CRA SESSION 2: UNIFORM GUIDANCE EXAM WITH ALL
CORRECT & 100% VERIFIED ANSWERS|LATEST UPDATE|
ALREADY GRADED A+
Uniform Guidance ✔Correct Answer-* The uniform guidance streamlines and supersedes guidance
that was previously contained in 8 different OMB circulars.
* Federal Funding agencies have been required to implement the Uniform Guidance.
* Included in the new guidance are definitions, uniform administrative requirements (both pre- and
post-award), cost principles, and audit requirements.
* From the university perspective, the Uniform Guidance will supersede OMB Circulars A-11-, A-21,
and A-133
What the Cost Principles do ✔Correct Answer-* Set uniform standards for costs.
* Requires that costs be allowable, allocable, reasonable, necessary, consistent and permissible.
* Identifies direct costs and indirect costs.
* Determination of F&A cost rates.
* Identifies unallowable costs:
- Alcoholic beverages
- Entertainment
- Fundraising expenses
- Lobbying
- Alumni Activities
- Bad debt
What the Administrative Requirements do (formerly A-110) ✔Correct Answer-* Pre-Award
Requirements
- Policies
- Debarment and Suspension
- Special Award Conditions
* Post-Award Requirements
- Financial and Program Management
- Property and Procurement Standards
- Termination and Enforcement
* After-the Award Requirements
- Closeout Procedures
- Continuing Responsibilities
- Collection of Amounts Due
, In what section of the Federal Register is the Uniform Guidance located? ✔Correct Answer-2 CFR
200
Uniform Guidance Subpart A ✔Correct Answer-200.1-99, Acronyms and Definitions
Uniform Guidance Subpart B ✔Correct Answer-200.100-199, General Provisions
Uniform Guidance Subpart C ✔Correct Answer-200.200-299, Pre-Award Requirements and
Contents of Federal Awards
Uniform Guidance Subpart D ✔Correct Answer-200.300-399, Post Federal Award Requirements
Uniform Guidance Subpart E ✔Correct Answer-200.400-499, The Cost Principles
Uniform Guidance Subpart F ✔Correct Answer-200.500-599, Audit Requirements
Uniform Guidance Appendix I ✔Correct Answer-Funding Opportunities
Uniform Guidance Appendix II ✔Correct Answer-Contract Provisions
Uniform Guidance Appendix III ✔Correct Answer-Indirect Costs (F&A)
Uniform Guidance Acronym: FAIN ✔Correct Answer-Federal Award Identification No.
Uniform Guidance Acronym: IHE ✔Correct Answer-Institution(s) of Higher Education
Uniform Guidance Acronym: COFAR ✔Correct Answer-Council on Financial Assistance Reform
Uniform Guidance Acronym: IBS ✔Correct Answer-Institutional Base Salary
Uniform Guidance: 200.12 Capital Assets ✔Correct Answer-Now includes software
Uniform Guidance: 200.22 Contract ✔Correct Answer-A legal instrument by which a non-Federal
entity purchases property or services needed to carry out the project or program under a Federal
award unless the transaction meets the definition of a sub award.
(Pay attention to the nature of the relationship)
Uniform Guidance: 200.23 Contractor ✔Correct Answer-Means an entity that receives a contract
as defined 200.22 contract. *New terminology replacing "vendor"*
Uniform Guidance: 200.48 General Purpose Equipment ✔Correct Answer-Now includes
information technology equipment and systems. *Computers fall here*
It's BEST to ensure computers are budgeted ahead of time!
Computers are considered supplies under $5k.
Uniform Guidance: 200.67 Micro-purchase ✔Correct Answer-Means a purchase of supplies or
services using simplified acquisition procedures, the aggregate amount of which does not exceed the
micro-purchase threshold.
CORRECT & 100% VERIFIED ANSWERS|LATEST UPDATE|
ALREADY GRADED A+
Uniform Guidance ✔Correct Answer-* The uniform guidance streamlines and supersedes guidance
that was previously contained in 8 different OMB circulars.
* Federal Funding agencies have been required to implement the Uniform Guidance.
* Included in the new guidance are definitions, uniform administrative requirements (both pre- and
post-award), cost principles, and audit requirements.
* From the university perspective, the Uniform Guidance will supersede OMB Circulars A-11-, A-21,
and A-133
What the Cost Principles do ✔Correct Answer-* Set uniform standards for costs.
* Requires that costs be allowable, allocable, reasonable, necessary, consistent and permissible.
* Identifies direct costs and indirect costs.
* Determination of F&A cost rates.
* Identifies unallowable costs:
- Alcoholic beverages
- Entertainment
- Fundraising expenses
- Lobbying
- Alumni Activities
- Bad debt
What the Administrative Requirements do (formerly A-110) ✔Correct Answer-* Pre-Award
Requirements
- Policies
- Debarment and Suspension
- Special Award Conditions
* Post-Award Requirements
- Financial and Program Management
- Property and Procurement Standards
- Termination and Enforcement
* After-the Award Requirements
- Closeout Procedures
- Continuing Responsibilities
- Collection of Amounts Due
, In what section of the Federal Register is the Uniform Guidance located? ✔Correct Answer-2 CFR
200
Uniform Guidance Subpart A ✔Correct Answer-200.1-99, Acronyms and Definitions
Uniform Guidance Subpart B ✔Correct Answer-200.100-199, General Provisions
Uniform Guidance Subpart C ✔Correct Answer-200.200-299, Pre-Award Requirements and
Contents of Federal Awards
Uniform Guidance Subpart D ✔Correct Answer-200.300-399, Post Federal Award Requirements
Uniform Guidance Subpart E ✔Correct Answer-200.400-499, The Cost Principles
Uniform Guidance Subpart F ✔Correct Answer-200.500-599, Audit Requirements
Uniform Guidance Appendix I ✔Correct Answer-Funding Opportunities
Uniform Guidance Appendix II ✔Correct Answer-Contract Provisions
Uniform Guidance Appendix III ✔Correct Answer-Indirect Costs (F&A)
Uniform Guidance Acronym: FAIN ✔Correct Answer-Federal Award Identification No.
Uniform Guidance Acronym: IHE ✔Correct Answer-Institution(s) of Higher Education
Uniform Guidance Acronym: COFAR ✔Correct Answer-Council on Financial Assistance Reform
Uniform Guidance Acronym: IBS ✔Correct Answer-Institutional Base Salary
Uniform Guidance: 200.12 Capital Assets ✔Correct Answer-Now includes software
Uniform Guidance: 200.22 Contract ✔Correct Answer-A legal instrument by which a non-Federal
entity purchases property or services needed to carry out the project or program under a Federal
award unless the transaction meets the definition of a sub award.
(Pay attention to the nature of the relationship)
Uniform Guidance: 200.23 Contractor ✔Correct Answer-Means an entity that receives a contract
as defined 200.22 contract. *New terminology replacing "vendor"*
Uniform Guidance: 200.48 General Purpose Equipment ✔Correct Answer-Now includes
information technology equipment and systems. *Computers fall here*
It's BEST to ensure computers are budgeted ahead of time!
Computers are considered supplies under $5k.
Uniform Guidance: 200.67 Micro-purchase ✔Correct Answer-Means a purchase of supplies or
services using simplified acquisition procedures, the aggregate amount of which does not exceed the
micro-purchase threshold.
