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. A researcher charges $500 in lab supplies to a federal grant two days before the project end date, but the supplies are not received until three weeks after the end date. This charge is most likely:

    Answer: Unallowable because goods must be received within the project period

    Costs must generally be incurred within the project period; supplies received after the end date do not meet this requirement even if ordered earlier.

  2. Which financial statement is used to report cumulative expenditures on a federal grant to the sponsoring agency?

    Answer: SF-425

    The SF-425 (Federal Financial Report) is the standard form used to report financial status, including cumulative expenditures, on federal awards.

  3. What is the primary purpose of a budget justification in a grant proposal?

    Answer: To explain and support each cost element in the proposed budget

    A budget justification narratively explains each cost element, demonstrating that proposed costs are necessary, reasonable, and allocable to the project.

  4. Under 2 CFR Part 200, the concept of 'allocability' means a cost:

    Answer: Benefits the award proportionately and can be assigned with reasonable accuracy

    Allocability requires that a cost be assignable to a federal award in accordance with the relative benefits received, based on reasonable and consistent methods.

  5. A university's NIH grant has a 12-month no-cost extension approved. The original end date was June 30. The new end date is:

    Answer: June 30 of the following year

    A 12-month no-cost extension shifts the end date by exactly 12 months, from June 30 of the original year to June 30 of the following year.

  6. Which of the following is considered a direct cost on a sponsored research project?

    Answer: A graduate research assistant's stipend on the project

    A graduate research assistant whose effort is specifically dedicated to the sponsored project is a direct cost, identifiable with the particular project.

  7. The term 'program income' in sponsored research refers to:

    Answer: Gross income earned by the recipient directly generated by a supported activity

    Program income is gross income earned by a recipient that is directly generated by a supported activity or earned as a result of the federal award during the period of performance.