Sample Questions for the SFO® Exam
These questions are provided as a guide to the format of the questions found on the SFO exam. Rationales for the correct answer are also given to assist in studying for the exam. A full set of exam practice questions is also available to help you prepare for the SFO Certification.
Sample question for the SFO Exam Part 1: Accounting
Q: What does the "Function" describe in the Chart of Accounts?
A. The item for which
an expenditure is made
B. The activity being performed for which a service or material object is acquired
C. A way of classifying expenditures by physical location, budget or cost center
D. A plan of activities and procedures designed to accomplish a predetermined objective
A: The answer is B.
Rationale: Hartman, William T., School District Budgeting, second edition, Lanham, MD: ScarecrowEd, 2003
Sample question for the SFO Exam Part 2: School Business Management
Q: What is the primary purpose of a physical risk inspection?
A. To identify
potential maintenance issues
B. To identify potential future building needs
C. To identify potential entry points for intruders
D. To identify potential threats to the safety of students, staff, and the public
A: The answer is D.
Rationale: As a part of the risk management process, school business officials conduct physical inspections. These inspections attempt to identify any physical deficiency or procedural issue that might affect the safety of all persons using the building.
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