Certified Government Financial Manager (CGFM) [cgfm-exam]

Question 1

Every employee should have a personnel file that contains documentation for their hiring, a history of their pay, the number of hours they are authorized to work, federal and state withholding forms, information about their health insurance and retirement benefits, and documentation for any other payout deductions. There are the following steps:

Federal government payroll system Both Cash Disbarments in payroll department and Separation of duties in a small of government Separation of duties in a small of government Cashed Disbursement in payroll department

Correct Answer:

Both Cash Disbarments in payroll department and Separation of duties in a small of government

Question 2

The accounting for managing investment inventory, disbursing cash, managing cash, and billing and receiving taxes and utilities should all be subject to the same accounting controls. Which of the following other internal control measures is effective?

Trusting employees too much Cancel voided forms Account for used or missing forms daily All of there

Correct Answer:

All of there

Question 3

For members of government boards, the following financial decisions are the most politically delicate:

All of there Whether to adopt a strategic plan How much to hold in reserve for emergencies Tax and user free rates

Correct Answer:

Tax and user free rates

Question 4

For $91,000, a city purchases a T-bill with a face value of $10,000. The note becomes due in 91 days. How much was produced?

87.07% 8.007% 8.07% 8.70%

Correct Answer:

8.07%

Question 5

What is a stable economy defined as? I. An equilibrium in the international balance of payments II. Full employment III. Economist growth IV. Frequent changes in Price

All except IV All of there Only I, II I, III, IV

Correct Answer:

All except IV

Question 1

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About this Exam

Prepare with the Certified Government Financial Manager (CGFM) [cgfm-exam] practice quiz. This question bank includes 115 questions covering government, financial, federal, accounting, and governmental. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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Certified Government Financial Manager (CGFM) [cgfm-exam]

This practice set contains 115 questions from the matching question bank and focuses on government, financial, federal, accounting, and governmental. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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About this Exam

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Certified Government Financial Manager (CGFM) [cgfm-exam]

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