SRFM Knowledge Check
SRFM Knowledge Check Quiz
Test your knowledge on Subrecipient policies and internal controls with our SRFM Knowledge Check Quiz. This quiz is designed for individuals seeking to enhance their understanding of essential topics in fund management and compliance.
- 10 engaging questions
- Multiple choice and checkbox formats
- Instant feedback on your performance
What is a Subrecipient?
A local organization receiving funds and in-kind donations from a prime organization, where prime is required to monitor subrecipients activities and spending.
When funding is given by a pass-through entity to carry out a portion of the tasks or goals outlined in the pass-through entity's award agreement with the donor, a subrecipient relationship is established.
An entity that receives a legal instrument (an agreement), by which an entity (subrecipient) purchases property or services in order to carry out a project or program under an agreement or federal award.
SRFM policy applies for:
Organizations receiving funds.
Organizations receiving cash contributions.
Organizations paid for contracted activities.
All of the above.
Subrecipients with total expense for the last 3 fiscal years averaged $300,000 are assessed on 8 sections.
True
False
Scaled down assessments do not have the Other Assets & Receivables as well as Inventory Management.
True
False
Internal Control Improvement Plan is a must for subrecipients scoring 68%
True
False
Internal Control Improvement Plan is prepared by CRS with cooperation of partner within 60 days of receipt of written notification from CRS.
True
False
Internal Control Improvement Plans can be a result of assessments or monitoring visits.
True
False
Monitoring Visit Report is prepared by both finance & programme staff.
True
False
Reporting period for Non-USG organizations is the same if the organization is receiving more than $50,000 or less
True
False
Review Coverage percentage for Monitoring Visits is different based on organization's assessment score.
True
False
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