GFOA CPFO Practice Questions| TestInsights

Question 1

Cash management program has all of the following components EXCEPT:

ATrained personnel

BA cash management policy

CSound investment practices

DNone of these

Correct : D

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ATrained personnel

BA cash management policy

CSound investment practices

DNone of these

Question 2

Which of the following is not included in general guidelines for a diversified investment portfolio?

ADo not over-concentrate securities from a specific issue or business sector

BInvest in securities that have varying maturities

CLimited investment in securities with higher credit risk

Dnever invest in readily liquid securities

Correct : D

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ADo not over-concentrate securities from a specific issue or business sector

BInvest in securities that have varying maturities

CLimited investment in securities with higher credit risk

Dnever invest in readily liquid securities

Question 3

The investment officer should report the status of investment at least quarterly (or monthly), including:

AA list of individual securities held at the end of the reporting period

BRealized and unrealized gains or losses resulting from appreciation or market value of securities

CAverage weighted yield to maturity of investments compared to applicable benchmarks.

DAll of these

Correct : D

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AA list of individual securities held at the end of the reporting period

BRealized and unrealized gains or losses resulting from appreciation or market value of securities

CAverage weighted yield to maturity of investments compared to applicable benchmarks.

DAll of these

Question 4

Banks offer following short-term, loans, EXCEPT:

AA line of credit against which a specified dollar amount may be drawn with interest paid, usually monthly

BBond anticipation notes (BANs) in anticipation of future long-term financing

CTax anticipation notes (TANs) or revenue anticipation of taxes or other revenue that will be received

DNone of these

Correct : D

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AA line of credit against which a specified dollar amount may be drawn with interest paid, usually monthly

BBond anticipation notes (BANs) in anticipation of future long-term financing

CTax anticipation notes (TANs) or revenue anticipation of taxes or other revenue that will be received

DNone of these

Question 5

The auditor(s) should:

I- Adequately plan the work and properly supervise assistants

II- Properly study internal accounting controls to determine their reliability

These points are the part of

AGeneral Standards

BField work Standards

CReporting Standards

DAll of these

Correct : B

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AGeneral Standards

BField work Standards

CReporting Standards

DAll of these

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