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M13_ Research (1)

Total questions: 11

Worksheet time: 30mins

Name
Class
Date
1.

A legal agreement where a sponsor purchases services to carry out a project.

a)

contract

b)

grant

2.

The duration of the project, start to finish as agreed upon

a)

Inception to Date

b)

Residual

c)

Period of Performance

d)

Year to Date

3.

This is Virginia Tech's portion of a projects cost. It is considered a real cost, but it is only allowed IF the sponsor required it.

a)

Direct Cost

b)

Indirect Cost

c)

Cost Share

4.

SELECT ALL THAT APPLY: A purchase on a sponsored project MUST be...

a)

reasonable

b)

necessary

c)

allocable and verifiable

d)

allowable under regulations

e)

consistent with project guidelines and within the time frame of the project

5.

These funds are created to accept the cost of items that cannot be charged to a project. This could include facilities, administrative functions to support the project, or supplies. This is calculated from the Federal Rate Agreement by the Office of Naval Research.

a)

Direct Cost

b)

Indirect Cost

c)

Cost Share

6.

What system is designed to allow OSP PAN Requests to be submitted by Post Award Administrators to the Processors for review and entry, as well as provide a location for PIs, Fund Managers and Business Managers to view and review PANs?

a)

Pan Distribution

b)

Summit

c)

Research Financials

d)

Cayuse-454

7.

How long do financial records have to be retained on a sponsored project based on the Records Retention Policy?

a)

2 years

b)

3 years

c)

4 years

d)

5 years

8.

This team of associates expedites the set-up of new grants, cooperative agreements and contracts which have standard terms and conditions that do not require negotiation with the sponsor before acceptance.

a)

Pre-Award

b)

Contracts

c)

Post- Award

d)

Compliance

9.

This team strive to provide customer friendly support services to faculty and staff preparing and submitting research proposals to a wide array of external sponsors.

a)

Pre-Award

b)

Contracts

c)

Post-Award

d)

Compliance

10.

This team of associates offers expertise in financial accounting and contract administration and serves as a liaison with academic departments and sponsors, pre-award, the Controller’s Office, and Procurement Department.

a)

Pre-Award

b)

Contracts

c)

Post- Award

d)

Compliance

11.

This team monitors all of the financial transactions during a project to make sure they are in compliance with sponsor and university regulations.

a)

Pre-Award

b)

Contracts

c)

Post-Award

d)

Compliance