GFMC Practice Test and Study Guide
AGA GFMC Exam Specifications
- Exam Code:
- GFMC
- Exam Name:
- Examination 3: Governmental Financial Management and Control (GFMC)
- Provider:
- AGA
- Time:
- 135 min
- Passing Percentage:
- 70%
- Version:
- 6.0
Question Types with Explanations
- 115 Single Select
115 Questions with Answers
- PDF Printable (Q & A)
- 3 Months
Key Features to Key Benefits
Real Exam-like Questions and Answers (115 total)
Expert-Curated Questions
Includes Detailed Explanations
Instant Access After Purchase
Secure Checkout
Regularly Updated Content
Free Demo Questions Available
Performance Tracking
Always-On Support Service
Skills Covered in Examination 3: Governmental Financial Management and Control (GFMC) (GFMC)
Examination 3: Governmental Financial Management and Control assesses the ability to apply government-wide and fund accounting, produce reliable financial reporting, and align budgeting with strategic priorities. It also develops practical skills in budgeting and execution, strengthening internal controls and risk management, managing liquidity and debt, administering grants and revenue, overseeing procurement and asset life cycles, and using performance measures to guide governance and accountability.
Essential Skills
- Mastery of government-wide accounting principles, fund accounting concepts, and financial reporting requirements.
- Understanding budget development, execution, and alignment with strategic plans.
- Implementing strong internal controls, risk assessment, and fraud prevention across programs.
- Managing cash flow, liquidity, treasury operations, and short-term and long-term investments.
- Overseeing debt management, issuances, service payments, and debt compliance.
- Administering grants, cost allocation, and revenue recognition for government programs.
- Coordinating procurement, contracting, vendor oversight, and procurement ethics.
- Supervising revenue administration, taxation, fees, and revenue forecasting.
- Managing asset registers, capital planning, depreciation, and asset lifecycle.
- Conducting performance measurement, financial analysis, and governance oversight.
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Real Exam Simulation Experience
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