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AGA GAFRB Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Federal Financial Accounting and Reporting | 30% | - Federal budgeting concepts and processes - Federal financial statements and reporting
|
| Topic 2: State and Local Financial Accounting and Reporting | 30% | - Fund accounting and classification
- GASB standards and reporting entity definition
|
| Topic 3: Governmental Financial Accounting, Reporting and Budgeting: General Knowledge | 40% | - General concepts of budgeting
|
What to Know About the GAFRB Exam and Our Services
According to the latest exam information, the GAFRB exam contains 115 questions and runs for 135 minutes minutes. Simulating that exact limit in practice builds the pacing a tough exam demands.
The AGA Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB) blueprint centers on these domains:
- State and Local Financial Accounting and Reporting (30%)
- Governmental Financial Accounting, Reporting and Budgeting: General Knowledge (40%)
- Federal Financial Accounting and Reporting (30%)
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A team of IT experts and certified trainers with rich experience in the AGA Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB) field writes it — and keeps it honest. Every answer is expert-verified, the content is checked continuously for updates, and each new GAFRB version is emailed to you free for 365 days. Compared with training institutions, the bank is affordable and self-paced; compared with guesswork, it is systematic. Download the free demo first, and if anything goes wrong — even a simple downloading problem — 24/7 customer assistance is one message away.
AGA lists these official training options for candidates:
Structured training plus consistent self-practice covers both depth and exam readiness.
AGA states the following prerequisites for the AGA Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB): Bachelor's degree from accredited institution; no prior exam required; 2 years relevant experience needed before certification award.
Confirm the current requirements on the official certification page before you register.
Currently, the GAFRB exam requires a passing score of 60%, with a registration fee of $150 USD. AGA sets both figures, so verify the latest on the official site before scheduling.
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AGA Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB) Sample Questions:
The legal congressional permission for an executive branch department or agency to enter into an obligation that will result in an immediate or future outlay is referred to as
- A. a commitment authority.
- B. a transfer authority.
- C. a budget authority.
- D. an expenditure authority.
Correct Answer: C 🗳️
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Which of the following revenue sources is an exchange-like transaction?
- A. operating permits
- B. grants
- C. income taxes
- D. fines
Correct Answer: A 🗳️
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Using the cost recovery method of recognizing revenue, premiums are recognized as revenue
- A. when received.
- B. throughout the duration of the policy when claim costs are incurred.
- C. once the ultimate premium can be reasonably estimated.
- D. when the policy takes effect.
Correct Answer: B 🗳️
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Which federal agency activities would most likely use a trust fund to account for funds received and paid?
- A. provisions of benefits, goods or services financed by specific revenue sources
- B. general government programs receiving annual appropriations
- C. grant programs distributing funds awarded in prior years
- D. business-type operations financed by exchange revenues
Correct Answer: A 🗳️
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According to GASB, when should landfill closure and post-closure costs be recognized?
- A. when payments for costs are made
- B. every five years until the landfill is closed
- C. each year the landfill is operating
- D. when the landfill is closed
Correct Answer: C 🗳️
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