Knowledge Booster: EXPENDITURE_L1 Edition (19 Jul 2026)
Welcome to today's EXPENDITURE_L1 Knowledge Booster! We've handpicked 10 essential questions from our database to help you sharpen your skills. Dive in and test your knowledge!
Q1. Which type of contracts must be in writing and registered to be enforceable? किस प्रकार के अनुबंधों को लागू करने के लिए लिखित और पंजीकृत होना आवश्यक है?
- A) Sale of immovable property
- B) Buying groceries
- C) Lending money to a friend
- D) Online shopping orders
Correct Answer: Sale of immovable property
Explanation: Explanation : Certain contracts, like real estate transactions, must be in writing and registered to be legally valid.
Q2. IRFC stands for _____________ (Hint: source of Finance) IRFC का पूरा नाम _____________ है (संकेत: वित्त का स्रोत)
- A) Indian Railway Finance Corporation
- B) Indian Railway Finance Company
- C) Indian Railway Fiscal Corporation
- D) None of these
Correct Answer: Indian Railway Finance Corporation
Explanation: Explanation : मुख्यालय: नई दिल्ली Dedicated borrowing arm of Indian Railways
Q3. In Works Tenders, my features are 1. Agreed unit rates 2. Quantity not fixed 3. Contract period is fixed. Who am I ? निर्माण निविदाओं में, मेरी विशेषताएँ हैं: 1. प्रति इकाई दर पर सहमति 2. मात्रा निश्चित नहीं 3. अनुबंध अवधि निश्चित है। मैं कौन हूँ?
- A) Schedule Contract
- B) Piece Work Contract
- C) LUmp Sum Contract
- D) None of these
Correct Answer: Piece Work Contract
Explanation: Explanation :
Q4. PH 82 - Transfer to SRSF - Special Railway Safety Fund.SRSF is replaced as _____________ (recently)पीएच 82 - एसआरएसएफ में स्थानांतरण - विशेष रेलवे सुरक्षा निधि।SRSF को _____________ के रूप में प्रतिस्थापित किया गया है
- A) RRSK - Rashtriya Rail Sanraksha Kosh
- B) RSF - Railway Safety Fund
- C) No Change
- D) None of these
Correct Answer: RRSK - Rashtriya Rail Sanraksha Kosh
Explanation: Explanation : 1) Dedicated Fund for Railway Safety 2) Established in the year 2017-18
Q5. A contract that is impossible to perform is: वह अनुबंध जिसका निष्पादन असंभव है:
- A) Valid
- B) Void
- C) Enforceable
- D) Conditional
Correct Answer: Void
Explanation: Explanation : Contracts that require impossible actions, such as bringing a dead person to life, are void.
Q6. PG Shall submit in __________ within 30 days from LOA Issued date पीजी को एलओए जारी होने की तारीख से 30 दिनों के भीतर __________ में जमा करना होगा
- A) 2 separate parts of 2.5 % each
- B) 5 separate parts of 1 % each
- C) 1 part of 5 %
- D) 4 separate parts of 1.25 % each
Correct Answer: 4 separate parts of 1.25 % each
Explanation: Explanation : Forfeit of PG पीजी का 25% जब्त है - यदि लगाया गया जुर्माना लागू अधिकतम जुर्माने के 50% से अधिक है (अनुबंध के संशोधित मूल्य के अनुसार)
Q7. Which one of the following pair is Incorrect in regard to MSOP ? एमएसओपी के संबंध में निम्नलिखित में से कौन सा युग्म गलत है? MSOP के संबंध में निम्नलिखित में से कौन सी जोड़ी गलत है? एमएसओपी के संबंध में निम्नलिखित में से कौन सा युग्म गलत है?
- A) Part A - Works
- B) Part B - Medical
- C) Part C - Miscellaneous
- D) Part G - Commercial
Correct Answer: Part G - Commercial
Explanation: Explanation : Parts of MSOP G
Q8. The incidental costs i.e., _____ of Contract value towards issue and operation of LC - Letter of Credit shall be borne by the supplier /contractor. अनुबंध मूल्य के आकस्मिक खर्च, अर्थात् एलसी (लेटर ऑफ क्रेडिट) जारी करने और उसके संचालन से संबंधित _____ राशि आपूर्तिकर्ता/ठेकेदार द्वारा वहन की जाएगी।
- A) 0.15 %
- B) 0.25 %
- C) 0.50 %
- D) 0.75 %
Correct Answer: 0.15 %
Explanation: Explanation : Key Points on Letter of Credit: 1. Applicable for Works/Stores/Services/Maintenance contracts.
Q9. Public moneys should not be utilized for the benefit of a particular person or section of the community unless ____________ (Hint: Canons of financial propriety)सार्वजनिक धन का उपयोग किसी विशेष व्यक्ति या समुदाय के वर्ग के लाभ के लिए तब तक नहीं किया जाना चाहिए जब तक कि ____________ (संकेत: वित्तीय औचित्य के सिद्धांत)
- A) A claim for the amount could be enforced in a Court of Law.
- B) A claim for the amount sanctioned by General Manager
- C) A claim for the amount sanctioned by FC
- D) None of the above
Correct Answer: A claim for the amount could be enforced in a Court of Law.
Explanation: Explanation : Public moneys should not be utilized for the benefit of a particular person or section of the community unless- a. the amount of expenditure involved is insignificant ; or
Q10. In case the contractor fails to submit the requisite PG even after ______ from the date of issue of LOA, the Service contract shall be terminated duly forfeiting EMD and other dues, if any payable against that contract. यदि ठेकेदार एलओए जारी होने की तारीख से ______ के बाद भी अपेक्षित पीजी जमा करने में विफल रहता है, तो ईएमडी और अन्य देय राशि, यदि उस अनुबंध के विरुद्ध देय हो, को जब्त करते हुए सेवा अनुबंध को समाप्त कर दिया जाएगा।
- A) 30 days
- B) 45 days
- C) 60 days
- D) 90 days
Correct Answer: 90 days
Explanation: Explanation : PG - Performance Guarantee: A. 5% of the Contract Value B. 4 separate parts i.e., each 1.25 % of the Contract Value C. Due period: 30 days from the LOA D. 60 days - If the Contractor fails to furnish after 60 days from the LOA, a notice will be served to the Contractor to pay the same within 90 days from LOA E. 60th day is Bank Holiday or office closure, the next working should be considered as the last day for submission of PG . F. 15% - Penal Interest - 31st day to the Day of submitting PG The consequences of failure to submission of PG within 90 days are:
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