Compliance

Description: This quiz is designed to assess your understanding of compliance in the context of higher education finance and funding.
Number of Questions: 15
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Tags: compliance higher education finance funding
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What is the primary purpose of compliance in higher education finance and funding?

  1. To ensure that institutions are using funds in accordance with applicable laws and regulations.

  2. To protect the interests of students and their families.

  3. To promote transparency and accountability in the use of public funds.

  4. All of the above.


Correct Option: D
Explanation:

Compliance in higher education finance and funding serves multiple purposes, including ensuring compliance with laws and regulations, protecting the interests of students and families, and promoting transparency and accountability in the use of public funds.

Which federal agency is responsible for enforcing compliance with Title IV of the Higher Education Act of 1965?

  1. The Department of Education.

  2. The Department of Justice.

  3. The Securities and Exchange Commission.

  4. The Internal Revenue Service.


Correct Option: A
Explanation:

The Department of Education is responsible for enforcing compliance with Title IV of the Higher Education Act of 1965, which governs federal student financial aid programs.

What is the primary purpose of the Single Audit Act of 1984?

  1. To ensure that institutions are using federal funds in accordance with applicable laws and regulations.

  2. To promote transparency and accountability in the use of federal funds.

  3. To reduce the burden of audits on institutions.

  4. All of the above.


Correct Option: D
Explanation:

The Single Audit Act of 1984 has multiple purposes, including ensuring compliance with laws and regulations, promoting transparency and accountability, and reducing the burden of audits on institutions.

What is the role of the Institutional Review Board (IRB) in compliance with human subjects research?

  1. To review and approve research protocols involving human subjects.

  2. To ensure that research is conducted in accordance with ethical principles.

  3. To protect the rights and welfare of human subjects.

  4. All of the above.


Correct Option: D
Explanation:

The IRB is responsible for reviewing and approving research protocols involving human subjects, ensuring that research is conducted in accordance with ethical principles, and protecting the rights and welfare of human subjects.

What is the primary purpose of the Family Educational Rights and Privacy Act (FERPA)?

  1. To protect the privacy of student educational records.

  2. To ensure that students have access to their educational records.

  3. To promote transparency and accountability in the use of student data.

  4. All of the above.


Correct Option: D
Explanation:

FERPA has multiple purposes, including protecting the privacy of student educational records, ensuring that students have access to their educational records, and promoting transparency and accountability in the use of student data.

What is the role of the Office of Inspector General (OIG) in compliance with higher education finance and funding?

  1. To conduct audits and investigations of institutions receiving federal funds.

  2. To promote transparency and accountability in the use of federal funds.

  3. To protect the interests of students and their families.

  4. All of the above.


Correct Option: D
Explanation:

The OIG conducts audits and investigations of institutions receiving federal funds, promotes transparency and accountability in the use of federal funds, and protects the interests of students and their families.

What is the primary purpose of the Clery Act?

  1. To require institutions to disclose information about campus crime and security.

  2. To promote transparency and accountability in campus safety.

  3. To protect the interests of students and their families.

  4. All of the above.


Correct Option: D
Explanation:

The Clery Act requires institutions to disclose information about campus crime and security, promotes transparency and accountability in campus safety, and protects the interests of students and their families.

What is the primary purpose of the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act?

  1. To require institutions to disclose information about campus crime and security.

  2. To promote transparency and accountability in campus safety.

  3. To protect the interests of students and their families.

  4. All of the above.


Correct Option: D
Explanation:

The Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act requires institutions to disclose information about campus crime and security, promotes transparency and accountability in campus safety, and protects the interests of students and their families.

What is the primary purpose of the Higher Education Opportunity Act (HEOA)?

  1. To increase access to higher education for students from low-income families.

  2. To improve the quality of higher education.

  3. To promote accountability and transparency in higher education.

  4. All of the above.


Correct Option: D
Explanation:

The HEOA has multiple purposes, including increasing access to higher education for students from low-income families, improving the quality of higher education, and promoting accountability and transparency in higher education.

What is the primary purpose of the Program Participation Agreement (PPA)?

  1. To outline the terms and conditions of an institution's participation in federal student financial aid programs.

  2. To ensure that institutions are using federal funds in accordance with applicable laws and regulations.

  3. To protect the interests of students and their families.

  4. All of the above.


Correct Option: D
Explanation:

The PPA outlines the terms and conditions of an institution's participation in federal student financial aid programs, ensures that institutions are using federal funds in accordance with applicable laws and regulations, and protects the interests of students and their families.

What is the primary purpose of the Financial Aid Handbook (FAH)?

  1. To provide guidance to institutions on the administration of federal student financial aid programs.

  2. To ensure that institutions are using federal funds in accordance with applicable laws and regulations.

  3. To protect the interests of students and their families.

  4. All of the above.


Correct Option: D
Explanation:

The FAH provides guidance to institutions on the administration of federal student financial aid programs, ensures that institutions are using federal funds in accordance with applicable laws and regulations, and protects the interests of students and their families.

What is the primary purpose of the Code of Federal Regulations (CFR)?

  1. To codify federal laws and regulations.

  2. To provide guidance to institutions on the administration of federal student financial aid programs.

  3. To protect the interests of students and their families.

  4. All of the above.


Correct Option: A
Explanation:

The CFR codifies federal laws and regulations, including those related to higher education finance and funding.

What is the primary purpose of the Office of Federal Student Aid (FSA)?

  1. To administer federal student financial aid programs.

  2. To ensure that institutions are using federal funds in accordance with applicable laws and regulations.

  3. To protect the interests of students and their families.

  4. All of the above.


Correct Option: A
Explanation:

The FSA administers federal student financial aid programs, including the Pell Grant program, the Direct Loan program, and the Federal Work-Study program.

What is the primary purpose of the National Student Loan Data System (NSLDS)?

  1. To track student loan borrowing and repayment.

  2. To ensure that students are using federal funds in accordance with applicable laws and regulations.

  3. To protect the interests of students and their families.

  4. All of the above.


Correct Option: A
Explanation:

The NSLDS tracks student loan borrowing and repayment, including information on loan amounts, interest rates, and repayment status.

What is the primary purpose of the Higher Education Act (HEA)?

  1. To provide federal funding for higher education.

  2. To ensure that institutions are using federal funds in accordance with applicable laws and regulations.

  3. To protect the interests of students and their families.

  4. All of the above.


Correct Option: D
Explanation:

The HEA provides federal funding for higher education, ensures that institutions are using federal funds in accordance with applicable laws and regulations, and protects the interests of students and their families.

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