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GFOA CPFO Exam - Topic 6 Question 66 Discussion

The CAFR includes all of the following EXCEPT the:
D) PAR.
A) basic financial statements.
B) MD&A.
C) RSI.

GFOA CPFO Exam - Topic 6 Question 66 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 66
Topic #: 6
[All CPFO Questions]

The CAFR includes all of the following EXCEPT the:

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Suggested Answer: D

by Cordelia at Feb 27, 2023, 05:39 AM

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Jose
8 months ago
Just to clarify, CAFR = Comprehensive Annual Financial Report.
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Kimi
8 months ago
Agreed, it's all about transparency, but PAR is not in there.
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Kimberlie
9 months ago
Wait, are you sure about that? I thought PAR was included!
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Wilda
9 months ago
Definitely D, PAR isn't part of the CAFR.
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Emily
9 months ago
CAFR includes basic financial statements, MD&A, and RSI.
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Antione
9 months ago
I have a vague memory of RSI being included, but I can't recall if PAR is something different.
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Allene
9 months ago
I practiced a similar question about the MD&A section, and I think it’s always part of the CAFR.
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Royce
9 months ago
I think the basic financial statements are definitely included in the CAFR, so I’m leaning towards D as the answer.
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Leanora
9 months ago
I remember studying the components of the CAFR, but I'm not entirely sure what PAR stands for.
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Jani
9 months ago
Hmm, I'm a bit unsure about this one. I'll need to think through the different options carefully to determine which one best illustrates authentication control.
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Gracia
9 months ago
Ah, I see it now. The 'read a b c' assigns the values in reverse order, so the output will be the values in reverse as well. I think the answer is D.
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Ma
9 months ago
I can't recall if assessing credit risk was emphasized, but it sounds like it could help prevent issues before they happen!
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Malinda
9 months ago
I want to say Option C sounds right since it mentions "sufficiently serious malpractice." But I really can't recall the specific definitions we reviewed.
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Tyisha
1 year ago
If I had a dollar for every time I had to remember what's in the CAFR, I'd be rich enough to buy the whole exam!
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Lucille
1 year ago
D) PAR.
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Lindsey
1 year ago
C) RSI.
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Sunny
1 year ago
B) MD&A.
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Maryln
1 year ago
A) basic financial statements.
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Bobbye
1 year ago
D) PAR.
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Inocencia
1 year ago
C) RSI.
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Xochitl
1 year ago
B) MD&A.
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Helga
1 year ago
A) basic financial statements.
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Flo
1 year ago
Wait, what's a PAR? Is that some kind of financial statement I've never heard of? I'm just going to go with D and hope for the best.
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Milly
1 year ago
I'm a little confused, but I think C. RSI is the only thing not included in the CAFR. Am I right?
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Theresia
1 year ago
User 2: Yes, that's correct. The CAFR includes basic financial statements, MD&A, and PAR.
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Jade
1 year ago
User 1: I think you're right, RSI is not included in the CAFR.
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Xuan
1 year ago
I'm not sure, but I think D) PAR is the correct answer because it's the only one that doesn't seem to fit with the others.
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Eileen
1 year ago
The MD&A is definitely part of the CAFR, so B is the correct answer here.
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Junita
1 year ago
I agree with Gretchen, because the CAFR includes basic financial statements, MD&A, and RSI.
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Dana
1 year ago
I'm pretty sure the CAFR includes the basic financial statements, so I'm going with option D. PAR.
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Adela
1 year ago
No problem! It's always good to review and make sure we understand the different components of the CAFR.
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Christiane
1 year ago
Oh, I see. Thanks for clarifying that. I'll remember that for next time.
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Delisa
1 year ago
Actually, the CAFR does include the basic financial statements, but it does not include the PAR. So, the correct answer is D.
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Jesse
1 year ago
I think the CAFR includes the basic financial statements, so I'm going with option D. PAR.
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Gretchen
1 year ago
I think the answer is D) PAR.
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