Most Recent AGA CGFM Exam Dumps

What Is GPRA? The Government Performance and Results Act (GPRA) of 1993 was designed to improve the performance of federal programs by requiring federal agencies to establish goals, measure performance, and report on their progress.

Stated Purposes of GPRA:

Improve Service Delivery (Option A): GPRA helps agencies align performance goals with customer needs, improving service delivery.

Improve Internal Management Practices (Option B): By requiring performance metrics and evaluations, GPRA enhances internal management and decision-making processes.

Improve Program Effectiveness (Option D): GPRA aims to make federal programs more effective by fostering accountability and linking resources to results.

Why Option C Is Incorrect:

GPRA does not provide detailed instructions on program reporting. While it requires agencies to report on their performance, it does not dictate the specific steps or instructions for reporting. Instead, agencies design their own reporting processes within the GPRA framework.

Reference and Documents:

Government Performance and Results Act of 1993: Stipulates the law's objectives but does not mention program reporting instructions.

GAO Report on GPRA Implementation: Highlights GPRA's purpose to improve performance management and accountability without prescribing reporting instructions.

Minimum Components of a Government Financial System:

A general ledger is the foundation of any financial system, providing a complete record of all financial transactions.

The definition of general ledger accounts ensures proper classification, tracking, and reporting of financial activities.

Explanation of Answer Choices:

A . Automated transaction processing: Incorrect. While automation is beneficial, it is not a 'minimum' requirement. Manual systems can still exist.

B . Debt-reduction analysis: Incorrect. This is a financial management activity, not a core component of the financial system.

C . Performance management reporting: Incorrect. Performance reporting is separate from the foundational financial system.

D . General ledger account definition: Correct. This is a fundamental element of any government financial system.

GAO, Standards for Internal Control in the Federal Government (Green Book).

GASB, Codification of Governmental Accounting and Financial Reporting Standards.

Why Verify Transit Use Before Taxi Use?

The program is intended for employees who commute by public transit. Verifying transit use on the day the taxi service was used ensures employees are adhering to program rules.

Random sampling is cost-effective and practical for identifying abuse without needing to review all records.

Why Other Options Are Incorrect:

A . Looking for individuals using the service more than 10 times: This only identifies overuse but does not confirm whether program rules were followed.

B . Checking destination addresses for hospitals/clinics: This assumes all emergencies involve medical visits, which is not always the case.

C . Matching destination addresses to home addresses: This does not confirm transit use and may not identify abuse of the program.

Reference and Documents:

GAO Fraud Prevention Guide: Recommends using random sampling to check compliance with program rules.

Best Practices for Internal Controls in Benefit Programs: Emphasizes verifying eligibility and usage to detect potential abuse.

Overview of the Prompt Payment Act (PPA):

The Prompt Payment Act (31 U.S.C. Chapter 39) requires federal agencies to pay vendors for goods and services in a timely manner.

If payment is not made within the required time frame (usually 30 days after receiving a proper invoice), the agency must pay interest penalties to the vendor for the late payment.

Explanation of Answer Choices:

A . Invoices immediately when received: Incorrect. Federal agencies are not required to pay invoices immediately; they must process payments within the specified timeframe.

B . Interest when an invoice is paid late: Correct. Agencies must pay interest penalties for late payments.

C . Invoices no later than 60 days after receipt of the invoice: Incorrect. The standard timeframe is 30 days unless otherwise specified in the contract.

D . Interest on intragovernmental invoices: Incorrect. The PPA does not apply to intragovernmental transactions.

Prompt Payment Act, 31 U.S.C. Chapter 39.

Regression Analysis:

Regression analysis is a statistical technique used to examine the relationships between a dependent variable (e.g., lottery ticket sales) and one or more independent variables (e.g., advertising, potential payouts, size of lottery cards).

This method helps quantify the extent to which each variable impacts sales.

Explanation of Answer Choices:

A . Content analysis: Incorrect. This method is used to analyze qualitative data (e.g., text or media) rather than numerical relationships.

B . Cost-benefit analysis: Incorrect. This technique evaluates the costs and benefits of a decision but does not identify the relationships between variables.

C . Regression analysis: Correct. This technique determines the impact of multiple variables on a single outcome.

D . Narrative analysis: Incorrect. This is used to analyze stories or qualitative information, not numerical data.

Association of Government Accountants (AGA), Data Analytics and Predictive Techniques in Government.