Financial Management and Powers of Principal Accounting Officers Regulations, 2021
200 questions · Judiciary
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Question 1 of 200
Which of the following best describes the rationale for the CFAO reporting exclusively to the Secretary/PAO (Regulation 31(e)), while the chief internal auditor maintains functional independence reporting to the audit committee (Regulation 33(2)(d))?
ExplanationThe differentiated reporting structures for CFAO (line-embedded) versus chief internal auditor (independent assurance) reflect standard public financial management principles separating operational management from independent oversight.
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Question 2 of 200
Which of the following best summarizes the reporting relationship distinguishing the CFAO from the chief internal auditor under these regulations?
ExplanationThis dual-track reporting distinction (CFAO embedded under the PAO; chief internal auditor functionally independent via the audit committee) is a key structural feature distinguishing financial management from internal audit assurance.
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Question 3 of 200
Which of the following best summarizes why Regulation 32(2)(e)'s exclusion of FBR from the CFAO's non-tax revenue monitoring role makes administrative sense?
ExplanationThis exclusion sensibly avoids duplicating oversight of FBR's tax revenue collection (which falls under separate legal/administrative frameworks) within the CFAO's non-tax revenue-focused mandate under these regulations.
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Question 4 of 200
According to Regulation 2(1)(a), what does the term 'Act' refer to within these regulations?
ExplanationRegulation 2(1)(a) defines 'Act' as the Public Finance Management Act, 2019, the parent legislation under which these regulations were framed.
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Question 5 of 200
Which of the following best summarizes the overall structural relationship established by these regulations between the PAO, the CFAO, and the chief internal auditor?
ExplanationThis synthesis reflects the regulations' overall architecture: PAO accountability, CFAO support, and chief internal auditor independent assurance, together forming Pakistan's post-2019 federal financial management and control framework.
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Question 6 of 200
Under Regulation 32(8)(c), the CFAO furnishes monthly statements of expenditure/receipts and reconciled statements to whom?
ExplanationRegulation 32(8)(c) directs monthly reporting to both the PAO and Finance Division, with quarterly reporting on excess/saving trends.
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Question 7 of 200
Under Regulation 31(e), a chief finance and accounts officer shall report to and work under the supervision of whom, exclusively?
ExplanationRegulation 31(e) is emphatic: the CFAO 'shall not be placed or required to work under the supervision of any officer other than the Secretary.'
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Question 8 of 200
Under Regulation 32(7), in respect of cash management, the CFAO assists the PAO in implementing which specific set of rules regarding a 'Treasury Single Account'?
ExplanationRegulation 32(7)(a) explicitly names the Cash Management and Treasury Single Account (TSA) Rules, 2020 as the framework the CFAO helps implement.
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Question 9 of 200
Under Regulation 24(1)(d), the SOE monitoring unit is also tasked with analyzing what kind of risks?
ExplanationRegulation 24(1)(d) specifically flags sector-wide risks that could affect the state's SOE investments as a reporting area.
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Question 10 of 200
Which of the following best describes what accompanies the 34 regulations as an integral part of the FM&PPAO Regulations, 2021?
ExplanationThe FM&PPAO Regulations, 2021 include an attached Schedule detailing specific delegated financial powers, referenced throughout regulations like 26 and 27.
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Question 11 of 200
Which condition in Regulation 1 specifies when the FM&PPAO Regulations, 2021 came into force?
ExplanationRegulation 1(3) states plainly that the regulations 'shall come into force at once.'
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Question 12 of 200
Under Regulation 8(e), an expenditure sanction issued by the Finance Division with Finance Secretary approval requires what from the Establishment Division?
ExplanationRegulation 8(e) similarly removes the requirement for Establishment Division endorsement of Finance Division-approved expenditure sanctions.
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Question 13 of 200
Under Regulation 33(8), the audit committee reviews and approves what specific planning document prepared by the chief internal auditor?
ExplanationRegulation 33(8) confirms the audit committee's approval role over the annual internal audit plan submitted by the chief internal auditor.
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Question 14 of 200
Which of the following best describes why Regulation 7(1)(q)'s restriction on grant-in-aid becoming 'a recurring budget feature' is significant for public financial management discipline?
ExplanationThis provision embodies a core public finance discipline: ensuring recurring-seeming support is not simply rubber-stamped year after year without renewed justification.
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Question 15 of 200
Which of the following best summarizes the core accountability chain established by these regulations, from Parliament down to individual departmental officers?
ExplanationThis comprehensive accountability chain (Parliament → PAO → CFAO/chief internal auditor support → delegated subordinate officers, all under joint/several responsibility) represents the regulations' overall governance architecture.
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Question 16 of 200
Under Regulation 33(9), the audit committee monitors the implementation status of what, arising from internal and external audit processes?
ExplanationRegulation 33(9) assigns the audit committee responsibility for tracking follow-up and implementation of audit recommendations.
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Question 17 of 200
Under Regulation 33(5), the chief internal auditor submits internal audit reports to whom?
ExplanationRegulation 33(5) directs internal audit report submission to both the PAO and the audit committee, ensuring dual-channel oversight.
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Question 18 of 200
Under Regulation 19, who assists the principal accounting officer in the allocation of budget within the issued ceilings?
ExplanationRegulation 19 specifies that chief finance and accounts officers assist the PAO in allocating the budget under various expenditure heads within the ceilings.
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Question 19 of 200
Which of the following best explains why Regulation 11 permits expenditure sanctions that benefit a selected person/community if made 'in pursuance of a policy of the government'?
ExplanationThis exception preserves legitimate targeted government policy interventions (e.g., approved subsidy schemes) while still prohibiting genuinely arbitrary or self-serving expenditure decisions.
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Question 20 of 200
Which of the following best describes how Regulation 14(a)'s reference to 'schedule of authorized expenditure, supplementary grant, or re-appropriation' relates to section 23 of the Public Finance Management Act, 2019?
ExplanationThis illustrates the regulations' role in implementing and giving practical effect to the PFM Act, 2019's foundational expenditure-control provisions.
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Question 21 of 200
Under Regulation 5, who has the authority to designate any officer as principal accounting officer?
ExplanationRegulation 5 vests this designation authority in the Prime Minister, based on joint recommendation from the administrative Secretary of the Division concerned and the Finance Division.
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Question 22 of 200
Under Regulation 30, the office of chief finance and accounts officer (CFAO) shall be headed by what level of officer?
ExplanationRegulation 30 establishes the CFAO as a senior-level position supporting the PAO's financial management, potentially across more than one Division.
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Question 23 of 200
Under Regulation 32(14), in respect of coordination with the Public Accounts Committee (PAC) or Departmental Accounts Committee (DAC), the CFAO is responsible for coordinating matters relating to what, on behalf of the PAO?
ExplanationRegulation 32(14)(a) centers the CFAO's PAC/DAC coordination role on audit observations, appropriation accounts, and audit report compliance.
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Question 24 of 200
Under Regulation 19, what type of budget ceilings does the Finance Division issue to the principal accounting officer, within the fiscal framework approved by the Cabinet?
ExplanationRegulation 19 describes the issuance of single-line medium-term budget ceilings (IBCs) to PAOs, within which they allocate funds across expenditure heads per policy priorities.
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Question 25 of 200
Which regulation number is the final, concluding regulation of the FM&PPAO Regulations, 2021?
ExplanationRegulation 34, titled 'Repeal', is the last of the 34 regulations comprising this framework.
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Question 26 of 200
Under Regulation 20, the Finance Division ensures budget estimates are appropriately reflected in the annual budget statement, consistent with which Articles of the Constitution?
ExplanationRegulation 20 ties the annual budget statement's constitutional basis to Articles 80 and 81, which govern the Annual Budget Statement laid before the National Assembly.
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Question 27 of 200
Under Regulation 32(1)(a), in respect of budgeting, what is the CFAO's role regarding the entire budgeting activity in the Division and its departments/sub-ordinate offices?
ExplanationRegulation 32(1)(a) makes the CFAO the coordinator of the Division's entire budgeting activity, from planning through execution.
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Question 28 of 200
Which of the following best explains the significance of Regulation 7(1)(r)'s directive that public entities' own resources (not the government exchequer) should fund their employees' salaries and pensions where contingent liabilities exist?
ExplanationThis reflects a broader public financial management concern (addressed more fully in Regulation 24 for SOEs) about the fiscal risk of contingent liabilities and the importance of maintaining fiscal discipline at the entity level.
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Question 29 of 200
Under Regulation 13, does delegation of financial powers to subordinate officers diminish the PAO's own responsibility for oversight?
ExplanationRegulation 13 explicitly preserves the PAO's overarching responsibility and accountability for oversight, even after delegating specific powers downward.
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Question 30 of 200
Under Regulation 14(b), by which date each year may a PAO approve re-appropriation of funds from one expenditure item to another within the same budget grant?
ExplanationRegulation 14(b) sets 31 May as the standard deadline for PAO-approved re-appropriation within the same grant, per section 11 of the Act, though Finance Division may extend this in exigency.
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Question 31 of 200
Under Regulation 7(1)(l), the PAO's power to sanction expenditure as per delegated financial powers is subject to what key limitation?
ExplanationRegulation 7(1)(l) explicitly states that expenditure sanctioned by the PAO shall not exceed the allocated budget, and requires prior confirmation of budget availability.
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Question 32 of 200
Under Regulation 33(6), what body is established within each Ministry or Division to oversee the internal audit function?
ExplanationRegulation 33(6) establishes the audit committee as the oversight body for the internal audit function within each Ministry/Division.
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Question 33 of 200
Under Regulation 27, who approves the appointment of contingent paid staff within budgetary provisions?
ExplanationRegulation 27 mirrors Regulation 26's structure, assigning contingent paid staff appointment approval to the Finance Division within budgetary provisions.
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Question 34 of 200
Which of the following categories of financial power would typically be addressed within the Schedule to the FM&PPAO Regulations, 2021, consistent with Regulations 26 and 27?
ExplanationRegulations 26 and 27 explicitly tie creation-of-posts and contingent-paid-staff approval to the Finance Division 'as provided in the Schedule', confirming these are Schedule-covered categories.
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Question 35 of 200
Which of the following best captures why Regulation 31(d)'s three-year 'cooling-off' bar (preventing a former CFAO from becoming external auditor of the same Ministry/Division) is significant?
ExplanationThis cooling-off period reflects standard auditor-independence safeguards found in public and private sector audit governance, preventing conflicts of interest from recent insider knowledge/relationships.
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Question 36 of 200
Under Regulation 7(1)(k), budget execution responsibilities of the PAO include realization of what, with reference to objective-based budgeting?
ExplanationRegulation 7(1)(k) ties budget execution to realizing economic forecasts/projections and achieving performance-agreement goals and targets under objective-based budgeting.
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Question 37 of 200
Under Regulation 7(5), heads of autonomous bodies who receive government funds but have NOT been designated as PAO shall exercise what powers?
ExplanationRegulation 7(5) equates such heads' powers to those of a head of department under these regulations, layered atop any powers from their own governing enactment.
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Question 38 of 200
Under Regulation 33(2)(b), how is the chief internal auditor appointed, in terms of procedural authority?
ExplanationRegulation 33(2)(b) requires Auditor-General appointment, made jointly in consultation with Establishment Division and the relevant Ministry/Division.
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Question 39 of 200
Under Regulation 31(g), on whose payroll is the post of chief finance and accounts officer maintained?
ExplanationRegulation 31(g) places the CFAO's pay and allowances on the payroll of, and charged to, the Ministry/Division where he is posted.
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Question 40 of 200
Under Regulation 28, besides the DDWP, which other development-related working party/committee is explicitly named for Finance Division representation?
ExplanationRegulation 28 also names the CDWP and the Executive Committee of the National Economic Council (ECNEC), alongside the DDWP and PAC/departmental audit committee.
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Question 41 of 200
Under Regulation 33, which two officers/positions are explicitly restricted from holding 'additional charge' of one another's post, reflecting a clear separation-of-functions principle?
ExplanationBoth Regulation 31(d) and Regulation 33(2)(e) mutually bar the CFAO and chief internal auditor from holding additional charge of each other's post, ensuring functional segregation between financial management and internal audit.
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Question 42 of 200
Under Regulation 33(2)(c), by how much may the standard three-year chief internal auditor tenure be extended?
ExplanationRegulation 33(2)(c) allows tenure extension of up to two years contingent on satisfactory performance, mirroring similar extension logic used for the CFAO's tenure.
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Question 43 of 200
Under Regulation 7(1)(q), grant-in-aid approval requires what, in accordance with section 6 of the Act?
ExplanationRegulation 7(1)(q) explicitly prevents grant-in-aid from becoming a routine, unreviewed recurring feature, requiring detailed justification each time under PFM Act section 6.
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Question 44 of 200
Which of the following best captures the overall objective the Cabinet intended to achieve through the FM&PPAO Regulations, 2021, following the PFM Act, 2019's enactment?
ExplanationThe regulations collectively establish a coherent framework distributing financial management responsibility among the PAO, CFAO, and chief internal auditor, replacing the earlier System of Financial Control and Budgeting, 2000.
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Question 45 of 200
Which of the following best explains the significance of Regulation 33(6)-(9)'s establishment of an 'audit committee' as distinct from the chief internal auditor position itself?
ExplanationThis governance structure (chief internal auditor executing audits; audit committee providing collective oversight/approval) reflects standard institutional audit governance practice, ensuring both operational execution and appropriate senior-level oversight.
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Question 46 of 200
Which of the following best describes the significance of Regulation 5's requirement that PAO designation be made by the Prime Minister on joint recommendation of the administrative Secretary and Finance Division, rather than by either body alone?
ExplanationThis joint-recommendation, Prime-Ministerial-approval structure balances sectoral expertise with central fiscal coordination, appropriate given the PAO's ultimate accountability to Parliament under Regulation 6.
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Question 47 of 200
Under Regulation 32(3), in respect of economic forecasting, what does the CFAO assist the PAO in doing?
ExplanationRegulation 32(3) frames economic forecasting assistance around examining budget requirements/revenue estimations and analyzing financial strengths/weaknesses.
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Question 48 of 200
Under Regulation 33(3), the internal audit function's overall scope is described as determining whether the Ministry/Division's system of internal control is adequate to ensure what, among other things?
ExplanationRegulation 33(3) frames internal audit's overarching purpose around reliability of information, compliance, and safeguarding of assets/resources.
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Question 49 of 200
Which of the following best summarizes the overall significance of the FM&PPAO Regulations, 2021 replacing the System of Financial Control and Budgeting, 2000, more than two decades after that earlier framework was first introduced?
ExplanationThis transition reflects the broader trajectory of Pakistan's public financial management reform, moving from the 2000-era framework to a system explicitly grounded in and implementing the PFM Act, 2019's principles.
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Question 50 of 200
Under the proviso to Regulation 4(2), what happens if the head of an organization holds a constitutional position?
ExplanationThe proviso to Regulation 4(2) allows a senior officer other than the constitutional-position holder to be designated PAO instead.
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Question 51 of 200
Under Regulation 7(1)(h), the PAO must ensure availability of budgetary allocations, especially under which head of expenditure, to secure timely payment?
ExplanationRegulation 7(1)(h) specifically flags employee-related expenditure as requiring assured budgetary availability for timely salary/emolument payment.
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Question 52 of 200
Under Regulation 33(2)(e), during his tenure, the chief internal auditor shall NOT be given additional charge of which post?
ExplanationRegulation 33(2)(e) mirrors the CFAO's own restriction (Regulation 31(d)), barring the chief internal auditor from holding additional charge of CFAO or other administrative posts.
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Question 53 of 200
Under Regulation 31(f), a CFAO may be transferred before completion of the prescribed period on whose written advice, addressed to the Auditor-General of Pakistan?
ExplanationRegulation 31(f) permits early transfer of a CFAO if he fails to satisfy the PAO or Finance Division, via written advice to the Auditor-General.
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Question 54 of 200
Under Regulation 15, the Finance Division's responsibilities derive from the Constitution and which specific Act concerning federal fiscal responsibility, besides the PFM Act?
ExplanationRegulation 15 grounds Finance Division's mandate in the Constitution, the Federal Responsibility and Debt Limitation Act, 2005, the PFM Act, and other applicable rules.
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Question 55 of 200
What is the short title given to these regulations under Regulation 1(1)?
ExplanationRegulation 1(1) formally titles the regulations as stated, matching the commonly used short-form 'FM&PPAO Regulations, 2021'.
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Question 56 of 200
Which of the following organizations, apart from Federal Ministries/Divisions, attached departments and sub-ordinate offices, are also covered under Regulation 1(2)?
ExplanationRegulation 1(2) extends coverage broadly to any Federal Government organisations/entities operating under existing rules, apart from Defence Services.
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Question 57 of 200
Under Regulation 25, if a lump provision is required to be maintained in the budget, whose demand for grants does it become part of?
ExplanationRegulation 25 places lump-sum provisions under Finance Division's controlled demand for grants, with further allocation made after completing financial/codal formalities.
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Question 58 of 200
Under Regulation 7(1)(r), regarding contingent liabilities of public entities, from where should salaries and pensions of the entities' employees be met?
ExplanationRegulation 7(1)(r) requires that public entities' own resources fund their employees' salaries/pensions, preventing unnecessary transfer of this burden to the government exchequer.
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Question 59 of 200
Which of the following best describes why these regulations distinguish between a PAO's 'delegated' financial authority (Regulation 7(1)(e)) and matters requiring Finance Division or other approval?
ExplanationThis delegated-versus-central-approval structure reflects a standard PFM risk-management approach, balancing administrative efficiency with appropriate central oversight for significant financial decisions.
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Question 60 of 200
Under Regulation 14(b), in exceptional cases of exigency, which body may extend the prescribed 31 May time limit for re-appropriation before the close of the financial year?
ExplanationRegulation 14(b)'s proviso empowers the Finance Division alone to extend the re-appropriation deadline in exceptional exigency.
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Question 61 of 200
Under Regulation 31(d), after transferring from a Division where he served as CFAO, for how long is he barred from serving as external auditor for that same Ministry/Division?
ExplanationRegulation 31(d) imposes a three-year 'cooling-off' bar on a former CFAO taking on the external auditor role for the same Ministry/Division.
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Question 62 of 200
Under Regulation 31(k), who decides matters relating to the posting of subordinate officers/officials as deputy or assistant CFAOs?
ExplanationRegulation 31(k) vests this decision with the concerned Secretary/PAO, taking into account the Division's functions, workload, and responsibilities.
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Question 63 of 200
Under Regulation 32(13), in respect of risk management, the CFAO assists the PAO and chief internal auditor in undertaking what exercise annually?
ExplanationRegulation 32(13)(a) requires an annual risk assessment exercise with a maintained risk register, plus initiating risk response measures with PAO approval.
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Question 64 of 200
Under Regulation 7(1)(e), for what type of matters must the PAO seek prior approval from the Finance Division or other relevant authority?
ExplanationRegulation 7(1)(e) requires prior approval specifically for matters falling outside the PAO's delegated financial authority.
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Question 65 of 200
Under Regulation 13, who is responsible for delegating appropriate financial powers to sub-ordinate officers and officials?
ExplanationRegulation 13 requires the PAO and head of department/office to delegate appropriate financial powers downward to subordinate officers/officials.
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Question 66 of 200
Under Regulation 31(i), who initiates or writes the CFAO's performance evaluation report?
ExplanationRegulation 31(i) assigns performance evaluation report initiation to the Division Secretary, with countersigning decided in consultation with Establishment Division.
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Question 67 of 200
Under Regulation 17, which of the following is an example of a policy guideline area the Finance Division may issue instructions on?
ExplanationRegulation 17 provides a list of example areas (funds-release strategy, austerity, commitment control, internal control, internal audit charter, delegation principles, assignment/revolving fund account procedures) where Finance Division may issue guidelines.
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Question 68 of 200
Under Regulation 33(2)(b), which two entities must the Auditor-General consult before appointing a chief internal auditor?
ExplanationRegulation 33(2)(b) requires the Auditor-General to consult both Establishment Division and the relevant Ministry/Division before finalizing a chief internal auditor appointment.
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Question 69 of 200
Under Regulation 33(3)(d), the internal audit function evaluates the economy and efficiency of what?
ExplanationRegulation 33(3)(d) directs internal audit to assess resource-use economy and efficiency as part of its core function.
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Question 70 of 200
Under Regulation 6, before which body is a principal accounting officer accountable for the use of resources and propriety of expenditure?
ExplanationRegulation 6 establishes that a PAO's accountability runs to Parliament and its relevant committees for regularity and propriety of expenditure.
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Question 71 of 200
Under Regulation 8(a), under the Rules of Business 1973, which Division has been allocated business relating to finances of the Federal Government as a whole?
ExplanationRegulation 8(a) confirms Finance Division's allocated business over Federal Government finances and sanctions requiring its concurrence, under the Rules of Business 1973.
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Question 72 of 200
Under Regulation 7(1)(a), the PAO must adhere to and enforce principles of financial propriety, which includes ensuring what, while incurring expenditure and collecting receipts?
ExplanationRegulation 7(1)(a) requires compliance with laws/rules/regulations, prudence, vigilance, due diligence, and value for money in both expenditure and receipt collection.
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Question 73 of 200
Under Regulation 21, to which body does the Finance Division provide its opinion on proposals for supplementary grant or technical supplementary grant?
ExplanationRegulation 21 channels Finance Division's assessment of supplementary/technical supplementary grant proposals to the ECC or Federal Cabinet, or as advice to PAOs.
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Question 74 of 200
Under Regulation 8(f), who assists the principal accounting officer in matters related to financial management?
ExplanationRegulation 8(f) formally establishes that the chief finance and accounts officer assists the PAO in financial management matters.
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Question 75 of 200
Under Regulation 34, which prior framework is repealed upon notification of the FM&PPAO Regulations, 2021?
ExplanationRegulation 34 repeals the System of Financial Control and Budgeting, 2000 (with its amendments), the predecessor framework these regulations replace.
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Question 76 of 200
Which of the following best explains why Regulation 26 and Regulation 27 (creation of posts; appointment of contingent paid staff) both require Finance Division approval 'within budgetary provisions' rather than granting PAOs unrestricted authority in these areas?
ExplanationBecause staffing decisions create ongoing, multi-year financial obligations, central review (via Finance Division, guided by Schedule limits) helps safeguard long-term fiscal sustainability beyond the immediate budget year.
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Question 77 of 200
According to Regulation 2(1)(b), how is 'attached department' defined within these regulations?
ExplanationRegulation 2(1)(b) cross-references the definition of 'attached department' to the Rules of Business, 1973.
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Question 78 of 200
Under Regulation 7(1)(m), the PAO is responsible for formulating and monitoring which of the following, in accordance with the Act?
ExplanationRegulation 7(1)(m) requires the PAO to formulate and monitor plans, outcomes, outputs, and KPIs/targets consistent with the PFM Act, 2019.
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Question 79 of 200
Under Regulation 4(2), which of the following is NOT listed as a condition for an official to be notified as principal accounting officer?
ExplanationRegulation 4(2) lists three alternative eligibility conditions (head of department/sub-ordinate office; controller of a demand for grant; or controller of a strategic cost centre) — Assembly membership is not among them.
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Question 80 of 200
Under Regulation 31(h), any addition or reduction in the existing sanctioned posts of CFAO is decided by whom?
ExplanationRegulation 31(h) requires the Auditor-General's decision, made jointly with Finance Division and Establishment Division, on any change to CFAO post numbers.
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Question 81 of 200
Under Regulation 26, who approves cases for creation of posts within budgetary provisions?
ExplanationRegulation 26 assigns post-creation approval (within budgetary provisions) to the Finance Division, per instructions issued from time to time and the attached Schedule.
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Question 82 of 200
Which of the following best explains why specific monetary delegation limits are set out in a Schedule rather than within the main body of the regulations?
ExplanationUsing a Schedule for granular delegation limits is a common legislative drafting technique, allowing administrative updates to specific figures without amending the core regulatory text.
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Question 83 of 200
Under Regulation 14(g), the PAO is responsible for implementing Finance Division policy guidelines for what type of control system?
ExplanationRegulation 14(g) requires PAO implementation of Finance Division's commitment control system guidelines, spanning both annual and multi-annual commitments.
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Question 84 of 200
Under Regulation 22, who may extend the date for re-appropriation of funds after the date specified under the Act?
ExplanationRegulation 22 grants the Finance Division authority to extend re-appropriation deadlines beyond those specified under the Act, upon request.
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Question 85 of 200
Under Regulation 14(d), by which date must Ministries/Divisions surrender all anticipated savings in grants, assignment accounts, or grants-in-aid to the Finance Division?
ExplanationRegulation 14(d) sets the same 31 May deadline (as re-appropriation) for surrender of anticipated savings, with a similar exigency-based extension provision.
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Question 86 of 200
Which of the following best describes why these regulations impose specific minimum tenure requirements (e.g., two years for CFAO under Regulation 31(c), three years for chief internal auditor under Regulation 33(2)(c)) rather than leaving posting duration entirely to administrative discretion?
ExplanationMinimum tenure provisions are a recognized good-governance tool for protecting technical/oversight functions like financial management and internal audit from excessive turnover or undue short-term pressure.
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Question 87 of 200
Which of the following best explains the practical importance of Regulation 7(1)(p)'s requirement for monthly reconciliation between the PAO's department and accounting offices, in addition to the quarterly Finance Division reporting?
ExplanationFrequent (monthly) reconciliation is a standard financial control practice that helps ensure the accuracy of the less-frequent (quarterly) reports submitted to the Finance Division, catching and correcting errors before they compound.
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Question 88 of 200
Which of the following best describes the practical effect of Regulation 13's provision that delegation 'shall not diminish' the PAO's responsibility and accountability?
ExplanationThis provision reinforces that delegation is an operational tool for efficiency, not a mechanism for the PAO to escape ultimate accountability under Regulation 6.
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Question 89 of 200
Under Regulation 31(j), which officers responsible for budget, finance and accounts in a Ministry/Division shall work under and report to the CFAO?
ExplanationRegulation 31(j) establishes a direct reporting line from budget/finance/accounts Deputy Secretaries and Section Officers to the CFAO.
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Question 90 of 200
Which of the following best describes why Regulation 28's inclusion of Finance Division representation on bodies like the CDWP and ECNEC is significant for development project approval?
ExplanationEmbedding Finance Division representation directly within development project appraisal bodies (CDWP, ECNEC) ensures fiscal considerations are integrated at the point of project approval, not just afterward during budget execution.
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Question 91 of 200
Under Regulation 7(6), what happened to the Financial Advisor's Organisation of the Finance Division, and what followed?
ExplanationRegulation 7(6) confirms the Financial Advisor's Organisation's disbandment under the PFM Act, 2019, with duties reassigned to Finance Division's Joint/Deputy Secretaries (Expenditure).
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Question 92 of 200
Which regulation is titled 'Issuance of indicative budget ceilings within the fiscal framework approved by the Cabinet'?
ExplanationRegulation 19 bears this precise title, describing the medium-term budget ceiling process.
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Question 93 of 200
Under Regulation 31(d), during his posting, a CFAO shall NOT be given additional charge of which of the following posts?
ExplanationRegulation 31(d) bars the CFAO from holding additional charge of Joint Secretary, Deputy Secretary, chief internal auditor, or any other post while serving as CFAO.
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Question 94 of 200
Under Regulation 7(1)(n), from whom may the PAO seek assistance for applying internal control procedures within the Division?
ExplanationRegulation 7(1)(n) directs the PAO to seek assistance from the chief internal auditor for internal control procedures, per Finance Division guidelines.
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Question 95 of 200
Which of the following best describes how the FM&PPAO Regulations, 2021 as a whole reflect broader international public financial management (PFM) reform principles (e.g., as promoted by institutions like the IMF or World Bank)?
ExplanationElements like the Treasury Single Account (Regulation 32(7)(a)), medium-term budget ceilings (Regulation 19), risk-based internal audit planning (Regulation 33(4)), and SOE monitoring (Regulation 24) all reflect widely recognized international PFM reform principles.
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Question 96 of 200
Which of the following best describes the overall legal status of the Schedule relative to the 34 numbered regulations in the FM&PPAO Regulations, 2021?
ExplanationAs referenced directly within regulations (e.g., 26, 27), the Schedule is legally integral to the regulatory framework, not a separate or optional document.
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Question 97 of 200
Which of the following best describes why Regulation 17's list of policy guideline areas explicitly includes 'internal audit charter' alongside more purely budgetary matters like 'funds-release strategy'?
ExplanationThis inclusion reflects the regulations' holistic approach to public financial management, recognizing that policy coordination should span both direct budget execution and the internal control/audit assurance functions that support it.
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Question 98 of 200
Under Regulation 21, what specific assessment must the Finance Division provide when examining supplementary grant proposals?
ExplanationRegulation 21 specifically requires the Finance Division to assess fiscal impact when examining supplementary/technical supplementary grant proposals.
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Question 99 of 200
According to Regulation 2(2), how are words and expressions used but not defined within these regulations to be interpreted?
ExplanationRegulation 2(2) directs that undefined terms take their meaning from the Public Finance Management Act, 2019.
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Question 100 of 200
Under Regulation 32(8), in respect of maintenance, reconciliation and reporting of accounts, how often must the CFAO supervise reconciliation of accounts with actual figures from AGPR, banks, or other relevant bodies?
ExplanationRegulation 32(8)(b) requires monthly reconciliation supervision with the Accountant General Pakistan Revenue, banks, Finance Division, EAD, or development partners.
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Question 101 of 200
Under Regulation 32(2)(e), the CFAO monitors collection and reconciliation of non-tax revenue receipts by departments/offices under the PAO's jurisdiction, with what notable exception?
ExplanationRegulation 32(2)(e) carves out FBR from the CFAO's non-tax revenue monitoring role, reflecting FBR's distinct, separate revenue administration function.
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Question 102 of 200
Under Regulation 32(7)(a), besides implementing TSA rules, the CFAO also reports on the closure of what type of accounts and transfer of funds into which fund?
ExplanationRegulation 32(7)(a) explicitly links TSA implementation to closing Ministry/Division commercial bank accounts and consolidating funds into the Federal Consolidated Fund.
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Question 103 of 200
Under Regulation 7(1)(g), if a project financed by the Federal Government is executed by a provincial government, where should the budget be kept?
ExplanationRegulation 7(1)(g) specifies that the budget for such projects is kept within the demand of the most relevant Federal Division/department/office.
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Question 104 of 200
Under Regulation 7(4), how is responsibility for financial propriety, performance-based budgeting, and expenditure control distributed among the Secretary/PAO, heads of departments, sub-ordinate offices, and autonomous bodies?
ExplanationRegulation 7(4) establishes joint and several responsibility across these officials for financial propriety and expenditure control.
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Question 105 of 200
Which regulation addresses 'Prior consultation with Finance Division while initiating legislative proposals having financial implications'?
ExplanationRegulation 18 specifically covers this consultation requirement for legislative proposals with financial implications.
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Question 106 of 200
Under which Act's authority were the Financial Management and Powers of Principal Accounting Officers Regulations, 2021 issued?
ExplanationThe regulations were issued by the Finance Division under section 27 of the Public Finance Management Act, 2019 (S.R.O. 285(I)/2021).
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Question 107 of 200
Under Regulation 33(3), besides internal controls and compliance, the internal audit function also reviews the means used for safeguarding what?
ExplanationRegulation 33(3) includes safeguarding of assets among the core areas internal audit is designed to review and verify.
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Question 108 of 200
Under Regulation 7(1)(b), the PAO is responsible for ensuring what quality of use regarding funds, budget, assets and human resources?
ExplanationRegulation 7(1)(b) specifies the '4E' standard: effective, efficient, economical, and transparent use of resources to achieve stated objectives.
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Question 109 of 200
Under Regulation 33(3)(e), the internal audit function reviews whether operations/programs are being carried out as planned and whether what is being achieved?
ExplanationRegulation 33(3)(e) assesses whether operations achieve their intended results/benefits, a performance-oriented internal audit dimension.
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Question 110 of 200
To which of the following do the FM&PPAO Regulations, 2021 NOT apply, per Regulation 1(2)?
ExplanationRegulation 1(2) explicitly excludes Defence Services from the regulations' application, for which the Ministry of Defence is to notify separate financial regulations.
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Question 111 of 200
Which of the following best captures the overall purpose of including both a detailed responsibilities list for the PAO (Regulation 7) and detailed functional lists for the CFAO (Regulation 32) and chief internal auditor (Regulation 33), rather than leaving these roles more generally defined?
ExplanationThis granular, itemized drafting approach supports consistent, predictable implementation of financial management responsibilities across the diverse landscape of Federal Government Ministries, Divisions, and entities.
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Question 112 of 200
Which regulation addresses 'Expenditure from lump provision'?
ExplanationRegulation 25 specifically governs lump-sum budget provisions and their allocation process.
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Question 113 of 200
Which of the following best describes the overall drafting structure of the FM&PPAO Regulations, 2021, in terms of how its 34 regulations are thematically organized?
ExplanationThis logical progression (foundations → PAO duties → delegation → Finance Division's specific functions → CFAO → chief internal auditor → repeal) reflects a coherent, systematically structured regulatory document.
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Question 114 of 200
Under Regulation 7(1)(d), the PAO is described as the 'ultimate planner' with respect to what?
ExplanationRegulation 7(1)(d) casts the PAO as the 'ultimate planner' responsible for formulating plans, programs, and projects within his area of activity.
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Question 115 of 200
Under Regulation 32(17), besides the sixteen specific functional areas listed, what residual duty may be assigned to the CFAO?
ExplanationRegulation 32(17) provides a catch-all residual clause allowing further duties as assigned by Government or the Secretary/PAO, within the constitutional and statutory framework.
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Question 116 of 200
Which of the following best describes why Regulation 7(1)(u)'s requirement that the PAO both attend PAC meetings and hold DAC meetings reflects a two-tiered accountability structure?
ExplanationThis two-tiered structure (departmental DAC resolving matters at the working level, Parliamentary PAC providing ultimate oversight) is a standard feature of public accountability systems, reflected clearly in Regulation 7(1)(u).
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Question 117 of 200
Under Regulation 32(15), in respect of disbursements, payments and pre-audit functions, under which specific Ordinance does the CFAO operate in this capacity?
ExplanationRegulation 32(15) explicitly frames the CFAO's disbursement/payment/pre-audit role under the CGA Ordinance, 2001, distinct from the Auditor-General's separate Ordinance.
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Question 118 of 200
Under Regulation 23, in which circumstance may the Finance Division approve inclusion of an equal amount of surrendered funds in the next year's budget?
ExplanationRegulation 23 specifically addresses surrendered funds tied to foreign-funded development projects/programs, allowing their re-inclusion where appropriate.
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Question 119 of 200
Which regulation is titled 'Examination of the proposals for supplementary grant and technical supplementary grant'?
ExplanationRegulation 21 addresses this specific Finance Division function regarding supplementary and technical supplementary grants.
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Question 120 of 200
Which regulation of the FM&PPAO Regulations, 2021 is titled 'Head of financial management'?
ExplanationRegulation 3 bears the title 'Head of financial management' and establishes the PAO's foundational role.
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Question 121 of 200
Under Regulation 32(9), in respect of asset protection, the CFAO is part of a team or supervises what annual exercise?
ExplanationRegulation 32(9)(b) ties the CFAO's asset protection role to overseeing/supervising an annual assets stock-taking exercise.
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Question 122 of 200
Under Regulation 31(b), can a single chief finance and accounts officer be given responsibility for more than one Ministry or Division?
ExplanationRegulation 31(b) explicitly permits a CFAO to assist more than one Ministry/Division, reflecting the position's flexible allocation.
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Question 123 of 200
Which regulation is titled 'Examination of financial matters of the Ministries or Divisions'?
ExplanationRegulation 16 carries this exact title, addressing the scope of Finance Division consultation.
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Question 124 of 200
Under Regulation 8(d), an expenditure sanction order issued to the Accountant General or accounting office with PAO approval requires what further step from the Finance Division?
ExplanationRegulation 8(d) explicitly removes the need for Finance Division endorsement once a PAO or competent officer has approved the expenditure sanction order.
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Question 125 of 200
Under Regulation 16, on which matters shall the Finance Division be consulted, per the Rules of Business, 1973?
ExplanationRegulation 16 lists a broad but specific set of financial-matter categories requiring Finance Division consultation, 'including but not limited to' the items named.
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Question 126 of 200
Under Regulation 10 ('Prudence'), what standard of vigilance must a government servant exercise regarding public fund expenditure?
ExplanationRegulation 10 articulates the classic 'ordinary prudence' standard: expenditure should not, prima facie, exceed what the occasion demands, judged as one would judge personal spending.
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Question 127 of 200
Which of the following best explains why Regulation 32(14)'s CFAO coordination role with PAC/DAC is described as being performed 'on behalf of the PAO' rather than independently?
ExplanationThis 'on behalf of' framing is consistent with the regulations' broader design: the CFAO supports and assists, while the PAO retains ultimate personal accountability before Parliament.
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Question 128 of 200
Under Regulation 32(16), in respect of representation of the Division on committees, the CFAO represents the Division at various committees including PAC, DAC, and which development-related working party?
ExplanationRegulation 32(16)(a) explicitly names the DDWP among the committees where the CFAO represents the Division, under PAO guidance.
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Question 129 of 200
Under Regulation 24(2), based on its analysis, what does the SOE monitoring unit submit to the Finance Division?
ExplanationRegulation 24(2) requires the monitoring unit to translate its financial, commercial, and operational analysis into governance and performance recommendations.
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Question 130 of 200
Which of the following best distinguishes the internal audit function (Regulation 33) from the external audit function performed by the Auditor-General of Pakistan under separate legislation?
ExplanationThis distinction between internal audit's management-support role (per Regulation 33) and the Auditor-General's separate constitutional external audit mandate is fundamental to understanding Pakistan's layered public financial oversight architecture.
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Question 131 of 200
Which regulation is titled 'Re-appropriation of funds' with respect to the Finance Division's own extension authority (distinct from Regulation 14(b)'s PAO-level provision)?
ExplanationRegulation 22 specifically addresses the Finance Division's authority to extend re-appropriation deadlines beyond those set under the Act.
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Question 132 of 200
Under Regulation 33(2)(c), what is the standard tenure for a chief internal auditor's posting, before any extension?
ExplanationRegulation 33(2)(c) sets a standard three-year tenure for chief internal auditor postings.
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Question 133 of 200
On what date were the FM&PPAO Regulations, 2021 notified in the Gazette of Pakistan?
ExplanationThe regulations were notified via S.R.O. 285(I)/2021 dated 8 March 2021.
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Question 134 of 200
Under Regulation 31(c), by whom is the posting of an officer as CFAO for a Ministry or Division notified?
ExplanationRegulation 31(c) requires Establishment Division notification of CFAO postings, done in consultation with the Auditor-General of Pakistan.
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Question 135 of 200
Under Regulation 32(4), in respect of financing or loans, the CFAO assesses financial needs and plans for obtaining what types of loans and grants?
ExplanationRegulation 32(4)(a) covers both domestic and foreign loan/grant planning as part of the CFAO's financing-related functions.
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Question 136 of 200
Under Regulation 33(2)(f), a chief internal auditor may be transferred before completing his tenure based on whose recommendation to the Auditor-General?
ExplanationRegulation 33(2)(f) permits early transfer recommendations from either the PAO or the audit committee, addressed to the Auditor-General.
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Question 137 of 200
Under Regulation 14(a), referencing section 23 of the Act, no authority shall incur or commit expenditure from the Federal Consolidated Fund until what condition is met?
ExplanationRegulation 14(a) reiterates the fundamental PFM Act section 23 requirement: sanctioned authority plus a proper budgetary provision mechanism (SAE, supplementary grant under Article 84, or re-appropriation under section 11) before expenditure.
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Question 138 of 200
Under Regulation 31(c), what is the initial minimum posting period for a chief finance and accounts officer, and by how much can it be extended?
ExplanationRegulation 31(c) sets a minimum two-year initial tenure for the CFAO, extendable by a further two-year period.
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Question 139 of 200
Under Regulation 24(1), the Finance Division's monitoring unit for state-owned enterprises (SOEs) is tasked with maintaining what kind of database?
ExplanationRegulation 24(1) establishes an electronic database and analytical/reporting function within Finance Division specifically for SOE performance monitoring.
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Question 140 of 200
Under Regulation 33(7), who typically chairs the audit committee within a Ministry or Division?
ExplanationRegulation 33(7) places the PAO (or his nominee) in the chair of the audit committee, reflecting the PAO's overall accountability.
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Question 141 of 200
Under Regulation 5, how is the designation of a principal accounting officer formally completed?
ExplanationRegulation 5 requires Gazette notification by the Finance Division, following the Prime Minister's prior approval.
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Question 142 of 200
Under Regulation 7(1)(i), the PAO is responsible for proper inclusion and accounting of which category of transactions, in line with Finance Division instructions?
ExplanationRegulation 7(1)(i) covers the full range of foreign exchange-related transactions relevant to the PAO's Ministry/Division/department.
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Question 143 of 200
Under Regulation 33(3)(b), the internal audit function reviews compliance with which of the following?
ExplanationRegulation 33(3)(b) ties internal audit's compliance review to the formal legal and policy framework governing the Ministry/Division.
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Question 144 of 200
Which of the following best describes the relationship between Regulation 24 (Finance Division's role regarding SOEs) and the broader accountability framework established by Regulation 6?
ExplanationThe SOE monitoring unit's systematic performance/risk reporting (Regulation 24) feeds into the broader fiscal accountability and oversight architecture these regulations establish.
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Question 145 of 200
Which of the following best explains the significance of Regulation 7(4)'s 'jointly and severally' responsibility standard for financial propriety and expenditure control?
ExplanationThe 'jointly and severally' standard in Regulation 7(4) is a meaningful legal formulation ensuring comprehensive, non-evadable accountability across the layered administrative hierarchy.
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Question 146 of 200
Under Regulation 7(1)(t), how frequently must the PAO provide statements of revenues and expenditures of public entities (other than those in sub-regulation (p)) to the Finance Division?
ExplanationRegulation 7(1)(t) requires half-yearly reporting for public entities under the PAO's control (distinct from the quarterly reconciliation under sub-regulation (p)).
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Question 147 of 200
Under Regulation 14(f), the principal accounting officer's authority to procure goods and services must be exercised as per legal and regulatory provisions prescribed under which body's framework?
ExplanationRegulation 14(f) ties the PAO's procurement authority explicitly to the PPRA Ordinance, 2002 and rules made thereunder.
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Question 148 of 200
Which of the following best describes how the FM&PPAO Regulations, 2021 treat the relationship between budget ceilings (Regulation 19) and budgetary proposals prepared by a PAO (Regulation 7(1)(f))?
ExplanationThis connects Regulation 7(1)(f)'s requirement (proposals within IBCs) to Regulation 19's process (Finance Division issuing IBCs within the Cabinet-approved fiscal framework), illustrating the regulations' internal coherence.
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Question 149 of 200
Which of the following three officer positions, taken together, form the core financial management and oversight architecture established by the FM&PPAO Regulations, 2021 within each Ministry/Division?
ExplanationThese three roles (PAO, CFAO, chief internal auditor), addressed respectively in the main body, Regulations 30-32, and Regulation 33, form the regulations' central institutional architecture.
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Question 150 of 200
Under Regulation 33(4), the chief internal auditor is required to prepare and get approved from the audit committee what annual planning document?
ExplanationRegulation 33(4) requires audit-committee-approved preparation of the annual internal audit plan, based on a risk-based methodology.
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Question 151 of 200
Under Regulation 9, what must the PAO ensure regarding the use of public funds for delivery of public services?
ExplanationRegulation 9, titled 'Delivery of public services', requires a system ensuring service delivery consistent with value-for-money and waste reduction principles.
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Question 152 of 200
Which of the following best captures the overarching theme connecting virtually all 34 regulations and the attached Schedule of the FM&PPAO Regulations, 2021?
ExplanationThis overarching theme, spanning definitions, PAO responsibilities, delegation principles, Finance Division functions, the CFAO, and the chief internal auditor, unifies the entire regulatory document around effective, accountable federal public financial management.
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Question 153 of 200
Under Regulation 14(c), what happens to a request for supplementary budget for an expenditure head from which funds have already been re-appropriated during the year?
ExplanationRegulation 14(c) closes a potential loophole by barring supplementary budget requests for heads already subject to re-appropriation that year.
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Question 154 of 200
Under Regulation 28, an official of the Finance Division is to be part of various committees. Which of the following is explicitly named among them?
ExplanationRegulation 28 names PAC, departmental audit committee, DDWP, CDWP, and ECNEC as committees where Finance Division representation is required.
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Question 155 of 200
Which of the following best captures the overall significance of studying the FM&PPAO Regulations, 2021 for understanding Pakistan's contemporary public financial management system?
ExplanationThis synthesis captures the regulations' central role as the operational bridge between the PFM Act, 2019's broad statutory principles and their day-to-day administrative implementation across Federal Government entities.
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Question 156 of 200
Under Regulation 33(3)(a), the internal audit function's scope, per generally accepted auditing standards, includes evaluating what regarding internal controls?
ExplanationRegulation 33(3)(a) frames this as a core internal audit function: assessing internal controls' adequacy and effectiveness.
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Question 157 of 200
Which of the following best explains the practical relationship between Regulation 19's 'single-line medium-term budget ceilings' and Regulation 14(b)'s re-appropriation provisions?
ExplanationThis connection illustrates the regulations' internal logic: single-line ceilings (Regulation 19) necessarily create a need for within-ceiling reallocation flexibility, which Regulation 14(b) then structures and constrains.
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Question 158 of 200
Under Regulation 31(b), in case of non-availability of BPS-20 officers for the CFAO post, which alternative may be considered?
ExplanationRegulation 31(b) allows BPS-19 PAAS officers as a fallback when BPS-20 officers are unavailable for CFAO postings.
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Question 159 of 200
Which of the following best describes the overall relationship between the FM&PPAO Regulations, 2021 and the Public Finance Management Act, 2019?
ExplanationAs reflected in the Cabinet's stated rationale, the regulations were framed specifically to implement the PFM Act, 2019's provisions following the disbandment of the Financial Advisor's Organisation.
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Question 160 of 200
Under Regulation 32(2), in respect of revenue estimation, the CFAO assists the PAO in the policy and administration of laws governing what type of revenue receipts?
ExplanationRegulation 32(2)(a) focuses the CFAO's revenue-estimation role specifically on non-tax revenue receipts (FBR-collected tax revenue being excluded per 32(2)(e)).
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Question 161 of 200
Which of the following best explains why Regulation 14(g)'s reference to Planning Commission guidelines for development projects complements, rather than conflicts with, the Finance Division's overall budgetary authority under these regulations?
ExplanationThis reflects the standard institutional division of labor in Pakistan's development budgeting: Planning Commission for project appraisal/technical soundness, Finance Division for overall fiscal/budgetary control — both must be satisfied.
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Question 162 of 200
Under Regulation 33(2)(a), from which grade of officers is the chief internal auditor generally appointed?
ExplanationRegulation 33(2)(a) specifies BPS-20 PAAS officers (or equivalent) as the standard appointment pool for chief internal auditor.
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Question 163 of 200
Under Regulation 7(1)(c), the PAO is responsible for assisting whom in financial matters related to specific bodies, policies, rules, and procedures?
ExplanationRegulation 7(1)(c) frames the PAO's role as assisting the chief finance and accounts officer in relevant financial matters — note this reflects the collaborative, mutually-supportive relationship built into the regulations.
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Question 164 of 200
Under Regulation 14(c), from which expenditure heads must the PAO exercise particular due diligence when re-appropriating budget, to avoid creating future liabilities?
ExplanationRegulation 14(c) specifically flags pay/allowances, pensions, utilities, and rents as sensitive heads where re-appropriation requires care to prevent shortfalls or deferred liabilities.
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Question 165 of 200
Under Regulation 32(5), in respect of investment, the CFAO is tasked with proactively identifying what, where applicable?
ExplanationRegulation 32(5) requires the CFAO to identify investment opportunities and propose them per government rules, after examining risks.
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Question 166 of 200
Under Regulation 7(1)(u), which two types of meetings is the PAO responsible for attending and holding on a regular basis?
ExplanationRegulation 7(1)(u) specifically requires the PAO to attend PAC meetings and hold DAC meetings regularly.
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Question 167 of 200
Which of the following best describes how Regulation 30's description of the CFAO 'assisting and supporting' the PAO relates to Regulation 3's characterization of the PAO as 'custodian and operator' of financial resources?
ExplanationThis relationship (PAO as principal, CFAO as supporting officer) is consistent throughout the regulations, with Regulation 30's language deliberately reinforcing rather than displacing the PAO's foundational role from Regulation 3.
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Question 168 of 200
Under Regulation 7(3), officers exercising financial powers delegated by the Secretary (e.g., heads of department) must submit reports to whom, and how often?
ExplanationRegulation 7(3) requires quarterly and annual reporting (distinct from the monthly/quarterly/annual reporting of non-Secretary PAOs under sub-regulation (2)).
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Question 169 of 200
Under Regulation 32(12), in respect of internal controls, the CFAO extends assistance to the chief internal auditor for reviewing internal control in which specific areas?
ExplanationRegulation 32(12)(a) specifies budget, revenue, expenditure, and finance as the areas of internal control review the CFAO assists with.
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Question 170 of 200
Under Regulation 18, prior consultation with the Finance Division is required when initiating legislative proposals having financial implications relating to what matters?
ExplanationRegulation 18 requires prior Finance Division consultation for legislative proposals touching funds, revenue, cess, levy, fee, deductions, remissions, or agreements.
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Question 171 of 200
Under Regulation 7(1)(f), budgetary proposals prepared by the PAO must be prepared within what constraint?
ExplanationRegulation 7(1)(f) requires budgetary proposals to stay within the indicative budget ceilings (IBCs) agreed with the Finance Division, based on well-defined plans.
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Question 172 of 200
Under Regulation 12 ('Allowances not to be a source of profit'), what principle governs allowances like travelling allowance?
ExplanationRegulation 12 embodies the classic public finance principle that allowances should reimburse actual expenditure, not generate profit for the recipient.
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Question 173 of 200
Which of the following best describes why Regulation 6's accountability provision specifically names 'Parliament' and its 'relevant Committees' rather than simply the executive government?
ExplanationThis provision reflects the constitutional logic underpinning public financial accountability: since Parliament authorizes expenditure through the budget, it is Parliament (via PAC and other committees) to which the PAO must ultimately answer for how those funds were used.
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Question 174 of 200
Under Regulation 24(1)(a)-(d), which of the following is NOT explicitly listed as a reporting area for the SOE monitoring unit?
ExplanationRegulation 24(1) lists four specific areas: overall performance, performance against objectives/targets, investment/loans/guarantees, and risks to the state's SOE investment — individual board member salaries are not a listed category.
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Question 175 of 200
Under Regulation 7(2), an officer designated as PAO (other than the Secretary of a Division) must submit reports about exercise of financial powers to whom?
ExplanationRegulation 7(2) requires non-Secretary PAOs to report monthly, quarterly, and annually to the administrative Secretary via the chief finance and accounts officer.
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Question 176 of 200
Under Regulation 34, besides the System of Financial Control and Budgeting, 2000, what else is repealed 'to the extent of any repugnancy'?
ExplanationRegulation 34 also voids any other inconsistent regulations, instructions, or practices, ensuring the new framework takes clear precedence.
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Question 177 of 200
Which regulation addresses 'Inclusion of budget estimates in annual budget statement'?
ExplanationRegulation 20 covers this function, tying it to Articles 80 and 81 of the Constitution.
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Question 178 of 200
Which of the following best describes the general purpose of the Schedule attached to the FM&PPAO Regulations, 2021?
ExplanationThe Schedule operationalizes the delegation principles set out in regulations like 13 and 26-27, giving concrete monetary/administrative limits for specific categories of powers.
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Question 179 of 200
Under Regulation 33(2)(d), the chief internal auditor functionally reports to whom for administrative matters, while maintaining independence for audit findings?
ExplanationRegulation 33(2)(d) establishes this dual-reporting model: administrative alignment with the PAO, but functional/audit independence reporting through the audit committee.
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Question 180 of 200
Which regulation number addresses the Finance Division's 'Role... with regard to state-owned-enterprises'?
ExplanationRegulation 24 is specifically titled 'Role of Finance Division with regard to state-owned-enterprises'.
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Question 181 of 200
Under Regulation 7(1)(j), the PAO is responsible for the timely realisation of what, particularly with respect to non-tax revenue?
ExplanationRegulation 7(1)(j) obligates the PAO to ensure timely realisation of budgeted revenue collection, with particular emphasis on non-tax revenue.
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Question 182 of 200
Under Regulation 32(6), in respect of development planning, the CFAO engages with which body regarding the development budget or PSDP?
ExplanationRegulation 32(6)(a) directs the CFAO to work with Planning and Development Division/Planning Commission on development budget/PSDP matters, under PAO guidance.
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Question 183 of 200
Under Regulation 7(1)(o), the PAO is responsible for the safe custody of assets, including maintenance of what specific records?
ExplanationRegulation 7(1)(o) requires the PAO to ensure safe custody of assets, including maintaining asset and inventory registers, and maximizing returns on each asset.
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Question 184 of 200
Which of the following best explains why Regulation 8(f) formally recognizes the CFAO's assisting role to the PAO, even though Regulations 30-32 separately elaborate the CFAO's detailed functions?
ExplanationThis reflects standard legislative drafting practice: establishing a principle early (Regulation 8) and then elaborating its full operational detail in a dedicated later section (Regulations 30-32).
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Question 185 of 200
Under Regulation 8(c), heads of departments and heads of autonomous bodies shall be responsible for financial propriety and accountability to what extent?
ExplanationRegulation 8(c) ties the accountability of heads of department/autonomous bodies proportionately to the scope of powers actually delegated to them.
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Question 186 of 200
Under Regulation 3, what is the principal accounting officer described as being, with respect to financial resources under his administrative control?
ExplanationRegulation 3(1) states the PAO 'shall be responsible for all financial matters... and he shall be custodian and operator of the financial resources.'
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Question 187 of 200
Under Regulation 14(h), the PAO must abide by instructions and guidelines issued by which body regarding development projects or schemes under the Act?
ExplanationRegulation 14(h) requires PAO compliance with Planning Commission guidance for development projects/schemes, complementing the Finance Division's budgetary role.
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Question 188 of 200
Under Regulation 29, the Finance Division provides opinion on financial matters related to development projects and schemes in light of what framework?
ExplanationRegulation 29 anchors Finance Division's scrutiny of development projects/schemes to the medium-term macroeconomic and fiscal frameworks.
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Question 189 of 200
Under Regulation 33(1), the internal audit function shall be headed by an officer designated as what?
ExplanationRegulation 33(1) establishes the chief internal auditor as the head of the internal audit function within a Ministry or Division.
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Question 190 of 200
Which regulation of the FM&PPAO Regulations, 2021 is titled 'Chief internal auditor'?
ExplanationRegulation 33 carries this exact title, distinct from Regulation 30's 'Chief finance and accounts officer'.
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Question 191 of 200
Under Regulation 32(11), in respect of internal audit, the CFAO cooperates with the chief internal auditor and audit committee in preparing what?
ExplanationRegulation 32(11) ties the CFAO's internal-audit-related function to cooperating on the annual internal audit plan and ensuring timely audit responses.
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Question 192 of 200
Which system of financial control did the FM&PPAO Regulations, 2021 replace upon their notification?
ExplanationRegulation 34 repeals the revised System of Financial Control and Budgeting, 2000, along with any contrary regulations, instructions, or practices.
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Question 193 of 200
Which regulation addresses 'Inclusion of surrendered funds in the next year's budget'?
ExplanationRegulation 23 specifically deals with re-including surrendered funds (for foreign-funded development projects) in the following year's budget.
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Question 194 of 200
Which regulation is titled 'Chief finance and accounts officer', establishing the CFAO's basic office and role?
ExplanationRegulation 30 carries this exact title and establishes the fundamental nature of the CFAO office.
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Question 195 of 200
Under Regulation 32(10), in respect of budget execution/operations, the CFAO assists the PAO in processing matters including releases, re-appropriations, and what else?
ExplanationRegulation 32(10)(a) lists this comprehensive set of budget-execution matters the CFAO assists with, per applicable release policy/rules.
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Question 196 of 200
Under Regulation 11 ('Public advantage'), what is prohibited regarding payment orders or expenditure sanctions?
ExplanationRegulation 11 prohibits self-serving or narrowly-targeted expenditure sanctions, except where mandated by a competent court or in pursuance of approved government policy.
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Question 197 of 200
Which regulation of the FM&PPAO Regulations, 2021 is titled 'Accountability'?
ExplanationRegulation 6, titled 'Accountability', addresses the PAO's answerability to Parliament.
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Question 198 of 200
Which of the following best explains the rationale for Regulation 4(2)'s proviso permitting a senior officer (rather than a constitutional office-holder) to serve as PAO where the head of an organization holds a constitutional position?
ExplanationThis proviso sensibly separates the constitutional functions of certain office-holders from the specific, hands-on PAO accountability role (including routine PAC engagement), which is better suited to a dedicated senior administrative officer.
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Question 199 of 200
Under Regulation 4(1), what determines an official's eligibility as principal accounting officer if already designated under some other existing law?
ExplanationRegulation 4(1) preserves the eligibility criteria of any other existing law under which an official is already designated PAO for the relevant entity.
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Question 200 of 200
Under Regulation 7(1)(p), how frequently must the PAO furnish a reconciled statement of revenue and expenditure to the Finance Division?
ExplanationRegulation 7(1)(p) requires quarterly submission of reconciled revenue/expenditure statements to the Finance Division via the chief finance and accounts officer, alongside monthly reconciliation with accounting offices.
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