Top MCQs on PFMS (Public Fund Management System)
In which year was the PFMS
launched in India?
1) 2010
2) 2011
3) 2012
4) 2013
Which
government department is responsible for the execution of PFMS in India?
1) Ministry of Finance
2) Ministry
of Home Affairs
3) Ministry
of External Affairs
4) Ministry
of Commerce and Industry
What
is the main Purpose of PFMS?
1) To provide a Clear and
accountable financial management system
2) To control
or regulate financial transactions in the government
3) To manage
public funds & investments
4) To
provide loans and grants to the public
Which
of the following is not a function of PFMS?
1) Direct
Benefit Transfer
2) Fund flow
tracking
3) Budget preparation
4)
Electronic payment
Who
is eligible to access PFMS in India?
1) only Government officers
2) Public &
private institutions
3) General
public
4) Foreign
investors
How
does the PFMS encourage transparency in government transactions?
1) By delivering a
transparent system for the financial transactions
2) By
limiting number of the people who can access the financial records
3) By removing
the need for cash transactions
4) By offering
the grants to poor people
Which
of the following is not a characteristics or feature of PFMS?
1) Improved
transparency
2) Well
monitoring of the funds
3) Reduced
delays in the payments
4) Increased tax rates
Which
among is a part or component of PFMS?
1) Direct Benefit
Transfer
2) Goods &
Services Tax
3) National
Rural Employment Guarantee Scheme(NRHM)
4) (PDS) Public
Distribution System
What
is the Responsibility of the CAG in PFMS?
1) To Handle the
financial records of the government
2) To
implement the PFMS system
3) To manage
public funds
4) To formulate
the budget for the government
Which
type of Govt. schemes were originally managed by PFMS?
1) Welfare schemes
2) Defence
schemes
3) Foreign
aid schemes
4)
Agricultural schemes
Which
organization has the responsibility for the implementation of the PFMS in
India?
1) Reserve
Bank of India
2) Ministry of Finance
3) National
Informatics Centre
4) National
Payments Corporation of India
What
is the minimum amt. limit for payments made via PFMS?
1) Rs. 10
2) Rs. 100
3) Rs. 1,000
4) There is no minimum
limit
Which
among the below transactions can be made through PFMS?
1) Only electronic
transactions
2) Only cash
transactions
3) Both
electronic and cash transactions
4) None of
the above
What
is process to transfer payments directly into the beneficiaries bank accounts
called in PFMS.
1) Direct Benefit
Transfer (DBT)
2) Direct
Tax Transfer (DTT)
3) Direct
Fund Transfer (DFT)
4) Direct
Payment Transfer (DPT)
Which
of the following is not an advantage of using PFMS?
1) Faster
and efficient payments
2) Reduced
errors and frauds
3) Improved
financial reporting
4) Increased government
debt
What
is the Max time limit for solving discrepancies in payments made through PFMS?
1) 7 days
2) 14 days
3) 21 days
4) 30 days
How
does PFMS help government in tracking the fund utilization?
1) By
linking government schemes with bank accounts
2) By delivering real-time
data on fund utilization
3) By
creating a record of all financial transactions
4) All of
the above
Which
of the following is not a part of PFMS?
1) Financial
Management Information System (FMIS)
2) Treasury
Management System (TMS)
3) Payroll
Management System (PMS)
4) Goods and Services
Tax (GST)
PFMS
is presently being used by which of the following countries?
1) India
only
2) India and
Nepal
3) India and
Bhutan
4) India, Bhutan, and
Nepal.