OFFERINGS_AND_AGREEMENTS_COMPREHENSIVE_EXAMINATION_TEST_2026_VERIFIED

OFFERINGS AND AGREEMENTS
COMPREHENSIVE EXAMINATION TEST
2026 VERIFIED QUESTIONS AND ANSWERS
GRADED A+

●● Cooperative Agreement. Answer: Similar to a grant but includes
substantial sponsor involvement during performance.


●● Contract. Answer: Procurement mechanism used to acquire goods or
services for the direct benefit of the sponsor; has binding deliverables.


●● Other Transaction Agreement (OTA). Answer: Flexible,
nontraditional funding instrument not subject to FAR or Uniform
Guidance; used for R&D and prototyping.


●● Intergovernmental Personnel Act (IPA) Agreement. Answer: Allows
university personnel to work temporarily at a federal agency while
retaining university employment status.


●● Sponsor Involvement (Grant). Answer: Minimal; sponsor monitors
but does not direct daily work.


●● Sponsor Involvement (Cooperative Agreement). Answer:
Substantial; sponsor collaborates in performance or technical direction.

, ●● Sponsor Involvement (Contract). Answer: High oversight;
deliverables and timelines strictly defined.


●● Performance Period (Grant). Answer: Defined in award; often
extendable with no-cost extension request.


●● Performance Period (Contract). Answer: Fixed duration; rarely
extended; extensions require modification.


●● Rebudgeting (Grant). Answer: Generally flexible within allowable
cost principles.


●● Rebudgeting (Contract). Answer: Restricted; changes often require
sponsor approval.


●● Applicable Regulations (Grant). Answer: Governed by 2 CFR 200
(Uniform Guidance).


●● Applicable Regulations (Contract). Answer: Governed by the Federal
Acquisition Regulation (FAR).


●● Solicited Proposal. Answer: Submitted in response to an official
sponsor solicitation such as an RFP, RFA, or FOA.