Quiz 2025 AGA CGFM–High Pass-Rate Valid Exam Braindumps

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Introduction to AGA CGFM: Certified Government Financial Manager (CGFM) Exam

Certified State Financial Manager is a professional certification given by AGA, showing expertise in federal, state and local government accounting, auditing, financial reporting, internal control and management. CGFM is a recognized certification that acknowledges the specific expertise and knowledge that a successful financial manager of the Government needs. You may increase your professional possibilities and differentiate yourself from the others in your industry by becoming a CGFM. AGA CGFM Exam Dumps is the best way to learn all the concepts of the examination.

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AGA Certified Government Financial Manager (CGFM) Sample Questions (Q59-Q64):

NEW QUESTION # 59
Management segregates duties among staff in order to reduce the risk of fraud

A. detection.
B. pressure.
C. rationalization.
D. opportunity.

Answer: D

Explanation:
Segregation of Duties and the Fraud Triangle:
* TheFraud Triangleidentifies three conditions that contribute to fraud:pressure,opportunity, and rationalization.
* Segregating duties (e.g., separating authorization, recordkeeping, and asset custody) is specifically designed to reduceopportunity, which is the chance for an employee to commit fraud without detection.
Why Opportunity Is Key:
* If one person has too much control over a process, they may exploit it for personal gain. Segregating duties creates checks and balances, making it harder for fraudulent activities to go unnoticed.
Why Other Options Are Incorrect:
* A. Pressure:Pressure refers to personal or financial stresses that drive someone to commit fraud, but segregation of duties does not address this directly.
* C. Rationalization:Rationalization involves justifying fraudulent behavior, which segregation does not prevent.
* D. Detection:While segregation can aid in fraud detection, its primary role is to reduce opportunities for fraud.
References and Documents:
* GAO Standards for Internal Control (Green Book):Emphasizes segregation of duties as a control to mitigate opportunities for fraud.
* COSO Internal Control Framework:Identifies segregation of duties as a key tool to reduce fraud risk.

NEW QUESTION # 60
Small local governments in states not requiring a financial audit may choose:

A. Any of these
B. Review or Member's audit
C. A compilation
D. Agreed-upon procedures D.

Answer: A

NEW QUESTION # 61
Repo is of one-day maturity Interest is based
There are five types of repos.
on the federal rate.

A. Open
B. Overnight
C. Tri-party
D. Term

Answer: B

NEW QUESTION # 62
A sweeps payroll, accounts, payables, and daily collections into a
concentration account daily.

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

Answer: A

NEW QUESTION # 63
Which one the following statement is NOT included in Green Purchasing?

A. Buying energy-efficient light bulbs
B. Buying non-toxic cleaning products
C. Buying batteries with mercury
D. Buying recycled paper and two-way envelopes

Answer: C

NEW QUESTION # 64
......

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