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, PrepPDF 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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  • Exam Code: CGFM
  • Exam Name: Certified Government Financial Manager (CGFM)
  • Certification Provider: AGA
  • Corresponding Certification: AGA CGFM
  • Updated: Aug 16, 2026
  • No. of Questions: 115 Questions & Answers with Testing Engine
  • Download Limit: Unlimited

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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.

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

  • 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.

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

For more info read reference

AGA Certification Reference

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Certification Topics of AGA CGFM: Certified Government Financial Manager (CGFM) Exam

AGA CGFM exam dumps include the following topics:

Examination 1: Government Environment (GE)

  • Delivering government information and services electronically (8%)
  • The organization, authority and structure of government (15%)
  • The legally-based significance of the government financial environment (15%)
  • Government management unicycle (16%)
  • Governmental financing procedure (24%)
  • Ethics as implemented to the governmental environment (10%)
  • Identifying definitions, and the notions of public accountability (12%)

Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB)

  • Governmental financial reporting, accounting, and budgeting general knowledge (40%)
  • Local and State financial reporting and accounting (30%)
  • Federal financial reporting and accounting (30%)

Examination 3: Governmental Financial Management and Control (GFMC)

  • Managerial and Financial Analysis Techniques (15%)
  • Internal dominance (25%)
  • Performance management//service attempt and accomplishments (15%)
  • Auditing (20%)
  • Financial management (25%)

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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

AGA CGFM Exam Syllabus Topics:

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

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