CPFO: Certified Public Finance Officer (CPFO)
Free Practice Exam Questions (page: 9)
Updated On: 2-Jan-2026

Upon completion of a performance audit the auditee will be provided with a report that includes the audit objectives, methodology, results and:

  1. special purpose reports.
  2. test of internal controls.
  3. audit documentation.
  4. audit scope.

Answer(s): D



Internal controls are the primary responsibility of:

  1. the financial systems.
  2. internal auditors.
  3. management.
  4. external auditors.

Answer(s): C



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



Viewing page 9 of 52
Viewing questions 33 - 36 out of 203 questions



Post your Comments and Discuss Financial CPFO exam prep with other Community members:

CPFO Exam Discussions & Posts