Certified Government Financial Manager (CGFM): CGFM Exam

"Certified Government Financial Manager (CGFM)", also known as CGFM exam, is a AGA Certification. With the complete collection of questions and answers, iPassleader has assembled to take you through 115 Q&As to your CGFM Exam preparation. In the CGFM exam resources, you will cover every field and category in AGA CGFM Certification helping to ready you for your successful AGA Certification.

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  • Updated on: Sep 12, 2026
  • No. of Questions: 115 Questions & Answers

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  • Updated on: Sep 12, 2026
  • No. of Questions: 115 Questions & Answers

Requirements of the AGA CGFM: Certified Government Financial Manager (CGFM) Exam

All CGFMs must conform to the AGA Code of Ethics to maintain the CGFM certification. Furthermore, CGFMs must be active to continue utilizing the CGFM designation after their name.

CGFMs are obliged to keep the CGFM certification in an active state:

  • By paying their yearly renewal payments, CGFMs state that they comply with the AGA Ethics Code and will continue to comply with it.

  • At least 125 hours in governmental account management themes or associated technical disciplines complete continuing professional education (CPE) every two years (within the designated two-year cycle).

  • Submit the CGFM registration fee every year by the due date.

  • Retain and submit complete information on completed CPE hours, if asked by AGA.

AGA CGFM exam dumps contain all the information related to the exam.

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Study Guide of AGA CGFM: Certified Government Financial Manager (CGFM) Exam

CGFM study materials are now accessible as a 6-month subscription in the VitalSource bookstore. The guidelines may be accessed on, off and through the bookshelf application. Each chapter and part of the three study guides have been reviewed. Some adjustments were editorial/clear, some represent changes in contents and some reflect changes in rules. Added material, including two new sections in Reference Book 3 and Study Guide 2, will contain fresh language on the fundamental accounting concepts, to match updated test topic outlines. The changes to the regulations include new legislative information and content updates reflect applicable advice of the GASB and the FASAB. The first chapter of the study guideline 3 (audit part) has been revised to match the 2018 Yellow Book version. Examples, pictures, references and appendices were all revised as part of the overall update. Due to the extent of the changes, we suggest that every publishing be reviewed in its completeness. Employees who are not permanently retired from AND in the area of financial management may, by contacting us, seek a modification of their status to “retired.” People should mention their retirement dates and affirm that they do not work in the area of financial management. At the time of retirement the CGFMs must be active so that their status is converted to “retired”, when the CGFM first goes dormant, the person must re-activate the designation before changing the CGFM status to “retired”. Therefore, the retired CGFMs in the second half of the year should reappoint in that year-to prevent their CGFM from becoming inactive and from adapting to a “retired” state. AGA CGFM exam dumps contain all the material which is necessary for the examination.

Reference: https://www.agacgfm.org/CGFM-Certification/About-CGFM.aspx

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AGA CGFM Exam Syllabus Topics:

SectionObjectives
Topic 1: CGFM Exam 1: Financial Management- Budgeting and Budget Preparation
  • 1. Budget cycle and process
  • 2. Budget preparation techniques
  • 3. Capital budgeting
- Financial Management and Analysis
  • 1. Cash management
  • 2. Financial analysis techniques
  • 3. Working capital management
- Government Contracting and Procurement
  • 1. Procurement processes
  • 2. Contract types and evaluation
  • 3. Contract administration
- Strategic Planning and Performance Measurement
  • 1. Balanced scorecard
  • 2. Strategic planning concepts
  • 3. Performance measurement frameworks
- Risk Management and Internal Controls
  • 1. Enterprise risk management
  • 2. Internal control frameworks
  • 3. Control activities
- Revenue, Expenditure, and Expense Recognition
  • 1. Expenditure accounting
  • 2. Cost accounting concepts
  • 3. Revenue recognition principles
Topic 2: CGFM Exam 2: Governmental Accounting- Budgetary Accounting
  • 1. Budgetary entries
  • 2. Encumbrance accounting
  • 3. Budgetary control
- Principles of Governmental Accounting
  • 1. Fund accounting concepts
  • 2. GAAP for governments
  • 3. Governmental accounting fundamentals
- Fund Accounting and Financial Reporting
  • 1. Modified accrual basis
  • 2. Financial statement preparation
  • 3. Fund types and classifications
- State and Local Government Transactions
  • 1. Capital projects and debt service funds
  • 2. General fund accounting
  • 3. Special revenue funds
- Federal Government Accounting
  • 1. Federal financial reporting
  • 2. Federal accounting standards
  • 3. USSGL concepts
- GASB Standards
  • 1. Financial reporting entity
  • 2. GASB conceptual framework
  • 3. Key GASB pronouncements
Topic 3: CGFM Exam 3: Financial Reporting, Control, and Analysis- Compliance and Accountability
  • 1. Legal and regulatory compliance
  • 2. Accountability reporting
  • 3. Grant compliance requirements
- Control Frameworks and Systems
  • 1. COSO internal control framework
  • 2. IT controls and security
  • 3. Monitoring activities
- Financial Reporting
  • 1. Management's discussion and analysis (MD&A)
  • 2. Comprehensive annual financial report (CAFR)
  • 3. Basic financial statements
- Auditing in the Government Environment
  • 1. Audit planning and reporting
  • 2. Government auditing standards (GAGAS)
  • 3. Single Audit Act
- Financial Statement Analysis
  • 1. Ratio analysis
  • 2. Performance evaluation metrics
  • 3. Liquidity and solvency analysis

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