Financial Rules Railway (60 MCQ with Answer)

 Financial Rules Railway (60 MCQ with Answer)

S NO.

OBJECTIVE TYPE QUESTION WITH OPTIONS

ANSWER

1	WHEN A ASSET IS USED FOR RUNNING A BUSINESS, ANNUAL REDUCTION IN ITS VALUE IS TERMED AS :	B
	A APPRECIATION B DEPRECIATION C PILFERAGE D DETERORIATION

2	ARITHMETICAL ACCURACY OF BOOKS OF ACCOUNTS IS ENSURED BY TALLYING	C
	A CASH BOOK B LEDGER ACCOUNTS C TRIAL BALANCE D NONE OF THE ABOVE

3	RAILWAY BOARD IS LOCATED AT	A
	(a) NEW DELHI (b) MUMBAI (c) HAJIPUR (d) GORAKHPUR

4	THE NORMAL SUPERANNUATION AGE OF A RAILWAY SERVANT IS	D
	(a) 55 YEARS (b) 58 YEARS (c) 50 YEARS (d) 60 YEARS

5	NEW/NATIONAL PENSION SYSTEM IS IMPLEMENTED     W-E-F	A
	(a) 1 JANUARY 2004 (b) 1J ANUARY 2005 (c) 1 JANUARY 2006 (d) 1 JANUARY 2007

6	TRADITIONALLY THE EARNINGS OF RAILWAY ARE CLASSIFIED IN	B
	(a) 2 SOURCES (b) 3 SOURCES (c) 4SOURCES d) 5 SOURCES

7.	NORMAL INCREMENT IS ALLOWED AFTER	A
	(a) 1 YEAR (b) 6 MONTHS (c) 1.5 YEAR (d) 2 YEARS

8	RAILWAY WEEK IS CELEBRATED ON	D
	(a) 10TH APRIL (b) 12TH APRIL (c) 14TH APRIL (d) 16TH APRIL

9	NON-GAZETTED/GR. C VACANCIES IN RAILWAYS ARE FILLED UP  THROUGH DIRECT RECRUITMENT FROM	A
	(a) RRB  (b) RRC (c) ITI (d) UPSC

10	INDIAN RAILWAY INSTITUTE OF FINANCIAL MANAGEMENT/IRIFM (CTARA) IS LOCATED AT	B
	(a) DELHI (D) SECUNDERABAD (c) HAJIPUR (d) GORAKHPUR

11	FINANCIAL ORGANIZATION OF RAILWAYS IS HEADED BY	A
	(a) FC (b) CRB (c) DRM (d) PLA

12	THE PRESENT PAY SCALES OF RAILWAY SERVANTS ARE NOTIFIED AS PER THE RECOMMENDATIONS OF	D
	(a) IV CPC (b) V CPC (c) VI CPC (d) VII CPC

13	PRODUCTIVITY TESTS ARE CONDUCTED TO KNOW	A
	A REMUNERATIVENESS OF WORK B FINANCIAL PROGRESS OF WORK C PHYSICAL PROGRESS OF WORK D NONE OF THE ABOVE

14	OPERATING RATIO IS AN INDEX OF	B
	A ORATING PERFORMANCE B FINANCIAL VIABILITY C BUDGETARY POSITION D NONE OF THE ABOVE

15	OPERATING RATIO IS WORKED OUT ON	A
	A GROSS EARNINGS B NET EARNINGS C NET WORKING EXPENSES  D NONE OF THE ABOVE

16	COST OF RETIRED ASSETS IS CREDITED TO	C
	A EARNINGS B CAPITAL C DRE D DEVELOPMENT FUNDS

17	EXCHEQUER CONTROL MEANS	B
	A BANKERS CONROL OVER ENCASHMENT OF CHEQUES B- SELF CONROL OVER. ISSUE OF CHEQUES , C GOVERNMENT CONROL OVER BUDGET D MANAGERIAL CONROL OVER BUDGET

Exchequer Control is an important tool for budgetary control, and functions as a mechanism for concurrent of cash outgo by each disbursing officer against the cash content of the budget allotment.

Exchequer control mechanism – covers Cash out go only.

18	OBJECTIVE OF ZERO BASE BUDGETING IS	A
	A  JUDICIOUS ALLOCATION OF RESOURCES B CURTAIL EXPENDITURE IN EXISTING PROGRAMMES C SLOW DOWN — EXISTING ACTIVITY FOR EFECTING ECONOMY D NONE OF THE ABOVE

The primary objective of zero-based budgeting is the reduction of unnecessary costs by looking at where costs can be cut. 

19	THE OBJECT OF TEST CHECK IS	B
	A FACTUAL VERIFICATION OF ALL WHAT THE STAFF HAS DONE B TO INCLUDE DISCIPLINE AMONG STAFF SO THAT THEY DO NOT TAKE THE WORK CASUALLY C CHECK OF ARITHMETICAL ACCURACY D SCRUTINY TO FIND OUT WHETHER STAFF HAVE UNDERSTOOD THE DUTIES & RULES GOVERNING THEIR WORK

Test Check:

·                     Conducted at least once in a month  

·                     Inspection sheet consists of i) Month of Test check ii) Date on which put up iii) Date reviewed by the Officer concerned. 

·                     PFA prescribes different items of work dealt in various sections, the minimum test check over the work of clerks.  

·                     Efficient disposal without any violation of rules & procedures.  

·                     Test check is done on the work of clerks under his control for review and orders.  Put up to Branch Accounts Officer on 10th of the following Month. 

·                     Test Check Register of the Branch Accounts Officer on systems improvement  - Sent to PFA for his appraisal. 

Features of Test Check:

·                     Source: 803 AI 

1.             It should not be of routine nature.  

2.             Should focus on System improvement, procedural lacuna and lapses.  

3.             Verification & thorough examination of facts and figures embodied in various documents brought under Test Check.  

4.             Primarily test check items which do not in the ordinary course pass through Officer. 

5.             An intelligent scrutiny to find out whether the clerks understand their duties and rules governing them and do the work allotted to them diligently, and 

6.             Whether there is any tendency to do the work casually. 

7.             Particular emphasis on the procedure & method adopted for the work 

8.             Whether the internal check method should be adequate or over elaborate or any room for improvement. 

20	THE FUNCTIONS INTERNAL CHECK OF EXPENDITURE ARE	D
	A ACCOUNTS CONTROL & BUDGETARY CONTROL B FINANCE CONTROL & BUDGETARY CONTROL C ACCOUNTS CONTROL & FIANNCE CONROL D ALL THE ABOVE

Internal check of Expenditure .-(Pre-check and Post-check)-All claims against the railway should be checked by the Accounts officer before payment is made (i. e. pre-checked). As exceptions to this general rule, payments may be made before such check, but they should all be checked in the Accounts Office after payment is made (i. e. post-checked). 

Internal Check: Check of Day to Day transactions.  Work of One person is proved independently or complementary to the work of another

Checking by the same section staff

Frequency:  Daily/Regular Basis

Object: Early detection of fraud or prevention of frauds at the time of passing Bills

21	EXPENDITURE MAY BE INCURRED PRIOR TO RECEIPT OF SANCTION OF COMPETENT AUTHORITY FOR ESTIMATES FOR ONE OF THE FOLLOWING WORKS	C
	A TRACK RENEWAL WORKS COSTING LESS THAN Rs. 5 LAKHS B WORKS CHARGEABLE TO DRF LESS THAN RS. 5 LAKHS C WORKS WHICH ARE CONSIDERED TO BE URGNILY NECESSARY TO SAPFLGUARD LIE OR PROPERTY. > – D OUT OF TURN WORKS ADMINISTRIVELY APPROVED BY GENERAL MANAGERS

22	ITEMS PLACED UNDER OBJECTION BOOKS CAN BE CLEARED BY	D
	A WHEN SANCTION OF EXPENDITURE IS OBTAINED B WHEN EXECUTIVES GIVE A WRITTEN REQUEST = FOR WITHDRAWLAL OF OBJECTION C WHEN THE WORK IS STATED TO HAVE BEEN COMPLETED SATISECTORILY BY THE CONTRACTOR D WHEN SANCTION OF EXPENDITURE IS OBTINED FROM  THE COMPETENT AUTHRITY.

23	REVENUE ALLOCAATION REGISTER IS AN EFFECTIVE TOOL FOR	D
	A MODERN MANAGEMENT B CONTROL. OVER EXPENDITURE C BUDGETARY CONTROL D ALL THE ABOVE

24	THE OBJECT OF COMPLETION REPORT IS	A
	A TO COMPARE THE ACTUAL COS f OF WORK WITH THOSE PROVIDED IN THE SANCTIONED ESTIMATE B TO CHECK THE CORRECTNESS OF POSTIG IN WORKS REGISTER C CERTIFY THE SATISFCTORY QOMPLETION OF WORKS BY THE CONTRATOR D TO CLOSE THE ACCOUNT OF A WORK

25	WORK REGISTERS SHOULD BE MAINTAINED	D
	A WISE AND. ESTIMATE-WISE PROPERLY B WORK WISE C ESTIMTE WISE D WORK WISE AND SUB ESTIMATE WISE.

26	ONE OF THE IMPORTANT DOCUMENT ON THE BASIS OF WHICH PAYMENT IS MADE TO THE CONTRACTOR IS	D
	A FIELD BOOK B DAY BOOK C TALLY BOOK D MEASUREMENT BOOK

27	CASHING OF GUARANTEE BOND IS THE RESPONSBIBILITY OF	A
	A ACCOUNTS OFFICER B CONCERNED OFFICER C DRM D CHIE CASHIER

28	IN THE CASE OF DEPOSIT WORKS FOR PRIVATE PARTIES, THE DEPARTMENTAL CHARGES ARE LEVIED AT THE RATE OF	A
	A 12.5% B 10% C 6% D 15%

29	THE DOCUMENT WHICH IS THE AUTHORITY FOR THE SHOPS TO UNDERTAKE MANUFACTURE OF COMPONENT IS	B
	A ROUTE CARD B JOB CARD C MATERIAL TAG D SCROLL SHEET

30	THE DOCUMENT WHICH IS USED TO DRAW MATERIAL SPECIFIED IS	B
	A MATERIAL TAG B MATERIAL REQUISITION C MATERIAL SCHEULE D MATERIAL DELIVERY NOTE

31	EACH WORKSHOP EMPLOYEE RECORDS HIS ATTENDANCE DAILY THROUGH GATE ATTENDANCE CARD	D
	A ONCE B TWICE C THRICE D FOUR TIMES

32	THE ATTENDANCE IS RECORDED IN THE GATE ATTEDANCE CARD AY THE	D
	A GATE B TIME OFFICE C SHOP D TIME BOOTH

33	QOUT-TURN STATEMENT PART-I SHOWS OUTLAY	A
	A ADIUSTBLE DURNG THE MONTH B ON WORKS IN PROGRESS C ON COMPLETED WORK ORDER AWAITING ADJUSTMENT

34	PROFORMA ON COST BUDGET IS PREPARED	D
	A MONTHLY B QUARTERLY C HALF YEARLY D ANNUALLY

35	PAYMENT TO WORKSHOP LABOUR IS MADE ON THE BASIS OF	B
	A ASSUMED ATTENDANCE B ACUAL ATTENDANCE C LEAVE ALONG PAY D CASUAL LEAVE

36	RAILWAY ACCOUNTS ARE CLOSED	D
	A MONTHLY B QUATERLY C SIX MONTHLY D ANNUALLY

37	PRE-CHECK SHOULD BE EXERCISED IN CASE OF	B
	A PAYMENT FROM IMPREST B PAYMENT TOWARDS ARREARS OF INCREMENT C COMMISION DEDUCTED BY THE AUCTIONEERS FROM SALE PROCEEDS UNDER THEIR AGREEMENT D PAYMENT FROM STATION EARNINGS WHEN PERMITTED UNDER RULES

38	THE FINANCIAL POSITION OF INDVIDUAL RAILWAY IS KNOWN FROM	A
	A APPROPRIATION ACCOUNT = B  FINANCE ACCOUNTSS C CAPITAL & REVENUE ACCOUNTS D BLOCK ACCOUNTS

39	GROSS RECEIPT INCLUDE	A
	A PASSENGER. GOODS & SUNDRY EARNINGS B PASSENGER, GOODS & OTHER COACHINGS ONLY C PASSENGER. GOODS OTHER COACHING & SUNDRYS ONLY. D OTHER SUNDRIES, OTHER COACHING, GOODS, PASSENGER & TRAFFIC SUSPENSE

40	DEBT HEAD REPORT IS PREPARED	D
	A MONTHLY B QUARTERLY C HALF YEARLY D NONE OF THE ABOVE

41	DEBT HEAD REPORT IS A REVIEW OF	C
	A HALF YEARL SUSPENE BALANCES OUTSTANDING IN THE BOOKS OF RAILWAYS B ARREARS UNDER VARIOUS ITEMS OF WORKS _ IN ACCOUNTS DEPARTMENT C BALANCES UNDER THE DEBT DEPOSIT, ADVANCES.LOAND REMITTANCES OUTSTNDING IN THE BOOKS OF RAILWAYS AT THE END OF THE YEAR D BALANCES UNDER — CSIL.CHEUES & BILLS. REMITTANCES INTO BANKS AND REMITTANCES OUTSTANDING IN. THE BOOKS OF RAILWAYS. AT THE ENDOF YEAR

42	EXCHEQUER CONTROL IS EXERCISED ON	D
	A CASH OUTGO OF REVENUE GRANTS ONLY B CASH OUTGO OF WORKS GRANTS ONLY C CASH OUTGO OF NON BUDGETARY ITEMS D- CASH OUITGO OF REVENUE & WORKS GRANTS ONLY

43	IN THE STATEMENT OF UNSANCTIONED EXPENDITURE, THE ITEMS ARE CLASSIFIED AS
	A EXCESS OVER ESTIMATE EXCESS OVER APPROPRIATION FOR WANT OF PROVISON B MISC IRREGULARITIES. EXCESS OVER ESTIMATES FOR WANT OF ESTIMATES C WANT OF ESTIMATE, MISC IRREGULARITIES AND EXCESS OVER GRANTS D- IRREGULR SANCTION. ITEMS AWAITING SANCTION. LAPSED SANCTION.

44	PENALTY RECOERED BT TTE FROM’ WITHOUT TICKET PASSENGER IS CALLED	B
	A EXCESS FARE TICKET B EXCESS CHARGE C EXTRA FARE. D IRREGULAR FARE

45	ENTRIES IN GOODS RAILWAY RECEIPT WHICH ARE FOUND IN STATTION DELIVERY BOOK BUT NOT IN MACHINE PREPARED ABSTRACTS ARE CALLED	B
	A FORCED ENTRIES B INKED ENTRIES C FORGED ENTRIES D EXTRA ENTRIES

40	DIFFERENCE BETWEEN THE STATION & AUDITED FIGURES OF WARRANTS ND CREDIT NOTES ARE ADJUSTED IN TRAFFIC BOOK	A
	A PART-A B PART-B C PART-C D PART-D

47	HEAD BALANCE SHEET TRANSER IS OPERTED IN	A
	A TRAFFIC BOOK B BALANCE SHEET C ACCOUNTS OFFICE BALANCE SHEET D ADJUSTMENT BALANCE SHEET

48	HEAD BOOK TRANSFER IS OPERATED IN	A
	A PART-A B PART-B C PART-C D PART-D

49	TRAFFIC WHICH PASSES OVER A RAILWAY BUT NEITHER ORIGINATES NOR TERMINATES ON THE RAILWAY IS CALLED FOR THAT RAILWAY	A
	A CROSS TRAFFIC B INTER-RAILWAY TRAFFIC C FOREIGN TRAFFIC D LOCAL TRAFFIC

50	A PACKAGE WHICH IS TNDERED BY A PASSENGER FOR TEMPORARY CUSTODY AT STATION IS	B
	A LUGGAGE B LEFT LUGGAGE C PARCEL D GOODS

51	NON ISSUED TICKETS ARE THOSE TICKETS	B
	A WHICH ARE NOT TO BE ISSUED TO PSSSENGERS B WHICH WERE ISSUED TO THE PASSENGER BUT RETURNED UNUSED. C WHICH HAVE NOT BEEN ISSUED TO THE PASSENGERS D WHICH HAVE BEEN LOST

52	MONEY RECEIPT ISSUED TO TTEs IS IN	B
	A ITWOFOILS B THREE FOILS C FOUR FOILS D NONE OF THE ABOVE

53	TIA IMMEDIATELY ON ARRIVAL T STATION	B
	A TAKES INVENTORY OF CONSIGNMENT ON HAND B COUNTS CASH ON HAND C CLOSE THE BOOKS OF THE ST TATIONS D CHECKS THE LOWEST NUMBER OF TICKETS ON HAND

54	CASH IN TRANSIT MEANS	B
	A CASH RECEIVED IN CASH OFFICE FROM IST TO 3RD OF THE FOLLOWING MONTH B CASH OF A MONTH NOT RECEIVED IN CASH OFFICE EVEN UPTO 3RD OF THE FOLLOWING MONTH C CASH RECEIVED SHORT IN CASH OFFICE D CASH RECEIVED IN CASH OFFICE UPTO 8TH OF THE FOLLOWING MONTH

55	CASH CHECK IS PREPARED BY	C
	A TIA B STATION MASTER C CASH OFFICE D BANK

56	A CONTRACT UNDER WHICH THE PERIOD OF ITS CURRENCY, THE CONTRACTOR ENGAGES TO SUPPLY MATERIAL ON DEMAND IRRESPECIVE OF QUANTITY AT FIXED RATES OR PRICE WITH IN AGIVEN PERIOD OF RECEIPT OF SUCH DEMAND IS TERMED AS	A
	A RATE CONTRACT B RUNNING CONTRACT C ONEDELIVERY CONTRACT D PIECE WORK CONTRACT

57	SURVEY FALL UNDER HOW MANY CLASSES	D
	A ONE B TWO C THREE D FOUR

58	CASH BOOK IS USED TO RECORD	A
	A CASH TRANSACTION B CREDIT TRANSACTION C CASH & CREDIT TRANSACTION D ALL THE ABOVE

59	JOURNAL BOOK IS USED TO RECORD	C
	A CASH TRANSACTION B CREDIT TRANSACTION C CASH & CREDIT TRANSACTION D ALL THE ABOVE

60	LEDGER IS MAINTAINED TO KNOW	C
	A DEBIT POSITION OF A.ACCOUNT B. CREDIT POSITION OF ACCOUNT C NET POSITION OF A ACCOUNT D- NONE OF THE ABOVE