AGA AGA-CGFM Online Practice Questions and Exam Preparation

AGA AGA-CGFM Online Questions & Answers

• Question 81:

  The ________ tax, though regressive is more popular among tax-players than the income tax because its full cost to the taxpayer is hidden among the large no of transactions.

  A. Proportional tax
  B. Corporate tax
  C. Sales tax
  D. State tax
  C. Sales tax

• Question 82:

  A successfully integrated technology solution for a CFO ties an organization's activities together and:

  A. requires highly customized application software.
  B. optimizes a specific function or activity.
  C. makes consistent information available agency-wide.
  D. eliminates waste, fraud and abuse.
  C. makes consistent information available agency-wide.

• Question 83:

  The risk manager compiles:

  A. A five-year history of paid and self-insured losses
  B. Summarizing the number and types of losses
  C. Frequency and severity of risks
  D. Only A and B
  D. Only A and B

• Question 84:

  Which of the following best suites this Question mark?

  

  A. Statement of Expenditures
  B. Interim statement
  C. Statement of cash flows
  D. None of these
  C. Statement of cash flows

• Question 85:

  The IFB should:

  A. be issued only to vendors with a history of acceptable bid performance
  B. include only related items
  C. Specify the delivery conditions and stipulate that bids will be opened publicly
  D. All of these
  D. All of these

• Question 86:

  If a reportable condition might result in a material misstatement of financial statements, then it must be noted as a:

  A. Material weakness
  B. Unqualified report
  C. Revised situation
  D. Adverse condition
  A. Material weakness

• Question 87:

  The internal control structure is designed to assist managers in:

  A. preparing consistent financial statements in accordance with applicable standards.
  B. guaranteeing the success of an organization's program and preventing fraud, waste and mismanagement of resources.
  C. ensuring that physical security controls prevent unauthorized individuals from accessing sensitive information.
  D. achieving agency program objectives and ensuring that functions are efficiently and effectively performed.
  D. achieving agency program objectives and ensuring that functions are efficiently and effectively performed.

• Question 88:

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

• Question 89:

  A ________ sweeps payroll, accounts, payables, and daily collections into a concentration account daily.

  A. ACH block
  B. Cash flow and security services
  C. ZBA
  D. None of these
  C. ZBA

• Question 90:

  _______________ had separate principles for ___________________ in the past.

  I. Colleges and universities

  II. Hospital and health –care entities

  III. Voluntary health and welfare organization

  IV.

  Nonprofit organization

  A. Federal Government
  B. State Government
  C. Local Government
  D. Non-profit Organization
  D. Non-profit Organization