Gfoa - Study guides, Class notes & Summaries

CPFO Compensation & Benefits Exam Questions with Complete Answers Latest Update 2024 Step and grade compensation model - Answers -Civil Service Model -Different grades and steps within each grade -Steps may be spaced out with incremental pay increases Key component of position control - Answers -Vacancy adjustments, inflation impacts, and compensation approaches are all key components of and effective budgeting of salary and wages. Budgeting of salary and wages - Answers -Salaries and wages...

Governments exist to provide services - Correct answer-no profit motive, no single measure of success Primary funding source = - Correct answer-taxes (involuntary payments, because there is no ability to match services to those who provide the resource) Budget process = - Correct answer-primary control device in government US Constitution provides two levels of government - Correct answer-Federal and State State consitituions similar in that each defines the excutive and legislative brache...

Benchmarking and Measuring Debt Capacity Exam Questions with Verified Solutions ( Rated A+) Why Are Capital Spending pressures harder to control than the operating budget? - Answers 1) Political Imperatives 2) Difficulty Establishing Budget Ceilings 3) Long-term Projects and Impacts 4) Incrementalism is not the norm 5) Fragmentation of financial controls Incrementalism is - Answers a budgetary pattern where resources dedicated to programs increase or decrease a small amount each ye...

CPFO-Treasury Investing Exam Questions and Answers Latest Update 2024 ( Already Passed) why do you want a master repurchase agreement? - Answers "Protects investor in bankruptcy. The lender and debtor agree to an ongoing schedule of loans and repayments, with agreed upon securities used as collateral. 1984, bankruptcy laws changed to provide investor claim on the collateral, gives them full access to the collateral." What are asset backed securities? - Answers Debt investments backed by ...

Government Sovereignty - Correct answer-Nat'l government can't be sued by states or by citizens w/out its permission. Government Authority - Correct answer-Derived from constitutions or charters (local versions of a constitution), statutes, executive orders & regulations. 3 Levels - Correct answer-1) National 2) State 3) Local The primary purpose of each is to provide services to citizens. Separate and distinct, yet they may coordinate their efforts. 3 Branches - Correct answer-1) Leg...

I1. A significant difference between special-purpose and general-purpose governments is that general-purpose governments - ANSWER-Correct Answer: perform multiple functions, while special-purpose governments are typically formed to perform one or two specific functions. I2. A commission that manages water and sewer services for several counties is an example of a - ANSWER-Correct Answer: jointly-governed organization. I3. A county commission meets to address the budget. In attendance are t...

GFOAT CGFO GLOSSARY 1-100 QUESTIONS AND CORECT ANSWERS 2024

Which of the following is an essential feature of a good budget process, as defined by the National Advisory Council on State and Local Budgeting (NACSLB)? a) Focuses budget decisions on results and outcomes b) Involves and promotes effective communication with stakeholders c) Establishes linkages to broad organizational goals d) All of the above - Correct Answer-d) All of the above Which of the following is a true statement regarding the advantages of line-item budgeting? a) It obscures...

Investment Policy Functions - Correct Answer-1. Statement of goals 2. Articulating the investment philosophy and risk tolerance 3. Demonstrates due diligence b/c the system follows a prudent set of procedures 4. Established internal controls 5. Provides guidance to staff and third parties 6. Risk management tool Typical Provisions of an Investment Policy - Correct Answer-1. Statement of goal(s), purpose, or mission 2. Identification of decision maker(s) 3. Statement of performance me...

CPFO Examination- Pensions schemes Investment Policy Functions - Correct Answer-1. Statement of goals 2. Articulating the investment philosophy and risk tolerance 3. Demonstrates due diligence b/c the system follows a prudent set of procedures 4. Established internal controls 5. Provides guidance to staff and third parties 6. Risk management tool Typical Provisions of an Investment Policy - Correct Answer-1. Statement of goal(s), purpose, or mission 2. Identification of decision maker(s...