Leo Harris Leo Harris's Profile Page

Leo Harris Leo Harris

0 Course Enrolled • 0 Course Completed

Biography

Free CGFM Exam Questions - Valid CGFM Torrent

P.S. Free & New CGFM dumps are available on Google Drive shared by RealExamFree: https://drive.google.com/open?id=15auzrV8xFUE0ua6sk9VFDekNCrZO7FJM

Our AGA CGFM exam questions are created and curated by industry specialists.Experts at RealExamFree strive to provide applicants with valid and updated AGA CGFM exam questions to prepare from, as well as increased learning experiences. We are confident in the quality of the AGA CGFM preparational material we provide and back it up with a money-back guarantee.

The Association of Government Accountants (AGA) is responsible for the design and development of the CGFM certification program. The AGA is a national association and provides educational opportunities and professional networking to government accountants. Since its inception, the AGA has established CGFM as the standard of excellence for the government's financial managers.

>> Free CGFM Exam Questions <<

Free PDF CGFM - Fantastic Free Certified Government Financial Manager (CGFM) Exam Questions

One of the most effective strategies to prepare for the Certified Government Financial Manager (CGFM) (CGFM) exam successfully is to prepare with actual AGA CGFM exam questions. It would be difficult for the candidates to pass the AGA exam on the first try if the CGFM study materials they use are not updated. Studying with invalid CGFM practice material results in a waste of time and money. Therefore, updated AGA CGFM practice questions are essential for the preparation of the CGFM exam.

AGA Certified Government Financial Manager (CGFM) Sample Questions (Q110-Q115):

NEW QUESTION # 110
Management shoulg consider the cost of internal controls in relationship to

A. the available budget.
B. inherent risks.
C. benefits provided.
D. risk of collusion.

Answer: C

Explanation:
Why Should Management Consider the Cost of Internal Controls in Relation to Benefits?
* Thecost-benefit principlestates that the cost of implementing and maintaining internal controls should not exceed the benefits derived from those controls. Effective internal controls help mitigate risks, improve efficiency, and ensure compliance, but their implementation comes with costs (e.g., time, resources, systems).
* Management must evaluate whether the benefits of preventing or detecting potential issues (e.g., fraud, errors) justify the associated costs.
Why Other Options Are Incorrect:
* A. The available budget:While the budget is important, internal controls are not solely dictated by budget constraints; their effectiveness and benefit-to-cost ratio are key considerations.
* B. Inherent risks:While inherent risks are a factor in determining control needs, the relationship between cost and benefit remains the primary consideration.
* D. Risk of collusion:Controls address collusion risks, but management does not prioritize collusion specifically when assessing cost versus benefit.
References and Documents:
* COSO Internal Control Framework:Highlights the cost-benefit principle when implementing controls.
* GAO Standards for Internal Control (Green Book):Emphasizes balancing costs with benefits when designing internal control systems.

NEW QUESTION # 111
Which of the following statements from an audit finding is the condition?

A. Government policy requires a cardholder to submit receipts for all purchases.
B. We identified multiple credit card purchases without receipts to support them.
C. We recommend that the government implements a timely review of all credit card purchases.
D. Finance Department personnel did not regularly review purchases to ensure compliance.

Answer: B

Explanation:
* Definition of the Condition in an Audit Finding:
* The "condition" describes the actual state observed during the audit. It highlights what occurred in practice, serving as the factual basis for the finding.
* In this case, the condition is theabsence of receiptsfor multiple credit card purchases.
* Explanation of Answer Choices:
* A. We identified multiple credit card purchases without receipts to support them: Correct.
This is the observed issue (condition).
* B. Government policy requires a cardholder to submit receipts for all purchases: This is the
"criteria," which defines the standard or rule being audited against.
* C. Finance Department personnel did not regularly review purchases to ensure compliance:
This is the "cause," explaining why the condition occurred.
* D. We recommend that the government implements a timely review of all credit card purchases: This is the "recommendation," not the condition.
References:
* GAO,Government Auditing Standards (Yellow Book).
* AICPA,Elements of an Audit Finding Guidance.

NEW QUESTION # 112
Pension system may be operated by:

A. Multiple organization that share costs
B. Multiple organizations that engage a management agent
C. All of these
D. A single nonprofit or government

Answer: C

NEW QUESTION # 113
One of the five components of COSO ERM is

A. changing environment.
B. complex calculations.
C. accepting risk.
D. performance.

Answer: D

Explanation:
What Is COSO ERM?TheCOSO Enterprise Risk Management (ERM) Frameworkis a widely accepted framework that helps organizations identify, assess, and manage risks while creating value. The five components of COSO ERM are:
* Governance and Culture
* Strategy and Objective-Setting
* Performance
* Review and Revision
* Information, Communication, and Reporting
Why Is Performance a Key Component?
* ThePerformancecomponent focuses on identifying, assessing, and prioritizing risks to achieving an organization's objectives. It includes implementing risk responses (e.g., avoiding, reducing, sharing, or accepting risks) and monitoring their effectiveness.
Why Other Options Are Incorrect:
* B. Changing Environment:This is not a COSO ERM component but a general factor influencing risk management.
* C. Complex Calculations:This is not relevant to COSO ERM.
* D. Accepting Risk:While accepting risk is part of risk responses, it is not one of the five COSO ERM components.
References and Documents:
* COSO ERM Framework (2017):Details the five components of ERM and their application in managing risks.

NEW QUESTION # 114
If the $20,000 is loaned at a stated interest rate of 10%with the requirement that an 18% minimum compensating balance be kept, the APR (annual percentage rate) is:

A. 12.00%
B. 12.2%
C. 12.07%
D. 13%

Answer: B

NEW QUESTION # 115
......

Our CGFM free demo provides you with the free renewal in one year so that you can keep track of the latest points happening in the world. As the questions of exams of our CGFM exam torrent are more or less involved with heated issues and customers who prepare for the exams must haven’t enough time to keep trace of exams all day long, our CGFM Practice Test can serve as a conducive tool for you make up for those hot points you have ignored. Therefore, you will have more confidence in passing the exam, which will certainly increase your rate to pass the CGFM exam.

Valid CGFM Torrent: https://www.realexamfree.com/CGFM-real-exam-dumps.html

BONUS!!! Download part of RealExamFree CGFM dumps for free: https://drive.google.com/open?id=15auzrV8xFUE0ua6sk9VFDekNCrZO7FJM

Leo Harris Leo Harris

Biography

ABOUT

Pages

Contact