AGA Exam CGFM Topic 4 Question 28 Discussion

Actual exam question for AGA's CGFM exam

Question #: 28
Topic #: 4

[All CGFM Questions]

Pay.gov is an example of

Aa zero-balance account.

Ba concentration system.

Can electronic lockbox.

Da data warehouse system.

US. Treasury Pay.gov Website: Describes Pay.gov as an electronic lockbox for federal payment processing.
GAO Financial Management Systems Guide: Highlights the role of electronic lockboxes like Pay.gov in improving efficiency.

Show Suggested Answer

Suggested Answer: D

by Filiberto at Apr 20, 2023, 08:39 AM

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Theola

26 days ago

I'm just glad it's not a concentration system. Imagine having to gather all your payments in one place before sending them off. Talk about a headache!

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Shaquana

7 days ago

B: Yeah, I'm relieved it's an electronic lockbox instead.

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Jerry

12 days ago

A: I know, that would be a lot of work!

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Launa

28 days ago

Well, at least it's not a zero-balance account. That would be like trying to pay your taxes with pocket lint and a dream.

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Carolynn

30 days ago

Haha, imagine if Pay.gov was a data warehouse system. That would be like storing all your money in a virtual filing cabinet!

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Leonie

2 days ago

B) a concentration system.

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Rhea

2 days ago

A) a zero-balance account.

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Gaynell

2 months ago

I agree, C) an electronic lockbox is the right answer. The U.S. Treasury website and GAO guide confirm that Pay.gov is used for efficient electronic payment processing.

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Aracelis

1 months ago

It's great to see how Pay.gov is improving efficiency in federal payment processing.

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Lonny

1 months ago

Yes, the U.S. Treasury website and GAO guide both mention Pay.gov as an electronic lockbox.

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Rickie

1 months ago

I think C) an electronic lockbox is the correct answer.

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Jamie

2 months ago

The correct answer is C) an electronic lockbox. Pay.gov is specifically described as an electronic lockbox for federal payment processing, so this aligns with the information provided.

upvoted 0 times