GFOA CPFO Exam Practice Test Instant Access

Question 1

Which of the following danger sign/s help to detect Auditors' fraud?

ABorrowing small amounts from fellow employees

BPronounced criticism of others, endearing to divert suspicion

CReplying to Questions with unreasonable explanations

DAll of these

Answer : D

Question 2

If the $20,000 is loaned at a stated interest rate of 10%with the requirement that an 18% minimum compensating balance be kept, the APR (annual percentage rate) is:

A12.07%

B12.00%

C12.2%

D13%

Answer : C

Question 3

Which of the following is not included in long-term credit products offered by banks?

ALong-term capital lease agreements

BBonds agreements

CA line of credit

DNone of these

Answer : C

Question 4

Most Government Issue bond in denominations of $5000, which underwriters call:

A'Five bonds''

BFives

CBase bonds

DBoth A&B

Answer : D

Question 5

To decide whether to issue bond publicly or privately ______________

AA cost comparison should be made

BA demo issue should be done

CAn international research on that issue should be done

DNone of these

Answer : A

Question 6

The Financial institution should adjust the collateral (related to securities) daily in response to market value changes known as:

AMarketing to market

BMarket to market

CMarketing securities

DNone of these

Answer : A

Question 7

EFT is most widely used for direct deposit of payroll but other common applications include all of the following EXCEPT:

APension benefit payments

BPayroll tax payments to the Internal Revenue Service

CElectronic benefits transfer to recipients of the food stamp, Supplemental Security Income (SSI), Social Security, and Temporary Assistance to Needy Families (TANF) programs

DNone of these

Answer : D

GFOA CPFO Certified Public Finance Officer Exam Practice Test