CGFM Funds Practice Questions
The free CGFM: Certified Government Financial Manager questions that deal with funds, with answers and explanations. The full bank and the timed practice test cover every topic the exam asks about.
Question #1
A government agency receives federal funds to support local programs. What is the main purpose of these funds?
Correct answer: D
Explanation
Federal funds are mainly used to support programs that meet community needs and enhance public welfare.
Question #8
If a government official is accused of mismanaging funds, what is the first step in ensuring accountability?
Correct answer: B
Explanation
Conducting an internal audit is the first step in ensuring accountability and transparency in financial management.
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