Practice Test Geeks(CRA) Certified Research Administrator Practice Test
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Financial Management of Sponsored Programs Flashcards

7 cards from real CRA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Financial Management of Sponsored Programs flashcards as text

  1. What is the minimum retention period for financial records related to federal awards under Uniform Guidance?

    Answer: 3 years from the submission of the final expenditure report

    Under 2 CFR Part 200.334, financial records must be retained for three years from the date of submission of the final expenditure report.

  2. Which of the following scenarios represents 'cost shifting' that violates federal regulations?

    Answer: Moving an overdraft on a completed federal grant to another active federal grant

    Cost shifting involves moving costs to a federal award that do not properly belong to it, such as transferring overruns from one federal project to cover shortfalls on another.

  3. A Negotiated Indirect Cost Rate Agreement (NICRA) is binding on:

    Answer: All federal agencies providing awards to the institution

    A NICRA is a government-wide agreement that all federal agencies must accept and apply when awarding funds to the institution.

  4. Under Uniform Guidance, which of the following salary charges to a federal award is NOT allowable?

    Answer: Salary exceeding the NIH salary cap for senior/key personnel

    NIH imposes an Executive Level II salary cap; any salary charged to NIH awards above this cap is unallowable and must be borne by the institution.

  5. Which method of effort reporting requires employees to report the percentage of time spent on each activity after the fact?

    Answer: Personnel Activity Reports (PARs)

    Personnel Activity Reports (PARs) are after-the-fact records completed by employees documenting the percentage of total compensated activity dedicated to each project.

  6. A PI requests a transfer of costs from one federal award to another 90 days after the original charge. The research administrator should:

    Answer: Require documentation of why the original charge was made in error

    Late cost transfers require strong documentation demonstrating the original charge was made in error, not merely as a budget management convenience.

  7. Which of the following is the best example of cost sharing that is REQUIRED by a federal sponsor?

    Answer: An NSF award specifies that the institution must provide 10% matching on direct costs

    Mandatory cost sharing occurs when the sponsor's program announcement or award terms require the recipient to contribute a specified portion of project costs.