Question 1

The federal government contributes approximately what percent of the total cost of childcare?&#10;A)69&#10;B)19&#10;C)89&#10;D)39

Accepted Answer

According to a report by Child Care Aware of America, the federal government's share of child care costs is about 19%.

Question 2

Getting a grant is a quick and easy way to get funds for a childcare facility

Accepted Answer

Getting a grant for a childcare facility requires research, planning, and often a competitive application process. It is not a quick and easy way to get funds.

Question 3

What view does the National Association for the Education of Young Children (NAEYC)take regarding good financial policy?&#10;A)It should always be secondary to staff training.&#10;B)It is a good thing to have,but not really necessary.&#10;C)It is essential to gain NAEYC accreditation.&#10;D)NAEYC has no position on this issue.

Accepted Answer

The NAEYC requires that programs seeking accreditation have sound financial practices in place, including budgeting, record keeping, and transparent fee schedules. This indicates that NAEYC views good financial policy as essential for early childhood programs seeking accreditation.

Question 4

&#34;Fiscal management&#34; means:&#10;A)being subject to scrutiny by several sources.&#10;B)having a tender heart for giving children loving care.&#10;C)effectively handling the financial aspects of a child-care center.&#10;D)keeping the facilities clean and safe.

Accepted Answer

Fiscal management specifically refers to managing the financial aspects of a child-care center or any organization. It involves budgeting, accounting, financial reporting, and other related tasks to ensure the financial stability and sustainability of the center. Options A, B, and D are not related to fiscal management.

Question 5

Most child-care centers are able to spend as much money as needed to create a high-quality program.

Accepted Answer

Most child-care centers operate on a budget and may not have unlimited funds to spend on creating a high-quality program. They have to balance their expenses with the fees they charge to parents/guardians.

Question 6

What is generally the most costly item in a center's budget?&#10;A)supplies and services&#10;B)profit&#10;C)building occupancy&#10;D)personnel costs

Accepted Answer

Personnel costs are typically the largest expense in a center's budget, as salaries and benefits for staff can add up quickly. Supplies and services, building occupancy, and profit can also be significant expenses, but they are generally not as substantial as personnel costs.

Question 7

What should be factors in setting fees to attend a childcare center?&#10;A)average fees for other area centers.&#10;B)the cost of providing services.&#10;C)the ability of the target group of parents to pay&#10;D)all of the above.

Accepted Answer

All of the above factors should be considered when setting fees for a childcare center. It is important to balance the need to cover the cost of providing quality services with the ability of parents to pay. Additionally, researching the average fees for other area centers can help ensure that fees are competitive and fair.

Question 8

As of 2013,family child-care providers earned more than parking lot attendants.

Accepted Answer

The answer of As of 2013,family child-care providers earned more...

Question 9

To receive the TEACH Early Childhood Scholarship stipends,individuals have to promise to stay in the field of child care.

Accepted Answer

Individuals who receive the TEACH Early Childhood Scholarship stipends are required to make a commitment to work in the early childhood field for a specified period of time. This is usually a requirement to receive the funds.

Question 10

There is a correlation between what a center charges for child care services and the quality of those services.

Accepted Answer

Studies have shown that higher priced child care centers tend to have higher quality services. This is because these centers are able to pay their staff better, provide better resources and materials, and invest in ongoing training and development for their staff. However, this is not always the case and there are exceptions. It is important for parents to research and visit different child care centers to determine the quality of care provided, regardless of the cost.

Question 11

Why is childcare generally more expensive for toddlers than for older children?&#10;A)More caregivers are required&#10;B)The caregivers need higher credentials&#10;C)The cost of equipment is higher&#10;D)Licensing fees are higher

Accepted Answer

The answer of Why is childcare generally more expensive for...

Question 12

An &#34;RFP&#34;:&#10;A)is a request for personnel to work in a center.&#10;B)announces grants and solicits applications for them.&#10;C)revises formal procedures.&#10;D)recommends financial policies.

Accepted Answer

The answer of An &#34;RFP&#34;:&#10;A)is a request for personnel to...

Question 13

Which of the following is NOT an acceptable way to balance the year's budget?&#10;A)Increase income&#10;B)Cut costs&#10;C)Increase income and cut costs&#10;D)Borrow from the next year's budget

Accepted Answer

The answer of Which of the following is NOT an...

Deck 6: Fiscal Management