NEW QUESTION # 112
Once the budget has been adopted, the _ executes it to ensure that legislative intent is met and the budget stays in balance.

  • A. CEO
  • B. Senior Accountant
  • C. None of these
  • D. CFO

Answer: A


NEW QUESTION # 113
Performance measures that report the results of providing goods or services are known as

  • A. activity measures.
  • B. outcome measures.
  • C. output measures.
  • D. workload measures.

Answer: C

Explanation:
* Definition of Output Measures:
* Output measures trackthe results of providing goods or services, such as the number of items produced or services delivered.
* These measures focus onquantityrather than quality or outcomes.
* Explanation of Answer Choices:
* A. Activity measures: Incorrect. Activity measures refer to inputs or processes, not results.
* B. Outcome measures: Incorrect. Outcome measures assess the impact or effectiveness of a program, not the quantity of goods/services provided.
* C. Output measures: Correct. Output measures focus on results (e.g., number of services delivered).
* D. Workload measures: Incorrect. Workload measures assess the volume of work performed but do not necessarily report on the results.
References:
* GASB,Performance Measurement Concepts.
* GAO,Performance Auditing Standards and Guidance.


NEW QUESTION # 114
Management's need for real-time access to data is facilitated when

  • A. data is represented visually and includes information that indirectly relates to the subject matter.
  • B. the prior year's financial statement data underlies the management reports used to decide on future expenditures.
  • C. complex data sets are available on demand, presented with minimal distractions.
  • D. data supporting dashboards are updated every quarter.

Answer: C

Explanation:
Why Does Management Need Real-Time Data Access?
* Real-time access to data enables managers to make timely and informed decisions.
* Complex data setspresented clearly and concisely (with minimal distractions) allow decision-makers to focus on the critical insights necessary for strategic and operational planning.
Why Is Option D Correct?
* On-demand access ensures managers can retrieve updated data whenever needed. Presenting the data in a focused and distraction-free format facilitates quick comprehension and decision-making.
Why Other Options Are Incorrect:
* A. Visual representation with indirect information:Including unrelated data can overwhelm users and detract from effective decision-making.
* B. Dashboards updated quarterly:Quarterly updates do not meet the need for real-time access.
* C. Prior year's financial data:Decisions based solely on historical data are not responsive to real-time needs.
References and Documents:
* GAO Data Analytics and Visualization Framework:Stresses the importance of real-time, actionable, and distraction-free data for decision-making.
* AICPA Dashboard Guidelines:Recommends presenting complex data sets in a clear and accessible format for management use.


NEW QUESTION # 115
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.

Answer: C

Explanation:
What Are Simplified Acquisition Processes?Simplified acquisition processes are procurement methods designed to streamline purchasing for government agencies. These processes reduce the administrative burden for smaller purchases, typically below a certain dollar threshold (as defined in theFederal Acquisition Regulation (FAR)).
How Do These Processes Assist Agencies?
* Bulk Purchase Discounts:Simplified acquisition allows agencies to leverage economies of scale and negotiate bulk purchase discounts for commonly used goods and services.
* Reduced Administrative Costs:By simplifying documentation, reducing oversight requirements, and accelerating the approval process, these methods lower administrative costs and increase efficiency.
Why Other Options Are Incorrect:
* A. Maintaining the competitive bid requirement and allowing credit card purchases:While simplified acquisitions may allow credit card purchases, the focus is not maintaining competitive bids but reducing costs and streamlining the process.
* C. Increasing the number of requisitions processed:The goal is efficiency, not increasing the volume of requisitions.
* D. Reducing acquisition staff and managerial oversight:These processes may simplify oversight but do not aim to reduce staff; instead, they help existing staff work more efficiently.
References and Documents:
* Federal Acquisition Regulation (FAR) Part 13:Covers simplified acquisition processes and their intended benefits.
* GAO Reports on Federal Procurement (2020):Highlights the cost savings and efficiencies gained through simplified acquisition methods.


NEW QUESTION # 116
and
debt issuance, governments must disclose information
regarding their debt and financial condition to the municipal securities market, including the preliminary Official Statement, the audited financial reports, the feasibility study, and other documents relating to the bond sale.

  • A. During, after
  • B. None of these
  • C. It depends
  • D. Before, after

Answer: A


NEW QUESTION # 117
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