CGMS Study Set questions with precise ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
detailed solutions ||\\//||
Order of Legal Precedence - correct answer✔✔Constitution, Federal Statutes, Federal Regs,
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
State/Local/Tribal Laws & Regs, Executive Orders, OMB Policies, Agency/Other Guidance, ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Federal Award Docs ||\\//|| ||\\//||
Federal Grant & Contract Agreement Act (FGCAA) - correct answer✔✔Defines funding ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
instruments (contracts, grants, cooperative agreements) to guide federal agencies in correct ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
use of funding instruments ||\\//|| ||\\//|| ||\\//||
Grant Performance & Results Act (GPRA) Modernization Act - correct answer✔✔Requires
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
that federal awarding agencies establish strategic plans that incorporate performance
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
measures
Federal Awardee Performance and Integrity Information System (FAPIIS) - correct ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔Web-based tool that is used to improve government's ability to evaluate business ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
ethics & performance quality of prospective grant recipients and contractors (agencies must
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
use for grants > $250,000) ||\\//|| ||\\//|| ||\\//|| ||\\//||
Interest earned must be returned if... - correct answer✔✔more than $500 of interest is||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
collected per year on federal cash balances ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Federal Funding Accountability & Transparency Act (FFATA) - correct answer✔✔Requires
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
full disclosure to the public of all entities or organizations receiving federal funds beginning
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
in fiscal year 2007
||\\//|| ||\\//|| ||\\//|| ||\\//||
3 systems for grants management (FP3) - correct answer✔✔(1) financial & performance
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
(2) procurement ||\\//||
, (3) property management ||\\//|| ||\\//||
Office of Management & Budget (OMB) - correct answer✔✔oversees the performance of
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
federal agencies and administers the federal budget ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Federal Financial Assistance Management Improvement Act (FFAMIA) - correct ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔required Office of Management and Budget (OMB) to streamline the federal ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
grant reporting process ||\\//|| ||\\//||
Financial & performance reports must be submitted how often? - correct ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔annually or quarterly ||\\//|| ||\\//||
Annual report must be submitted... - correct answer✔✔no later than 90 calendar days after
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
the required reporting period ||\\//|| ||\\//|| ||\\//||
Quarterly or semi-annual reports must be submitted... - correct answer✔✔no later then 30 ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
calendar days after the reporting period ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Final reports must be submitted... - correct answer✔✔no later than 120 calendar days after
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
the performance period end date ||\\//|| ||\\//|| ||\\//|| ||\\//||
No-cost extension - correct answer✔✔one-time extension of the period of performance by
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
up to 12 months -- requires prior written approval from awarding agency
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
3 procurement categories and $ thresholds - correct answer✔✔1. informal (at or below
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
$250k)
2. formal (above $250k)
||\\//|| ||\\//|| ||\\//||
3. noncompetitive
||\\//||
detailed solutions ||\\//||
Order of Legal Precedence - correct answer✔✔Constitution, Federal Statutes, Federal Regs,
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
State/Local/Tribal Laws & Regs, Executive Orders, OMB Policies, Agency/Other Guidance, ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Federal Award Docs ||\\//|| ||\\//||
Federal Grant & Contract Agreement Act (FGCAA) - correct answer✔✔Defines funding ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
instruments (contracts, grants, cooperative agreements) to guide federal agencies in correct ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
use of funding instruments ||\\//|| ||\\//|| ||\\//||
Grant Performance & Results Act (GPRA) Modernization Act - correct answer✔✔Requires
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
that federal awarding agencies establish strategic plans that incorporate performance
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
measures
Federal Awardee Performance and Integrity Information System (FAPIIS) - correct ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔Web-based tool that is used to improve government's ability to evaluate business ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
ethics & performance quality of prospective grant recipients and contractors (agencies must
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
use for grants > $250,000) ||\\//|| ||\\//|| ||\\//|| ||\\//||
Interest earned must be returned if... - correct answer✔✔more than $500 of interest is||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
collected per year on federal cash balances ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Federal Funding Accountability & Transparency Act (FFATA) - correct answer✔✔Requires
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
full disclosure to the public of all entities or organizations receiving federal funds beginning
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
in fiscal year 2007
||\\//|| ||\\//|| ||\\//|| ||\\//||
3 systems for grants management (FP3) - correct answer✔✔(1) financial & performance
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
(2) procurement ||\\//||
, (3) property management ||\\//|| ||\\//||
Office of Management & Budget (OMB) - correct answer✔✔oversees the performance of
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
federal agencies and administers the federal budget ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Federal Financial Assistance Management Improvement Act (FFAMIA) - correct ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔required Office of Management and Budget (OMB) to streamline the federal ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
grant reporting process ||\\//|| ||\\//||
Financial & performance reports must be submitted how often? - correct ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer✔✔annually or quarterly ||\\//|| ||\\//||
Annual report must be submitted... - correct answer✔✔no later than 90 calendar days after
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
the required reporting period ||\\//|| ||\\//|| ||\\//||
Quarterly or semi-annual reports must be submitted... - correct answer✔✔no later then 30 ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
calendar days after the reporting period ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Final reports must be submitted... - correct answer✔✔no later than 120 calendar days after
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
the performance period end date ||\\//|| ||\\//|| ||\\//|| ||\\//||
No-cost extension - correct answer✔✔one-time extension of the period of performance by
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
up to 12 months -- requires prior written approval from awarding agency
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
3 procurement categories and $ thresholds - correct answer✔✔1. informal (at or below
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
$250k)
2. formal (above $250k)
||\\//|| ||\\//|| ||\\//||
3. noncompetitive
||\\//||
