Railway Accounts Department Examinations

Showing posts with label Today's MCQ. Show all posts
Showing posts with label Today's MCQ. Show all posts

Friday, October 9, 2020

Today’s MCQ - Multiple Choice Questions

 



Today’s MCQ

9th October 

17.  As per preamble of MSOP, If PHOD is not posted, the ________ can exercise the powers of PHOD

A.  PHOD of Sister Dept   B. HOD nominated by GM   C. Any HOD D.  CHOD

Answer:   D (Cordinated Head Of Department).  MSOP means Model Schedule Of Powers. 


18.For reverse auction two packet single stage system of tendering shall be followed for earnings Contracts _______________.

A. More than 5 Lakhs   B.  More than 50 Lakhs  C. Irrespective of the value D. More than 1 Crore 

8th October

16.  IRIFM is situated at _________________

  1. Vadodara  B. Kolkata   C. New Delhi D. Secunderabad

Answer : D (Secunderabad)

Material for above McQ


SN

CTI

Location

Headed by

Dept

1

NAIR

National Academy of Indian Railways

Vadodara

Director General

General for all Depts Personnel, Stores & Medical in particular

2

IRICEN

Indian Railways Institute of Civil Engineering

Pune

Director

Civil Engineering

3

IRISET

Indian Railway Institute of Signal Engineering & Telecommunications

Secunderabad

Director

S & T

4

IRIFM

Indian Railway Institute of Financial Management

Secunderabad

Director

Accounts

5

IRIMEE

Indian Railway Institute of Mechanical & Electrical Engineering

Jamalpur

Director

Mechanical

6

IRIEE

Indian Railway Institute of Electrical Engineering

Nasik

Director

Electrical

7

IRITM

Indian Railway Institute of Traffic Management

Lucknow

Director

Traffic

8

JRRPFA

Jagjivan Ram Railway Protection Force Academy, Lucknow

Lucknow

Director

Security

7th October

14.  Adviser (in Railway Board) is redesignated as a _____________


  1. Executive Director  B.  Principal Executive Director  C. Additional Member  

      D. None of these

Answer: B (Principal Executive Director)

  • PED is in grade of  HAG (Higher Administrative Grade). 

  • That is the reason PHOD posts in HAG of Zonal Railways/PUs are

renamed as PFA, PCPO, PCMM etc. 

15.  The Commercial Accounts of Indian Railways are known as_________

  1. Accrual Accounts  B. Finance Accounts  C. Capital & Revenue Accounts

      D. Commercial Accounts

Answer: C (Capital & Revenue Accounts)

  • The Government Accounts of Indian Railways are known as Finance Accounts. 

  • Accrual Accounts and Commercial Accounts are one and same. 

6th October

12.  Time elapsed from the date of realization of need of recoupment to the physical receipt of materials is termed as _______

  1. Buffer time  B. Interim period  C. Contract period  D.  Lead time

Answer:  D (Lead time)

13. Name the only coach which has given profits in Indian Railways ?

  1.  AC 3 tier   B. AC 2 tier  C.  Sleeper class  D. AC First class

Answer: A (AC 3 tier)


5th October


     11. Zonal Plan Head Coordinator for PH 65 - Training/HRD is _______

  1. PCE  B. PCPO  C.  PFA  D.  PCOM

Answer  B - PCPO

Material for Plan Head Coordinators for different PHs


PH No

PH Name

Plan Head Co-ordinator

Divisional

Zonal Rly/PU

11

New Lines

Sr.DOM

PCOM

14

Gauge Conversion

15

Doubling

16

Traffic Facilities

35

Electrification Projects

81

Metropolitan transport projects

 

PH No

PH Name

Plan Head Co-ordinator

Divisional

Zonal Rly/PU

29

Level Crossing Gates

Sr.DEN/Co

CTE

30

ROB/RUB

CBE

31

Track Renewals

CTE

32

Bridge Works

CBE

51

Staff Quarters

PCE

52

Staff Amenities

PCE

64

Other Specified works

PCE

 

PH No

PH Name

Divisional

Zonal Rly/PU

17

Computerisation

Sr.EDP

PCCM

33

S & T

Sr.DSTE

PCSTE

36

Other Electrical Works

Sr.DEE

PCEE

42

Workshops

Sr.DME

CWE

53

Passenger amenities & other rly. User amenities

Sr.DCM

PCCM


65

HRD/Training

Sr.DPO

PCPO


30th September

9.      Salary of PFA is accounted under Sub Major Head ______ of Major Head 3002 - Indian Railways Working Expenses (Commercial Lines)

 

 A. 01    B.03  C. 05  D. 07

 

Answer: 1  (Erstwhile Demand No. 03 – General Superintendence and Services)

 

·         Simple Rule is Erstwhile Demand Number minus 2 = SMH – Sub Major Head Number

·         The above rule is applicable for Erstwhile Demands 3 to 14 only

 

Material for above MCQ

Mapping of ErstwhileDemands with Sub Major Heads and Major Heads

10.     For Service contracts, Single packet system of tendering up to  Rs.50 Lakhs with normal eligibility criteria of 35% of value of similar nature of work, 150% of turnover during last 3 financial years plus a liquidity turnover of _________

A. 10 %  B. 5%   C. 20 %  D. 15 %

Answer: B 5%

 

Clickhere for GCC for Services

29th September, 2020

7.      The direct control over the affairs of all the Workshops including the Budgetary control   in a  Zonal Railway rests with:

 

A.    Chief  Planning Engineer (CPE)

B.     Chief Rolling Stock Engineer(CRSE)

C.     Chief Motive Power Engineer(CMPE)

D.    Chief Workshop Engineer(CWE)

Answer:  D – Chief Workshop Engineer

CRSE -  The technical control over the Carriage and Wagon maintenance activities of all depots, yards and open line in Zonal Railways

 

8.      Process Costing System is used in Production Units of:

A.    Rail Wheel Manufacture and Foundry Accounts

B.     Carriage Workshops

C.     Wagon Workshops

D.    Component Workshops

Answer:  A. Rail wheel manufacture and Foundry Accounts

 

(Batch costing  - for Rolling Stock Production  and Component costing for manufacture of Rolling stock spares)

28th September, 2020

5.     Who is responsible for watching of Canons of Financial Propriety ?

A.      Accounts officers  B. GM/DRM  C. Audit Officers  D  . None of these

Answer: C  

(Source: Para 116 of IR Finance Code)

6.       Performance Guarantee for Services Contract is _______

A. 5 %  B. 2 %   C. 10 %    D. 20 %

Logic: There is no Security Deposit provision in the Service Contracts.  Hence the PG – Performance Guarantee is 10 % in Service Contracts.  However in Works Contracts, SD- Security Deposit is 5 % and PG-Performance Guarantee is 5%. 

25th September 2020

3.     3.     Choose the order of the year of establishing the Railway Funds (chronological order)

A) Development Fund,  Capital Fund, IRFC , Railway Safety Fund, Depreciation Reserve Fund

B)  Depreciation Reserve Fund, Development Fund, Railway Safety Fund, Capital Fund, IRFC

C) Depreciation Reserve Fund, Development Fund, IRFC, Capital Fund, Railway Safety Fund

D) Development Fund, Depreciation Reserve Fund, Railway Safety Fund, Capital Fund, IRFC

Correct Answer :  C) Depreciation Reserve Fund, Development Fund, IRFC, Capital Fund, Railway Safety Fund

 

              Information for above MCQ

Funds

code

Established in year

Remarks

DRF- Depreciation Reserve Fund

21

1924

Previous name is Programme Revenue

D.F – Development Fund

I, II, III & IV

23,33,43 & 53

1950

Previous name is Betterment Fund

IRFC (Indian Railway Finance Corporation)

_

1986

It is a PSU – owned by Ministry of Railways for financing the Rolling Stock

C.F – Capital Fund

25

1992

Established in place of closed Railway Revenue Reserve Fund

R.S.F – Railway Safety Fund

26

2001

EBR (IF)

Extra Budgetary Resources (Institutional Finance)

_

2016

RRSK

(Rashtriya Rail SanrakshaKosh)

29

2017

Though it is not specified, it is a Second SRSF – Second Railway Safety Fund

 

 

 

 

 

 

 

 

 

 

 

 


4. Which one among the following is incorrect?

 

A.  EMD is 2% of the value of work, if the work value is up to Rs. 1 Crore.

 

B. If value of work is beyond Rs. 1 Crore, the EMD is Rs.2 Lakh plus 0.5 % of  the excess of the estimated cost of work beyond Rs. 1 Crore.

 

C. EMD of successful tenderer is retained as part of SD - Security Deposit.

 

D. EMD is applicable to Open Tenders only


Answer:  D) EMD is applicable to Open Tenders only.


Because EMD is applicable to all modes of Tenders such as Open, Limited, Single etc

Information on EMD - Works


ü  Earnest means – Showing sincere interest/serious in participating the Tender process, if awarded executing the Work for Organizations like Indian Railways.

 

ü  EMD – Earnest Money Deposit – means an earnest payment as specific form of Deposit to demonstrate that the applicant is serious/sincere to participate the Tender work and complete the work for orgnisations like Indian Railways, if awarded.

 

ü  EMD Rates are as follows.

 

Value of the Work

EMD Amount ( Rounded to a nearest Rs.100)

Up to Rs.1 Crore

2 % of value of the work

Beyond Rs. 1 Crore

Rs. 2 lakhs + 0.5 % of the excess of the estimated

cost of work beyond Rs.1 Crore

 

ü  Maximum EMD is Rs. One Crore only.

 

Examples for calculation of EMD under different circumstances: -

=======================================================

1.       Value of Work  - Rs. 25,60,520

 

2 % of Rs.25,60,520  - Rs. 51,210

 

Answer is Rs. 51,200 /- (Rounded off to a nearest Rs.100)

                 =======================================================

2.       Value of Work  - Rs. 4,00,00,000 ( Rs. Four Crores)

 

First one Crore

Rs.2,00,000 (Rs. Two Lakhs)

One Crore to Four Crore ( 3 Crores)

Rs.3 Crores x 0.5 % = Rs. 1,50,000 (Rs.1.5 Lakhs)

For Value of Rs.4 Crores

Rs.2 Lakhs plus Rs.1.5 Lakhs = Rs.3.5 Lakhs

 

                 =======================================================

3.       Value of Work  - Rs. Two Hundred Crores

 

First one Crore

Rs.2,00,000 (Rs. Two Lakhs)

One Crore to Two Hundred Crore ( 199 Crores)

Rs.199 Crores x 0.5 % = Rs.99,50,000

For Value of Rs.200 Crores

Rs.2,00,000 plus Rs.99,50,000 = Rs.1,01,50,000.  However maximum EMD is Rs.1 Crore.  So EMD is Rs.1,00,00,000/- ( Not Rs.1,01,50,000)

 

                 =======================================================

ü  EMD is applicable to all modes of Tenders such as Open, Limited, Single etc.

 

ü  Exemption for Submission of EMD – Firms recognized as “STARTUPS” by DIPP (Dept of Industrial Policy & Promotion.

 

ü  EMD of Successful Tenderer – Retained as part of Security Deposit.  But Railway shall return the EMD, if a Successful Tenderer submit “Term Deposit Receipt (TDR) / Bank Guarantee Bond towards the Full Security Deposit.

 

ü  EMD shall be deposited in Cash (through E-Payment Gateway) or as mentioned in Tender documents.

 

ü  EMD of unsuccessful Tenderers – Returned to them. But Railway is not liable to pay the depreciated value, if any or any interest on EMD.

 

ü  Forfeit of EMD:

 

1.       If the successful tenderer unable to submit the PG – Performance Guarantee within validity of time, or

2.       If the successful Tenderer resile/abandon from his offer, Or

3.       Modify the terms and conditions there of in a manner not acceptable to the Railways. 

24th September, 2020

 

1.     A Station Balance Sheet is a _________account of a Station Master.

               A) Railway  B) Personal  C) Station  D) Traffic

Correct Answer is B) Personal

Explanation:

·        The rule of Personal Account is “Debit the Receiver and Credit the Giver”  Here Station Master is responsible for what he receives Cash and vouchers at Booking office of his Station, so it is debited. 

·        At the same time, he relinquishes his responsibility by sending the Cash and Vouchers to the Traffic Accounts Office through Cash office. So credited.

2.     Salary of DSK at Engineering Stores Depot in Zonal Rly was chargeable to ___________

 

A) Erstwhile Demand No. 12/ SMH 10

B) Erstwhile Demand No. 07/ SMH 5

C) Erstwhile Demand No. 04/ SMH 2

D) Erstwhile Demand No. 03/ SMH 1

 

Correct Answer is D) Erstwhile Demand No. 03 /Sub Major Head 1

Explanation:

·        Name of the Erstwhile Demand No.03 /Sub Major Head 1 is “General Superintendence and Services” .  It consists of two branches A) General Superintendence B) Services.  Out of all the Depts, Personnel, Accounts and Stores are comes under “Services”.  So pay and allowances of staff working under these three depts are chargeable to erstwhile Demand No. 03 only, irrespective of whether they are working in GM office/DRM office or elsewhere (field offices). 

·        Remaining Depts (Other than Personnel, Accounts & Stores)are on functional lines and directly attributable to running of Trains. So Pay and allowances of field staff of these Depts are charged to erstwhile Demands Nos 4 to 10.  However the administrative staff of all Depts (In GMs office and DRMs Offices) are chargeable to Erstwhile Demand No. 03/SMH 01, because they are come under “General Superintendence”.

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