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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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Gerald
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
5 days 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
10 days ago
I remember practicing a question similar to this, and I think "Governmental" is definitely one of the categories.
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Casie
15 days 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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