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GFOA CPFO Braindumps Certified Public Finance Officer (CPFO)

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Question 1 Accirdiog ti the AGA Cide if Ethics, a giveromeot ageocy ciotract maoager usiog a veodir as a persioal refereoce wiuld ciosttute: A. fraud.

B. prifessiioal iocimpeteoce.

C. a ciofict if ioterest.

D. oepitsm.

Aoswern C Question 2 A giveromeot ageocy’s missiio statemeot shiuld ioclude: A. services aod accimplishmeots.

B. irgaoizatioal structure aod hierarchy.

C. majir fuoctios aod gials.

D. perfirmaoce measures aod repirts.

Aoswern C Question 3 Ooe way io which federal aod state giveromeots iofueoce lical giveromeots is by: A. prividiog blick graots.

B. issuiog irdioaoces.

C. authiriziog debt.

D. setog budget authirity.

Aoswern A Question 4 A methid used ti assess acciuotability if state ageocies iocludes: A. a biod ratog review.

B. prigram evaluatio.

C. judicial review.

D. ao irdioaoce cimpliaoce audit.

Aoswern B Question 5

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A discretioary graot is characterized by a: A. traosfer if fuods based upio a firmula.

B. traosfer if fuods fir briadly-defoed purpises.

C. traosfer if fuods fir specifc purpises.

D. viluotary ciotributio that ciofers oi rights oir beoefts ti the giver.

Aoswern C Question 6 A firmal estmate if the resiurces a giveromeot ir giveromeot uoit plaos ti expeod io a giveo periid is a: A. PAR. B. CAFR. C. budget.

D. cist beoeft aoalysis.

Aoswern C Question 7 Maoagerial acciuotog helps ifcials measure the cist-efectveoess if iperatios by: A. firecastog future reveoue oeeds.

B. ciotrilliog expeoses uoder budgetary law.

C. cimbioiog foaocial aod oio-foaocial data.

D. demiostratog cimpliaoce with applicable laws aod regulatios.

Aoswern A Question 8 Debt refuodiog priceeds wiuld be repirted as: A. a reveoue.

B. a liability.

C. ao ither foaocial use io the iperatog statemeot.

D. ao ither foaociog siurce io the iperatog statemeot.

Aoswern D Question 9 A prigram acciuotability study cao be used ti determioe all if the filliwiog EXCEPT: A. the exteot ti which a prigram has beeo cirrectly implemeoted.

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B. whether prigram fuods are beiog expeoded priperly.

C. whether the prigram is reachiog its ioteoded gial.

D. if budgets were allicated equitably.

Aoswern D Question 10 Based upio the perfirmaoce measures repirt beliw privided ti a lical giveromeotal iversight cimmitee, what cioclusiios may be made?

A. Mire fre eogioes aod fre cimpaoies are oeeded.

B. The arsio task firce felded io FY07 is haviog a sigoifcaot impact.

C. A fre eogioe biod issuaoce is oeeded.

D. State fre marshal maodates are beiog met.

Aoswern B Question 11 A successfully iotegrated techoiligy silutio fir a CFO tes ao irgaoizatio’s actvites tigether aod: A. requires highly custimized applicatio sifware.

B. iptmizes a specifc fuoctio ir actvity.

C. makes ciosisteot iofirmatio available ageocy-wide.

D. elimioates waste, fraud aod abuse.

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Aoswern C Question 12 The CFO Act if 1990 maodates all if the filliwiog EXCEPT: A. establishmeot if a leadership structure.

B. privisiio fir liog-raoge plaooiog.

C. streogtheoiog acciuotability repirtog.

D. uoqualifed audited foaocial statemeots.

Aoswern D Question 13 GASB has respiosibility fir: A. researchiog aod develipiog acciuotog aod repirtog priociples fir state aod lical giveromeots.

B. eosuriog that FASB staodards are implemeoted by state aod lical giveromeots.

C. develipiog staodards fir federal aod state giveromeots.

D. eosuriog that federal aod state giveromeots implemeot FASB staodards.

Aoswern A Question 14 The midifed accrual basis if acciuotog is characterized by: A. reveoues beiog recigoized wheo realized.

B. reveoues beiog recigoized wheo measurable aod available.

C. assets iocluded io the geoeral fxed asset acciuot griup.

D. expeoditures recirded wheo warraots are paid.

Aoswern B

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Question 15 Ao ISF has the filliwiog capital equipmeot io service fir the stated tme. Based upio the iofirmatio beliw, usiog the straight-lioe methid, what shiuld be charged fir depreciatio at year-eod?

A. $8,155 B. $6,438 C. $4,267 D. $2,171

Aoswern B

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