Select one of the courses below to see what you are capable of today.
GFMC Valuable Feedback, New GFMC Exam Duration
Our GFMC study braindumps for the overwhelming majority of users provide a powerful platform for the users to share. Here, the all users of the GFMC exam questions can through own ID number to log on to the platform and other users to share and exchange, each other to solve their difficulties in study or life. The GFMC Prep Guide provides user with not only a learning environment, but also create a learning atmosphere like home. And our GFMC exam questions will help you obtain the certification for sure.
As we all know that the better the products are, the more proffesional the according services are. So are our GFMC exam braindumps! Not only we provide the most effective GFMC study guide, but also we offer 24 hours online service to give our worthy customers GFMC guides and suggestions. Your time will be largely saved for our workers know about our GFMC practice materials better. Trust us and give yourself a chance to success!
New AGA GFMC Exam Duration & GFMC Latest Practice Questions
You may want to own a GFMC certificate to prove that you are competent and boost excellent practical abilities in some certain area. Thus you will be regarded as the capable people and be respected. Passing the test GFMC certification can help you realize your goals and if you buy our GFMC Guide Torrent you will pass the GFMC exam easily. Our GFMC exam questions are written by the most professional experts, so the quality of our GFMC learning material is wonderful. And we always keep our GFMC study guide the most updated for you to pass the exam.
AGA Examination 3: Governmental Financial Management and Control (GFMC) Sample Questions (Q66-Q71):
NEW QUESTION # 66
As a way to ensure fiduciary responsiblity, a government entity should include which of the following in its investment policy?
Answer: C
Explanation:
Why Include Permissible and Non-Permissible Investment Securities?
* Aninvestment policyoutlines the guidelines and restrictions for managing an entity's investments, ensuring compliance with laws and protecting public funds.
* Listingpermissible(e.g., government bonds, treasury securities) andnon-permissibleinvestments ensures clarity about what the entity can and cannot invest in, helping to mitigate risk and maintain fiduciary responsibility.
Why Other Options Are Incorrect:
* A. Prices and performance of investment securities:This information is important for monitoring investments but does not belong in the policy itself.
* C. Historical allocations of investment securities:Historical data informs decision-making but is not relevant to the rules governing investments.
* D. Key and non-key investment security controls:While controls are critical, they are part of the implementation process, not the investment policy.
References and Documents:
* GAO Investment Policy Guidelines:Recommends specifying permissible investments to ensure fiduciary responsibility.
* GFOA Best Practices in Investment Management:Emphasizes clear investment guidelines in the policy.
NEW QUESTION # 67
According to OMB Circular A-50, who holds personal responsibility for ensuring that disagreements with audit findings and recommendations are resolved?
Answer: C
Explanation:
What Does OMB Circular A-50 Require?
* OMB Circular A-50establishes policies for resolving and following up on audit findings and recommendations. It assignspersonal responsibilityto anaudit follow-up officialwithin the agency for ensuring that disagreements with audit findings are resolved and that corrective actions are implemented.
Why Is the Audit Follow-Up Official Responsible?
* The follow-up official ensures the agency responds appropriately to audit findings, tracks corrective actions, and resolves disagreements in a timely manner. This ensures accountability and compliance with audit recommendations.
Why Other Options Are Incorrect:
* A. Comptroller General:The Comptroller General leads the GAO and oversees audits but is not responsible for resolving disagreements within agencies.
* B. OMB Deputy Director for Management:Provides guidance on audit policies but does not hold personal responsibility for resolving disagreements.
* C. Inspector General:Performs audits and investigations but does not resolve disagreements over audit findings.
References and Documents:
* OMB Circular A-50:Specifies that the audit follow-up official holds responsibility for resolving disagreements.
* GAO Yellow Book:Discusses the roles and responsibilities of various officials in audit processes.
NEW QUESTION # 68
A purchasing officer is asked to select a vendor to provide office supplies. Which of the following vendors should be selected?
Answer: C
Explanation:
Why Select the Lowest Qualified Bidder?
* Procurement rules in government require selecting thelowest qualified bidderto ensure fairness, cost- efficiency, and compliance with procurement regulations.
* If the mayor's high school classmate's company meets the qualification criteria and provides the lowest bid, there is no conflict of interest unless favoritism or improper influence is proven.
Why Other Options Are Incorrect:
* B. Second lowest priced qualified bidder:Selecting the second lowest bidder without justification violates the principle of fairness and cost-efficiency.
* C. Third lowest bidder pending state disbarment:This vendor is not a qualified bidder due to pending disbarment.
* D. Highest priced qualified bidder with the highest quality products:If quality specifications are already met by lower bidders, selecting the highest-priced bidder is unjustifiable.
References and Documents:
* Federal Acquisition Regulation (FAR):Requires selecting the lowest qualified bidder.
* GAO Guide on Procurement Standards:Emphasizes fairness and cost-effectiveness in vendor selection.
NEW QUESTION # 69
To support optimal cash management vendor payment procedures, invoices with discount terms should be paid
Answer: C
Explanation:
Why Pay on the Discount Date?
* Discount termsare offered by vendors to encourage early payment, such as "2/10, net 30" (2% discount if paid within 10 days). Paying on the discount date ensures the organization takes advantage of cost savings while still making timely payments.
* This approach optimizes cash management by reducing payment obligations while maintaining good vendor relationships.
Why Other Options Are Incorrect:
* A. After the due date:Late payments can damage vendor relationships and incur penalties.
* B. Prior to the due date:Paying too early does not provide additional benefits and can unnecessarily deplete cash reserves.
* C. On the due date:If a discount is offered, waiting until the due date means missing the opportunity to save money.
References and Documents:
* GAO Financial Management Guide:Recommends paying invoices with discounts on the discount date to maximize cost savings.
* Best Practices in Governmental Cash Management (AGA):Highlights the importance of managing vendor payments to take advantage of discounts.
NEW QUESTION # 70
Performance measures that report the results of providing goods or services are known as
Answer: C
Explanation:
* Definition of Output Measures:
* Output measures trackthe results of providing goods or services, such as the number of items produced or services delivered.
* These measures focus onquantityrather than quality or outcomes.
* Explanation of Answer Choices:
* A. Activity measures: Incorrect. Activity measures refer to inputs or processes, not results.
* B. Outcome measures: Incorrect. Outcome measures assess the impact or effectiveness of a program, not the quantity of goods/services provided.
* C. Output measures: Correct. Output measures focus on results (e.g., number of services delivered).
* D. Workload measures: Incorrect. Workload measures assess the volume of work performed but do not necessarily report on the results.
:
GASB,Performance Measurement Concepts.
GAO,Performance Auditing Standards and Guidance.
NEW QUESTION # 71
......
First and foremost, we have high class operation system so we can assure you that you can start to prepare for the GFMC exam with our GFMC study materials only 5 to 10 minutes after payment. Second, once we have compiled a new version of the GFMC test question, we will send the latest version of our GFMC Training Materials to our customers for free during the whole year after purchasing. Last but not least, our worldwide after sale staffs will provide the most considerate after sale service on GFMC training guide for you in twenty four hours a day, seven days a week.
New GFMC Exam Duration: https://www.dumpstillvalid.com/GFMC-prep4sure-review.html
Our GFMC exam cram materials will be the shortcut for you, AGA GFMC Valuable Feedback The answer is yes, we respect the privacy of our customers, Our actual GFMC test braindumps guarantee you 100% pass exam certainly, Now, let's start your preparation with GFMC training material, Applicants can also make notes of printed GFMC exam material so they can use it anywhere in order to pass Examination 3: Governmental Financial Management and Control (GFMC) (GFMC) with a good score.
Attract and keep more visitors by improving your site's GFMC Latest Practice Questions responsiveness and loading speed, This book's content will be exceptionally helpful to both practitioners and students in all areas of supply chain management, GFMC customer service, and marketing, including participants in leading certification programs.
2025 100% Free GFMC –Professional 100% Free Valuable Feedback | New GFMC Exam Duration
Our GFMC exam cram materials will be the shortcut for you, The answer is yes, we respect the privacy of our customers, Our actual GFMC test braindumps guarantee you 100% pass exam certainly.
Now, let's start your preparation with GFMC training material, Applicants can also make notes of printed GFMC exam material so they can use it anywhere in order to pass Examination 3: Governmental Financial Management and Control (GFMC) (GFMC) with a good score.