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AGA GAFRB Questions & Answers - in .pdf

GAFRB pdf
  • Total Q&A: 117
  • Update: Aug 21, 2026
  • Price: $59.99
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  • Vendor: AGA
  • Exam Code: GAFRB
  • Exam Name: Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB)
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Exact AGA GAFRB Exam Questions with Correct Answers, verified by Experts with years of Experience in IT Field.

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AGA GAFRB Q&A - Testing Engine

GAFRB Study Guide
  • Total Q&A: 117
  • Update: Aug 21, 2026
  • Price: $59.99
Testing Engine
  • Vendor: AGA
  • Exam Code: GAFRB
  • Exam Name: Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB)
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AGA GAFRB Exam Syllabus Topics:

TopicDetails
Topic 1
  • 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 2
  • 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 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
Available Languages:English
Certificate Validity Period:CGFM certification does not expire; requires ongoing CPE maintenance
Exam Price:USD 210 (standard non-member exam fee; member discounts may apply)
Passing Score:Scaled score 500 (on 200–700 scale)
Exam Format:Multiple-choice, Computer-based testing
Related Certifications:CGFM Exam 1: Governmental Environment
CGFM Exam 3: Governmental Financial Management and Control
Exam Duration:180 minutes
Real Exam Qty:115 multiple-choice questions
Recommended Training:AGA CGFM Exam Preparation Resources
AGA CGFM Study Materials
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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GAFRB Related Exams
GFMC - Examination 3: Governmental Financial Management and Control (GFMC)
Related Certifications
Government Financial Manager
AGA CGFM