FMPAO Regulations MCQs

Solved FMPAO Regulations MCQs with answers and explanations. Free practice questions for PPSC, FPSC, CSS and other government job exams on FreeSekho.

1. 1. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(2)(d), the chief internal auditor shall initially be posted for a period not less than how many years, extendable for another such period?

   1. Three years
   2. Two years ✓
   3. Four years
   4. One year

2. 2. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(2)(a), the chief internal auditor shall work under direct supervision of the Secretary of a Division (principal accounting officer) and shall not be asked to work under the supervision of:

   1. The Finance Division under any circumstances
   2. The Establishment Division under any circumstances
   3. Any officer other than the Secretary of a Division (principal accounting officer) ✓
   4. The Auditor General under any circumstances

3. 3. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 19, the Finance Division shall issue what type of medium-term budget ceilings to the principal accounting officer?

   1. Multi-line detailed budget ceilings
   2. No ceilings, only annual lump sums
   3. Quarterly variable ceilings set by the Cabinet
   4. Single-line medium-term budget ceilings ✓

4. 4. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 12, the amount of allowances (such as travelling allowance) granted to meet expenditure of a particular type shall be regulated so that the allowances are not, on the whole, a source of:

   1. Profit to the recipient ✓
   2. Confusion in the accounting system
   3. Dispute between Divisions
   4. Delay in disbursement

5. 5. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 27, which body shall approve appointment of contingent paid staff within the budgetary provisions?

   1. The Planning Commission
   2. The Establishment Division exclusively
   3. The relevant Head of Department, without any Finance Division role
   4. The Finance Division ✓

6. 6. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 1(3) states that these regulations shall come into force:

   1. On a date to be notified separately
   2. One year after notification
   3. On the first day of the next financial year
   4. At once ✓

7. 7. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 14(f), the principal accounting officer shall have the authority to procure goods and services as per legal and regulatory provisions prescribed under which 2002 law?

   1. The Controller General of Accounts Ordinance, 2002
   2. The Public Procurement Regulatory Authority Ordinance, 2002 ✓
   3. The Civil Servants Act, 2002
   4. The Freedom of Information Ordinance, 2002

8. 8. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 16, the Finance Division shall be consulted, in accordance with which 1973 rules, on financial matters including costing, contingent liabilities, and cash forecasting?

   1. The Efficiency and Discipline Rules, 1973
   2. The Civil Servants Act, 1973
   3. The Fundamental Rules, 1973
   4. The Rules of Business, 1973 ✓

9. 9. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 31(f), a chief finance and accounts officer may be transferred before completion of the prescribed period on the written advice of the principal accounting officer or Finance Division to:

   1. The National Assembly
   2. The Establishment Division alone
   3. The Auditor General of Pakistan ✓
   4. The Prime Minister's Office alone

10. 10. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(2)(c)(i), the qualifications considered for posting as chief internal auditor include a Masters in Business Administration, Masters in Arts (Economics), Chartered Accountant, or member/fellow of which institute?

    1. The Pakistan Institute of Development Economics
    2. The Institute of Cost and Management Accountants ✓
    3. The Institute of Bankers Pakistan
    4. The Institute of Chartered Secretaries

11. 11. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 34, the Revised System of Financial Control and Budgeting 2000, and provisions of any other regulations contrary to these regulations, are repealed, except to the extent of:

    1. Defence Services, as specified in sub-regulation (2) of Regulation 1 ✓
    2. Provincial Governments' financial rules
    3. The Auditor General's internal staff regulations
    4. The Public Accounts Committee's own procedural rules

12. 12. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(3), officers who exercise financial powers delegated by the Secretary of a Division shall submit which reports to the Secretary (principal accounting officer)?

    1. Daily reports
    2. Only a monthly report
    3. Quarterly and annual reports ✓
    4. Only a report at the end of their tenure

13. 13. Under the Schedule to the Financial Management and Powers of Principal Accounting Officers Regulations, 2021 (Item 66, Relaxation of the prescribed time limit for submission of TA Bill), where a TA advance was drawn, the TA adjustment bill should be submitted within how many months of the date of performance of the journey, failing which the advance will be recovered?

    1. Six months ✓
    2. Three months
    3. One month
    4. One year

14. 14. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(2)(h), the posts of chief internal auditor shall be sanctioned in accordance with existing rules, and the positions so created shall belong to the Division concerned, and shall not be part of:

    1. Any specific service cadre or group ✓
    2. The Pakistan Administrative Service exclusively
    3. The Auditor General's cadre exclusively
    4. The Establishment Division's central pool exclusively

15. 15. Under the Schedule to the Financial Management and Powers of Principal Accounting Officers Regulations, 2021 (Item 24, Rent of non-residential buildings), for Ministries/Divisions other than Housing & Works, Defence, and Foreign Affairs, the limit for Islamabad, Rawalpindi, Lahore, Karachi, Peshawar, and Quetta is up to what amount per month?

    1. Rs. 100,000 (One Hundred Thousand)
    2. Rs. 1,000,000 (One Million)
    3. Rs. 250,000 (Two Hundred Fifty Thousand)
    4. Rs. 500,000 (Five Hundred Thousand) ✓

16. 16. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 23, the Finance Division may, in case of foreign funded development projects and programs, approve inclusion of an equal amount of surrendered funds in:

    1. The Public Account of the Federation only
    2. The current year's supplementary budget only
    3. A special reserve fund with no time limit
    4. The next year's budget ✓

17. 17. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 14(d), all Ministries and Divisions shall surrender to the Finance Division, by which date each year, all anticipated savings in grants, assignment accounts, or grants-in-aid controlled by them?

    1. The thirty-first day of May ✓
    2. The first day of March
    3. The fifteenth day of April
    4. The thirtieth day of June

18. 18. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(2)(g), the post of chief internal auditor shall be on the payroll of the Ministry or Division concerned, and his pay and allowances shall be charged to:

    1. The Auditor General's office budget
    2. The budgetary allocation of the Ministry or Division ✓
    3. A special central fund maintained by the Establishment Division
    4. The Finance Division's central budget, regardless of posting

19. 19. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 18, prior consultation with the Finance Division shall be made while initiating legislative proposals having financial implications, relating to establishment of funds, revenue, cess, levy, fee, deductions, remissions, and:

    1. Only judicial procedures
    2. Only diplomatic protocols
    3. Only criminal penalties
    4. Agreements ✓

20. 20. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(1)(t), the principal accounting officer shall provide a statement of revenues and expenditures related to public entities to the Finance Division on which basis?

    1. Annual basis
    2. Monthly basis
    3. Half yearly basis ✓
    4. Quarterly basis

21. 21. Under the proviso to Regulation 14(b) of the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, in an exceptional case of exigency, who may extend the prescribed time limit for re-appropriation before the close of the financial year?

    1. The Prime Minister personally, with no delegation possible
    2. The Finance Division ✓
    3. The Auditor General
    4. The Establishment Division

22. 22. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 8(a), under the Rules of Business, 1973, the Finance Division has been allocated business relating to finances of the Federal Government and sanctions of internal and external expenditure requiring:

    1. Approval of the Auditor General for every transaction
    2. Concurrence of the Finance Division ✓
    3. Concurrence of the Establishment Division only
    4. Approval of the National Assembly for every transaction

23. 23. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 28, an official of the Finance Division authorized in this behalf shall be part of various committees, including the Public Accounts Committee, departmental audit committee, departmental development working party, central development working party, and:

    1. The Senate Standing Committee on Defence
    2. The executive committee of the national economic council (ECNEC) ✓
    3. The National Security Committee
    4. The Council of Islamic Ideology

24. 24. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 32(8)(c), the chief finance and accounts officer shall watch the trend of excess and saving of expenditure, and receipts, and report to the principal accounting officer and Finance Division on which basis?

    1. Weekly basis
    2. Monthly basis only
    3. Quarterly basis ✓
    4. Annual basis only

25. 25. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 13, the delegation of financial powers to sub-ordinate officers and officials shall not diminish:

    1. The overall budget ceiling of the Ministry
    2. The authority of the Finance Division to issue guidelines
    3. The responsibility and accountability of the principal accounting officer for oversight ✓
    4. The role of the Auditor General in external audit

26. 26. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 31(g), the post of chief finance and accounts officer shall be on the payroll of:

    1. The Auditor General's office exclusively
    2. The Ministry or Division concerned ✓
    3. The Establishment Division exclusively
    4. The Finance Division exclusively, regardless of posting

27. 27. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(5), heads of autonomous bodies who have not been designated as principal accounting officers, but who receive funds from Government, shall exercise the same powers as are delegated to:

    1. The Finance Secretary
    2. A head of department under these regulations ✓
    3. The Auditor General
    4. The Prime Minister

28. 28. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 20, the Finance Division shall ensure budget estimates are appropriately reflected in the annual budget statement laid before the National Assembly, consistent with which Articles of the Constitution?

    1. Articles 232 and 234
    2. Articles 80 and 81 ✓
    3. Articles 90 and 99
    4. Articles 145 and 146

29. 29. Under the Schedule to the Financial Management and Powers of Principal Accounting Officers Regulations, 2021 (Item 83, Authorization of final payment of dues of a deceased government servant), full powers are available subject to production of an indemnity bond, provided the amount standing to the credit of the deceased subscriber does not exceed what amount?

    1. Rs. 10,000 (Ten thousand)
    2. Rs. 50,000 (Fifty thousand) ✓
    3. Rs. 500,000 (Five hundred thousand)
    4. Rs. 100,000 (One hundred thousand)

30. 30. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 32(11), in respect of internal audit, the chief finance and accounts officer shall cooperate with whom in making the annual internal audit plan?

    1. The Establishment Division exclusively
    2. The Auditor General personally, with no other involvement
    3. The Public Accounts Committee directly
    4. The chief internal auditor and the audit committee ✓

31. 31. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(2)(f), the chief internal auditor may be transferred before completion of the prescribed period on the written request of the principal accounting officer to:

    1. The Finance Division ✓
    2. The Auditor General exclusively
    3. The Establishment Division exclusively
    4. The Prime Minister's Office

32. 32. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 26, which body shall approve cases for creation of posts within the budgetary provisions and as per instructions issued from time to time?

    1. The Finance Division ✓
    2. The Public Accounts Committee
    3. The Establishment Division alone
    4. The National Assembly Standing Committee on Finance

33. 33. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(1), the appointment, role, and responsibilities of the chief internal auditor are prescribed under section 29 of which law?

    1. The Public Finance Management Act, 2019 ✓
    2. The Auditor General's Ordinance, 2001
    3. The Civil Servants Act, 1973
    4. The Rules of Business, 1973

34. 34. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 31(e), a chief finance and accounts officer shall directly report to and work under the supervision of whom, and shall not be placed under any other officer's supervision?

    1. The Chief Internal Auditor
    2. The Auditor General of Pakistan
    3. The Establishment Secretary
    4. The Secretary of the Ministry or Division (principal accounting officer) ✓

35. 35. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 5, the Finance Division shall process a case for designation of a principal accounting officer and notify it in the official Gazette with the prior approval of:

    1. The Prime Minister ✓
    2. The Federal Cabinet as a whole
    3. The National Assembly
    4. The Auditor General

36. 36. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, in which Gazette notification (S.R.O. number) were these regulations approved and published?

    1. S.R.O. 285(I)/2021 ✓
    2. S.R.O. 368(I)/2010
    3. S.R.O. 246(I)/2001
    4. S.R.O. 135(I)/98

37. 37. Under the Schedule to the Financial Management and Powers of Principal Accounting Officers Regulations, 2021 (Item 3, Abolition of posts), a post in any Division, Office, or Department which has remained vacant for a period of how many years or more shall be deemed to have been abolished?

    1. One year
    2. Three years ✓
    3. Two years
    4. Five years

38. 38. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 25, if any lump provision is required to be maintained in the budget, it shall be part of the demand for grants under the control of:

    1. The Auditor General's office
    2. The Planning Commission exclusively
    3. The relevant Provincial Government
    4. The Finance Division ✓

39. 39. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 2(1)(a), the term 'Act' is defined as:

    1. The Civil Servants Act, 1973
    2. The Rules of Business, 1973
    3. The Public Finance Management Act, 2019 ✓
    4. The Auditor General's (Functions, Powers and Terms and Conditions of Service) Ordinance, 2001

40. 40. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(1)(p), the principal accounting officer shall furnish a reconciled statement of revenue and expenditure to the Finance Division on which basis?

    1. Monthly basis
    2. Half-yearly basis
    3. Annual basis
    4. Quarterly basis ✓

41. 41. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(4), the Secretary of a Division, other designated officials, and heads of departments shall be described as being responsible for financial propriety, performance-based budgeting, and expenditure control in what manner?

    1. Jointly and severally ✓
    2. Only the Secretary is responsible, with no shared liability
    3. Only the Finance Division is ultimately responsible
    4. Responsibility rests solely with the Auditor General

42. 42. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(2)(b), the chief internal auditor shall be an officer of which Basic Pay Scale?

    1. BPS 21 or 22
    2. BPS 19 or 20 ✓
    3. BPS 16 or 17
    4. BPS 17 or 18

43. 43. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 8(d), an expenditure sanction order issued to the Accountant General Pakistan Revenue or accounting office with the approval of the principal accounting officer shall not require endorsement from:

    1. The Establishment Division
    2. The Cabinet Division
    3. The Auditor General
    4. The Finance Division ✓

44. 44. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, the Schedule to the regulations is titled 'Financial Powers delegated to Principal Accounting Officers and Other Officials', and it sets out powers delegated to the principal accounting officer, heads of departments, and:

    1. Heads of sub-ordinate offices ✓
    2. Provincial Finance Secretaries
    3. Foreign diplomatic missions
    4. Members of the National Assembly

45. 45. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(1)(p), the principal accounting officer shall monitor budget execution and undertake reconciliation with accounting offices on which basis?

    1. Monthly basis ✓
    2. Weekly basis
    3. Annual basis only
    4. Bi-annual basis only

46. 46. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 5, who has the authority to designate any officer as principal accounting officer, on the recommendation of the administrative Secretary of the Division concerned and the Finance Division?

    1. The Auditor General of Pakistan
    2. The Prime Minister ✓
    3. The President
    4. The Cabinet Secretary

47. 47. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 6, a principal accounting officer shall be accountable before which body, including all relevant Committees, for the use of resources and propriety of expenditure?

    1. The Provincial Assembly concerned
    2. The Council of Common Interests
    3. The Parliament of Pakistan ✓
    4. The Supreme Court of Pakistan

48. 48. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 30, the office of chief finance and accounts officer shall be headed by a senior level officer responsible for assisting and supporting whom in managing financial affairs?

    1. The Chief Internal Auditor
    2. The principal accounting officer ✓
    3. The Auditor General of Pakistan
    4. The Establishment Secretary

49. 49. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 22, the Finance Division may, on request, extend the date for:

    1. Re-appropriation of funds ✓
    2. The financial year itself
    3. The term of the National Assembly
    4. The tenure of the principal accounting officer indefinitely

50. 50. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 31(b), a chief finance and accounts officer shall be posted with the Secretary (principal accounting officer) of a Ministry or Division, and in case of non-availability of BPS-20 officers, senior officers of which service in BPS-19 may be considered?

    1. The Pakistan Administrative Service
    2. The Pakistan Audit and Accounts Service (PAAS) ✓
    3. The Foreign Service of Pakistan
    4. The Police Service of Pakistan

51. 51. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 1(2) states that these regulations apply to all Federal Government Ministries, Divisions, attached departments, and subordinate offices, EXCEPT which services, for which new financial regulations shall be notified by the Ministry of Defence?

    1. Police Services
    2. Defence Services ✓
    3. Judicial Services
    4. Foreign Affairs Services

52. 52. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, these regulations were made in exercise of powers conferred by which section of the Public Finance Management Act, 2019?

    1. Section 27 ✓
    2. Section 23
    3. Section 29
    4. Section 11

53. 53. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(1)(q), grant-in-aid shall not be a recurring budget feature, and it shall be approved only after detailed review, in accordance with which section of the Public Finance Management Act, 2019?

    1. Section 6 ✓
    2. Section 29
    3. Section 23
    4. Section 11

54. 54. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, who signed the notification on behalf of the Finance Division, as shown at the end of the regulations?

    1. The Federal Finance Minister personally
    2. Malik Riaz Ahmed, Deputy Secretary (PFMR) ✓
    3. The Secretary, Establishment Division
    4. The Auditor General of Pakistan

55. 55. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(1)(r), the principal accounting officer is responsible for control over contingent liabilities, and payment of salaries and pension to employees of public entities shall be met from:

    1. A special emergency fund maintained by the Finance Division
    2. Donor grants exclusively
    3. The resources of the public entities themselves, not unnecessarily shifted to the government exchequer ✓
    4. The government exchequer exclusively, in all cases

56. 56. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 31(d), during his posting, a chief finance and accounts officer shall NOT be given the additional charge of the post of Joint Secretary, Deputy Secretary, chief internal auditor, or any other post, and after transfer, he shall not be given the role of external auditor for that Ministry or Division for a period of:

    1. One year
    2. Five years
    3. Three years ✓
    4. Six months

57. 57. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 8(f), the principal accounting officer shall be assisted by whom in matters related to financial management?

    1. The Auditor General personally
    2. The chief internal auditor exclusively
    3. The Establishment Secretary
    4. The chief finance and accounts officer ✓

58. 58. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 31(i), the performance evaluation report of a chief finance and accounts officer shall be initiated or written by the Secretary of the Division concerned, and the countersigning shall be decided in consultation with:

    1. The Establishment Division ✓
    2. The Public Accounts Committee
    3. The Finance Secretary exclusively
    4. The Auditor General exclusively

59. 59. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(3)(e), the chief internal auditor shall release internal audit reports to officers concerned only and take all necessary steps to keep the reports:

    1. Confidential ✓
    2. Shared automatically with all Ministries
    3. Publicly available on the Division's website
    4. Published in the official Gazette

60. 60. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 15, the Finance Division is responsible for carrying out specific functions under the Constitution and provisions of the Public Finance Management Act, 2019, and which 2005 law relating to debt limitation?

    1. The Fiscal Responsibility and Debt Limitation Act, 2005
    2. The Federal Consolidated Fund Act, 2005
    3. The Public Debt Management Act, 2005
    4. The Federal Responsibility and Debt Limitation Act, 2005 ✓

61. 61. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 3(1), the principal accounting officer shall be responsible for all financial matters relating to offices under his administrative control and shall act as:

    1. A member of the judiciary overseeing financial disputes
    2. An advisor to the Auditor General with no direct responsibility
    3. Custodian and operator of the financial resources ✓
    4. Only a ceremonial signatory with no operational role

62. 62. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 10, the principal accounting officer shall ensure that expenditure is not, prima facie, more than the occasion demands, and that every government servant exercises the same vigilance as:

    1. An external auditor conducting a statutory audit
    2. A member of the Public Accounts Committee
    3. A judge presiding over a financial dispute
    4. A person of ordinary prudence would exercise in respect of the expenditure of his own money ✓

63. 63. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 31(h), any addition or reduction in the existing sanctioned posts of the chief finance and accounts officer shall be decided by the Auditor General of Pakistan in consultation with:

    1. The Public Accounts Committee only
    2. The Finance Division and Establishment Division ✓
    3. The National Assembly Standing Committee on Finance only
    4. The Planning Commission only

64. 64. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(1), the appointment, role, and responsibilities of the chief internal auditor shall be as prescribed under which 1973 law, in consultation with the Auditor General of Pakistan?

    1. The Rules of Business, 1973
    2. The Civil Servants Act, 1973 ✓
    3. The Removal from Service Ordinance, 1973
    4. The Fundamental Rules, 1973

65. 65. Under the Schedule to the Financial Management and Powers of Principal Accounting Officers Regulations, 2021 (Item 42, Unforeseen Expenditure), the Head of Department has powers up to what amount, while the principal accounting officer has full power?

    1. Rs. 100,000 (One Hundred Thousand) ✓
    2. Rs. 1,000,000 (One Million)
    3. Rs. 50,000 (Fifty Thousand)
    4. Rs. 500,000 (Five Hundred Thousand)

66. 66. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 8(e), an expenditure sanction issued by the Finance Division with the approval of the Finance Secretary shall not require endorsement from:

    1. The Auditor General of Pakistan
    2. The Cabinet Division
    3. The Establishment Division ✓
    4. The Prime Minister's Office

67. 67. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 32(15), the chief finance and accounts officer's functions in respect of disbursements, payments, and pre-audit are exercised under which 2001 law governing the Controller General of Accounts?

    1. The Public Procurement Regulatory Authority Ordinance, 2001
    2. The Freedom of Information Ordinance, 2001
    3. The Federal Public Service Commission Ordinance, 2001
    4. The Controller General of Accounts (Appointment, Function and Power) Ordinance, 2001 ✓

68. 68. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 24(1), the Finance Division shall have a monitoring unit to maintain an electronic database of the financial and operational performance of:

    1. Private sector companies only
    2. Provincial Governments only
    3. State-owned enterprises ✓
    4. Foreign diplomatic missions only

69. 69. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 21, the Finance Division shall examine proposals for supplementary grant or technical supplementary grant and provide its opinion to the Economic Coordination Committee of Cabinet or:

    1. The Federal Cabinet ✓
    2. The Auditor General of Pakistan
    3. The Provincial Assembly concerned
    4. The Public Accounts Committee exclusively

70. 70. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 17, financial policy guidelines and instructions issued by the Finance Division may include funds-release strategy, measures of austerity, commitment control system, and:

    1. Only matters relating to defence procurement
    2. Only judicial appointment procedures
    3. Internal control in Ministries and Divisions, internal audit charter, and assignment account procedures ✓
    4. Only foreign policy directives

71. 71. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 32(1)(a), in respect of budgeting, the chief finance and accounts officer shall undertake budget planning and execution, and shall:

    1. Present the budget directly to the National Assembly
    2. Bypass the principal accounting officer in all budget matters
    3. Approve the final budget without reference to the principal accounting officer
    4. Coordinate the entire budgeting activity in the Division and departments, sub-ordinate offices, organizations under the Division ✓

72. 72. Under the Schedule to the Financial Management and Powers of Principal Accounting Officers Regulations, 2021 (Item 59, Fixation of initial pay by grant of premature increments), full powers are subject to a grant of not more than how many premature increments for the initial fixation of pay?

    1. Three
    2. Six ✓
    3. Two
    4. Ten

73. 73. Under the Schedule to the Financial Management and Powers of Principal Accounting Officers Regulations, 2021 (Item 2), details of temporary posts converted into permanent during the course of a financial year should invariably be reported to the Finance Division before which date each year?

    1. The 31st of May
    2. The 31st of December
    3. The 1st of October ✓
    4. The 1st of July

74. 74. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(6), which organization of the Finance Division has been disbanded under the Public Finance Management Act, 2019?

    1. The Budget Wing
    2. The Financial Advisor's organization ✓
    3. The Debt Management Office
    4. The Economic Affairs Division

75. 75. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(1)(l), the principal accounting officer is responsible for sanctioning expenditure as per delegated financial powers, and such sanctioning shall not exceed:

    1. The previous year's expenditure level
    2. Any limit, provided Cabinet is informed afterward
    3. Twice the allocated budget in urgent cases
    4. The allocated budget ✓

76. 76. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 31(c), the posting of an officer as chief finance and accounts officer shall be notified by the Establishment Division in consultation with:

    1. The Auditor General of Pakistan ✓
    2. The Prime Minister personally
    3. The Finance Secretary alone
    4. The Planning Commission

77. 77. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 32(2)(e), in respect of revenues estimation, the chief finance and accounts officer shall monitor the collection and reconciliation of non-tax revenue receipts by departments under the jurisdiction of the principal accounting officer, except in the case of:

    1. The Auditor General's office
    2. The Establishment Division
    3. The Planning Commission
    4. The Federal Board of Revenue ✓

78. 78. Under the Schedule to the Financial Management and Powers of Principal Accounting Officers Regulations, 2021 (Item 8, Write off of irrecoverable value of stores or public money), the principal accounting officer has full powers to write off losses up to what amount in each case, subject to prescribed conditions?

    1. Rs. Five hundred thousand
    2. Rs. One hundred million
    3. Rs. One million
    4. Rs. Ten million ✓

79. 79. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(2)(k), the principal accounting officer shall form an internal audit committee, and the chief internal auditor shall serve as:

    1. The Chairman of the audit committee in every case
    2. A liaison to the Public Accounts Committee only, with no committee role
    3. An external, non-participating observer of the audit committee
    4. A member/Secretary to the audit committee ✓

80. 80. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 32(8)(b), the chief finance and accounts officer shall supervise maintenance of accounts and their timely reconciliation with actual figures of the Accountant General of Pakistan Revenue or the banks, Finance Division, Economic Affairs Division, or development partners, on which basis?

    1. Annual basis only
    2. Monthly basis ✓
    3. Weekly basis
    4. Quarterly basis only

81. 81. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(1)(e), the principal accounting officer is responsible for seeking prior approval from the Finance Division or other relevant authority on matters related to:

    1. Non-delegated financial authority ✓
    2. Purely ceremonial protocol matters
    3. Routine, fully delegated day-to-day expenditure only
    4. Matters already approved by the Cabinet

82. 82. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, on what date were these regulations published in the Gazette of Pakistan?

    1. 26th September, 1973
    2. 8th March, 2021 ✓
    3. 1st June, 2010
    4. 16th January, 2019

83. 83. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(2), an officer designated as principal accounting officer, other than the Secretary of a Division, shall submit which reports about exercise of financial powers to the Secretary of the administrative Division?

    1. Only a report upon retirement
    2. Only an annual report
    3. Only a weekly report
    4. Monthly, quarterly, and annual reports ✓

84. 84. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 7(1)(u), the principal accounting officer is responsible for attending meetings of the Public Accounts Committee and holding meetings of which committee on a regular basis?

    1. The National Economic Council
    2. The Economic Coordination Committee
    3. The Central Development Working Party
    4. The Departmental Accounts Committee ✓

85. 85. Under the proviso to Regulation 4(2) of the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, if the head of an organization holds a constitutional position, who may be designated as principal accounting officer instead?

    1. A retired judge of the Supreme Court
    2. A member of the Public Accounts Committee
    3. Any other senior officer of the organization ✓
    4. An officer from a different Ministry entirely

86. 86. Under the Schedule to the Financial Management and Powers of Principal Accounting Officers Regulations, 2021 (Item 2, Conversion of a temporary post into a permanent post), the Secretaries of Ministries/Divisions have full powers subject to conditions including that the post has been in existence continuously for how many years or more?

    1. Five years ✓
    2. Three years
    3. Two years
    4. Ten years

87. 87. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 14(c), the principal accounting officer must exercise due diligence in re-appropriating budget from expenditure heads such as pay and allowances, pensions, utilities, and rents, and requests for supplementary budget may not be entertained for a head from which:

    1. No expenditure occurred in the current year
    2. The head was newly created that year
    3. The budget was fully spent in the previous year
    4. Funds have been re-appropriated during the year ✓

88. 88. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 14(a), as required under section 23 of the Public Finance Management Act, 2019, no authority shall incur or commit expenditure from the Federal Consolidated Fund and Public Account of the Federation until it has been sanctioned by a competent authority and provided for through the schedule of authorized expenditure, supplementary grant or technical supplementary grant under which Article of the Constitution, or re-appropriation under section 11 of the Act?

    1. Article 84 ✓
    2. Article 83
    3. Article 80
    4. Article 81

89. 89. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 14(h), the principal accounting officer shall abide by instructions, notifications, and guidelines provided by which body related to development projects or schemes under the Act?

    1. The Council of Common Interests
    2. The Planning Commission ✓
    3. The Federal Public Service Commission
    4. The National Assembly Standing Committee on Finance

90. 90. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 4(2), no official shall be notified as principal accounting officer unless such official is a head of department or subordinate office, an officer controlling a specific budgetary demand for grant, or:

    1. An officer with at least twenty-five years of service
    2. An officer holding a postgraduate degree in economics
    3. An officer controlling one or more cost centres where a strategic interest is involved ✓
    4. An officer nominated directly by the National Assembly

91. 91. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 32(13)(a), in respect of risk management, the chief finance and accounts officer shall assist the principal accounting officer and chief internal auditor in undertaking, on what frequency, an exercise to assess or evaluate risks faced by the Division?

    1. Annually ✓
    2. Monthly
    3. Quarterly
    4. Only once, at the time of the Division's establishment

92. 92. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 31(c), a chief finance and accounts officer shall initially be posted for a period not less than how many years, extendable for another such period?

    1. Two years ✓
    2. Three years
    3. One year
    4. Five years

93. 93. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 29, the Finance Division shall provide opinion on financial matters related to development projects and schemes in light of:

    1. Only informal verbal briefings
    2. Medium term macroeconomic and fiscal frameworks ✓
    3. Only the preferences of the executing agency
    4. Only the previous year's audit report

94. 94. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 2(1)(b), the term 'attached department' is defined by reference to which other law?

    1. The Civil Servants Act, 1973
    2. The Public Finance Management Act, 2019
    3. The Rules of Business, 1973 ✓
    4. The Controller General of Accounts Ordinance, 2001

95. 95. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(2)(d), the posting of an officer as chief internal auditor shall be notified by the Establishment Division on the recommendation of:

    1. The Planning Commission
    2. The Finance Division ✓
    3. The Auditor General exclusively
    4. The Public Accounts Committee

96. 96. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 11, no payment order or sanction of expenditure shall be issued which directly or indirectly benefits its own advantage or a selected community, unless the expenditure is by order of a competent court of law or:

    1. Recommended informally by a senior officer
    2. Requested by a foreign donor agency
    3. Approved by a simple majority vote of departmental staff
    4. In pursuance of Government approved policy ✓

97. 97. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 14(b), as per section 11 of the Public Finance Management Act, 2019, the principal accounting officer may approve re-appropriation of funds from one expenditure item to another within the same budget grant by which date each year?

    1. The thirtieth day of June
    2. The thirty-first day of December
    3. The thirty-first day of May ✓
    4. The first day of July

98. 98. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 32(7)(a), in respect of cash management, the chief finance and accounts officer shall assist the principal accounting officer in implementation of the Cash Management and Treasury Single Account (TSA) Rules of which year?

    1. 2020 ✓
    2. 2021
    3. 2018
    4. 2019

99. 99. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 33(2)(c)(ii), preference for posting as chief internal auditor shall be given to officers having a minimum experience of how many years in the financial working of a Ministry or Division?

    1. Five years ✓
    2. Three years
    3. Two years
    4. Ten years

100. 100. Under the Financial Management and Powers of Principal Accounting Officers Regulations, 2021, Regulation 24(1)(c), the monitoring unit undertakes analysis and generates reports on, among other things, investment in, loans to, and:

     1. Foreign aid disbursed to NGOs
     2. Judicial appointments in commercial courts
     3. Government guarantees for state-owned enterprises ✓
     4. Diplomatic postings abroad