AGA AGA-CGFM Online Practice Questions and Exam Preparation

AGA AGA-CGFM Online Questions & Answers

• Question 121:

  Federal and local Governments raise funds from________________ respectively.

  A. Tax-exempt Bonds and Bank Loans
  B. Bank Loans and Bonds
  C. International Market Investments and MNCs Capital Funding
  D. Foreign Reserves, Local Reserves
  A. Tax-exempt Bonds and Bank Loans

• Question 122:

  The Unites Way receives $1,500,000 in funds in a lump sum at the beginning of the year and has constant cost and predictable annual cash outlays. Eight percent is estimated to be earned at securities with each security transaction costing $40 plus 0.5 percent of the dollar amount received. What will be the optimum security scale using Baumol Model?

  A. $38700
  B. $38730
  C. $38830
  D. None of these
  B. $38730

• Question 123:

  The most politically sensitive budgetary decisions for government board members center on:

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

• Question 124:

  Fund-level financial statements are prepared to present:

  A. both a short and long term perspective on governmental finances.
  B. information on financing activities.
  C. information that is more narrowly focused than mandated by government standards.
  D. a detailed short term view of government services.
  D. a detailed short term view of government services.

• Question 125:

  Perils, losses, property, source of liability, and people, Indemnity, Exclusions, Definitions and conditions are:

  A. Insurance declarations
  B. Insuring agreements
  C. Insurance policies
  D. None of these
  B. Insuring agreements

• Question 126:

  The performance auditor has input into the work plan, prioritizing projects based on:

  A. Legal mandates
  B. Risk and exposure
  C. Absence of performance and information
  D. All of these
  D. All of these

• Question 127:

  The _____________

  1.Renders an opinion as to whether the bonds are tax exempt.

  2.Deter-mines whether a governments has legal authority to issue the bonds.

  3.Drafts the bonds resolution the ordinance, and notice of election; and

  4.Reviews the bidding information given to underwriter.

  A. Underwriter syndicate
  B. Bond counsel
  C. Financial adviser
  D. None of these
  B. Bond counsel

• Question 128:

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

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

• Question 129:

  Issuance of practice and consensus bulletins prepared by the AICPA's Accounting and Standard Executive Committee is done at _________ level of GAAP.

  A. 1
  B. 2
  C. 3
  D. Zero
  C. 3

• Question 130:

  Which one of the following statements is the part of practices that States regulate?

  A. Preparation of specifications
  B. Advertising the letting of contracts and Project Scheduling
  C. Minority Goals
  D. All of these
  D. All of these