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AGA GFMC Test Passed : Examination 3: Governmental Financial Management and Control (GFMC)

GFMC actual test
  • Exam Code: GFMC
  • Exam Name: Examination 3: Governmental Financial Management and Control (GFMC)
  • Updated: Jul 06, 2026
  • Q & A: 117 Questions and Answers
  • PDF Demo
  • PC Test Engine
  • Online Test Engine
  • Total Price: $59.99  

About AGA GFMC Exam

Three versions: PDF version, SOFT (PC Test Engine), APP (Online Test Engine)

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PDF version of GFMC test dump is suitable for printing out unlimited times and number of copies. It is available for examinees that who are used to studying on paper.

SOFT (PC Test Engine) of GFMC test dump is downloaded and installed unlimited times and number of personal computers. It can imitate the real test scene on the computer and have some special methods to help you master the test dumps questions and answers. The disadvantage is that SOFT (PC Test Engine) of GFMC test dump is only available for Window system (personal computer).

APP (Online Test Engine) of GFMC test dump contains all the functions of the SOFT (PC Test Engine). The difference is that APP (Online Test Engine) is available for all electronic products such as MP4, MP5, Mobile phone, Iwatch, not just for personal computer.

AGA GFMC Exam Syllabus Topics:

TopicDetails
Topic 1
  • Internal Control: This section of the exam measures the capabilities of compliance officers and internal auditors in implementing and evaluating internal control systems. It includes knowledge of COSO frameworks, OMB standards, and audit procedures aimed at fraud prevention and legal compliance. Candidates must understand roles and responsibilities related to internal control, risk assessment, reporting mechanisms, and enterprise risk management frameworks.
Topic 2
  • Financial and Managerial Analysis Techniques: This section of the exam measures the skills of budget analysts and financial managers in using quantitative tools and data to assess financial decisions. It includes techniques like trend and ratio analysis, forecasting, regression, and data analytics. It also tests understanding of data sources, reliability, and how forensic auditing can be used for deeper insight into financial activities.
Topic 3
  • Financial Management Functions: This section of the exam measures the competencies of public sector finance officers and treasury analysts in managing financial operations in government environments. It covers essential areas such as cash flow practices, investment strategy, debt recovery, and procurement processes. Candidates are expected to understand property and inventory systems, evaluate IT-based financial systems, and apply emerging technologies. Shared services and project management principles are also included as foundational knowledge areas.
Topic 4
  • Auditing: This section of the exam measures the auditing knowledge of financial controllers and government auditors. It focuses on audit standards, types of audits, the audit process, and the responsibilities of both auditors and auditees. Key topics include audit preparation, follow-up, independence, materiality, and the scope of the Single Audit Act. Candidates are also expected to be familiar with fieldwork, reporting, and confidentiality concerns relevant to public sector audits.
Topic 5
  • Performance Measurement
  • Metrics
  • Service Efforts and Accomplishments: This section of the exam measures the ability of program managers and strategic planners to align performance indicators with organizational outcomes. It covers the integration of financial and non-financial metrics with strategic goals, the importance of transparency and accountability, and how performance data informs budgetary decisions. Candidates must understand stakeholder engagement, baseline setting, legal compliance, and benchmark creation.

Reference: https://www.agacgfm.org/CGFM/Candidates/CGFMProcess/Examination/Exam3.aspx

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