Get real GAFRB exam questions for better preparation

Real AGA GAFRB practice exam questions for easy pass!

Updated: Sep 16, 2026

No. of Questions: 117 Questions & Answers with Testing Engine

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AGA GAFRB Exam Syllabus Topics:

TopicDetails
Topic 1
  • Governmental Financial Accounting, Reporting and Budgeting: General Knowledge:This section of the exam measures skills of government financial analysts and covers the unique aspects of governmental accounting that distinguish it from private sector practices, such as service over profit and the critical role of the budget. It emphasizes the objectives of financial reporting in the public sector, the role of standard-setting bodies like GASB, FASB, FASAB, and IPSASB, and the due process for setting accounting standards. It also includes knowledge of interperiod equity, budgetary compliance, sustainability, and the characteristics of quality financial information.
Topic 2
  • State and Local Financial Accounting and Reporting: This section of the exam measures skills of public sector accountants and focuses on applying GASB standards to define reporting entities and component units. It explores the structure and purpose of various fund types and the basis of accounting for each. Candidates must understand the format and content of the Annual Comprehensive Financial Report and the purpose of popular reports for public transparency.
Topic 3
  • Federal Financial Accounting and Reporting: This section of the exam measures skills of government financial analysts and covers the roles of FASAB, OMB, Treasury, and GAO in federal accounting. It includes an understanding of federal budgetary terminology and the federal budgetary equation. The section differentiates between budgetary and proprietary accounting and outlines the structure and use of various federal fund types. It explains how to record key budgetary transactions like appropriations and obligations and proprietary transactions such as payroll and depreciation.

Reference: https://www.agacgfm.org/CGFM/Candidates/CGFMProcess/Examination/Exam2.aspx

AGA GAFRB Exam Overview:

Certification Vendor:Association of Government Accountants (AGA)
Exam Name:Governmental Accounting, Financial Reporting and Budgeting (GAFRB)
Exam Number:CGFM Exam 2
Exam Price:USD 210 (standard non-member exam fee; member discounts may apply)
Exam Duration:180 minutes
Real Exam Qty:115 multiple-choice questions
Certificate Validity Period:CGFM certification does not expire; requires ongoing CPE maintenance
Related Certifications:CGFM Exam 3: Governmental Financial Management and Control
CGFM Exam 1: Governmental Environment
Exam Format:Computer-based testing, Multiple-choice
Available Languages:English
Passing Score:Scaled score 500 (on 200–700 scale)
Recommended Training:AGA CGFM Study Materials
AGA CGFM Exam Preparation Resources
Exam Registration:AGA Certification Overview
CGFM Exam Registration
Sample Questions:AGA GAFRB Sample Questions
Exam Way:Computer-based exam delivered at authorized testing centers (e.g., Pearson VUE network).
Pre Condition:CGFM certification requires passing three exams (Exam 1, Exam 2, Exam 3) and meeting government financial management experience requirements (typically 2 years).
Official Syllabus URL:https://www.agacgfm.org/CGFM/Overview.aspx

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Online Test Engine can supports Windows / Mac / Android / iOS, etc., because it is the software based on WEB browser. You can use it on any electronic device and practice with self-paced.
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