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
A subrecipient on a federal grant fails to submit required financial reports. Who bears primary responsibility for monitoring subrecipient compliance?
Answer: The PI as pass-through entity representative
Under 2 CFR 200.332, the pass-through entity (and the PI as its representative) is responsible for monitoring subrecipient performance and compliance.
A PI discovers mid-project that a co-investigator must reduce effort from 20% to 5% due to a competing obligation. What must occur if the sponsor requires prior approval for significant changes?
Answer: Submit a prior approval request to the sponsor before the change takes effect
Most federal sponsors require prior approval for significant reductions in key personnel effort, typically defined as a 25% or greater reduction from the committed level.
Which financial management principle requires that expenditures on a grant be reasonable, allocable, and consistent with the project's scope?
Answer: Cost allowability standards under 2 CFR 200
2 CFR 200 establishes that allowable costs must be reasonable, allocable to the project, and consistent with applicable policies and award terms.
A PI receives a clinical trial industry contract specifying a fixed price per-patient payment. How should unspent funds at study closeout typically be handled?
Answer: Returned to the sponsor per contract terms
Industry-sponsored clinical trial contracts typically require any unspent funds at closeout to be returned to the sponsor unless the contract states otherwise.
A PI is planning a grant-funded international conference trip. Which of the following must be complied with for federally funded travel?
Answer: The Fly America Act, requiring use of U.S.-flag air carriers
The Fly America Act (49 U.S.C. 40118) requires that federally funded international travel be conducted on U.S.-flag air carriers unless a specific exception applies.
A PI receives an unfavorable peer review score but receives written encouragement from the program officer. What is the most appropriate next step?
Answer: Contact the program officer to discuss resubmission strategy and address reviewer critiques
Following reviewer critiques and consulting with the program officer is the standard strategy for improving and resubmitting an unfunded application.
Cost sharing that is voluntary committed in a proposal becomes binding. What is the primary risk if the PI fails to meet that commitment?
Answer: The institution may be found in noncompliance, jeopardizing future funding
Once voluntary committed cost sharing appears in an approved award, it becomes an obligation; failure to meet it constitutes noncompliance that can affect the institution's funding relationship with the sponsor.