Smartly Prepare Exam with Free Online GFMC Practice Test

We offer the latest GFMC practice test designed for free and effective online Exam 3 - Governmental Financial Management and Control certification preparation. It's a simulation of the real GFMC exam experience, built to help you understand the structure, complexity, and topics you'll face on exam day.

Question 1

How may a city parks and recreation director meaningfully assess the performance of the department's grounds maintenance division?

Options :

A : use a single measure of citizen satisfaction with parks and recreation

B : evaluate funds spent on grounds maintenance

C : analyze grounds maintenance staffing levels

D : compare cost per acre maintained to cost per acre maintained in another jurisdiction

Answer: D

Question 2

If a state treasurer wants to evaluate a variety of alternative long-term investments, which financial analysis should be used?

Options :

A : net present value analysis

B : regression analysis

C : horizontal analysis

D : ratio analysis

Answer: A

Question 3

Management shoulg consider the cost of internal controls in relationship to

Options :

A : the available budget.

B : inherent risks.

C : benefits provided.

D : risk of collusion.

Answer: C

Question 4

Which of the following would auditors issue an opinion on?

Options :

A : performance audits

B : compliance audits

C : financial statement audits

D : forensic audits

Answer: C

Question 5

Which of the following statements from an audit finding is the condition?

Options :

A : We identified multiple credit card purchases without receipts to support them.

B : Government policy requires a cardholder to submit receipts for all purchases.

C : Finance Department personnel did not regularly review purchases to ensure compliance.

D : We recommend that the government implements a timely review of all credit card purchases.

Answer: A