Municipal Finance Admin Exam
Questions and Answers Graded A+
Five Types of Local Gov't - Correct answer-1. counties
2. municipalities
3. school districts
4. local authorities
5. special districts
How many counties are there in New Jersey? - Correct answer-Twenty-one (21)
How are counties classified? - Correct answer-Classified on the basis of size,
geographical area, and population density
How many municipalities are there in New Jersey? - Correct answer-Five hundred
sixty-five (565)
Four forms of Local Gov't - Correct answer-1. Commission Act of 1911 (Walsh
Act)
2. Municipal Manager Act of 1923
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,3. Optional Municipal Chart Law (Faulkner Act)
- council-manager
- council-mayor
- "small municipalities" (pop. under 12,000)
- mayor-council-admin.
4. Legislative changes
Property Taxes - Correct answer-Major source of revenue for local government
Municipal Certified Finance Officer Certification Law - Correct answer-Chapter
110 of the Laws of 1988
Finance is a .... - Correct answer-What is a staff activity?
What does PEERA stand for? - Correct answer-What is the acronym Public
Employer-Employee Relations Act of 1968 (Collective Bargaining)
What are the primary functions of the Tax Collector? - Correct answer-1. receive &
collect moneys assessed or raised by taxation or assessment
2. enter into the suitable books of accounts all receipts received in a day
3. deposit such public moneys in an authorized public depository
4. prepare monthly reports to the governing body
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, 5. prepare & furnish a detailed list of all delinquent tax payers
6. conduct a tax sale of delinquent taxes
What are the primary functions of the Tax Assessor?* - Correct answer-1. ascertain
the names of owners of all real property
2. determine the full and fair value of each real property
3. on or before Jan. 10, audit & determine the taxable valuations of each taxpayer
4. determine the taxable value of tangible personal property not used in business
5. compile a tax list and duplicate
What does the DLGS stand for? - Correct answer-Division of Local Government
Services
Name the five major components of the DLGS? - Correct answer-1. Bureau of
Financial & Assistance
2. Bureau of Local Management Services
3. Bureau of Authority Regulation
4. Office of Local Government Research
5. Local Finance Board
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Questions and Answers Graded A+
Five Types of Local Gov't - Correct answer-1. counties
2. municipalities
3. school districts
4. local authorities
5. special districts
How many counties are there in New Jersey? - Correct answer-Twenty-one (21)
How are counties classified? - Correct answer-Classified on the basis of size,
geographical area, and population density
How many municipalities are there in New Jersey? - Correct answer-Five hundred
sixty-five (565)
Four forms of Local Gov't - Correct answer-1. Commission Act of 1911 (Walsh
Act)
2. Municipal Manager Act of 1923
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,3. Optional Municipal Chart Law (Faulkner Act)
- council-manager
- council-mayor
- "small municipalities" (pop. under 12,000)
- mayor-council-admin.
4. Legislative changes
Property Taxes - Correct answer-Major source of revenue for local government
Municipal Certified Finance Officer Certification Law - Correct answer-Chapter
110 of the Laws of 1988
Finance is a .... - Correct answer-What is a staff activity?
What does PEERA stand for? - Correct answer-What is the acronym Public
Employer-Employee Relations Act of 1968 (Collective Bargaining)
What are the primary functions of the Tax Collector? - Correct answer-1. receive &
collect moneys assessed or raised by taxation or assessment
2. enter into the suitable books of accounts all receipts received in a day
3. deposit such public moneys in an authorized public depository
4. prepare monthly reports to the governing body
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
, 5. prepare & furnish a detailed list of all delinquent tax payers
6. conduct a tax sale of delinquent taxes
What are the primary functions of the Tax Assessor?* - Correct answer-1. ascertain
the names of owners of all real property
2. determine the full and fair value of each real property
3. on or before Jan. 10, audit & determine the taxable valuations of each taxpayer
4. determine the taxable value of tangible personal property not used in business
5. compile a tax list and duplicate
What does the DLGS stand for? - Correct answer-Division of Local Government
Services
Name the five major components of the DLGS? - Correct answer-1. Bureau of
Financial & Assistance
2. Bureau of Local Management Services
3. Bureau of Authority Regulation
4. Office of Local Government Research
5. Local Finance Board
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
