GFOA Exam CPFO Topic 2 Question 103 Discussion

Actual exam question for GFOA's CPFO exam

Question #: 103
Topic #: 2

[All CPFO Questions]

All of the following are core banking services EXCEPT:

AInvestment management

BSecurity services

CReconciliation Services

DConcentration and Zero balance

Show Suggested Answer

Suggested Answer: A

by Virgilio at Nov 15, 2024, 09:57 AM

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Murray

2 months ago

Concentration and zero balance? What is this, a bank for magicians?

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Rachael

2 months ago

B) Security services - that's a good one. Banks need to keep your money safe, but it's not their primary purpose.

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Jade

3 months ago

A) Investment management - nah, that's not a core service. Banks are there to hold your money, not manage your investments.

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Ettie

2 months ago

C) Reconciliation Services - yeah, that's important for making sure all the transactions are accurate.

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Chanel

2 months ago

B) Security services - that's definitely a core banking service. Banks need to keep our money safe.

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Steffanie

3 months ago

C) Reconciliation Services - that's definitely a core banking function. The other options seem more like value-added services.

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Annette

1 months ago

D) Concentration and Zero balance

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Brynn

1 months ago

C) Reconciliation Services

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Lavonne

1 months ago

B) Security services

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Louisa

2 months ago

A) Investment management

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Roselle

3 months ago

D) Concentration and Zero balance - that's way too specific to be a core banking service. Banks offer way more than just that.

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Melynda

2 months ago

C) Reconciliation Services

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Kimbery

2 months ago

B) Security services

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Kerry

2 months ago

A) Investment management

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Desirae

3 months ago

Hmm, I see your point. Maybe we should review the definitions of core banking services again.

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Hassie

3 months ago

I disagree, I believe the answer is D) Concentration and Zero balance.

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Desirae

4 months ago

I think the answer is A) Investment management.

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