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Financial CPFO Exam Questions
Certified Public Finance Officer (CPFO) (Page 8 )

Updated On: 21-Feb-2026
Page 8 of 42
PDF with 203 Questions

The objective of financial and non-financial performance measures is to:

  1. demonstrate probity and legality in the handling of public funds.
  2. demonstrate taxpayer preference in allocation of funds.
  3. assess policy and reasonableness of budget allocation.
  4. assess government performance and program accountability.

Answer(s): D



What is the present value of $25,000 to be received 10 years from today if the opportunity rate is 4%, the current tax rate is 1% and the expected future value is 9%?

  1. $ 9,706
  2. $10,550
  3. $15,295
  4. $16,900

Answer(s): D



An agency receives miscellaneous revenue and investment revenue. The January beginning balance is $12,000. Monthly revenue is projected to be $2,000 and monthly expenses are projected to be $1,800. The agency plans to purchase a $10,000 90-day bond at par value on January 15. The agency has a $20,000 90-day bond that matures on February 15. What is the projected cash balance at the end of March?

  1. $11,400
  2. $12,600
  3. $22,600
  4. $32,600

Answer(s): C



An audit tool used to examine financial data to detect fraud is:

  1. red flag detection.
  2. compiling data.
  3. data mining.
  4. regression analysis.

Answer(s): C



Using purchasing cards for contract purchases creates efficiencies for all of the following EXCEPT:

  1. detection of fraudulent purchases.
  2. savings in transaction costs.
  3. improved cash flow for the vendor.
  4. streamlining payment in the accounts payable system.

Answer(s): A






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