Certified Research Administrator Practice Exam

What is one requirement for federal grant recipients regarding reporting?

1. They must submit quarterly financial reports

2. They are exempt from any reporting

3. They must complete a survey every year

4. They need to report only at project conclusion

The correct answer is: They must submit quarterly financial reports

Federal grant recipients are required to submit quarterly financial reports as part of their compliance and accountability measures when managing federal funds. This requirement ensures that grant recipients provide timely updates on their expenditures, enabling funding agencies to monitor the use of federal funds effectively. These reports typically include details on how the funds were spent, progress toward project goals, and any challenges encountered. Regular reporting allows for ongoing oversight and supports transparency, ensuring that the funds are being utilized appropriately and effectively according to the agreed-upon objectives. This requirement reflects the federal government's commitment to fiscal responsibility and safeguarding taxpayer dollars.