Letter of Conditions
RD Apply
SAM.gov
Servicing
General
100

BABAA stands for

Build America Buy America Act

100

Entity must submit a/an ____ to assign roles and access the application in RD Apply

An ARR (Authorized Representative Request)

100

When registering, you may abbreviate the entity's legal name

False - Entity’s legal name when registered must be EXACT

100

GAAP stands for

Generally Accepted Accounting Principals

100

Your Login.gov account can be used to access multiple government agencies

True - With Login.gov you will be able to use the same login.gov username and passwords to access all login.gov partnering agency platforms

200

When releasing RD funds, first funds released are

Applicant's contribution

200

RD Staff reviews and approves ARRs

True

200

You need an account to use the SAM.gov system

False - You can search for the following public information on SAM.gov without a user account: Federal assistance listings, Contract opportunities, Contract awards, Entity exclusions and others.

200

Applicant must disburse all obligated funds within 3 years

False - 5 years

200

Financial statements should include at minimum

1.- Balance Sheet

2.- Budget with Revenues and Expenses

300

RD considers our primary customer to be

The applicant

300

Water and Sewer utility financials may be combined

False - Water and Sewer should always be split out. 

300

You must be associated with an entity to be assigned a role

True - You can request a role from your profile page.

300
Annual financial statements should be submitted in cash or accrual basis?

Accrual Basis

300

______ will be replace eAuth system

Login.gov

400

Reserve fund used to pay for repairs and/or replacement of major system assets

Short Lived Assets reserve fund

400
The uploaded balance sheet cannot be over ____ days old

90

400

An active SAM. gov registration must be maintained during the application process.

False - An active SAM.gov registration must be maintained for the life of the WEP loan or throughout the disbursement of the WEP grant, whichever is longer.

400

An annual audit is required if you expend $1,000,000 or more in Federal financial assistance per fiscal year

False - is required at $750,000 or more

400

How many years has Harold worked for CU?

30 Years

500

A Letter of Conditions constitutes loan and/or grant approval

It establishes conditions which must be understood and agreed before further consideration may be given to an application. The loan/grant will be considered approved when Form 1940-1 is signed by the Agency approval official.

500

How many tabs does a regular loan application have in RD Apply?

11

500

The first item an entity needs to get registered in SAM.GOV

Receive a UEI (Unique Entity Identifier) - this is only the first step.

500

How often does the Agency inspects the facility and conduct a review of their operations and records management system

Every 3 years for the life of the loan

500

Name the 4 specialist that presented today

Connie Petru

Jerry Moore

Elizabeth Sherrod

Norma Daniela Garnica

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