Stores, scrap & material accounting — questions with answers

Q1.To what extent does the sectional AEN test check each item of released material in the summary sheet?

1. 20%
2. 10%
3. 5%
4. 50%

Q2.For stock items received against Railway contracts, the depot prepares the Receipt Note in how many copies?

1. 6
2. 3
3. 5
4. 4

Q3.Which of the following is a PRIMARY objective of integrated materials management?

1. Making economic 'make or buy' decisions
2. Achieving high inventory turnover by keeping low average stocks
3. Developing inter-departmental harmony
4. Ensuring standardisation of materials

Q4.In stores stocking procedure, 'lead time' is the time taken from ______.

1. submission of the Recoupment Voucher till the stock is received in the depot
2. stock verification till closure of stock sheets
3. placing a purchase order till payment
4. receipt of material till its issue

Q5.The minimum limit (stock order point) for a stock item equals the average weekly issues multiplied by ______.

1. 52 weeks
2. the maximum limit
3. the number of weeks needed for fresh supplies to arrive after ordering
4. the number of weeks since the last verification

Q6.In case of scrap material of rail length below one meter the unit of measurement shall Be

1. Meters
2. Number
3. In weight
4. In weight and numbers

Q7.The T&P whether in a stores department or with a depot should be verified by accounts Stock Verifiers every once in a

1. 12 Months
2. 24 Months
3. 36 Months
4. 18 months

Q8.Corrections of errors in posting and balancing of numerical stores ledgers must be made through the adjustment register on Form ______.

1. G77B
2. RE-9B
3. E.1441
4. S-1539

Q9.While scrutinising stock sheets, adjustment between analogous items differing only in size may be admitted up to ______ of the transactions since the last verification.

1. 0.5%
2. 5%
3. 2%
4. 10%

Q10.Imprest stores held by units such as loco sheds and train examining depots are best described as ______.

1. a standing advance of materials for day-to-day repairs, maintenance and operation
2. stores not issued for 24 months
3. stores bought for a specific work and charged to it
4. scrap awaiting auction

Q11.The check digit of a PL number is obtained from the remainder when the weighted sum of the first seven digits is divided by ______.

1. 7
2. 9
3. 10
4. 11

Q12.In VED analysis, an item whose shortage cannot be tolerated at all is classified as ______.

1. Essential
2. Vital
3. Category A
4. Desirable

Q13.Relaying work is not treated as complete until ______

1. the speed restriction is relaxed
2. all released materials are removed from site and credit is accorded
3. the completion report is signed by DEN
4. the first train has passed

Q14.A survey sheet (SS-11) for items to be condemned is prepared in how many copies?

1. 6
2. 8
3. 11
4. 5

Q15.Released rails classified as Class II(a) are those fit for use in ______

1. scrap sale
2. non-running lines
3. structural members only
4. running lines

Q16.PL number consists of ______ digit

1. 12
2. 10
3. 06
4. 08

Q17.Surplus stock may be due____________

1. Change in structure or plant and equipment
2. Introduction of new standard
3. Introduction of new procedure
4. All of the above

Q18.During the foot-by-foot survey, the percentage loss of weight of materials to be declared scrap is recorded jointly by SSE (P.Way) and ______

1. the contractor
2. the ADEN
3. ISA/Stock Verifier
4. the Depot Store Keeper

Q19.As per para 3301-S, stores held by imprest holders are verified by accounts stock verifiers ______.

1. once in six months
2. once a year
3. once in two years
4. once in three years

Q20.According to the guidelines on stock sheet scrutiny, which is considered more serious?

1. Both equally, irrespective of value
2. Excesses, as they may pave the way for irregular practices
3. Shortages, as they always mean theft
4. Neither, if within 10%

Q21.Test check of vouchers during stock verification, In the case of revenue and other charged of stores, ______ receipts and issue transactions for any ______from the date of last accounts verification should be checked with the postings recorded in the Ledgers.

1. 25%, 6 months
2. 20%, 3 months
3. 20%, 6 months
4. 25%, 3 months

Q22.Where track work is done by a contractor, the list of materials to be released is jointly prepared ______

1. before the work is tendered
2. after award but before dismantling begins
3. after dismantling is complete
4. at the time of the final bill

Q23.Surplus stock items that have not been issued for 24 months and are NOT likely to be used on any Railway within the next two years are termed ______.

1. Emergency stores
2. Dead surplus
3. Movable surplus
4. Special stores

Q24.All P.way materials left over after completion of the work is termed as

1. Revenue stores
2. Material at site stores
3. Surplus stores
4. None of the above

Q25.When stores are returned to a depot, serviceable Class-I materials are valued at ______ while scrap is valued at ______.

1. last purchase rate; auction reserve price
2. book rates; Schedule of Scrap rates
3. market rates; book rates
4. Schedule of Scrap rates; book rates

Q26.The Officer returning stores to stores depots should prepare Advice Notes in Form (S. 1539) in ________

1. Five copies
2. Four copies
3. Six copies
4. Three copies

Q27.On the GeM portal, the consignee must issue the online Provisional Receipt Certificate (PRC) within ______ of receiving goods.

1. 10 days
2. 7 days
3. 48 hours
4. 24 hours

Q28.The last digit of a PL number serves as a ______.

1. unit of accountal
2. check digit to verify the integrity of the code
3. depot code
4. sub-group indicator

Q29.When stores are found short due to fraud or misappropriation, the value recovered includes 7% for freight and incidental charges plus ______ for supervision charges.

1. 10%
2. 7.5%
3. 15%
4. 12.5%

Q30.When stores are found short due to negligence or irregular accounting (not fraud), recovery is made at the higher of book rate or market rate plus ______.

1. no additions
2. 12.5% supervision only
3. 7% freight plus 12.5% supervision
4. 7% towards freight and incidental charges only

Q31.Non-stock items are generally ______.

1. only imported components of rolling stock
2. stocked in depots in large quantities
3. items of regular, constant demand
4. purchased as and when required for a specific demand and sent directly to the consignee

Q32.Under the classification of P.Way materials, Class I material is material that is ______

1. new but of obsolete section
2. released and fit for running lines
3. new and of standard section
4. released and fit for non-running lines

Q33.In a computerised stores depot, Category 'A' items are verified by accounts once in ______, whereas 'D' items (no issues for 12 months or more) are verified once in ______.

1. a year; two years
2. two years; three years
3. three months; six months
4. six months; a year

Q34.In a reverse auction, ______.

1. sellers compete for the buyer's business and prices typically decrease
2. buyers compete and prices rise
3. only one seller is invited
4. the lowest bidder is always disqualified

Q35.In PL. No. The subgroup to be represented by _____

1. First two digits
2. 3rd & 4th digits
3. 5th & 6th digits
4. 2nd & 3rd digits

Q36.In the sequence of P.Way scrap disposal, delivery to the successful bidder is given in the presence of ______.

1. the stock holder, stock verifier and RPF
2. the AEN and DEN
3. the bidder's representative only
4. the Controller of Stores only

Q37.As per paras 1436–1451-E, separate Materials-at-Site accounts are required for Track Relaying/Renewal works costing above ______ and for other works costing above ______.

1. Rs. 10 lakh; Rs. 5 lakh
2. Rs. 3 lakh; Rs. 1 lakh
3. Rs. 1 lakh; Rs. 3 lakh
4. Rs. 5 lakh; Rs. 2 lakh

Q38.At the Zonal Railway headquarters, the office responsible for coordinating stores depots and divisional stores and also for purchases is that of the ______.

1. Controller of Stores
2. Principal Chief Engineer
3. FA & CAO
4. Divisional Railway Manager

Q39.In PL coding, the major group range 60–69 relates to ______.

1. Electrical stores
2. Diesel loco spares
3. S&T stores
4. P.Way stores

Q40.Returned stores, scrap and unserviceable materials classified by the AEN are sent to the Stores Depot under cover of ______.

1. Issue ticket
2. Receipt Note
3. RE-9B transfer voucher
4. DS-8 advice note of returned stores

Q41.Items for which there is a regular demand, regular drawl or consumption and there is a regular recoupment is called

1. Revenue items
2. Stock items
3. Consumables
4. Non stock items

Q42.Items of stores arranged and stocked for works and other special purposes, other than operation or ordinary maintenance and repairs, are called ______.

1. Special stores
2. Ordinary stores
3. Emergency stores
4. Imprest stores

Q43.For accountal of released scrap, fittings and fastenings are accounted ______

1. by number
2. by weight
3. by length
4. by volume

Q44.The target for the Inventory Turnover Ratio of the Stores Department is generally kept around ______.

1. 15%
2. 95%
3. 50%
4. 5%

Q45.In departmental stock verification approximately ____of the stock under each subordinate is verified by actual count each month.

1. One sixth
2. One fourth
3. One third
4. Half

Q46.The maximum stocking limit of an item should not ordinarily exceed ______.

1. half the annual consumption
2. twice the minimum limit
3. three times the minimum limit
4. the minimum limit plus one month's issues

Q47.Stores which are not readily available in the market and are kept in stock to avoid long procurement time, such as components of imported machines and rolling stock, are called ______.

1. Special stores
2. Custody stores
3. Emergency stores
4. Ordinary stores

Q48.All the receipts and all issues of the stores from P.Way office is maintained in

1. Challan book
2. Ledger
3. Daily material transaction register
4. D.S.8 copy

Q49.When material is transferred from one subordinate, works or division to another, the transaction document used is ______.

1. RE-9B (Revenue Exchange Book)
2. SS-11
3. DS-8
4. S-1830

Q50.Field book is submitted to P.Way office once in a

1. Month
2. Week
3. Fortnight
4. Two months

Q51.A discrepant item in a stock sheet valued up to Rs. 1,000 can be closed by ______.

1. the stock holder himself
2. the ISA/Sr. ISA using discretionary powers
3. the Divisional Railway Manager
4. only the FA & CAO

Q52.For scattered renewals, the Materials-at-Site ledger is ______.

1. opened only when the work exceeds Rs. 3 lakh
2. opened once and kept till the ledger is full
3. opened every quarter
4. opened afresh every 1st April and closed on 31st March

Q53.The yardsticks for maximum loss of weight of released materials are approved personally by ______

1. SSE (P.Way)
2. AEN
3. Chief Track Engineer
4. Sr.DEN/DEN

Q54.Which statement about standard and non-standard items is correct?

1. Every standard item is a stock item
2. A stock item may be non-standard
3. A non-standard item is necessarily a non-stock item
4. A non-standard item always has a PL code

Q55.In ABC analysis of stock items, 'A' category items account for roughly what share of the cumulative annual usage value?

1. 50%
2. 20%
3. 10%
4. 70%