CGFM QUIZ GUIDE - CGFM EXAM PREP & CGFM TEST BRAINDUMPS

CGFM Quiz Guide - CGFM Exam Prep & CGFM Test Braindumps

CGFM Quiz Guide - CGFM Exam Prep & CGFM Test Braindumps

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Tags: Reliable CGFM Test Vce, CGFM Learning Mode, CGFM New Questions, CGFM Exam Guide Materials, CGFM Printable PDF

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AGA Certified Government Financial Manager (CGFM) Sample Questions (Q57-Q62):

NEW QUESTION # 57
According to the AGA Code of Ethics, a government agency contract manager using a vendor as a personal reference would constitute:

  • A. fraud.
  • B. a conflict of interest.
  • C. nepotism.
  • D. professional incompetence.

Answer: B


NEW QUESTION # 58
A sound investment category for pension funds that can be easily valued is

  • A. internal investment pools.
  • B. open-ended mutual funds.
  • C. reverse repurchase agreements.
  • D. derivative instruments.

Answer: B

Explanation:
What Are Open-Ended Mutual Funds?
* Open-ended mutual funds are investment vehicles that allow investors to buy and sell shares at the current net asset value (NAV), which is determined daily.
* These funds are highly liquid and can be easily valued, making them a sound investment option for pension funds.
Why Are They Suitable for Pension Funds?
* Pension funds require investments that are easily valued, transparent, and provide liquidity to meet benefit obligations. Open-ended mutual funds meet all these criteria.
Why Other Options Are Incorrect:
* B. Reverse repurchase agreements:While they can be part of investment strategies, they are not easily valued compared to open-ended mutual funds.
* C. Derivative instruments:Derivatives can be complex and difficult to value, making them less suitable for pension funds that prioritize transparency and simplicity.
* D. Internal investment pools:These are investment vehicles used by governments, but their valuation may not be as straightforward or frequent as mutual funds.
References and Documents:
* GAO Guide to Investment Management for Pension Funds:Recommends transparent, easily valued investments like mutual funds.
* AICPA Pension Plan Audit Guidelines:Emphasizes liquidity and valuation in pension fund investments.


NEW QUESTION # 59
The Prompt Payment Act requires federal agencies to pay

  • A. interest on intragovernmental invoices.
  • B. interest when an invoice is paid late.
  • C. invoices immediately when received.
  • D. invoices no later than 60 days after receipt of the invoice.

Answer: B

Explanation:
* Overview of the Prompt Payment Act (PPA):
* ThePrompt Payment Act (31 U.S.C. Chapter 39)requires federal agencies to pay vendors for goods and services in a timely manner.
* If payment is not made within the required time frame (usually 30 days after receiving a proper invoice), the agency must payinterest penaltiesto the vendor for the late payment.
* Explanation of Answer Choices:
* A. Invoices immediately when received: Incorrect. Federal agencies are not required to pay invoices immediately; they must process payments within the specified timeframe.
* B. Interest when an invoice is paid late: Correct. Agencies must pay interest penalties for late payments.
* C. Invoices no later than 60 days after receipt of the invoice: Incorrect. The standard timeframe is 30 days unless otherwise specified in the contract.
* D. Interest on intragovernmental invoices: Incorrect. The PPA does not apply to intragovernmental transactions.
References:
* Prompt Payment Act,31 U.S.C. Chapter 39.
* U.S. Department of the Treasury,Prompt Payment Act Guidelines.


NEW QUESTION # 60
Four types of credit enhancements are offered by state bond banks. Which of the following is NOT out of those enhancements?

  • A. Additional collateral pledge
  • B. None of these
  • C. A state intercept fund that diverts state aid to a defaulting local unit from the state bond bank
  • D. A moral obligation reserve that will fund one year of debt service

Answer: A


NEW QUESTION # 61
The city of Mudville uses 1600 oil filters annually. The cost of placing an order is $5.00.
The unit cost is $3.50. The carrying cost is 20 percent, and the carrying cost per unit is
&0.70(0.20x$3.50). What is the economic order quantity?

  • A. 155 oil filters
  • B. None of these
  • C. 130 oil filters
  • D. 150 oil filters

Answer: D


NEW QUESTION # 62
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