Certified Government Financial Manager (CGFM)

Certified government financial manager (CGFM) certification signals advanced professional mastery of governmental accounting, auditing, budgeting, and reporting. It also validates competence with the internal controls that federal, state, and local governments use to ensure compliance and prevent waste, fraud, and abuse.

The AGA issues the CGFM certification, which can help you qualify for advancement and differentiate yourself in the job market. Some employers may strongly prefer or require CGFM certification for high-level governmental accounting roles.

This guide explains the background you need to qualify for CGFM certification and the process you must follow to obtain it. Gauge your readiness and identify knowledge gaps before you invest in this career-enhancing credential.

To earn your CGFM certification, you must meet the AGA’s education, experience, and exam requirements. This multistep process involves applying for a credential review and receiving approval to sit for the three CGFM exams from the AGA. You must pass all three exams in the 18 months following your application processing date.

After passing your exams, you must verify you have two years of qualifying work experience. Once you meet all of the AGA’s standards, you receive your credential. To maintain your certification, you must pay annual renewal fees and satisfy continuing professional education (CPE) requirements.

Explore all the specifics in the sections below.

The AGA’s educational requirement is simple: You must have at least a bachelor’s degree from an accredited institution. While an accounting degree can best prepare you for these exams, degrees in any subject satisfy this requirement.

You must verify your education by forwarding your academic transcripts to the AGA. If you were educated outside the United States, the Association of International Credential Evaluators or the National Association of Credential Evaluation Services need to evaluate your transcripts.

To meet the AGA’s professional requirements, you must have at least two years of paid experience in government accounting or finance. You can sit for the CGFM exams before accumulating your experience, but the AGA will not formally issue your credential until you satisfy the experience requirement in full.

Private sector and nonprofit experience only qualifies if the work you do relates directly to the government. The AGA’s professional experience requirement page explains these technicalities in more detail.

The AGA’s CGFM program centers on three exams, which focus on:

You can sit for these closed-book exams in person at a Pearson VUE testing center, or arrange an online exam that a Pearson VUE representative proctors remotely. The AGA allows you to take the three exams in any order.

The following table covers additional details about the three CGFM exams:

All three CGFM exams use a scaled scoring system ranging from 200 to 700. You need at least a 500 to pass.

For each of your three CGFM exams, you learn whether you passed immediately after completing your session. If you pass, you receive a generalized notification confirming your success. If you do not pass, you receive a score and information about how you performed in each exam content area.

If you did not achieve a passing score, you can also access your score report online through your Pearson VUE account.

While you do not need membership with the AGA to sit for the CGFM exams, the organization must officially admit you to the CGFM program. To do so — and to complete the exam registration process — you must:

Pearson VUE issues the CGFM examinations year round, so you do not need to worry about annual testing windows.

If you do not pass an exam on your first attempt, the AGA does not limit how many times you can retake the test during your eligibility window. However, you must wait at least 30 days before your first retake and at least 60 days for all retakes beyond the first. You must also wait for at least seven days from the date of your failed test to register for a retake.

Fees apply to both your CGFM program application and to each of the three examinations.

Members of the AGA pay $90 to apply to the program, with student members receiving discounted access for $36. Nonmembers pay $120.

An exam fee of $150 applies to each of the three CGFM exams, including retakes.

The AGA does not specify how much time you should spend preparing for each exam. The organization also acknowledges that every CGFM candidate has different strengths and study needs. However, you should start studying early — even if you have extensive experience. The timed exam environment poses unique challenges.

With that in mind, consider these prep strategies:

To maintain your CGFM certification, you must do three things:

For more information, browse the AGA’s CPE requirements.

CGFM certification focuses uniquely on governmental accounting, and it is one of very few credentialing programs to do so. However, it does pair well with some other accounting and auditing credentials. Examples include the certified public accountant (CPA), certified internal auditor (CIA), and certified defense financial manager (CDFM) professional titles.

The CDFM credential merits particular attention, as it specifically relates to accounting and finance roles performed for the U.S. Department of Defense (DOD). If you work for the DOD in a financial capacity or aspire to, consider pursuing this certification. It is available from the Society of Defense Financial Management.

Learn More About Optional Certifications: