CGFM Practice Test
Your Proven Shortcut to Certified Government Financial Manager Success
Get exam-style questions, detailed explanations, and realistic timing to master the latest Association of Government Accountants (AGA). Prepare CGFM practice test then walk into your Finance, Insurance and Real Est exam with confidence.
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How Our Practice Exam Works?
Study wherever, whenever with these quiz practice questions for CGFM:
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You can choose Study Mode for course preparation and Exam Mode (timed 90-minute) for simulation.
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CGFM exam questions reflect both multiple-choice and scenario/performance-style prompts aligned to exam objectives.
Detailed Explanations
Every question includes a clear explanation, so you know why an answer is correct.
Domain Analytics
See strengths/weaknesses by the domains & sub-topics to focus your revision.
Reattempts
Retake Certified Government Financial Manager practice exam to improve your speed and accuracy; watch your score trend toward the benchmark.
Exam Simulator
Get a feel for the real exam with our Association of Government Accountants (AGA) practice test.
Why Choose PrepHOW for CGFM Practice Questions
Train the way you'll be tested. With the most clinically accurate, expertly written question bank, you’ll build the speed, accuracy, and confidence needed to pass the Certified Government Financial Manager on your first attempt.
- 1. Practice & Exam modes to switch between learning and testing
- 2. Detailed answer explanations for every question
- 3. Instant scoring & feedback to show what you missed and why
- 4. Smart dashboard to track strengths, weaknesses, and progress
- 5. Study anywhere with mobile-friendly design
- 6. Updated CGFM questions bank to match the latest exam changes
- 7. Free practice test to start - no credit card required
Real Exam Feel
Mock Exam/Study modes, question flagging, and instant or end-of-exam feedback.
Smarter Analytics, Faster Improvement
Trend charts so you can see when you're consistently above the passing scrore.
Quality You Can Trust
Clear, teach-back explanations with why the correct answer is right and why others aren't.
Frequently Asked Questions
What is the CGFM certification?
The Certified Government Financial Manager (CGFM) is a professional certification awarded by the Association of Government Accountants (AGA) that demonstrates competency in governmental accounting, auditing, financial reporting, internal controls, and budgeting at the federal, state, and local levels.
What are the basic requirements to take the CGFM exam?
To qualify for CGFM certification, you need a bachelor's degree from an accredited institution in any field and two years of professional experience in government financial management or accounting. You can take the exams before completing your two years of experience, but the certification won't be formally issued until you meet the work requirement.
How many exams are in the CGFM program, and what topics do they cover?
The CGFM program consists of three separate, comprehensive examinations that cover the breadth of government financial management:
- Exam 1: Governmental Environment (Covers the structure, authority, legal environment, management system, and financing process of government.)
- Exam 2: Governmental Accounting, Financial Reporting, and Budgeting (Covers principles and standards for federal, state, and local government financial accounting, reporting, and budgeting.)
- Exam 3: Governmental Financial Management and Control (Covers financial management functions, internal control, performance measurement, and auditing.)
How should I prepare for the CGFM exams?
The AGA offers official study materials, including textbooks and online practice tests, which are the most directly aligned with the exam content. A strong study plan often involves:
- Reviewing the official AGA study guides.
- Taking Prephow CGFM practice tests to familiarize yourself with the question format.
- Joining a study group or forum.
- Gaining hands-on experience in a government financial role.
How difficult is the CGFM exam?
The difficulty is subjective, but the CGFM is known for its rigor. It requires a strong understanding of specialized topics like governmental accounting and fund structures, which are different from corporate accounting. Success depends heavily on relevant experience and dedicated study using official AGA resources and practice tests.
How long does it typically take to complete the certification?
The time varies according to your background, experience, and how intensively you study. Since the certification requires the bachelor’s degree, two years of experience, and three exams, the overall journey could span months to a year or more.
What are the benefits of obtaining the CGFM designation?
Some of the key benefits include: enhanced professional credibility in government financial management roles, improved job opportunities across federal, state and local government levels, and demonstration of commitment to advanced knowledge in public sector finance.
Is the CGFM certification worth it?
If your career is or will be focused on government finance, auditing or accounting, the CGFM can differentiate you by signaling proven expertise in that niche. Some caution that value depends on your job context and how you leverage the credential.
How do I schedule and take the CGFM exams?
Exams are offered year-round at Pearson VUE testing centers or through online remote proctoring. After your application is approved, you get an authorization to test, then book your slots directly with Pearson VUE. They're closed-book, so no notes, and results come right away if you pass.