GFOA CPFO
Q: 1
Assume that the bank’s monthly costs are $12,250, the 30-day Treasury bill rate is 10.4%, and the
bank is subject to a 15% reserve requirement. What is the MCB (Minimum compensating balance)?
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Q: 2
Number of students enrolled, cost per student enrolled, year–end state test score and critical
thinking and application of knowledge. This is an example of measures in education sector. Match
these steps with the following appropriate list of types of measures.
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Q: 3
Because of the current financial measurement focus of the Governmental Funds, they do not report:
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Q: 4
The financial section of financial reports contains:
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Q: 5
Managerial accounting helps officials measure the cost-effectiveness of operations by:
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Q: 6
Other factors being equal, when the cost of inventory has increased over several financial statement
periods, an agency using LIFO will:
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Q: 7
Funds accounts for all unrestricted contributions, gifts and other income that can be used for any
purpose are known as?
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Q: 8
Revenue bonds are a liability limited to the pledged revenue. The issuer is thus not obligated
_________ to repay the debt.
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Q: 9
A275-day T-bill was purchased at a 0.6% discount and was sold at an 8.50% discount after a 30-day
holding period. What is the yield?
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Q: 10
Under the ___________ arrangement, governments completely outsource the reconciliation to the
bank, which reports items issued and paid, issued but not paid, and not yet issued.
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Question 1 of 10
