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The AGA Certified Government Financial Manager (CGFM) credential carries weight in the industry because the vendor sets a high bar for passing it. 2Pass4sure helps you clear that bar with 115 carefully prepared CGFM practice questions reviewed by subject-matter experts.
AGA CGFM Exam Overview:
| Certification Vendor: | AGA (Association of Government Accountants) |
|---|---|
| Exam Name: | Certified Government Financial Manager (CGFM) Examinations: Governmental Environment; Governmental Accounting, Financial Reporting and Budgeting; Governmental Financial Management and Control |
| Exam Number: | CGFM |
| Certificate Validity Period: | Valid indefinitely; requires annual renewal and 80 hours of CPE every 2 years |
| Exam Duration: | 135 per exam |
| Available Languages: | English |
| Exam Price: | $150 USD per exam; application fee: $90 USD (members), $120 USD (non-members) |
| Passing Score: | 500 (scaled, range 200-700) per exam |
| Real Exam Qty: | 115 per exam, 345 total |
| Exam Format: | Multiple-choice questions, Computer-based |
| Recommended Training: | AGA Official Study Guides & Resources |
| Exam Registration: | AGA Official Registration Pearson VUE Scheduling |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Online proctored (OnVUE) or onsite at Pearson VUE testing centers; available year-round |
| Pre Condition: | Bachelor's degree from accredited institution; minimum 2 years professional experience in government financial management; approved CGFM application |
| Official Syllabus URL: | https://www.agacgfm.org/cgfm-certification/cgfm-exams/exam-content-outlines/ |
AGA CGFM Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Examination 3: Governmental Financial Management and Control | - Performance Measurement / Metrics / Service Efforts and Accomplishments (SEA) - Auditing - Financial and Managerial Analysis Techniques - Internal Controls - Financial Management Functions |
| Topic 2: Examination 1: Governmental Environment | - Legally Based Implications of the Government Financial Environment - Government Management System (Cycle) - Ethics as Applied to the Governmental Environment - Governmental Financing Process - Organization, Structure and Authority of Government - Electronic Services in Government - Concepts, Definitions and Notions of Public Accountability |
| Topic 3: Examination 2: Governmental Accounting, Financial Reporting and Budgeting | - Federal Financial Accounting and Reporting - Governmental Financial Accounting, Reporting and Budgeting: General Knowledge - State and Local Financial Accounting and Reporting |
AGA CGFM Exam — Answers to Your Questions
The AGA Certified Government Financial Manager (CGFM) (exam code CGFM) is the exam you pass to earn the Certified Government Financial Manager (CGFM) certification, a credential at the Professional level. If you are mapping out a certification path with AGA, this exam is a milestone worth planning around.
The CGFM exam includes 115 per exam, 345 total questions, and you have 135 per exam to complete them. With that many questions on the clock, pacing is part of the challenge: divide your time into rough blocks as you go, and flag the items that stall you so you can circle back at the end instead of burning minutes on a single question. A week or two before your exam date, sit at least one full timed session in the 2Pass4sure test engine under the same time limit, so the pace feels familiar rather than frantic on the day.
You need 500 (scaled, range 200-700) per exam to pass the CGFM exam, and the official registration fee is $150 USD per exam; application fee: $90 USD (members), $120 USD (non-members). That fee is due again in full for every retake, which makes thorough preparation the cheaper investment by far. Before you book your seat, test yourself with the 2Pass4sure practice questions until you are scoring comfortably above the passing mark on a consistent basis — it is the simplest way to avoid paying for the same exam twice.
Bachelor's degree from accredited institution; minimum 2 years professional experience in government financial management; approved CGFM application
Eligibility rules can be adjusted by AGA over time, so before you register, confirm the current requirements on the official exam page: view the official CGFM exam information.
You can book the CGFM exam through the official registration channels below:
How the exam is taken: Online proctored (OnVUE) or onsite at Pearson VUE testing centers; available year-round.
AGA lists the following official training options for candidates preparing for this exam:
Once you have worked through the training, measure your readiness with the 115 practice questions from 2Pass4sure — they show you exactly which topics still need attention before you book the exam.
Yes. 2Pass4sure offers a free PDF demo of the CGFM practice questions, so you can judge the quality of the material firsthand before paying anything. Every purchase also includes 365 days of free updates — if AGA changes the exam during that year, your material changes with it. And when the free update period expires, you can extend it at a 50% discount from within your member zone.
Every CGFM purchase at 2Pass4sure is backed by a 100% Money Back Guarantee: if you take the corresponding exam within 60 days of your purchase and do not pass, you can apply for a full refund. The guarantee has clear conditions — it does not apply if you sit the exam within 3 days of purchase, if you downloaded the material but never actually took the exam, or to free materials and expired orders, and the candidate name must match the payer name. To file a claim, send a scan of your exam enrollment slip together with your official Score Report PDF within 2 days of the exam; claims are processed within 7 days. If you would rather not take a refund, you can exchange the product instead and receive two additional exam preparation products of equal value for free, while your original product keeps its update service. Delivery itself is instant: your material is available for download right after payment and is also sent to your email within one minute — if it has not arrived within 2 hours, contact our customer service. There is no limit on how many computers you can install it on.
The official AGA Certified Government Financial Manager (CGFM) outline divides the exam content into 3 main domains. The first three are:
- Examination 3: Governmental Financial Management and Control
- Examination 1: Governmental Environment
- Examination 2: Governmental Accounting, Financial Reporting and Budgeting
That is only the headline view — scroll back up to the Exam Topics section on this page for the complete domain-by-domain breakdown before you plan your study schedule.
AGA Certified Government Financial Manager (CGFM) Sample Questions:
Under the control environment component of internal control, management should
- A. demonstrate a commitment to integrity and ethical values.
- B. implement control activities through policies.
- C. communicate quality information to achieve the entity's objectives.
- D. establish and operate activities to monitor the internal control system.
Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).
In addition to the Yellow Book, which group's external audit standards can the GAO reference?
- A. International Organization of Supreme Audit Institutions
- B. International Auditing and Assurance Standards Board.
- C. AICPA
- D. Public Company Accounting Oversight Board
Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).
A state transfers cagh to a broker and the broker transfers securities to the state, promising to repay the cash plus interest in exchange for the return of the same securities. This transaction is an example of
- A. an arbitrage agreement.
- B. a mutual buy-sell agreement.
- C. a reverse repurchase agreement.
- D. a repurchase agreement.
Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).
An agency benefit program allows employees who commute by public transit up to 10 free taxi trips home per calendar year. Employees can use the program for personal or family health emergencies. The most appropriate method to check for abuse of this program is
- A. requesting records from a random sample of employees to verify they used transit on the day they used the taxi services.
- B. using personal data to determine if the destination address matches the employees home address.
- C. using geographic information system data to determine if the destination addresses were hospitals or clinics.
- D. using program data to look for instances of individuals using the service more than 10 times per year.
Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).
If a state treasurer wants to evaluate a variety of alternative long-term investments, which financial analysis should be used?
- A. ratio analysis
- B. net present value analysis
- C. horizontal analysis
- D. regression analysis
Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).
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