FAQs – Certified Government Financial Manager (CGFM)
What is the length of the exam?
This Certified Government Financial Manager (CGFM) exam is a 135-minute-long exam.
What is the format of the exam?
The Certified Government Financial Manager (CGFM) exam is based on Multiple Choice Questions.
How Can I Register for the Certified Government Financial Manager (CGFM)?
Follow these steps to register for the exam –
- Firstly, Visit the AGA CGFM website
- Secondly, Read the code of ethics
- Thirdly, Apply for the program under the CGFM certification process
- Then, Submit the required degree documentation
- Subsequently, You will receive an eligibility letter
- Then, Prepare for the examinations
- After that, Schedule and take the examinations
- Then, Submit a work verification form
- Lastly, Once you pass the exam you will receive a CGFM award letter
In what language can I give the exam?
English
How many questions are there in the Certified Government Financial Manager (CGFM) Exam?
115 questions
What is the minimum score to pass this exam?
You have to score at least 500 marks to pass this exam.
What is the Certified Government Financial Manager (CGFM)?
Certified Government Financial Manager (CGFM) is an exam that checks the candidate’s competency in governmental accounting, auditing, financial reporting, internal controls, and budgeting at the federal, state, and local levels and provides the candidate with a certification after the completion of the exam with results required.
What are the major topics covered under the syllabus of this exam?
The Governmental Environment
- Firstly, Organization, Structure, and Authority of government (15%)
- Secondly, Legally-Based Implications of the Government Financial Environment (20%)
- Thirdly, Government Management System (Cycle) (18%)
- Then, Governmental Financing Process (25%)
- Further, Concepts, Definitions, and Notions of Public Accountability (10%)
- Also, Ethics as Applied to the Governmental Environment (7%)
- Lastly, Electronic Services in Government (5%)
Governmental Accounting, Financial Reporting, and Budgeting
- General Knowledge Section (40%)
- State and Local Financial Accounting and Reporting (30%)
- Federal Financial Accounting and Reporting (30%)
Governmental Financial Management and Control
- Firstly, Financial Management Functions (30%)
- Secondly, Financial and Managerial Analysis Techniques (10%)
- Thirdly, Internal Controls (25%)
- Further, Performance Measurement/Metrics/Service Efforts and Accomplishments (SEA) (15%)
- Lastly, Auditing (20%)
Are there any mandatory prerequisites for this exam?
Following are the mandatory prerequisites of this exam –
- Firstly, A bachelor’s degree from a U.S. college or university that is accredited
- Lastly, Abide by AGA’s code of ethics
Who should take this exam?
A candidate who has at least 2 years of professional-level experience in the U.S government financial management in federal, state, or local government and know about one or more of the following areas:
- FIrstly, Financial systems design, implementation, or operation
- Secondly, The budget formation, execution, or analysis
- Thirdly, Accounting or auditing policy and procedure development, implementation or interpretation
- Further, Accounting or auditing standards-setting
- Then, Audit of financial operations, financial statements, internal controls, or compliance with laws and regulations
- Furthermore, Audit or evaluation of program performance or operations
- Also, Audit of contract compliance or costs
- Then, Financial report design or preparation
- Financial planning or analysis
- Further, Cost or program accounting systems or asset management systems development or operation
- Lastly, Information resources management or electronic data processing.