CERTIFIED GOVERNMENT FINANCIAL MANAGER (CGFM) EXAM
STUDY GUIDE | QUESTIONS & ANSWERS | NEW 2026/2027 UPDATE |
GRADED A+| 100% CORRECT (VERIFIED SOLUTIONS)
In the government management cycle, planning:
A) identifies goal and determine the most cost-effective means for accomplishing them
B) precedes all other phases and does not have the constraint of realistic budget outcomes
C) outcomes are an input to the programming and then, accounting phase
D) should occur throughout the year -
ANSWER
D) should occur throughout the year
Some of the steps of the government management cycle, in order, include
A) budgeting, planning, operations and auditing
B) planning, budgeting, operations and auditing
C) budgeting, planning, accounting, and operations
D) planning, budgeting, accounting and operations -
ANSWER
B) planning, budgeting, operations and auditing
Under the government management cycle, what outputs from the programming phase are also
inputs to the budgeting phase?
A) refined objectives and identified resources required to meet objectives
B) accounting of resources used and performance reporting on activities
C) appropriated budget and operational activities
D) internal and external reports and performance audits -
ANSWER
A) refined objectives and identifies resources required to meet objectives
, Identifying specific and measurable objectives is performed during which phase of the government
management cycle?
A) programming
B) budgeting
C) planning
D) reporting -
ANSWER
A) programming
The first step in strategic planning includes the identification of
A) the budget
B) goals
C) governance structures
D) resource requirements -
ANSWER
B) goals
Which phase of the government management cycle immediately follows the accounting phase?
A) budgeting
B) operations
C) auditing
D) reporting -
ANSWER
D) reporting
An outcome of the programming phrase is the determination of level of resources to be requested in
which government management phase?
A) budgeting
STUDY GUIDE | QUESTIONS & ANSWERS | NEW 2026/2027 UPDATE |
GRADED A+| 100% CORRECT (VERIFIED SOLUTIONS)
In the government management cycle, planning:
A) identifies goal and determine the most cost-effective means for accomplishing them
B) precedes all other phases and does not have the constraint of realistic budget outcomes
C) outcomes are an input to the programming and then, accounting phase
D) should occur throughout the year -
ANSWER
D) should occur throughout the year
Some of the steps of the government management cycle, in order, include
A) budgeting, planning, operations and auditing
B) planning, budgeting, operations and auditing
C) budgeting, planning, accounting, and operations
D) planning, budgeting, accounting and operations -
ANSWER
B) planning, budgeting, operations and auditing
Under the government management cycle, what outputs from the programming phase are also
inputs to the budgeting phase?
A) refined objectives and identified resources required to meet objectives
B) accounting of resources used and performance reporting on activities
C) appropriated budget and operational activities
D) internal and external reports and performance audits -
ANSWER
A) refined objectives and identifies resources required to meet objectives
, Identifying specific and measurable objectives is performed during which phase of the government
management cycle?
A) programming
B) budgeting
C) planning
D) reporting -
ANSWER
A) programming
The first step in strategic planning includes the identification of
A) the budget
B) goals
C) governance structures
D) resource requirements -
ANSWER
B) goals
Which phase of the government management cycle immediately follows the accounting phase?
A) budgeting
B) operations
C) auditing
D) reporting -
ANSWER
D) reporting
An outcome of the programming phrase is the determination of level of resources to be requested in
which government management phase?
A) budgeting
