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GFOA CPFO Exam - Topic 12 Question 127 Discussion

Eleven different types of funds, issued by Government Authorities, are classified into three major groups. Which one of the following statements represents those three groups?
A) Governmental, Proprietary and Fiduciary
B) Governmental, State/Provincial, Local
C) Governmental, Fixed, Temporary
D) Yearly, Semi annually and Quarterly

GFOA CPFO Exam - Topic 12 Question 127 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 127
Topic #: 12
[All CPFO Questions]

Eleven different types of funds, issued by Government Authorities, are classified into three major groups. Which one of the following statements represents those three groups?

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Suggested Answer: A

by Carla at May 30, 2026, 06:04 AM

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Minna
5 days ago
D is definitely wrong. Those are timeframes.
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Veronica
10 days ago
C seems off. Fixed and temporary don’t fit.
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Ruby
15 days ago
I feel B is right. State and local are key.
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Shaun
20 days ago
I think it's A. Makes sense for fund types.
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Reta
25 days ago
I agree with Felicidad, that sounds right to me.
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Wade
1 month ago
Wait, are there really eleven types of funds? Sounds like a lot!
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Ellsworth
1 month ago
Definitely not D, that doesn't make sense!
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Nan
1 month ago
I thought it was Governmental, State/Provincial, Local.
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Felicidad
2 months ago
The three groups are Governmental, Proprietary, and Fiduciary.
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Gerald
2 months ago
I’m leaning towards option A, but I have a nagging feeling that there might be a more specific classification for government funds.
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Gearldine
2 months ago
I feel like "Proprietary" and "Fiduciary" were mentioned in our readings, but I can't recall if they are the right terms for this question.
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Bea
2 months ago
I remember practicing a question similar to this, and I think "Governmental" is definitely one of the categories.
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Casie
2 months ago
I think the three groups might be related to the types of government funds, but I'm not entirely sure which ones fit best.
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