Free Access AGA.CGFM.v2022-08-15.q92 Practice Test (Page 7)

Question 26

The intended purpose of The Single Audit Act is to:

A.help states schedule federal audits on a grant-by-grant basis.

B.promote cooperation between auditors.

C.perform audits under FASAB standards.

D.improve financial management of state financial programs.

Question 27

There are about 420 self-insurance pools regarding risk transfer, in America, many of which belong to the:

A.All of these

B.Risk and Insurance Management Society (RIMS)

C.Insurance management Institute of America

D.Association of Governmental Risk Pools (AGRIP)

Question 28

A program accountability study can be used to determine all of the following EXCEPT:

A.if budgets were allocated equitably.

B.the extent to which a program has been correctly implemented.

C.whether program funds are being expended properly.

D.whether the program is reaching its intended goal.

Question 29

Which of the following is NOT included in RFPs (Request for proposals) regarding audit?

A.Compensations and Terms of payment

B.Selection Criteria

C.Scope of work

D.Services furnished to the Auditor

Question 30

Eleven different types of funds, issued by Government Authorities, are classified into three major groups. Which one of the following statements represents those three groups?

A.Yearly, Semi annually and Quarterly

B.Governmental, Proprietary and Fiduciary

C.Governmental, State/Provincial, Local

D.Governmental, Fixed, Temporary

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Question 26

Question 27

Question 28

Question 29

Question 30

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