GFR 2017 MCQ CONTRACT MANAGEMENT

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  1. All contracts shall be made by an authority empowered to do so by or under the orders of the President in terms of
    (a) Article 299 (1) (b) Article 299 (2)
    (c) Article 301 (1) (d) Article 301 (2)
    Answer

    Answer: A

  2. The various classes of contracts and assurances of property, which may be executed by different authorities, are specified in the Notifications issued from time to time by the
    (a) Ministry of Finance (b) Ministry of Law
    (c) Ministry of Trade & Commerce (d) Ministry of Industries
    Answer

    Answer: B

  3. The powers of various authorities, the conditions under which such powers should be exercised and the general procedure prescribed with regard to various classes of contracts and assurances of property are laid down in
    (a) Rule 107 of GFR 2017 (b) Rule 79 of R&P 1983
    (c) Rule 52 of GAR 1990
    (d) Rule 21 of the Delegation of Financial Powers Rules.
    Answer

    Answer: D

  4. State whether true or false
    The modifications in standard forms of contracts should be carried out only after obtaining legal advice.
    (a) True (b) False
    Answer

    Answer: B

  5. A Ministry or Department may, at its discretion, make purchases by issuing purchase orders containing basic terms and conditions of value up to
    (a) Rs. 200000/- (b) Rs. 250000/-
    (c) Rs. 300000/- (d) Rs. 500000/-
    Answer

    Answer: B

  6. Tender documents include the General Conditions of Contract (GCC), Special Conditions of Contract (SCC) and scope of work, the letter of acceptance will result in a binding contract in respect of Works Contracts, or Contracts for purchases valued between
    (a) Rs. 100000-500000 (b) Rs. 200000-1000000
    (c) Rs. 100000-1000000 (d) Rs. 200000-1000000
    Answer

    Answer: C

  7. A Contract document should be executed, with all necessary clauses to make it a self-contained Contract in respect of contracts for works with estimated value and purchase of
    (a) Rs. 1000000 or above (b) Rs. 1500000 or above
    (c) Rs. 2000000 or above (d) Rs. 5000000 or above
    Answer

    Answer: A

  8. Contract document should be invariably executed in cases of following except
    (a) turnkey works (b) maintenance of equipment
    (c) provision of services (d) purchase of IT products
    Answer

    Answer: D

  9. Contract document, where necessary, should be executed
    (a) within 21 days of the issue of letter of acceptance
    (b) within 21 days of the opening of bid
    (c) within 30 days of the issue of letter of acceptance
    (d) within 30 days of the opening of bid
    Answer

    Answer: A

  10. State whether true or false
    Non-executing a contract by the Contractor or Supplier within the prescribed period would not constitute sufficient ground for annulment of the award and forfeiture of Earnest Money Deposit.
    (a) True (b) False
    Prepared by Deepak Kumar Rahi, AAO/Local Audit Department, Patna
    Answer

    Answer: B

  11. Contract in which the price payable for supplies or services under the contract is determined on the basis of actual cost of production of the supplies or services concerned plus profit either at a fixed rate per unit or at a fixed percentage on the actual cost of production is called
    (a) Fixed Rate Contract (b) Finished Rate Contract
    (c) Cost Plus Contract (d) Negotiated Contract
    Answer

    Answer: C

  12. Price Variation Clause can be provided only in long-term contracts, where the delivery period extends
    (a) up-to 18 months (b) up-to 36 months
    (c) beyond 36 months (d) beyond 18 months
    Answer

    Answer: D

  13. The variations under Price Variation Clause are calculated by using indices published by Governments or
    (a) Chambers of Commerce (b) Chambers of Trade
    (c) Chambers of Industries (d) All of the threes
    Answer

    Answer: A

  14. No price adjustment under Price Variation Clause will be made in favour of the supplier where resultant increase is lower than
    (a) 1% (b) 2%
    (c) 5% (d) 10%.
    Answer

    Answer: B

  15. No price variation will be admissible beyond the original Scheduled Delivery Date for defaults on the part of the supplier. However, it may be allowed beyond the original Scheduled Delivery Date, by specific
    alteration of that date through an amendment to the contract in cases of Force Majeure or defaults by Government.
    (a) True (b) False
    Answer

    Answer: A

  16. Copies of all contracts and agreements for purchases, and of all rate and running contracts entered into by civil departments of the Government other than the departments like the DGS&D should be sent to the Audit Officer and /or the Accounts officer as the case may be when value of the contracts/agreements are of
    (a) Rs. 10 lakh and above (b) Rs. 15 lakh and above
    (c) Rs. 20 lakh and above (d) Rs. 25 lakh and above
    Answer

    Answer: D

  17. Provision for recovery of liquidated damages applies when
    (a) Item/service received less than supply/work order
    (b) Description of items are different than what required in supply order
    (c) Items/services delivered beyond scheduled delivery date
    (d) Items/service supplied or rendered are in damaged/inappropriate condition.
    Answer

    Answer: C

  18. No claim for the payment from contractor shall be entertained after the lapse of
    (a) 3 years of arising of the claim. (b) 5 years of arising of the claim
    (c) 7 years of arising of the claim (d) 10 years of arising of the claim
    Answer

    Answer: A

  19. Monthly review should be made of all bank guarantees or other instruments expiring
    (a) within 6 months (b) after 6 months
    (c) within 3 months (b) after 3 months
Answer

Answer: D

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