To earn this credential, you will need to know the rules and procedures a participating institution must follow to request, maintain, authorize, disburse, deliver, use, and return Title IV funds. You will need to know how to maintain Title IV funds held by the school, manage excess cash, and handle Title IV credit balances, as well as the notifications to provide and the authorizations to collect. This will help you demonstrate the ability—through effective cash management—to effectively administer the Title IV programs, and to minimize the costs and risks of the programs for students, schools, and taxpayers.
The range of topics in this test include:
Tests may include questions pertaining to a variety of program structures, such as credit- or clock-hour, term or nonterm, standard or nonstandard term, undergraduate or graduate/professional programs, and programs of various length (shorter than one year, two-year, four-year, certificate, etc.).
All tests will include a combination of multiple-choice and scenario-based questions. Some questions may involve viewing or downloading worksheets, charts, and tables. Please ensure you have a calculator available while taking a credential test.
Review the following examples, which are similar in structure and scope to the questions that will appear on the test for this topic. Check your answers by selecting the question's link.
1. Funds from which of the following Title IV programs are NOT disbursed on a payment period basis?
2. Which of the following is NOT a funding method for Title IV funds?
3. If Title IV funds are delivered by check or EFT to the student or parent, and the check is not cashed or the EFT is rejected, any further attempts must cease and the funds must be returned to the appropriate Title IV program no later than __________ after the date the school issued the funds.
4. For a crossover payment period, for which of the following Title IV programs may a school choose to draw down funds from either of the two award years?
5. A school is exempt from the 30-day delayed disbursement requirement if its official cohort default rate is below __________ for each of the three most recent fiscal years for which data are available.
Prepare for this test by reviewing related content in resources such as: