Grant Writing FREE Grant Writing Post-Award Management and Reporting Questions and Answers 2

Question 1

Which federal system is primarily used to submit financial reports for grants awarded by U.S. federal agencies?

Accepted Answer

Federal Financial Report (SF-425)

Answer

Standard Form 270

Answer

OMB Circular A-133

Answer

DUNS Registration Portal

Question 2

What is the primary purpose of a grant closeout process?

Accepted Answer

To ensure all administrative, financial, and programmatic requirements are fulfilled before the grant period ends

Answer

To apply for a no-cost extension

Answer

To reallocate unspent funds to a new project

Answer

To submit a new grant proposal to the same funder

Question 3

A grantee discovers that actual expenditures will exceed the approved budget by 15%. What should they do first?

Accepted Answer

Request a formal budget modification from the funding agency

Answer

Spend the additional funds and report the overage in the final report

Answer

Transfer funds from another active grant

Answer

Reduce project scope without notifying the funder

Question 4

What does the term 'cost sharing' refer to in post-award grant management?

Accepted Answer

The portion of project costs not paid by the federal award that the grantee commits to cover

Answer

Splitting indirect costs between two federal agencies

Answer

Dividing grant funds equally among sub-awardees

Answer

Sharing office space costs with another funded organization

Question 5

Which type of audit is required for non-federal entities that expend $750,000 or more in federal awards during a fiscal year?

Accepted Answer

Single Audit under 2 CFR Part 200

Answer

Internal departmental review

Answer

Grant-specific program audit only

Answer

State comptroller certification

Question 6

What is the main risk of failing to submit required progress reports on time?

Accepted Answer

The funding agency may withhold future payments or suspend the award

Answer

The grant is automatically renewed for another cycle

Answer

The grantee receives a warning with no financial consequences

Answer

The project timeline is automatically extended