CRA FINANCIAL MANAGEMENT QUESTIONS - SPRING
2026 WITH ALL CORRECT & 100% VERIFIED ANSWERS|
LATEST UPDATE|ALREADY GRADED A+
Which of the following is true about cost allowability on Federal awards?
A. Costs must be necessary and reasonable for the performance of the award
B. Costs do not have to conform to sponsor limitations if they are justified
C. Costs should be accorded consistent treatment from institution to institution
D. Unallowable costs can be used to meet a cost share requirement ✔Correct Answer-A. Costs
must be necessary and reasonable for the performance of the award
Which of the following is an example of a typically allowable direct cost?
A. Principal Investigator salary
B. Administrative salary
C. Computing device
D. Dependent care costs ✔Correct Answer-A. Principal Investigator salary
Which of the following is an example of participant support cost?
A. Graduate student salary
B. Human subject incentive payment
C. Travel to attend a U.S. Department of Education supported workshop for teacher education
D. Honorarium for speaker to present at a conference ✔Correct Answer-C. Travel to attend a U.S.
Department of Education supported workshop for teacher education
A researcher at Stanford University will be running samples in her recharge center and sending the
results back to the CSU investigator for analysis. In this case, Stanford is a(n)...
A. Prime awardee
B. Subrecipient
C. Consultant
D. Vendor ✔Correct Answer-D. Vendor
A researcher at Stanford University will be running samples in her recharge center, analyzing the
data, and serving as a Co-PI on the project. In this case, Stanford is a(n)...
A. Prime awardee
B. Subrecipient
C. Consultant
D. Vendor ✔Correct Answer-B. Subrecipient
Salary over the NIH salary cap is which type of cost share?
A. Voluntary
B. Mandatory
C. Uncommitted
D. Salary over the NIH salary cap is not considered cost share because it is an unallowable cost
✔Correct Answer-D. Salary over the NIH salary cap is not considered cost share because it is an
unallowable cost
When is an administrative staff position NOT an allowable costs to a federally funded grant?
A. When the position plays a key role in the scope of work for the grant such as a center grant
, B. When the contributions of the position are unique to the requirements of the grant's scope of
work
C. When the role meets a the "Major Projects" definition and is soley tied to the specific project
management
D. Anytime ✔Correct Answer-D. Anytime
Under which circumstances can administrative costs be charged as direct costs on Federal awards?
A. Administrative costs can always be charged as direct costs with no additional justification
B. When an IHE does not have a negotiated F&A rate
C. When services are integral to the project and are included in the budget or have sponsor approval
and are not recovered as F&A
D. Administrative costs can never be charged as direct costs ✔Correct Answer-C. When services
are integral to the project and are included in the budget or have sponsor approval and are not
recovered as F&A
An investigator responding to an NIH solicitation that allows up to $300K per year is only requesting
$250K per year. Which budget type should be used?
A. Detailed budget
B. Modular budget
C. Consortium budget
D. Additional budget ✔Correct Answer-B. Modular budget
The administrative cap on federally-negotiated F&A for Institutions of Higher Education (IHEs) is
equal to?
A. 8%
B. 10%
C. 26%
D. 45% ✔Correct Answer-C. 26%
What is the effect of building new research facilities on the F&A rate?
A. Increases it
B. Decreases it
C. Increases it for one year, then decreases it
D. No effect ✔Correct Answer-A. Increases it
Definition of a predetermined indirect cost (F&A) rate:
A. established for past or current period; no carryforward provision
B. a rate established for a specified current or future period and is not subject to adjustment
C. Rate applicable to a specified current period with no adjustments
D. estimated rate used until actual rate is determined ✔Correct Answer-B. a rate established for a
specified current or future period and is not subject to adjustment
CAS 502 is responsible for:
A. accounting period
B. consistency in estimating, accumulating, and reporting
C. accounting for unallowable costs
D. consistency in allocating costs incurred for the same purpose ✔Correct Answer-D. consistency in
allocating costs incurred for the same purpose
Areas of concern for financial reporting
A. Appropriate use of funds
2026 WITH ALL CORRECT & 100% VERIFIED ANSWERS|
LATEST UPDATE|ALREADY GRADED A+
Which of the following is true about cost allowability on Federal awards?
A. Costs must be necessary and reasonable for the performance of the award
B. Costs do not have to conform to sponsor limitations if they are justified
C. Costs should be accorded consistent treatment from institution to institution
D. Unallowable costs can be used to meet a cost share requirement ✔Correct Answer-A. Costs
must be necessary and reasonable for the performance of the award
Which of the following is an example of a typically allowable direct cost?
A. Principal Investigator salary
B. Administrative salary
C. Computing device
D. Dependent care costs ✔Correct Answer-A. Principal Investigator salary
Which of the following is an example of participant support cost?
A. Graduate student salary
B. Human subject incentive payment
C. Travel to attend a U.S. Department of Education supported workshop for teacher education
D. Honorarium for speaker to present at a conference ✔Correct Answer-C. Travel to attend a U.S.
Department of Education supported workshop for teacher education
A researcher at Stanford University will be running samples in her recharge center and sending the
results back to the CSU investigator for analysis. In this case, Stanford is a(n)...
A. Prime awardee
B. Subrecipient
C. Consultant
D. Vendor ✔Correct Answer-D. Vendor
A researcher at Stanford University will be running samples in her recharge center, analyzing the
data, and serving as a Co-PI on the project. In this case, Stanford is a(n)...
A. Prime awardee
B. Subrecipient
C. Consultant
D. Vendor ✔Correct Answer-B. Subrecipient
Salary over the NIH salary cap is which type of cost share?
A. Voluntary
B. Mandatory
C. Uncommitted
D. Salary over the NIH salary cap is not considered cost share because it is an unallowable cost
✔Correct Answer-D. Salary over the NIH salary cap is not considered cost share because it is an
unallowable cost
When is an administrative staff position NOT an allowable costs to a federally funded grant?
A. When the position plays a key role in the scope of work for the grant such as a center grant
, B. When the contributions of the position are unique to the requirements of the grant's scope of
work
C. When the role meets a the "Major Projects" definition and is soley tied to the specific project
management
D. Anytime ✔Correct Answer-D. Anytime
Under which circumstances can administrative costs be charged as direct costs on Federal awards?
A. Administrative costs can always be charged as direct costs with no additional justification
B. When an IHE does not have a negotiated F&A rate
C. When services are integral to the project and are included in the budget or have sponsor approval
and are not recovered as F&A
D. Administrative costs can never be charged as direct costs ✔Correct Answer-C. When services
are integral to the project and are included in the budget or have sponsor approval and are not
recovered as F&A
An investigator responding to an NIH solicitation that allows up to $300K per year is only requesting
$250K per year. Which budget type should be used?
A. Detailed budget
B. Modular budget
C. Consortium budget
D. Additional budget ✔Correct Answer-B. Modular budget
The administrative cap on federally-negotiated F&A for Institutions of Higher Education (IHEs) is
equal to?
A. 8%
B. 10%
C. 26%
D. 45% ✔Correct Answer-C. 26%
What is the effect of building new research facilities on the F&A rate?
A. Increases it
B. Decreases it
C. Increases it for one year, then decreases it
D. No effect ✔Correct Answer-A. Increases it
Definition of a predetermined indirect cost (F&A) rate:
A. established for past or current period; no carryforward provision
B. a rate established for a specified current or future period and is not subject to adjustment
C. Rate applicable to a specified current period with no adjustments
D. estimated rate used until actual rate is determined ✔Correct Answer-B. a rate established for a
specified current or future period and is not subject to adjustment
CAS 502 is responsible for:
A. accounting period
B. consistency in estimating, accumulating, and reporting
C. accounting for unallowable costs
D. consistency in allocating costs incurred for the same purpose ✔Correct Answer-D. consistency in
allocating costs incurred for the same purpose
Areas of concern for financial reporting
A. Appropriate use of funds
