AGA CGFM Objective Assessment Guide Exam Questions
and Already graded Solutions and Assured Satisfactions
2024/2025
SOX - correct answer Internal controls assessed during financial reporting
Accountability of Tax Dollars Act of 2002 - correct answer Annual audit for
virtually all agencies
Components of Internal Control - correct answer 1) control environment
2) risk assessment
3) control activities
4) information and communication
5) monitoring
Components of ERM - correct answer 1) internal environment
2) objective setting
3) event identification
4) risk assessment
5) risk response
6) control activities
7) information and communication
8) monitoring
Evaluating the Internal Control Process - correct answer 1) Organize
2) Segment
3) Risk Assessment
, 4) Control Plans
5) Control Reviews
6) Corrective Actions
7) Track Corrections
8) Report Results
SEA Report Components (June 2010) - correct answer 1) Purpose and Scope
2) Major Goals and Objectives
3) Key Measures of SEA Performance
4) Discussion and Analysis
Government Performance and Results Modernization Act requires: - correct
answer 1) Strategic Plan
2) Annual Performance Plan
3) Annual Performance Report
Federalism - correct answer 1. Power is distributed among different lvls of Gov't
2. A legal relationship with power distributed among different levels of gov't
3. No lvl of gov't has complete authority over all areas of public policy
4. Results in no centralized system of gov't in US
Complex relationships between the Federal, State, and Local Gov'ts, distributed
authorities, rather than a centralized command and control system is an example
of: - correct answer Federalism
Sovereignty - correct answer 1. National gov't has because states and citizens
can't sue w/out its permission
2. States may not enact laws that violate the Constitution or US code.
and Already graded Solutions and Assured Satisfactions
2024/2025
SOX - correct answer Internal controls assessed during financial reporting
Accountability of Tax Dollars Act of 2002 - correct answer Annual audit for
virtually all agencies
Components of Internal Control - correct answer 1) control environment
2) risk assessment
3) control activities
4) information and communication
5) monitoring
Components of ERM - correct answer 1) internal environment
2) objective setting
3) event identification
4) risk assessment
5) risk response
6) control activities
7) information and communication
8) monitoring
Evaluating the Internal Control Process - correct answer 1) Organize
2) Segment
3) Risk Assessment
, 4) Control Plans
5) Control Reviews
6) Corrective Actions
7) Track Corrections
8) Report Results
SEA Report Components (June 2010) - correct answer 1) Purpose and Scope
2) Major Goals and Objectives
3) Key Measures of SEA Performance
4) Discussion and Analysis
Government Performance and Results Modernization Act requires: - correct
answer 1) Strategic Plan
2) Annual Performance Plan
3) Annual Performance Report
Federalism - correct answer 1. Power is distributed among different lvls of Gov't
2. A legal relationship with power distributed among different levels of gov't
3. No lvl of gov't has complete authority over all areas of public policy
4. Results in no centralized system of gov't in US
Complex relationships between the Federal, State, and Local Gov'ts, distributed
authorities, rather than a centralized command and control system is an example
of: - correct answer Federalism
Sovereignty - correct answer 1. National gov't has because states and citizens
can't sue w/out its permission
2. States may not enact laws that violate the Constitution or US code.
