10 exam-style questions with answers and explanations, straight from our 1,030-question bank. Tap an answer to check yourself. When you're ready, take the scored version in the free practice test.
The SFO exam has 150 questions and runs 3 hours 30 minutes.
These 10 free SFO questions are organized by exam domain, so you can see how each part of the Certified Administrator of School Finance and Operations blueprint is tested. Reveal the answer and explanation under each question.
Domain 1: Management of Accounting Systems 14% of exam
Question 1
An accounts payable clerk prepares electronic payment batches and maintains vendor bank details. The treasurer approves each batch's vendors and amounts, but bank details can still be edited afterward without another approval. An audit finds that a payment was redirected while its approved amount remained unchanged. Which system control would prevent this specific bypass?
Show answer & explanation
Correct answer: D - Lock approved payment instructions and require independent reapproval of any bank-detail change.
Question 2
September's bank statement shows $286,400; ledger cash is $293,450. Deposits in transit of $24,000 and outstanding checks of $18,600 are already recorded correctly in the ledger. A $150 bank fee is unrecorded. The bank also correctly paid a $5,800 vendor check that the district recorded as $4,300. There are no other differences. Which adjusted cash balance and net change to ledger cash complete the reconciliation?
Show answer & explanation
Correct answer: A - $291,800 adjusted cash; decrease ledger cash by $1,650.
Domain 2: Management of Accounting Functions 29% of exam
Question 3
The June 30 close includes two unpaid purchase orders. Classroom supplies were received, accepted, and used before year-end, but the invoice arrived in July. A separate order for art supplies will not be delivered until August. Prices are fixed, and the district uses modified accrual accounting for its governmental funds. At June 30, how should the two orders be treated?
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Correct answer: C - Accrue the received supplies as an expenditure and payable; keep the undelivered order as an encumbrance.
Question 4
Friday's payroll is $1,040,000. The district has $720,000 in unrestricted operating cash and will receive another $170,000 in unrestricted state aid on Thursday. A separate $260,000 bond account is legally restricted to construction. Board policy requires at least $100,000 in operating cash after payroll. With no other receipts or payments before that deadline, what is the minimum draw on an authorized short-term credit line?
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Correct answer: C - $250,000
Question 5
A reading coach was originally budgeted entirely to a federal grant. During the year, the district added duties serving an unrelated, locally funded assessment program. The coach's records distinguish the work performed for each activity. The grant still has enough money to cover the full salary. For the final salary charges, which allocation basis is supportable?
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Correct answer: A - The documented distribution of actual work benefiting each activity.
Domain 3: Financial Planning, Budget Planning, and Analysis 23% of exam
Question 6
A district balances its proposed operating budget by using proceeds from a one-time land sale to support existing salaries. Its multiyear forecast shows continuing reserve draws for the same staffing level, even though tax collections and state aid arrive on schedule. The treasurer recommends a larger short-term credit line as the solution. The underlying problem is:
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Correct answer: A - A recurring operating imbalance that borrowing cannot correct.
Question 7
Last fall, a district enrolled 260 third-graders; this fall, that cohort became 273 fourth-graders. This fall's third-grade enrollment is 320. For next year's fourth-grade budget, the district will apply that observed grade-to-grade progression ratio, with no separate enrollment adjustments. Classes may contain no more than 25 students, and each class requires one full-time teacher. There are no other grouping or capacity constraints. The resulting enrollment and minimum staffing projection is:
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Correct answer: D - 336 students and 14 teachers.
Domain 4: Risk Management Activities 7% of exam
Question 8
A district's claims-made-and-reported liability policy runs from July 1, 2025, through June 30, 2026. It covers otherwise eligible acts on or after July 1, 2023, and allows 30 additional days to report claims first made during the policy year. An alleged error occurred in September 2024; the district first received a written demand on June 12, 2026, and reported it to the insurer on July 10, 2026. With all other coverage conditions satisfied, the timing provisions mean that:
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Correct answer: B - The claim meets the policy's timing conditions through the reporting extension.
Domain 5: Management of School Facilities 7% of exam
Question 9
A tanker releases toxic vapor outside a school during classes. The fire incident commander reports that the building remains uncontaminated and both evacuation routes cross the plume. The school's designated shelter rooms are available. The immediate protective action should be to:
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Correct answer: D - Shelter in designated rooms, shut off outside-air intake, and account for everyone.
Domain 7: Management of Human Resource Functions 11% of exam
Question 10
Before receiving a job offer, a purchasing-specialist applicant requests a screen reader for a spreadsheet exercise because of a visual impairment. The software is readily available, and the exercise measures purchasing analysis, not unaided reading. How should the interview panel preserve a fair, job-related assessment?
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Correct answer: B - Provide the screen reader and apply the same purchasing-analysis scoring criteria.