Certified Government Financial Manager (CGFM) Practice Exam 2025 - Free CGFM Practice Questions and Study Guide

🧠 The #1 resource for your exam prep. With over 400 questions, flashcards, and realistic simulations, we’ve helped thousands pass on their first try, even with no prior experience.

🧭 What You'll Find on This Page:

  • ✅ How the exam works & what to expect
  • 🧠 400+ practice multiple choice questions + instant feedback
  • 📘 Downloadable PDF study guide
  • 💡 Flash cards, simulated exams & expert tips
  • 📊 Bonus: Track your progress and improve weak areas

Enhance your career as a Certified Government Financial Manager. Study with multiple choice questions and detailed explanations. Prepare effectively for your CGFM exam!

  • Over 400 questions
  • Flash cards
  • Simulated exam environment
  • Detailed explanations and deep dives
  • Progress tracking
  • Downloadable pdf study guide
logo
logo
logo

Find the option that is right for you!

All options are one-time payments.

$4.99

30 day premium pass

All the basics to get you started

  • Ad-free experience
  • View your previous attempt history
  • Mobile app access
  • In-depth explanations
  • 30 day premium pass access
👑$14.99 $35.99

6 month DELUXE genius pass (most popular)

Everything with the 30 day premium pass FOR 6 MONTHS! & the Ultimate Digital PDF Study Guide (BONUS)

  • Everything included in the premium pass
  • $35.99 value for $14.99! You save $21.00
  • + Access to the Ultimate Digital PDF Study Guide
  • + 6 months of premium pass access
  • + Priority support
$5.99 $9.99

Ultimate Digital PDF study guide

For those that prefer a more traditional form of learning

  • Available for instant download
  • Available offline
  • Comprehensive content
  • Detailed explanations
Image Description

About

Taking a step toward professional advancement, the Certified Government Financial Manager (CGFM) credential stands as a benchmark of excellence in government financial management. Whether you're looking to demonstrate competency to employers or seeking to deepen your understanding of financial management practices, passing the CGFM exam is crucial. This guide outlines everything you need to know to prepare effectively for your CGFM certification.

Understanding the CGFM Exam

The CGFM certification is governed by the Association of Government Accountants (AGA), aiming to uphold integrity and proficiency in government accounting and financial reporting. The exam is segmented into three distinct sections, each focusing on specific areas of government financial management.

Exam Structure and Format

The CGFM exam is divided into the following sections:

  1. Governmental Environment: This part tests understanding of the context in which government financial managers operate, including the different levels and branches of government, and the legal structure.

  2. Governmental Accounting, Financial Reporting, and Budgeting: This section requires a grasp of financial statements and reports, budgetary accounting, and financial accountability.

  3. Governmental Financial Management and Control: It emphasizes skills in managing and controlling government financial activities, with attention to financial analysis techniques and internal control measures.

Each section consists of multiple-choice questions that assess your comprehension of theory and practical application within government financial management. The comprehensive nature of the exam ensures that only individuals with an all-round understanding advance through the certification process.

What to Expect on the Exam

Expect the CGFM examination to be rigorous, testing both your comprehension and ability to apply learned principles in practical scenarios.

  • Multiple Choice Questions: Each section comprises 115 questions, covering a wide array of topics within the scope of the CGFM curriculum.

  • Time Allocation: Candidates have two hours and fifteen minutes to complete each exam section, allowing ample time to ponder over and deliberate complex scenarios.

  • Scoring: The raw score out of the 115 questions is scaled to a maximum of 700. A candidate must achieve a score of 500 or more in each section to pass.

Understanding the structure and expectations of the exam will enable you to focus your study efforts effectively and approach the exam confidently.

Preparing for Success: Tips and Strategies

Success in the CGFM exam requires a strategic and well-rounded study plan. Below are tailored strategies to optimize your preparation.

Comprehensive Study Resources

  • Utilize Examzify: Maximize your study time by engaging with Examzify’s interactive quizzes and practice questions. The platform offers detailed explanations, giving insights into correct and incorrect answers.

  • Official Study Guides: Leverage official resources such as the CGFM Study Guides, which are tailored to each exam section, providing in-depth coverage of all relevant topics.

  • Workshops and Training: Consider attending workshops or online training sessions. These programs, typically led by certified professionals, can provide a structured learning environment and practical insights.

Study Strategies

  • Set a Schedule: Create a realistic study timetable that allocates regular, focused periods for each section of the exam, ensuring comprehensive coverage.

  • Join Study Groups: Engaging with peers preparing for the same exam can provide mutual support, accountability, and diverse insights.

  • Practice Tests: Regular mock tests will help you gauge your preparation levels and familiarize you with the exam format, reducing anxiety and building confidence for the actual exam.

Maintain a Balanced Approach

  • Stay Informed: Stay updated with any changes in the syllabus or exam format by frequently visiting the official AGA website.

  • Health is Wealth: Don't neglect your health. A well-rested mind performs significantly better. Incorporate regular breaks and healthy routines into your study schedule.

Resilience and Determination

The path to becoming a Certified Government Financial Manager requires dedication and resilience. Challenges will arise, yet a steady focus on your ultimate goal will serve as the north star guiding your preparation journey.

In preparation, set your sights high, lean on trusted resources, and approach the exam with unwavering confidence. Attaining the CGFM certification will not only validate your expertise but significantly elevate your professional standing, unlocking new career opportunities.

Embrace the challenge with diligence and enthusiasm. Your efforts today will pave the way for tomorrow's success in the realm of government financial management.

FAQs

What are the requirements to sit for the Certified Government Financial Manager (CGFM) exam?

To sit for the CGFM exam, candidates must have a valid bachelor's degree and at least two years of relevant governmental financial management experience. It's essential to prepare effectively by studying comprehensive resources available online to ensure readiness for this pivotal qualification.

How is the CGFM exam structured and what subjects does it cover?

The CGFM exam consists of three parts, focusing on governmental environment, financial management systems, and internal controls. Understanding these subjects thoroughly will provide a solid foundation, and utilizing online resources can enhance comprehension and retention.

What is the typical salary range for CGFM professionals in the United States?

CGFM professionals can expect to earn between $75,000 and $130,000 annually, depending on experience and location. For instance, in Washington D.C., salaries may be higher due to the competitive market, reflecting the demand for financial management expertise in government.

What tools and resources are recommended for preparing for the CGFM exam?

To adequately prepare for the CGFM exam, candidates should utilize study guides, take practice tests, and engage in study groups. Online platforms provide valuable resources, making them ideal for reviewing content and situating oneself for success on the exam day.

Can I retake the CGFM exam if I do not pass on the first attempt?

Yes, candidates can retake the CGFM exam if they do not pass. However, it is essential to identify areas of weakness and invest time in study resources, ensuring a well-rounded preparation before the next attempt for optimal results.

Reviews

4.44
Review ratingReview ratingReview ratingReview ratingReview rating
32 reviews

Rating breakdown

95%

of customers recommend this product

  • Review ratingReview ratingReview ratingReview ratingReview rating
    User avatar
    George M.

    Having just taken the CGFM exam, I'm relieved to say the questions I practiced mirrored the actual exam closely! The structure of the study app encourages a thorough understanding of government financial management. I couldn’t have asked for a better tool to prepare with! 5/5 stars.

    George M.- Verified Purchase
  • Review ratingReview ratingReview ratingReview ratingReview rating
    User avatar
    Tariq N.

    Successfully completed my CGFM exam last week, thanks to the valuable resources in the Examzify app. The way each question provides detailed answers was a great learning tool. I appreciated the thorough explanations that helped clarify difficult topics. Definitely feel ready for any future challenges! 5/5 stars.

    Tariq N.- Verified Purchase
  • Review ratingReview ratingReview ratingReview ratingReview rating
    User avatar
    Wang L.

    I just aced my CGFM exam, and I can’t thank this prep tool enough! The random questions and flashcards kept me engaged and really helped reinforce my learning. I feel confident in my financial management knowledge now, and I recommend this tool to anyone preparing for the certification. 5/5 stars.

    Wang L.- Verified Purchase
View all reviews
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy