FREE CGFM Trivia Questions and Answers

Question 1

The AGA Code of Ethics states that the following would be unethical for a government agency contract manager to do:

Accepted Answer

A conflict of Interest

Answer

Nepotism

Answer

Fraud

Answer

professional incompetence

Question 2

The following should be in a government agency's mission statement:

Accepted Answer

major functions and goals.

Answer

performance measures and reports.

Answer

services and accomplishments.

Answer

organizational structure and hierarchy.

Question 3

Federal and state governments can have an impact on local governments in a number of ways, including:

Accepted Answer

providing block grants.

Answer

setting budget authority.

Answer

issuing ordinances.

Answer

authorizing debt

Question 4

One approach to measuring state agency accountability is as follows:

Accepted Answer

program evaluation.

Answer

an ordinance compliance audit.

Answer

a bond rating review.

Answer

judicial review.

Question 5

Discretionary grants are distinguished by:

Accepted Answer

transfer of funds for specific purposes.

Answer

voluntary contribution that confers no rights nor benefits to the giver.

Answer

transfer of funds for broadly-defined purposes.

Answer

transfer of funds based upon a formula.

Question 6

An official projection of the financial resources a government or government entity intends to spend during a specific time period is a:

Accepted Answer

Budget

Answer

PAR

Answer

CAFR

Answer

Cost-benefit analysis

Question 7

Managerial accounting aids officials in determining how cost-effective operations are by

Accepted Answer

forecasting future revenue needs.

Answer

demonstrating compliance with applicable laws and regulations

Answer

controlling expenses under budgetary law.

Answer

combining financial and non-financial data.