Certified Government Financial Manager (CGFM) Study Guide and Practice Tests


Certified Government Financial Manager (CGFM) Study Guide & Practice Tests!

(This covers the Certified Government Financial Manager (CGFM) Governmental Environment, Governmental Accounting, Financial Reporting and Budgeting, and Governmental Financial Management and Control Examinations)

For someone to be certified as a Financial Manager by the authority, he must pass the Certified Government Financial Manager (CGFM) exam. A successful completion of the exam would earn an individual the certificate to practice as a financial manager.

The CGFM exam is administered by the AGA, Advancing Government Accountability.

checkExam Eligibility


• Bachelor’s degree earned from any recognized university or college.

• Proof of 24 semester or 36 quarters credit hours on the study of financial management course related subject such as accounting, auditing, budgeting, economics, electronic data processing, finance, information resources management, public administration, etc.



•  Complete the application form and submit appropriately with a non-refundable sum of $85 as application fee.

• Fax or mail the required documents for the exam as mentioned above not later than six months of submission of application form. Fax: 703.562.0361. Mailing Address: 2208 Mt. Vernon Avenue , Alexandria , VA   22301

checkExam Format


  • There Test is made up of three Examinations
  • 2 hours, 15 minutes are allotted for each of the exams

checkExam Content


arrowExam 1 (Governmental Environment)
115 Questions


  • 15% of questions on organization, structure and authority of Government.
  • 25% of questions legal Government Environment and other aspects of it.
  • 15% of questions on the management system of Government in terms of planning, budgeting, operations etc.
  • 25% of questions on financing process of Government.
  • 20% of questions ranging from definitions identification, role of ethics in Government, comprehension of financial management and skills.

arrowExam 2 (Government Financial Accounting, Budgeting and Reporting.

115 Questions


  • 40% of questions on general knowledge of Government’s financial budgeting, accounting and reporting.
  • 30% of questions demonstrating your understanding of local and state financial reporting and accounting.
  • 30% of questions demonstrating your comprehension of financial reporting and accounting in the Federal level.

arrowExam 3 (Government Financial management and control)

115 Questions


  • 25% of questions on internal controls
  • 25% of questions on external and auditing
  • 13% of questions on the measurement of performance report
  • 37% of questions on managerial and financial controls, techniques, analysis and concepts


Complete CGFM Study Guide and Practice Test Questions

Complete CGFM study guide prepared by a dedicated team of expert researchers. Effective, affordable help from the most comprehensive test preparation company in the world! Includes: Governmental Environment (Exam 1), Governmental Accounting, Financial Reporting and Budgeting (Exam 2), and Governmental Financial Management and Control Examinations, (Exam 3).

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