Practice GFMC Exam Online

Question 1

If a state treasurer wants to evaluate a variety of alternative long-term investments, which financial analysis should be used?

A : net present value analysis

B : regression analysis

C : horizontal analysis

D : ratio analysis

Answer: A

Question 2

Which of the following statements from an audit finding is the condition?

A : We identified multiple credit card purchases without receipts to support them.

B : Government policy requires a cardholder to submit receipts for all purchases.

C : Finance Department personnel did not regularly review purchases to ensure compliance.

D : We recommend that the government implements a timely review of all credit card purchases.

Answer: A

Question 3

Performance measures that report the results of providing goods or services are known as

A : activity measures.

B : outcome measures.

C : output measures.

D : workload measures.

Answer: C

Question 4

A program manager at a local agency needs to understand if program participation varies significantly from enrollment. The information changes daily. The best way to quickly analyze this would be to use

A : crosstab.

B : portable document format.

C : text file.

D : dashboard.

Answer: D

Question 5

Management shoulg consider the cost of internal controls in relationship to

A : the available budget.

B : inherent risks.

C : benefits provided.

D : risk of collusion.

Answer: C

Name:	Exam 3 - Governmental Financial Management and Control
Exam Code:	GFMC
Certification:	Certified Government Financial Manager
Vendor:	AGA
Total Questions:	118
Last Updated:	Apr 02, 2026

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