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

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.

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:

Created on October 06, 2020

General Finance Rules

General Finance Rules Quiz

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1 / 110

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

A) If the claim is not preferred within 45 days succeeding the date of completion of the journey

B) If the claim is not preferred within 90 days succeeding the date of completion of the journey

C) If the claim is not preferred within 60 days succeeding the date of completion of the journey

D) If the claim is not preferred within 30 days succeeding the date of completion of the journey

2 / 110

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

A) 3 years after the issue of final pension/ gratuity

B) 5 years after the issue of final pension/ gratuity

C) 2 years after the issue of final pension/ gratuity

D) 4 years after the issue of final pension/ gratuity

3 / 110

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

A) 3/4th of the probable amount of TA admissible

B) 2/3 rd of the probable amount of TA admissible

C) 1/4th of the probable amount of TA admissible

D) 1/2 of the probable amount of TA admissible

4 / 110

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

A) 40% of the contract value

B) 10% of the contract value

C) 25% of the contract value

D) 20% of the contract value

5 / 110

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

A) Electronic Reverse Auction

B) Two-stage bidding

C) Single Tender Contract

D) Advertised Tender

6 / 110

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

A) 15 % of the contract value

B) 50% of the contract value

C) 20% of the contract value

D) 30% of the contract value

7 / 110

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

A) ₹2,50,000

B) ₹5,00,000

C) ₹3,00,000

D) ₹2,75,000

8 / 110

In what form will bid security be accepted?

A) Demand Draft

B) Bank guarantee

C) Fixed Deposit receipts

D) All of these

9 / 110

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

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

A) (ii) and (iv)

B) (ii) and (iii)

C) (i) and (ii)

D) (i) and (iii)

10 / 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?

A) Rule 197 of GFR 2017

B) Rule 149 (iii) of GFR 2017

C) Rule 147 of GFR 2017

D) Rule 155 of GFR 2017

11 / 110

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

A) On superannuation

B) Beyond the date of death of the Government servant

C) On termination from Government service

D) On resignation from Government service

12 / 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?

A) No authority should exercise its powers of sanctioning expenditure to pass an order which will be directly or indirectly to its own advantage

B) Every officer should exercise the same vigilance in respect of expenditure incurred from public money as a person of ordinary prudence would exercise in respect of expenditure of his own money

C) The expenditure should not be prima facie more than the occasion demands

D) All of these

13 / 110

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

A) All of these

B) In exceptional cases, where it is difficult to meet the cost of long and expensive journeys

C) Can be sanctioned after receipt of a written undertaking

D) Cannot be sanctioned the second advance until the first one is adjusted

14 / 110

Fixed assets should be verified at least once in:

A) 4 years

B) 3 years

C) 5 years

D) 1 years

15 / 110

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

A) Within nine months after the date of death

B) Within six months after the date of death

C) Within one year after the date of death

D) Within three months after the date of death

16 / 110

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

A) 2018-2019

B) 2016-2017

C) 2015-2016

D) 2017-2018

17 / 110

Under what circumstances is a single tender enquiry system adopted?

A) All of these

B) When required goods are manufactured by a particular firm

C) For standardization of machinery or spare parts to be compatible with the existing sets of equipment resulting in purchase only from a selected firm

D) In case of emergency when the required goods are necessarily to be purchased from a particular source

18 / 110

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

A) 2 years

B) 3 years

C) 5 years

D) 4 years

19 / 110

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

A) All of these

B) Single tender enquiry

C) Advertised tender enquiry

D) Limited tender enquiry

20 / 110

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

A) None of these

B) Appointing Authority

C) Head of the Department

D) Head of the Department & Appointing Authority

21 / 110

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

(MOCK TEST PS GROUP B)

A) 6 years

B) 2 years

C) A year

D) 5 years

22 / 110

When will bid securities be refunded to the unsuccessful bidders?

A) On or before the 10th day after the award of the contract

B) On or before the 30th day after the award of the contract

C) On or before the 45 th day after the award of the contract

D) On or before the 15th day after the award of the contract

23 / 110

General Finance Rules 2019

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

A) Negotiation with bidders can be done to achieve the lowest bid even after opening the bid

B) Contract should ordinarily be awarded to the lowest evaluated bidder who is qualified to perform satisfactorily.

C) Bidders can modify/alter their bids after the expiry of the deadline for receipt of bids

D) Any new condition can be brought in for evaluation of bids

24 / 110

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

A) Controlling officer of the Department

B) Head of the Department

C) DDO

D) Chief Accounts officer of the Department

25 / 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?

A) By single tender system

B) By a reputed dealer

C) By limited tender system

D) By public auction

26 / 110

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

A) 50 %

B) 80 %

C) 70 %

D) 60 %

27 / 110

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

A) 3

B) 5

C) 2

D) 4

28 / 110

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

A) 1 to 3 years

B) 2 to 5 years

C) 1 to 5 years

D) 3 to 5 years

29 / 110

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

A) Head of the Department of the property

B) Central Public Works Department

C) Financial Adviser of the Department

D) Legal Department

30 / 110

What is the full form of ‘PFMS’?

A) Prime Minister’s Finance Measurement System

B) Public Finance Monetary System

C) Permanent Finance Management System

D) Public Financial Management System

31 / 110

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

A) On the date of joining after duty availing of LTC

B) On the date of commencement of the outward journey

C) On the date succeeding the date of completion of the return journey

D) On the starting date of the return journey

32 / 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?

A) Within a period of 3 months from the date of sanction

B) Within a period of 6 months from the date of sanction

C) Within a period of 9 months from the date of sanction

D) Within a period of one month from the date of sanction

33 / 110

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

A) ₹20,000

B) ₹15,000

C) ₹25,000

D) ₹30,000

34 / 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?

A) 2 years

B) 1 year

C) 3 years

D) 5 years

35 / 110

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

A) ₹100,000

B) Actual price of Personal Computer

C) ₹50,000 or the actual price of a Personal Computer, whichever is lower

D) ₹50,000

36 / 110

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

A) 6

B) 5

C) 3

D) 4

37 / 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?

A) A particular trademark, trade name, or brand

B) Quantity of goods to be procured

C) Technical specifications

D) A complete schedule of the procurement cycle

38 / 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?

A) Within 2 months of the completion of the journey

B) Within 6 months of the completion of the journey

C) Within one month of the completion of the journey

D) Within 3 months of the completion of the journey

39 / 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:

A) ₹2, 50,000

B) ₹1,00,000

C) ₹5,00,000

D) ₹ 50,000

40 / 110

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

A) All of these

B) Promotion of competition in public procurement

C) Responsibility and accountability

D) Fair and equitable treatment of suppliers

41 / 110

Personal Computer Advance

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

A) All Government employees

B) Employees drawing pay from Pay Level 6 to 18

C) Employees drawing pay from Pay Level 4 to 18

D) Employees drawing pay from Pay Level 10 to 18

42 / 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?

A) Rule 197(ii) in GFR 2017

B) Rule 149(ii) in GFR 2017

C) Rule 149(i) in GFR 2017

D) Rule 197(i) in GFR 2017

43 / 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?

A) Within one month after completion of the journey by the last batch

B) Within one month from the date of sanction of advance

C) Within one month from the date of commencement of journey by the last batch

D) Within one month after completion of the journey by the first batch

44 / 110

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

A) The technical bid should be opened in the first instance and evaluated. The financial bid of the acceptable technical offer should be opened at the second stage

B) The financial bid should be evaluated first and then the corresponding technical bid of the acceptable lowest bid should be opened

C) Both the bids should be opened simultaneously and evaluated

D) Both the bids to be ranked together and the bid with the highest score to be selected

45 / 110

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

A) 100

B) 150

C) 120

D) 200

46 / 110

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

A) CAM

B) R&P

C) GFR

D) DFPR

47 / 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?

A) Above ₹15 lakhs

B) Above ₹10 lakhs

C) Above ₹20 lakhs

D) Above ₹5 lakhs

48 / 110

e-Procurement, according to GFR means?

A) Payment for procurement being made Online

B) Use of information and communication technology in the procurement process

C) Procurement only through foreign sources

D) Procurement of computer-related goods

49 / 110

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

A) All of these

B) The qualification criteria were not unduly restrictive

C) Prices are reasonable in comparison to market values

D) The procurement was properly advertised and sufficient time was given for the submission of bids

50 / 110

Advances to Central Government Servants

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

A) Within 15 days

B) within 60 days

C) Within 1 year

D) Within 30 days

51 / 110

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

A) GFR 2

B) GFR 19

C) GFR 18

D) GFR 20

52 / 110

General Financial Rules 2017

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

A) 45 days beyond the final bid validity period

B) 60 days beyond the final bid validity period

C) 40 days beyond the final bid validity period

D) 30 days beyond the final bid validity period

53 / 110

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

A) Legal Department

B) Suppliers

C) Central Purchase Organization

D) Procuring Ministries / Departments

54 / 110

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

A) Management consultancy services

B) Advisory and project-related consultancy services

C) Policy consultancy services

D) All of these

55 / 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:

A) ₹2 lakhs to 15 lakhs

B) ₹4 lakhs to 8 lakhs

C) ₹1 lakh to 10 lakhs

D) ₹5 lakhs to 20 lakhs

56 / 110

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

A) 14 days

B) 30 days

C) 21 days

D) 18 days

57 / 110

What does QCBS stand for?

A) None of these

B) Quantity Conscious Bid Selection

C) Quality Contract Bid Selection

D) Quality and Cost Based Selection

58 / 110

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

A) Financial bid

B) Anyone bid

C) Technical bid

D) Both should be opened simultaneously

59 / 110

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

A) If not submitted within 45 days of the due date

B) 90 days of the due date

C) If not submitted within 30 days of the due date

D) If not submitted within 60 days of the due date

60 / 110

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

A) ₹15 lakhs and above

B) ₹25 lakhs and above

C) ₹30 lakhs and above

D) ₹10 lakhs and above

61 / 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?

A) NO

B) Yes

C) Optional

D) Discretion of the procuring authority

62 / 110

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

A) 80% of the project loan

B) 75% of the project loan

C) 60% of the project loan

D) 50% of the project loan

63 / 110

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

A) NITI Aayog

B) Vice-President of India

C) Prime Minister of India

D) President

64 / 110

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

A) One year of its becoming due

B) Two years of its becoming due

C) Three years of its becoming due

D) Four years of its becoming due

65 / 110

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

A) Vehicles, aircraft, ships

B) Intangible products like Software, Patents

C) Books, Publication, Periodicals

D) Furniture, Fixtures, and raw materials

66 / 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?

A) 3% over the interest rate on Provident Fund balances

B) 5% over the interest rate on Provident Fund balances

C) 2% over the interest rate on Provident Fund balances

D) 2 ½ % over the interest rate on Provident Fund balances

67 / 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

A) (i), (iv), (iii), (ii)

B) (i), (ii), (iii), (iv)

C) (iv), (iii), (ii), (i)

D) (i), (iii), (iv), (ii)

68 / 110

What is the period of retention of Pay Bill Registers?

A) 35 years

B) 30 years

C) 32 years

D) 40 years

69 / 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?

A) Ministry of Personnel and Training

B) Ministry of Finance

C) Ministry of Home Affairs

D) Ministry of Sports and Centre

70 / 110

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

A) Twice

B) Five times

C) Once

D) Thrice

71 / 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 :

A) (i), (iii), (v), (iv), (ii)

B) (i), (v), (ii), (iii), (iv)

C) (i), (iv), (ii), (iii), (v)

D) (i), (ii), (iii), (iv), (v)

72 / 110

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

A) Rule 175(2)

B) Rule 174

C) Rule 175(1)

D) Rule 173

73 / 110

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

A) 2 years

B) 4 years

C) 5 years

D) 3 years

74 / 110

General Financial Rules

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

A) Rs10 lakhs

B) Rs15 lakhs

C) Rs20 lakhs

D) Rs25 lakhs

75 / 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:

A) a year

B) 3 years

C) 2 years

D) 5 years

76 / 110

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

A) Rule 197 of GRF 2017

B) Rule 148 of GRF 2017

C) Rule 149 of GRF 2017

D) Rule 147 of GRF 2017

77 / 110

Interest-free Advances-Travelling Advance

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

A) If he proceeds on transfer to Foreign Service

B) If he proceeds on mutual transfer

C) If he proceeds on transfer on administrative grounds

D) If he proceeds on transfer while on leave

78 / 110

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

A) Nearest multiple of ₹50

B) Nearest multiple of ₹100

C) No rounding-off

D) Nearest multiple of ₹500

79 / 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?

A) ₹50,000

B) ₹1,00,000

C) ₹75,000

D) ₹2,00,000

80 / 110

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

A) Two bid system

B) Limited tender system

C) Single tender system

D) Advertised tender system

81 / 110

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

A) 4

B) 5

C) 3

D) 2

82 / 110

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

A) Transportation cost

B) Actual cost

C) Surplus cost

D) Inventory carrying cost

83 / 110

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

A) 50 lakhs

B) 40 lakhs

C) 30 lakhs

D) 60 lakhs

84 / 110

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

A) Limited tender enquiry

B) Advertised tender enquiry

C) Two bid system

D) Single tender enquiry

85 / 110

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

A) 20%

B) 30%

C) 40%

D) 10%

86 / 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?

A) Once in 3 years

B) Once in 6 years

C) Once in 4 years

D) Once in 5 years

87 / 110

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

A) 1 to 3 percent

B) 4 to 7 percent

C) 3 to 6 percent

D) 2 to 5 percent

88 / 110

When is the rejection of all bids justified?

A) When effective competition is lacking

B) When all bids meet the criteria for evaluation of bids

C) When bids/proposals are responsive to the requirements of the procurement division

D) When the technical bids meet the minimum qualifying score

89 / 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?

A) ₹15,000

B) ₹25,000

C) ₹10,000

D) ₹30,000

90 / 110

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

A) Terms of Reference

B) Proposed list of potential consultants

C) Bid evaluation criteria

D) A letter of Invitation

91 / 110

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

A) Within 3 months

B) Within 6 months

C) within 60 days

D) Within 1 month

92 / 110

General Financial Rules objective type questions

87. What is performance security?

A) A performance security is given by a contractor to inform that his bid is the lowest

B) To ensure due to performance of a contract, an amount of 5 to 10 percent of the contract value is deposited with the Government and this is called performance Security

C) A performance security is given by the Government to a contractor for any loss that he may incur in the contract

D) A performance security is one which is given by an Insurance Company for the security of goods

93 / 110

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

A) Within 30 days

B) Within 45 days

C) Within 20 days

D) Within 15 days

94 / 110

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

A) GFR 15

B) GFR 18

C) GFR 17

D) GFR 16

95 / 110

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

A) 30th April

B) 1st April

C) 1st March

D) 15th April

96 / 110

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

A) 45 days

B) 30 days

C) 60 days

D) 10 days

97 / 110

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

A) ₹10,000

B) ₹25,000

C) ₹8,000

D) ₹50,000

98 / 110

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

A) Librarian and library staff

B) Drivers of the Government vehicles

C) Government servants who are entrusted with the custody of office furniture, stationery, if the Head of Office is satisfied with the safeguards against loss through pilferage

D) All of these

99 / 110

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

A) 50 days

B) 30 days

C) 45 days

D) 60 days

100 / 110

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

A) 50% of the estimated cost of journeys both ways

B) 80% of the estimated cost of journeys both ways

C) 90% of the estimated cost of journeys both ways

D) 75% of the estimated cost of journeys both ways

101 / 110

Who will evaluate the technical bids?

A) Financial Adviser

B) Consultancy Evaluation Committee (CEC)

C) Technical Team

D) Head of Office

102 / 110

What is the cost charged to download tender documents?

A) 1% of the cost estimate

B) 10% of cost estimate

C) No cost

D) Value of Bank guarantee

103 / 110

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

A) Schedule for completion of tasks

B) Outline of the tasks to be carried out

C) Al of these

D) Precise statement of objectives

104 / 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:

A) 2 to 3%

B) 5 to 10 %

C) 6 to 7 %

D) 4 to 5%

105 / 110

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

A) 1

B) 2

C) No limits prescribed

D) 3

106 / 110

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

A) Head of the Department of a particular establishment

B) Central Purchase Organization

C) Finance Minister

D) Secretary, Finance

107 / 110

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

A) On the expiry of 5 months

B) On the expiry of 4 months

C) On the expiry of 3 months

D) On the expiry of 6 months

108 / 110

Write the full form of CPPP.

A) Central Purchase Procedure and Protocol

B) Central Purchase Power Protocol

C) Central Public Procurement Portal

D) Central Public Procurement Process

109 / 110

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

A) Rule 298

B) Rule 301 (1)

C) Rule 299

D) Rule 296

110 / 110

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

A) ₹10 lakhs

B) ₹25 lakhs

C) ₹20 lakhs

D) ₹15 lakhs

Your score is

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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

Miscellaneous Rules for IPO Exam & Gr B Exam

Leave Rules for IPO Exam & Gr B Exam

LTC Rules for IPO Exam & Gr B Exam;

CEA & Hostel Subsidy MCQs for IPO Exam & Gr B Exam

IPO Exam Syllabus and Books & Reading material: 2020(Latest)

CCS Conduct Rules(1964)

IPO Exam/Gr B Exam MCQs

IPO Exam Question Paper 2019: IPO Exam 2019 Question Paper

Revised Syllabus PSS GroupB Examination(Latest 30-12-2019)

CCS CCA Rules 1965

Post office acronyms & abbreviations

Study Material for Postman Exam pdf: 2020 Update

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

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

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

Sravan Kumar Pilla says:

November 17, 2020 at 10:49 am

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

1. Admin says:
  
  November 17, 2020 at 11:28 am
  
  Welcome, Sravan! Glad to hear that it helped you.
  
Bishwajit Roy says:

November 22, 2020 at 5:53 pm

No words. Excellent. Thanks

1. Admin says:
  
  November 22, 2020 at 6:08 pm
  
  Welcome, Bishwajit Ji!
  
Bishwajit Roy says:

November 22, 2020 at 5:55 pm

Questions on Budget topic also needed to understand in better way

Naresh says:

November 28, 2020 at 2:54 pm

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

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.
  
ER.AJAY SHARMA says:

May 4, 2021 at 5:20 pm

Respected Sir,
Thanks a lot for providing quiz on GFR and leave rules. It will help me a lot

1. Admin says:
  
  May 5, 2021 at 10:43 am
  
  Thank you Ajay Ji! Glad you found it useful.
  
NAVEENA VASUDEVAN says:

September 28, 2021 at 1:33 pm

Thank u ji.. helpful notes and mcq

1. Admin says:
  
  October 1, 2021 at 4:04 pm
  
  Welcome, Naveena Ji. Glad that you find it useful.

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

What are General Finance Rules?

General Finance Rules Quiz

(MOCK TEST PS GROUP B)

General Finance Rules 2019

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

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?

General Financial Rules 2017 MCQ

The General Financial Rules MCQ

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?

Personal Computer Advance

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?

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

General Financial Rules (continued)

Advances to Central Government Servants

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

General Financial Rules 2017

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:

General Financial Rules 2019

Advances to Central Govt Servant

General Financial Rules

General Financial Rules

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

Interest-free Advances-Travelling Advance

General Financial Rules objective type questions

Index:

Read Also:

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

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