A.L.G.A. CPE Quiz

Based on Local Government Auditing Quarterly, December 2007
Prepared by the A.L.G.A. Education Committee

Instructions: To complete the Quizzer, please fill in the blanks below and answer the questions.  Click the submit key when finished.  Member Services will provide you with your grade and CPE certificate within 10 business days.  The quizzer must receive a score of 75% or higher to receive credit, and can be taken one additional time if the initial score does not pass.

The Quizzer will qualify for CPE under the Government Auditing Standards, but A.L.G.A. does not guarantee that the Quizzer will meet the individual state CPA license requirements or the requirements of other professional associations.  You will need to make that determination for yourself based on the rules of your state board of accountancy.

 

Name  
Organization  
State or Province  
Email address  
Phone  

1. According to Gary Blackmer's article, "Opportunities for Improvement", what is a marvelous description of what we inherit with good   government?

   a. Infrastructure
   b. Commonwealth
   c. Prosperity
   d. Knowledge

2. Gary Blackmer also states that learning organizations evaluate past  efforts and tune their what?

   a. Performance to improve results
   b. Performance measurement instruments
   c. Musical Instruments
   d. Results to reflect their performance

3. According to the article, “Using Outside Experts to Audit Complex Technical Model” by Larry Brubaker, what is one of the challenges of being a performance auditor?

   a. Maintaining a knowledgeable staff
   b. Developing complex technical models
   c. Dating complex technical models
   d. Quickly developing expertise on the program or service being audited. 

4. Larry Brubaker indicates that making use of specialized expertise can be very helpful when studying complex or technical subjects.  However, the use of these experts does not eliminate what?

   a. The need to devote in-house resources to a project
   b. The need to complete the project in a timely manner
   c. The need to follow standards and quality control systems
   d. The need for speed

5. In the article, "Ever Had More Money than You Can Spend?", the author conclude that in many cases, lack of resources is not the reason for poor program performance, but what is?

   a. Not starting with the end in mind
   b. Lack of a vision
   c. Lack of management of available resources
   d. Not sharpening the saw

6. Which of the following is NOT a step used to test the valuation of derivative instruments using a model for pricing such as Black-Scholes Option Pricing Model?

   a. Assess the reasonableness and appropriateness of the model
   b. Compare the auditor's calculated fair value with the recorded one
   c. Compare the fair value with subsequent and recent transactions
   d. Compare the fair value to those recorded by other companies

7. In the article, "Considering the Potential Impacts of Florida House Bill 165 and Senate Bill 498" Melinda Miguel concludes what?

   a. This legislation is a step backward for Florida Government and will undoubtedly have a detrimental effect
   b. This legislation is well thought out and commendable
   c. This legislation depicts the core values of the Governor
   d. The legislation should not be vetoed

8. According to Kymber Waltmunson, when auditors act to support positive organizational change, back away from harsh pronouncements, and provide tools for success, we leave one route available to our customers:

   a. The road to perdition
   b. The road less traveled
   c. The golden bridge
   d. The golden parachute