Questions

1.) A Purchase requisition amounting to Rs 9,50,000/- has been received.

The PR approving authority is:
a. HOD of Indenting Department
b. GM in grade G
c. CGM/ED
d. HOD of Materials Department

2.) For estimated value of Rs. 15,00,000/- the members of TC (Tender

Committee)should be:
a. Finance (Gr A),Indenting (Gr B) & Material (Gr B)
b. Finance (Gr A),Indenting (Gr A) & Material (Gr B)
c. Finance (Gr A),Indenting (Gr B) & Material (Gr A)
d. Finance (Gr B),Indenting (Gr B) & Material (Gr A)

3.) Maximum % of delay discount that can be deducted from vendor is

a. 10
b. 5
c. 15
d. 0.5

4.) In case of open tender, finance concurrence is not required of purchase

proposal valuing more than 10 lakhs:
a. Yes
b. No

5.) Workability and acceptance of rates can be approved by:

a. HOD of Department
b. PR Approving Authority
c. PO Approving authority
d. None of the above
Questions regarding Insurance:
Q: 1 what do Insurance companies assess while issuing insurance policy:

a) Balance sheet b) Risk c) Brand Name d) None of the Above

Q:2 For Insurance Policy cost, please choose statement which is correct:

a) Greater the risk greater the cost

b) Greater the risk Smaller the cost
c) Risk has no co-relation with the cost
d) None of the Above

Q:3 Is Insurance Policy a legal Agreement:

A) Yes b) No

Q: 4 The Body who regulates the Insurance Industry in India is:

a) Insurance Regulatory and Development Agency

b) Insurance Development and Regulatory Agency
c) Insurance Regulatory and Development Authority
d) Insurance Development and Regulatory Authority

Q:5 IRDA , the body who regulates the Insurance Industry in India established in:

a) 1995
b) 1999
c) 2001
d) 1872

Q:6 In case Damaged material is received at site, The first activity to be done is:

a) Endorsement on back of L/R will be made with signature of driver.

b) Surveyor to be called.
c) Estimate for repair to be prepared
d) None of the above

Q:7 In case of Over-Short-Damage-Reject (OSRD) delivery of material which of the offices

are to be informed:

a) PO issuing office
b) Vendors Office
c) Transporters Office
d) All of the above
Q: 8 the law relating to contracts in India is contained in Indian Contract Act passed in:

a) 1872
b) 1892
c) 1999
d) 1856

Q: 9 Insurance of Goods whilst in transit comes under:

A) Marine Insurance
B) Property Insurance
C) Motor Insurance
D) Life Insurance