Free GFOA CPFO Exam Actual Questions

The questions for CPFO were last updated On Nov 18, 2024

Question No. 1

Assume an inventory has an average monthly amount on hand of $200,000 and annual usage of $800,000. The amount of inventory turns is:

Show Answer Hide Answer
Correct Answer: B

Question No. 2

To find a nationally recognized bond counsel, governments can consult ____________ which lists

Show Answer Hide Answer
Correct Answer: A

Question No. 3

The city of Mudville uses 1600 oil filters annually. The cost of placing an order is $5.00. The unit cost is $3.50. The carrying cost is 20 percent, and the carrying cost per unit is &0.70(0.20x$3.50). What is the economic order quantity?

Show Answer Hide Answer
Correct Answer: A

Question No. 4

Governments should safely invest a high percentage of their available cash at competitive rates of return. The yield should be compared to a benchmark such as:

Show Answer Hide Answer
Correct Answer: D

Question No. 5

Initially Line item budgets were used by the local governments but afterwards more reformed practices has taken its place and grouped its purpose. Those refined and more manageable categories are all EXCEPT:

Show Answer Hide Answer
Correct Answer: D