CGMS Study Set questions with correct answers rated a+

CGMS Study Set questions with
correct answers rated a+
OrderdofdLegaldPrecedenced-
dCORRECTdANSWERSdConstitution,dFederaldStatutes,dFederaldRegs,dState/Local/TribaldLawsd&dRegs


,dExecutivedOrders,dOMBdPolicies,dAgency/OtherdGuidance,dFederaldAwarddDocs



FederaldGrantd&dContractdAgreementdActd(FGCAA)d-
dCORRECTdANSWERSdDefinesdfundingdinstrumentsd(contracts,dgrants,dcooperativedagreements)dto


dguidedfederaldagenciesdindcorrectdusedofdfundingdinstruments




GrantdPerformanced&dResultsdActd(GPRA)dModernizationdActd-
dCORRECTdANSWERSdRequiresdthatdfederaldawardingdagenciesdestablishdstrategicdplansdthatdincor


poratedperformancedmeasures



FederaldAwardeedPerformancedanddIntegritydInformationdSystemd(FAPIIS)d-
dCORRECTdANSWERSdWeb-


baseddtooldthatdisduseddtodimprovedgovernment'sdabilitydtodevaluatedbusinessdethicsd&dperforman
cedqualitydofdprospectivedgrantdrecipientsdanddcontractorsd(agenciesdmustdusedfordgrantsd>d$250,0
00)



Interestdearneddmustdbedreturneddif...d-
dCORRECTdANSWERSdmoredthand$500dofdinterestdisdcollecteddperdyeardondfederaldcashdbalances




FederaldFundingdAccountabilityd&dTransparencydActd(FFATA)d-
dCORRECTdANSWERSdRequiresdfullddisclosuredtodthedpublicdofdalldentitiesdordorganizationsdreceivin


gdfederaldfundsdbeginningdindfiscaldyeard2007



3dsystemsdfordgrantsdmanagementd(FP3)d-dCORRECTdANSWERSd(1)dfinanciald&dperformance

(2)dprocurement

(3)dpropertydmanagement

, OfficedofdManagementd&dBudgetd(OMB)d-
dCORRECTdANSWERSdoverseesdthedperformancedofdfederaldagenciesdanddadministersdthedfederaldb


udget



FederaldFinancialdAssistancedManagementdImprovementdActd(FFAMIA)d-
dCORRECTdANSWERSdrequireddOfficedofdManagementdanddBudgetd(OMB)dtodstreamlinedthedfeder


aldgrantdreportingdprocess



Financiald&dperformancedreportsdmustdbedsubmitteddhowdoften?d-
dCORRECTdANSWERSdannuallydordquarterly




Annualdreportdmustdbedsubmitted...d-
dCORRECTdANSWERSdnodlaterdthand90dcalendarddaysdafterdthedrequireddreportingdperiod




Quarterlydordsemi-annualdreportsdmustdbedsubmitted...d-
dCORRECTdANSWERSdnodlaterdthend30dcalendarddaysdafterdthedreportingdperiod




Finaldreportsdmustdbedsubmitted...d-
dCORRECTdANSWERSdnodlaterdthand120dcalendarddaysdafterdthedperformancedperioddendddate




No-costdextensiond-dCORRECTdANSWERSdone-
timedextensiondofdthedperioddofdperformancedbydupdtod12dmonthsd--
drequiresdpriordwrittendapprovaldfromdawardingdagency




3dprocurementdcategoriesdandd$dthresholdsd-dCORRECTdANSWERSd1.dinformald(atdordbelowd$250k)

2.dformald(aboved$250k)

3.dnoncompetitive