Free Examination 3: Governmental Financial Management and Control (GFMC) Practice Questions

A.  

consulting legal counsel.

B.  

reporting the results.

C.  

follow-up on control weaknesses.

D.  

considering political ramifications.

A.  

prices and performance of its investment securities

B.  

permissible and non-permissible investment securities

C.  

historical allocations of investment securities

D.  

key and non-key investment security controls

A.  

automated transaction processing.

B.  

debt-reduction analysis.

C.  

performance management reporting.

D.  

general ledger account definition.

A.  

crosstab.

B.  

portable document format.

C.  

text file.

D.  

dashboard.

A.  

It is better to keep the printing in-house.

B.  

Outsourcing printing is feasible.

C.  

Outsourcing printing is necessary.

D.  

ABC Printing should be awarded the outsourcing contract.

A.  

CFO Act of 1990.

B.  

Accountability for Tax Dollars Act of 2002.

C.  

Federal Financial Management Improvement Act of 1996.

D.  

Government Management Reform Act of 1994.

A.  

Debt Collection Improvement Act

B.  

CFO Act

C.  

Accountability for Tax Dollars Act

D.  

Cash Management Improvement Act

A.  

activity measures.

B.  

outcome measures.

C.  

output measures.

D.  

workload measures.

A.  

leadership and staff will reconvene at an alternate location.

B.  

a fully redundant infrastructure will be available to staff at an alternate location.

C.  

there may be no warning of the potential emergency.

D.  

government agencies will need to operate as standalone organizations.