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General Finance Rules (GFR) & Advances: MCQs IPO Exam & Gr B Exam

Posted on October 4, 2020November 22, 2020 by Admin

General Finance Rules (GFR) & Advances: MCQs for IPO Exam & Gr B Exam is today’s topic. Indeed, General Finance Rules (GFR) is an important topic in the Gr B Syllabus and IPO syllabus as well. Further Advances to Govt servants like Personal Computer advance/TA advances is another important topic as many advances have been done away in the 7th pay commission.

 

General Finance Rules
General Finance Rules MCQs

What are General Finance Rules?

The General Financial Rules (GFRs) are a set of rules that deal with matters that involve public finances. They lay down the general rules applicable to Ministries / Departments, and detailed instructions relating to the procurement of goods are issued by the procuring departments broadly in conformity with the general rules.

There are several revisions in General Finance Rules like General Finance Rules 2005; the General Financial Rules 2017; General Finance Rules 2019. They were first issued in 1947 then revised in 1963, 2005, 2017, 2019 bringing together all the existing orders.

This topic of General Finance Rules needs to be read extensively as they are useful when you actually become a Gr B officer in the future. You need to adopt the General Financial Rules purchase procedure/procurement procedure when you become a Gr B Officer for all the procurements made for the Division under your control. So, you need to keep these important General Financial Rules in mind while making procurement.

MCQ on General Financial Rules 2017 will make you understand the broad concept of General Financial Rules.

General Finance Rules Quiz

Try this General Finance Rules 2017 Quiz right now:

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Created on October 06, 2020

General Finance Rules

General Finance Rules Quiz

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1 / 110

What is the crucial date for the closure of Inter-Government adjustments under GFR?

2 / 110

When will bid securities be refunded to the unsuccessful bidders?

3 / 110

What is the full form of ‘PFMS’?

4 / 110

What is the monetary limit in case of theft, fraud, etc., above which the case is to be reported to the Police for investigation?

5 / 110

What is the limit of advance payment made to the State Government, or Central Government agency or a PSU for supply contracts?

6 / 110

When will the claims of a Government servant to TA/DA on tour /transfer/training/journey on retirement stand forfeited?

7 / 110

After finalization of the estimates for Budgetary allocations by the Department of Expenditure, whose consultation is necessary to prepare an Outcome Budget statement?

8 / 110

In a QCBS(Quality and cost-based selection), what is the highest weightage allowed for technical parameters?

9 / 110

State the quantum of Personal Computer Advance admissible to a Government servant.

10 / 110

What is the limit up to which a duly constituted financial committee (LPC) can purchase goods on each occasion?

11 / 110

When is the rejection of all bids justified?

12 / 110

What is the time-limit for submission of LTC claim after completion of the return journey when LTC advance is drawn?

13 / 110

A report of transfer of a Gazetted Government servant is made in—

14 / 110

Name the Rule in GFR speaks about direct purchases online in the GeM portal by the Govt buyers in the procurement process above ₹25000 and up to ₹5,00,000?

15 / 110

Which system is being followed for the purchase of high-value plants, machinery, etc. of a complex and technical nature?

16 / 110

In a two-bid system, how should the bids be evaluated?

17 / 110

A list of potential consultants is to be prepared if the estimated cost of the consulting service is up to:

18 / 110

Advances to Central Government Servants

What is the due date for the submission of T.A.'s claim on completion of the journey?

19 / 110

The number of supplier firms in limited tender enquiry should be more than:

20 / 110

Write the full form of CPPP.

21 / 110

What are the standards of financial propriety which should be observed by an officer with regard to expenditure and payment of money from public funds?

22 / 110

What is the financial limit for the purchase of goods without quotation or bids?

23 / 110

In what form will bid security be accepted?

24 / 110

What does QCBS stand for?

25 / 110

How many times is Computer Advance admissible to a Government servant in the entire service?

26 / 110

While short-listing the potential list of consultants what should be the minimum number of consultants?

27 / 110

Physical verification of all the consumable goods and materials should be undertaken at least once in:

(MOCK TEST PS GROUP B)

28 / 110

Identify the document that does not form part of a Request for Proposal (RFP)—

29 / 110

e-Procurement, according to GFR means?

30 / 110

The cost that does not add value to a material being stocked is:

31 / 110

The procedures for grant of permanent advance or imprest to a Government servant is available in:

32 / 110

What is the time-limit for submission of an LTC claim when the advance is not drawn?

33 / 110

Fixed assets should be verified at least once in:

34 / 110

What percentage on the amount of the value of the contract as specified in the bid documents is required to be furnished as performance security:

35 / 110

Who will evaluate the technical bids?

36 / 110

What are the conditions to be satisfied when only one bid is submitted?

37 / 110

Interest-free Advances-Travelling Advance

Under what circumstance is an advance of Travelling Allowance on transfer not admissible to a Government servant?

38 / 110

What is the maximum number of monthly installments prescribed for recovery of Computer Advance?

39 / 110

Which bid is opened first by a Ministry in two bid system?

40 / 110

General Finance Rules 2019

Which of the following sentences is correct in terms of bidding procedures?

41 / 110

Arrange the following procedures to be followed by a Department in the sequence of their happening to ensure correct execution of work.

(i) Preparation of detailed design and estimates

(ii) Open tenders to be called for

(iii) Execution of Contract Agreement

(iv) Final payment for work done

42 / 110

What is the maximum amount of advance that can be sanctioned by a Ministry/Department to a Government Pleader in connection with lawsuits to which Government is a party?

43 / 110

What is the period of retention of Service Books of officials entitled to retirement/terminal benefits?

44 / 110

State the monetary limit up to which any loss of immovable property by fire, flood, etc., can be reported by a subordinate authority to the next higher authority up to:

45 / 110

What is the period of physical verification of library books in case of libraries having more than twenty thousand volumes and up to fifty thousand volumes?

46 / 110

Who can allow the arrear claim of a Government servant kept in abeyance for a period exceeding two years?

47 / 110

What is the limit up to which a Ministry / Department may directly execute repair works?

48 / 110

What is the maximum percentage of advance payments that are made to private firms?

49 / 110

For projects up to ₹100 crores, powers are vested with the Administrative Ministry / Department to accept a variation in the approved estimate within:

50 / 110

What is the maximum one-time grant that can be sanctioned for setting up of a recreation club?

51 / 110

Which method is followed for inviting bids if the estimated value of non-consulting service is less than Rupees ten lakhs?

52 / 110

Details of specifications, prices and other salient features of different rate contracted items will be updated on the website by:

53 / 110

Which fundamental principle is essential for an authority delegated with financial powers for procuring goods in the public interest?

54 / 110

Under which ministry’s order is a grant-in-aid regulated for the provision of amenities or of recreational or welfare facilities to the staff of offices of the Government?

55 / 110

How many methods are there in the process of obtaining bids?

56 / 110

How many tour advances shall be allowed to remain outstanding at a time?

57 / 110

Which rule of GFR deals with the time-barred claim of Government servants?

58 / 110

Which of the following services come under the purview of consulting services?

59 / 110

What is the time-limit stipulated to the family of the deceased employee to complete the journey?

60 / 110

What is the validity period of registered suppliers in Government e-Marketplace?

61 / 110

What are the standard methods adopted for obtaining bids during the purchase of goods?

62 / 110

What is the maximum period of debarment of a bidder under Section 151 (i) of GFR?

63 / 110

Advances to Central Govt Servant

In case of default, what is the penal interest chargeable for advances regulated under Rules 39 to 84 of Compendium of Rules on Advances?

64 / 110

Who is competent to sanction permanent advance or imprest for meeting day-to-day contingent and emergent expenditure?

65 / 110

Which Rule in GFR speaks about direct purchases online in the GeM portal by the Govt buyers in the procurement process above ₹5,00,000?

66 / 110

From which Financial Year is the Railway Budget included with the General Budget?

67 / 110

An arrear claim of a Government servant shall be settled by the DDO if preferred within:

68 / 110

General Financial Rules

In case of libraries having not more than twenty thousand volumes, complete physical verification of books should be done once in:

69 / 110

What is the time-limit for adjustment of an advance granted as immediate relief to the family of the deceased Government servant, under Rule 79 of the compendium of Rules on Advances?

70 / 110

How is the amount of advance, except miscellaneous advances, rounded-off after the same is determined?

71 / 110

What should be the validity period of performance security beyond the date of completion of all contractual obligations?

72 / 110

When limited tender results in only one effective offer, it shall be treated as—

73 / 110

What is the estimated value of the goods to be procured for which invitations to tenders can be made by advertisement?

74 / 110

Which item will not come under the purview of the definition of Goods?

75 / 110

Which of the following methods is used for disposal of surplus or obsolete or unserviceable goods of assessed residual value above Rs 2 lakhs?

76 / 110

Under what circumstances is the interest not chargeable on the outstanding balance of interest-bearing advance sanctioned to a Government servant?

77 / 110

Arrange the following events in the sequence in which the procedure for execution works should be carried out.

(i)      Preparation of detailed design and estimates

(ii)      Limited tenders will be called for works costing less than ₹5 lakhs

(iii)     Execution of Contract Agreement or Award of work

(iv)      Issue of Administrative approval and Expenditure sanction of estimates

(v)      Final payment for work

Choose the correct answer from the options given below :

78 / 110

Who is exempted from furnishing a security deposit while handling cash?

79 / 110

What is the time-limit for the execution of a contract document after the issue of a letter of acceptance?

80 / 110

General Financial Rules 2019

37. Should a bidder request / enquire about the reasons for rejection or non-issuance of a tender to a prospective bidder. Is it mandatory to disclose the reasons?

81 / 110

Head of office may sanction tour advance to a Government servant to cover personal traveling expenses for a period not exceeding:

82 / 110

What is the cost charged to download tender documents?

83 / 110

In a two-bid system, what are the two bids?

(i) Technical bid             (ii) Dynamic bid         (iii)  Financial bid     (iv) Online bid

84 / 110

General Financial Rules

24. A limited tender enquiry may be adopted when the estimated value of goods to be procured is up to:

85 / 110

What is the period of retention of Pay Bill Registers?

86 / 110

The General Financial Rules MCQ

15.   While making a public procurement, the description of the subject matter should not contain which of the following?

87 / 110

What is the minimum period for grant of second or subsequent Computer Advance?

88 / 110

General Financial Rules 2017

30. What should be the period of validity of bid security?

89 / 110

What is the maximum quantum of Travelling Allowance to be granted to the family of the deceased Government servant?

90 / 110

What is the time-limit to render accounts of TA advance granted to the family of the deceased, if the family travels in one batch?

91 / 110

Who will certify and register suppliers on Government e-Marketplace (GeM)?

92 / 110

Under what circumstances is a single tender enquiry system adopted?

93 / 110

What is the maximum amount of LTC advance admissible to a Government servant?

94 / 110

Which Rule in GFR speaks about direct purchases online in the GeM portal by the Govt buyers in the procurement process below ₹25000?

95 / 110

What is the percentage of bid security required to be furnished by bidders in the case of a Limited or advertised tender enquiry?

96 / 110

The value between which the Works Contracts or contracts for purchases, where tender documents include the General Condition of Contract (GCC), Special Condition of Contract (SCC) and scope of the work, the letter of acceptance will result in a binding contract is:

97 / 110

What is the maximum amount of immediate relief granted to the family of the deceased Government servant?

98 / 110

Personal Computer Advance

Which of the following category of Government servants are eligible for the grant of Computer Advance?

99 / 110

What are the contents to be incorporated in the Terms of Reference [TOR]?

100 / 110

From the following sentences, find the eligibility and conditions for the grant of TA to non-official members/committees?

101 / 110

General Financial Rules 2017 MCQ

What is the periodicity for re-audit in respect of Central and State Governments for the past transactions involving errors in classification?

102 / 110

General Financial Rules (continued)

What is the estimated value of the non-consulting service for which invitation of bids is done through advertisement in CPPP or GeM?

103 / 110

Which Rule in GFR speaks about transparency, competition, fairness, and elimination of arbitrariness in the procurement process?

104 / 110

When shall Over Time Allowance (OTA) claims to stand forfeited, if not submitted within?

105 / 110

When will the LTC claim of a Government servant fall due for payment?

106 / 110

What is the period prescribed to render accounts of the advance of TA by the family of the deceased, if the family travels in more than one batch?

107 / 110

When will a sanction of Provident Fund Advance/withdrawal lapse?

108 / 110

Who will value the buildings and superstructures on land at the time of transfer from one department to another?

109 / 110

General Financial Rules objective type questions

87. What is performance security?

110 / 110

The recovery of Postal Life Insurance Premia will be registered in Form:

Your score is

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Finally, how do you like the post on General Finance Rules and Advances?

In fact, do you like the MCQs on General Finance Rules or Advances?

One more thing, do you wish to have a Quiz on General Finance Rules?

Conclusively, let me know in the comments section below right now.

Index:

The General Financial Rules 2017;               

General Finance Rules; 

General Financial Rules

And General Finance Rules 2019;

the General Finance Rules 2005;

MCQ on General Financial Rules 2017; 

General Financial Rules purchase procedure;

And General Financial Rules 2017 MCQ

General Financial Rules MCQ

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10 thoughts on “General Finance Rules (GFR) & Advances: MCQs IPO Exam & Gr B Exam”

  1. Mnreddy says:
    October 6, 2020 at 3:09 pm

    I like the MCQ on GFR almost all the subject covered . But I want quiz also to test the accuracy. Thanks for the admin for the Great effort. M. N. Reddy

    Reply
    1. Admin says:
      October 6, 2020 at 4:40 pm

      Thank you.

      Reply
  2. RAMARAO GUDAVALLI says:
    October 30, 2020 at 12:28 pm

    Good information on GFR and advances.It is boost to the exam going offices.Quiz is also need.Please cover all the syllabus of GR B exam.Onceagain, thanq verymuch for preparing imp bits.I have no interest on to read books while reading your bits.Very onformative.

    Reply
  3. Sravan Kumar Pilla says:
    November 17, 2020 at 10:49 am

    Good Compilation Sir..
    You are helping alot the exam aspirants..

    Reply
    1. Admin says:
      November 17, 2020 at 11:28 am

      Welcome, Sravan! Glad to hear that it helped you.

      Reply
  4. Bishwajit Roy says:
    November 22, 2020 at 5:53 pm

    No words. Excellent. Thanks

    Reply
    1. Admin says:
      November 22, 2020 at 6:08 pm

      Welcome, Bishwajit Ji!

      Reply
  5. Bishwajit Roy says:
    November 22, 2020 at 5:55 pm

    Questions on Budget topic also needed to understand in better way

    Reply
  6. Naresh says:
    November 28, 2020 at 2:54 pm

    Thank you sir.. It’s very helpful to my IPO exam..

    Reply
    1. Admin says:
      November 28, 2020 at 3:10 pm

      Welcome, Naresh! Revise thoroughly, particularly through Quizzes, definitely, you will have a chance to be on the final list.

      Reply

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