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CGFM VIP Certification Practice Exam
CGFM — The Certified Government Financial Manager (CGFM) credential is issued by the Association of Government Accountants (AGA) and consists of three computer-based exams: Exam 1 (Governmental Environment), Exam 2 (Governmental Accounting, Financial Reporting, and Budgeting), and Exam 3 (Governmental Financial Management and Control); each exam contains 115 questions (100 scored, 15 unscored pretest items) with a 3-hour time limit and a passing scaled score of 70.
30
Questions
90m
Time Limit
70.00%
To Pass
Question 1 of 30👑 VIP
The Chief Financial Officer of a mid-sized federal agency is reviewing the agency's budget submission timeline. Under the Budget and Accounting Act and OMB Circular A-11, the President is required to submit the federal budget to Congress no later than the first Monday in February. However, the agency's internal deadlines must work backward from this date. Which of the following best describes the sequence of events in the federal budget formulation process?
Questions 2–30 and full explanations are VIP-exclusive.