Practice Test Geeks(CPI) Certified Principal Investigator Practice Test
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Project Management & Funding Flashcards

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

Read the first 7 Project Management & Funding flashcards as text

  1. A PI needs to purchase equipment costing $6,000 using federal grant funds. Which cost category does this item most likely fall under according to federal guidelines?

    Answer: Direct cost — supplies

    Under federal guidelines (2 CFR 200), equipment is defined as items costing $5,000 or more; items below that threshold are typically classified as supplies under direct costs.

  2. An NIH-funded PI wants to rebudget 30% of the total award from personnel to equipment. What action is required?

    Answer: Submit a prior approval request to NIH

    NIH requires prior approval when rebudgeting exceeds 25% of the total award, as this is considered a significant budget revision.

  3. Which document outlines the percentage of time a PI and key personnel commit to an NIH-funded project?

    Answer: Budget justification

    The budget justification details each person's effort as a percentage of their total work time (person-months) committed to the project.

  4. A PI's grant year ends in 60 days and funds remain unspent due to a site delay. What is the most appropriate first step?

    Answer: Request a no-cost extension from the sponsor

    A no-cost extension allows the PI to continue the project beyond the original end date without additional funds, resolving delays due to legitimate circumstances.

  5. Under 2 CFR 200, which of the following costs is explicitly unallowable on a federal grant?

    Answer: Alcoholic beverages for a project-related dinner

    2 CFR 200.423 explicitly lists alcoholic beverages as unallowable costs on federal awards.

  6. A PI submitting an NSF proposal must include a data management plan. What is the typical page limit for this section?

    Answer: 2 pages

    NSF requires a Data Management Plan of no more than 2 pages as a mandatory supplementary document in grant proposals.

  7. Facilities and Administrative (F&A) costs are recovered by the institution to cover which type of expenses?

    Answer: Overhead costs such as building maintenance and utilities

    F&A (indirect) costs reimburse the institution for overhead expenses like building use, utilities, and administrative support that support sponsored research.