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Multiple Choice Questions: General Financial Rules (GFR) 2017
1. Which among the following is/are correct with regard to opening of bids under Two bid system? i. The technical bids are to be opened by the purchasing Ministry or Department at the first instance and evaluated by a competent committee or authority. ii. At the second stage financial bids of only these technically acceptable offers should be opened after intimating them the date and time of opening the financial bid for further evaluation and ranking before awarding the contract.
Only i is correct
Only ii is correct
Both i and ii are correct
None of the above
Correct answer
Both i and ii are correct
2. Which type of bidding is resorted, if it is not feasible to formulate detailed specifications or identify specific characteristics for the subject matter of procurement, without receiving inputs regarding its technical aspects from bidders?
Two bid system
Two-Stage Bidding
Limited Tender Enquiry
Advertised Tender Enquiry
Correct answer
Two-Stage Bidding
3. Simultaneous receipt of separate technical and financial bids is covered under?
Two bid system
Two-Stage Bidding
Limited Tender Enquiry
Advertised Tender Enquiry
Correct answer
Two-Stage Bidding
4. As per Rule 165 of GFR 2017, in the case of advertised tender enquiry or limited tender enquiry, late bids(i.e. bids received after the specified date and time for receipt of bids)?
should be accepted
can be accepted at the discretion of the administrative ministry
can be considered if the amount quoted in the bid is the lowest
should not be considered
Correct answer
should not be considered
5. Procurement from a single source through Single Tender Enquiry may be resorted to in which among the the following circumstances?
only a particular firm is the manufacturer of the required goods
In a case of emergency, the required goods are necessarily to be purchased from a particular source
For standardisation of machinery or spare parts to be compatible to the existing sets of equipment the required item is to be purchased only from a selected firm
All the above
Correct answer
All the above
6. Online real-time purchasing technique utilised by the procuring entity to select the successful bid, which involves presentation by bidders of successively more favourable bids during a scheduled period of time and automatic evaluation of bids is called?
E-Procurement
GeM Procurement
Electronic Reverse Auction
Auto Bidding
Correct answer
Electronic Reverse Auction
7. Maintenance Contract is detailed in which Rule of GFR 2017?
Rule 123
Rule 169
Rule 211
Rule 245
Correct answer
Rule 169
8. Amount of bid security should ordinarily range between _ percent to __ percent of the estimated value of the goods to be procured?
2% to 5%
5% to 10%
1% to 2%
None of these
Correct answer
2% to 5%
9. The bid security is normally to remain valid for a period of ______days beyond the final bid validity period?
15 days
30 days
45 days
60 days
Correct answer
45 days
10. Bid securities of the unsuccessful bidders should be returned to them at the earliest after expiry of the final bid validity and latest on or before the_____ day after the award of the contract?
10th day
15th day
30th day
60th day
Correct answer
30th day
11. Performance Security should be for an amount of _ percent of the value of the contract as specified in the bid documents?
2% to 5%
5% to 10%
10% to 25%
3% to 5%
Correct answer
5% to 10%
12. Performance Security should remain valid for a period of __ days beyond the date of completion of all contractual obligations of the supplier including warranty obligations?
15 days
30 days
45 days
60 days
Correct answer
60 days
13. In case of advance payment to suppliers, it should not exceed _ per cent of the contract value in case of private firms?
30%
50%
60%
20%
Correct answer
30%
14. In case of advance payment to suppliers, it should not exceed _ per cent of the contract value to a State or Central Government agency or a Public Sector Undertaking?
30%
50%
60%
40%
Correct answer
40%
15. In case of advance payment to suppliers, in case of maintenance contract, the amount should not exceed the amount payable for ____ months under the contract?
two months
three months
six months
12 months
Correct answer
six months
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Kindly check answer of simultaneous receipt of separate technical and financial bid i.e two bid system