Select The Blank
Question
Inspection methods analyze ________.
Correct Answer
Degree of inspection
Your Answer
Quality of material
Multiple Choice Single Answer
Question
In Fixed-Order quantity system, cycle time of consumption should be :-
Correct Answer
More than lead time
Your Answer
Less than lead-time
Select The Blank
Question
In the ________ , the composition of code is in three groups of digits that are separated by hyphens, the hyphens serves to break the code into easy to handle group of digits.
Correct Answer
Kodak system
Your Answer
Kodak system
Multiple Choice Single Answer
Question
A buyer gives wrong idea to his supplier about his requirements or show a fictitious figure to get some price discount is called as :-
Correct Answer
Misrepresentation of facts
Your Answer
Misrepresentation of facts
Multiple Choice Single Answer
Question
JIT is an :-
Correct Answer
Inventory reduction technique
Your Answer
Just-in-time
Multiple Choice Single Answer
Question
Issues to top up supply to pre-fixed levels of items are :-
Correct Answer
Imprest issues
Your Answer
Imprest issues
True/False
Question
Two bin system is better as compared to perpetual inventory system.
Correct Answer
False
Your Answer
True
Multiple Choice Multiple Answer
Question
Annual total cost changes :-
Correct Answer
If stock turnover rate changes , If quantity changes
Your Answer
If stock turnover rate changes , If procurement cost changes , If set-up cost changes
True/False
Question
Functionally critical parts require to be covered under cent per cent inspection
Correct Answer
True
Your Answer
False
Select The Blank
Question
GRR are sent from ________.
Correct Answer
Stores Dept.
Your Answer
Stores Dept.
Multiple Choice Single Answer
Question
Competitive price information must be treated as confidential and should not be disclosed to the bidders with an intention of allowing them to rebid is :-
Correct Answer
Improprieties of bids
Your Answer
Price disclosure
Select The Blank
Question
Good ________ relations are necessary for effective materials planning as every department is involved in materials planning because each department requires one item or other another.
Correct Answer
Departmental
Your Answer
Departmental
Multiple Choice Multiple Answer
Question
The following are the actions would help to improve effectiveness of materials planning :-
Correct Answer
Accurate forecasting , Computerization , Shorter materials plan period
Your Answer
Accurate forecasting , Computerization , Shorter materials plan period
Match The Following
Question
Correct Answer
Your Answer
JE
Journal Entries
Journal Entries
PO
Purchase order
Purchase order
GRN
Goods receipt note
Goods receipt note
DN
Discrepancy note.
Discrepancy note.
True/False
Question
Cancellation of orders on flimsy ground is unethical.
Correct Answer
True
Your Answer
True
Select The Blank
Question
Standardized containers eliminates ________
Correct Answer
Transit damage
Your Answer
Transit damage
Multiple Choice Single Answer
Question
Purchase order offers acceptance and have been clearly laid down in :-
Correct Answer
Indian Contract act 1872
Your Answer
Indian Contract act 1872
Multiple Choice Single Answer
Question
For the inspection of Stationery which department is responsible?
Correct Answer
Stores
Your Answer
Stores
Match The Following
Question
Correct Answer
Your Answer
FAS (4-2)
Sale at the port of destination
Sale at port of export
FOB (1-1)
Sale is made on FOB vessel
Sale is made on FOB vessel
CIF (2-4)
Sale is made at port of destination
Sale at the port of destination
CFR (3-3)
Sale at port of export
Sale is made at port of destination
Multiple Choice Single Answer
Question
Reprocessing of Scrap is :-
Correct Answer
Reclaiming for re-use
Your Answer
Reclaiming for re-use
Multiple Choice Single Answer
Question
Limit gauges are used to verify :-
Correct Answer
Whether the product is within the specification
Your Answer
Whether the product is within the specification
Multiple Choice Single Answer
Question
Which of the following is not the internal factor influencing materials planning?
Correct Answer
International market
Your Answer
International market
Multiple Choice Single Answer
Question
The system should be designed in such a way that it serves the advantages that are expected to accrue from it, is called as :-
Correct Answer
Objective oriented
Your Answer
Objective oriented
Multiple Choice Single Answer
Question
Real creative ideas results :-
Correct Answer
When members ventures into impossible areas
Your Answer
When opportunity is given to staff
Multiple Choice Multiple Answer
Question
Segregation of scrap means :-
Correct Answer
Sorting by type, size, grade etc. , Sorting by grade, weight
Your Answer
Sorting by type, size, grade etc. , Sorting by grade, weight
Select The Blank
Question
________clause should be inserted in the purchase order of items critical to project to induce supplier for early completion of the orders.
Correct Answer
Bonus
Your Answer
Penalty for delay
True/False
Question
Single tender system is used when there is only one supplier of the item.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
Following are benefits of scientific stoke management :-
Correct Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material
Your Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material
True/False
Question
Stores is the "Safe Custody" for keeping materials
Correct Answer
True
Your Answer
True
True/False
Question
Value analysis is the cost reduction technique.
Correct Answer
True
Your Answer
True
True/False
Question
Codification avoids confusion and doubt caused by long description of items.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
Complaints concerning should be made in such a way that negative reactions are avoided such as :-
Correct Answer
Delivery failures , Rejection , Shortages
Your Answer
Delivery failures , Rejection , Shortages
True/False
Question
A firm engaged in custom-built-product, is usually plagued with obsolete material.
Correct Answer
True
Your Answer
True
Select The Blank
Question
________ refers to the procurement of the requirements of all departments of the firm by a central purchase organization.
Correct Answer
Centralisation
Your Answer
Centralisation
Multiple Choice Multiple Answer
Question
Conventional machine set-up time includes :-
Correct Answer
Tool replenishment , First piece inspection
Your Answer
Tool replenishment , First piece inspection , Set-up
Multiple Choice Multiple Answer
Question
Stock-out is due to :-
Correct Answer
Unusual high demands , Delay in deliveries
Your Answer
Unusual high demands , Delay in deliveries , Machine break-down
True/False
Question
Negotiation should end up with an unhappy supplier.
Correct Answer
False
Your Answer
False
Select The Blank
Question
Systematic, formal and continuous analysis of all factors affect ________ management function is known as Materials research.
Correct Answer
Materials
Your Answer
Materials
True/False
Question
Since stock-taking is a check on storekeeper, it should not be conducted by him.
Correct Answer
False
Your Answer
False
Multiple Choice Multiple Answer
Question
Salient features of the working of the price panel are as under :-
Correct Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.
Your Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.
Multiple Choice Multiple Answer
Question
Application for an import license must be signed from :-
Correct Answer
Proprietor , Partner of firm , Person duly authorized by board of directors of company
Your Answer
Proprietor , Partner of firm , Person duly authorized by board of directors of company
True/False
Question
Manual inspection is economical when volume of output is small.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
For large organizations where product is made up of assemblies of manufactured components raw material store is subdivided into :-
Correct Answer
Foundry store , Tool crib , Maintenance store
Your Answer
Foundry store , Tool crib , Goods inward store
True/False
Question
Post parcel consignments are cleared through customs & clearance is done through foreign post office.
Correct Answer
True
Your Answer
True
Multiple Choice Single Answer
Question
What is the meaning of discharge of contract by novation?
Correct Answer
If the parties agree to substitute a new contract in place of existing one or alter it, original contract is discharged
Your Answer
If the parties agree to substitute a new contract in place of existing one or alter it, original contract is discharged
Select The Blank
Question
Quantity delivered of goods must be according to the ________.
Correct Answer
Terms of contract
Your Answer
Terms of contract
Multiple Choice Single Answer
Question
Which of the following is not the external factor influencing materials planning?
Correct Answer
Corporate objective
Your Answer
Corporate objective
Question
Inspection methods analyze ________.
Correct Answer
Degree of inspection
Your Answer
Quality of material
Multiple Choice Single Answer
Question
In Fixed-Order quantity system, cycle time of consumption should be :-
Correct Answer
More than lead time
Your Answer
Less than lead-time
Select The Blank
Question
In the ________ , the composition of code is in three groups of digits that are separated by hyphens, the hyphens serves to break the code into easy to handle group of digits.
Correct Answer
Kodak system
Your Answer
Kodak system
Multiple Choice Single Answer
Question
A buyer gives wrong idea to his supplier about his requirements or show a fictitious figure to get some price discount is called as :-
Correct Answer
Misrepresentation of facts
Your Answer
Misrepresentation of facts
Multiple Choice Single Answer
Question
JIT is an :-
Correct Answer
Inventory reduction technique
Your Answer
Just-in-time
Multiple Choice Single Answer
Question
Issues to top up supply to pre-fixed levels of items are :-
Correct Answer
Imprest issues
Your Answer
Imprest issues
True/False
Question
Two bin system is better as compared to perpetual inventory system.
Correct Answer
False
Your Answer
True
Multiple Choice Multiple Answer
Question
Annual total cost changes :-
Correct Answer
If stock turnover rate changes , If quantity changes
Your Answer
If stock turnover rate changes , If procurement cost changes , If set-up cost changes
True/False
Question
Functionally critical parts require to be covered under cent per cent inspection
Correct Answer
True
Your Answer
False
Select The Blank
Question
GRR are sent from ________.
Correct Answer
Stores Dept.
Your Answer
Stores Dept.
Multiple Choice Single Answer
Question
Competitive price information must be treated as confidential and should not be disclosed to the bidders with an intention of allowing them to rebid is :-
Correct Answer
Improprieties of bids
Your Answer
Price disclosure
Select The Blank
Question
Good ________ relations are necessary for effective materials planning as every department is involved in materials planning because each department requires one item or other another.
Correct Answer
Departmental
Your Answer
Departmental
Multiple Choice Multiple Answer
Question
The following are the actions would help to improve effectiveness of materials planning :-
Correct Answer
Accurate forecasting , Computerization , Shorter materials plan period
Your Answer
Accurate forecasting , Computerization , Shorter materials plan period
Match The Following
Question
Correct Answer
Your Answer
JE
Journal Entries
Journal Entries
PO
Purchase order
Purchase order
GRN
Goods receipt note
Goods receipt note
DN
Discrepancy note.
Discrepancy note.
True/False
Question
Cancellation of orders on flimsy ground is unethical.
Correct Answer
True
Your Answer
True
Select The Blank
Question
Standardized containers eliminates ________
Correct Answer
Transit damage
Your Answer
Transit damage
Multiple Choice Single Answer
Question
Purchase order offers acceptance and have been clearly laid down in :-
Correct Answer
Indian Contract act 1872
Your Answer
Indian Contract act 1872
Multiple Choice Single Answer
Question
For the inspection of Stationery which department is responsible?
Correct Answer
Stores
Your Answer
Stores
Match The Following
Question
Correct Answer
Your Answer
FAS (4-2)
Sale at the port of destination
Sale at port of export
FOB (1-1)
Sale is made on FOB vessel
Sale is made on FOB vessel
CIF (2-4)
Sale is made at port of destination
Sale at the port of destination
CFR (3-3)
Sale at port of export
Sale is made at port of destination
Multiple Choice Single Answer
Question
Reprocessing of Scrap is :-
Correct Answer
Reclaiming for re-use
Your Answer
Reclaiming for re-use
Multiple Choice Single Answer
Question
Limit gauges are used to verify :-
Correct Answer
Whether the product is within the specification
Your Answer
Whether the product is within the specification
Multiple Choice Single Answer
Question
Which of the following is not the internal factor influencing materials planning?
Correct Answer
International market
Your Answer
International market
Multiple Choice Single Answer
Question
The system should be designed in such a way that it serves the advantages that are expected to accrue from it, is called as :-
Correct Answer
Objective oriented
Your Answer
Objective oriented
Multiple Choice Single Answer
Question
Real creative ideas results :-
Correct Answer
When members ventures into impossible areas
Your Answer
When opportunity is given to staff
Multiple Choice Multiple Answer
Question
Segregation of scrap means :-
Correct Answer
Sorting by type, size, grade etc. , Sorting by grade, weight
Your Answer
Sorting by type, size, grade etc. , Sorting by grade, weight
Select The Blank
Question
________clause should be inserted in the purchase order of items critical to project to induce supplier for early completion of the orders.
Correct Answer
Bonus
Your Answer
Penalty for delay
True/False
Question
Single tender system is used when there is only one supplier of the item.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
Following are benefits of scientific stoke management :-
Correct Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material
Your Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material
True/False
Question
Stores is the "Safe Custody" for keeping materials
Correct Answer
True
Your Answer
True
True/False
Question
Value analysis is the cost reduction technique.
Correct Answer
True
Your Answer
True
True/False
Question
Codification avoids confusion and doubt caused by long description of items.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
Complaints concerning should be made in such a way that negative reactions are avoided such as :-
Correct Answer
Delivery failures , Rejection , Shortages
Your Answer
Delivery failures , Rejection , Shortages
True/False
Question
A firm engaged in custom-built-product, is usually plagued with obsolete material.
Correct Answer
True
Your Answer
True
Select The Blank
Question
________ refers to the procurement of the requirements of all departments of the firm by a central purchase organization.
Correct Answer
Centralisation
Your Answer
Centralisation
Multiple Choice Multiple Answer
Question
Conventional machine set-up time includes :-
Correct Answer
Tool replenishment , First piece inspection
Your Answer
Tool replenishment , First piece inspection , Set-up
Multiple Choice Multiple Answer
Question
Stock-out is due to :-
Correct Answer
Unusual high demands , Delay in deliveries
Your Answer
Unusual high demands , Delay in deliveries , Machine break-down
True/False
Question
Negotiation should end up with an unhappy supplier.
Correct Answer
False
Your Answer
False
Select The Blank
Question
Systematic, formal and continuous analysis of all factors affect ________ management function is known as Materials research.
Correct Answer
Materials
Your Answer
Materials
True/False
Question
Since stock-taking is a check on storekeeper, it should not be conducted by him.
Correct Answer
False
Your Answer
False
Multiple Choice Multiple Answer
Question
Salient features of the working of the price panel are as under :-
Correct Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.
Your Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.
Multiple Choice Multiple Answer
Question
Application for an import license must be signed from :-
Correct Answer
Proprietor , Partner of firm , Person duly authorized by board of directors of company
Your Answer
Proprietor , Partner of firm , Person duly authorized by board of directors of company
True/False
Question
Manual inspection is economical when volume of output is small.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
For large organizations where product is made up of assemblies of manufactured components raw material store is subdivided into :-
Correct Answer
Foundry store , Tool crib , Maintenance store
Your Answer
Foundry store , Tool crib , Goods inward store
True/False
Question
Post parcel consignments are cleared through customs & clearance is done through foreign post office.
Correct Answer
True
Your Answer
True
Multiple Choice Single Answer
Question
What is the meaning of discharge of contract by novation?
Correct Answer
If the parties agree to substitute a new contract in place of existing one or alter it, original contract is discharged
Your Answer
If the parties agree to substitute a new contract in place of existing one or alter it, original contract is discharged
Select The Blank
Question
Quantity delivered of goods must be according to the ________.
Correct Answer
Terms of contract
Your Answer
Terms of contract
Multiple Choice Single Answer
Question
Which of the following is not the external factor influencing materials planning?
Correct Answer
Corporate objective
Your Answer
Corporate objective
Select The Blank
Question
Inspection methods analyze ________.
Correct Answer
Degree of inspection
Your Answer
Quality of material
Multiple Choice Single Answer
Question
In Fixed-Order quantity system, cycle time of consumption should be :-
Correct Answer
More than lead time
Your Answer
Less than lead-time
Select The Blank
Question
In the ________ , the composition of code is in three groups of digits that are separated by hyphens, the hyphens serves to break the code into easy to handle group of digits.
Correct Answer
Kodak system
Your Answer
Kodak system
Multiple Choice Single Answer
Question
A buyer gives wrong idea to his supplier about his requirements or show a fictitious figure to get some price discount is called as :-
Correct Answer
Misrepresentation of facts
Your Answer
Misrepresentation of facts
Multiple Choice Single Answer
Question
JIT is an :-
Correct Answer
Inventory reduction technique
Your Answer
Just-in-time
Multiple Choice Single Answer
Question
Issues to top up supply to pre-fixed levels of items are :-
Correct Answer
Imprest issues
Your Answer
Imprest issues
True/False
Question
Two bin system is better as compared to perpetual inventory system.
Correct Answer
False
Your Answer
True
Multiple Choice Multiple Answer
Question
Annual total cost changes :-
Correct Answer
If stock turnover rate changes , If quantity changes
Your Answer
If stock turnover rate changes , If procurement cost changes , If set-up cost changes
True/False
Question
Functionally critical parts require to be covered under cent per cent inspection
Correct Answer
True
Your Answer
False
Select The Blank
Question
GRR are sent from ________.
Correct Answer
Stores Dept.
Your Answer
Stores Dept.
Question Question
Inspection methods analyze ________.
Correct Answer
Degree of inspection
Your Answer
Quality of material
Multiple Choice Single Answer
Question
In Fixed-Order quantity system, cycle time of consumption should be :-
Correct Answer
More than lead time
Your Answer
Less than lead-time
Select The Blank
Question
In the ________ , the composition of code is in three groups of digits that are separated by hyphens, the hyphens serves to break the code into easy to handle group of digits.
Correct Answer
Kodak system
Your Answer
Kodak system
Multiple Choice Single Answer
Question
A buyer gives wrong idea to his supplier about his requirements or show a fictitious figure to get some price discount is called as :-
Correct Answer
Misrepresentation of facts
Your Answer
Misrepresentation of facts
Multiple Choice Single Answer
Question
JIT is an :-
Correct Answer
Inventory reduction technique
Your Answer
Just-in-time
Multiple Choice Single Answer
Question
Issues to top up supply to pre-fixed levels of items are :-
Correct Answer
Imprest issues
Your Answer
Imprest issues
True/False
Question
Two bin system is better as compared to perpetual inventory system.
Correct Answer
False
Your Answer
True
Multiple Choice Multiple Answer
Question
Annual total cost changes :-
Correct Answer
If stock turnover rate changes , If quantity changes
Your Answer
If stock turnover rate changes , If procurement cost changes , If set-up cost changes
True/False
Question
Functionally critical parts require to be covered under cent per cent inspection
Correct Answer
True
Your Answer
False
Select The Blank
Question
GRR are sent from ________.
Correct Answer
Stores Dept.
Your Answer
Stores Dept.
Competitive price information must be treated as confidential and should not be disclosed to the bidders with an intention of allowing them to rebid is :-
Correct Answer
Improprieties of bids
Your Answer
Price disclosure
Select The Blank
Multiple Choice Single Answer
LIST OF ATTEMPTED QUESTIONS AND ANSWERS
True/False
Question
In fixed-order interval system, order interval is fixed.
Correct Answer
True
Your Answer
True
True/False
Question
Pre-fixed qty. issue system is suitable for A-class items.
Correct Answer
False
Your Answer
True
Select The Blank
Question
________ find their use in identification of raw materials, lubricants, pipelines etc.
Correct Answer
Colour codes
Your Answer
Colour codes
Select The Blank
Question
Two-bin system supersedes ________.
Correct Answer
Perpetual inventory
Your Answer
Variable inventory
Multiple Choice Multiple Answer
Question
In F.O.R. contract seller is responsible for :-
Correct Answer
Arranging for movement of goods to the transporter's godown , Safe loading on into the vehicle , Keeping the material in deliverable state
Your Answer
Paying for the local transport , Arranging for movement of goods to the transporter's godown , Safe loading on into the vehicle
Multiple Choice Single Answer
Question
Organization decided to import when :-
Correct Answer
Item is not available in the country
Your Answer
Item is not available in the country
Multiple Choice Single Answer
Question
The purchasing made under contract , usually formal, of needed materials, the delivery of which is frequently spread over a period of time is known as :-
Correct Answer
Contract buying
Your Answer
Contract buying
Multiple Choice Multiple Answer
Question
Internal lead time can be reduced :-
Correct Answer
By selectively delegating the powers , By developing local vendor
Your Answer
By selectively delegating the powers , By developing local vendor , By better paper-work
True/False
Question
Telephonic quotations are useful when there is limited competition.
Correct Answer
True
Your Answer
True
Multiple Choice Single Answer
Question
The point of transfer of ownership rights from seller to buyer is :-
Correct Answer
Place of delivery
Your Answer
Spare part and supply contracts
Multiple Choice Single Answer
Question
Prices of certain commodity may be fixed by the government and thereby putting a restriction on both buyer and seller is :-
Correct Answer
Government restrictions
Your Answer
Government restrictions
Match The Following
Question
Correct Answer
Your Answer
Review period
Order interval
Two-bin system
FOQ system
B-class items
B-class items
Reduction in record-keeping
Two-bin system
Order interval
Fixed-Order Interval system
Fixed order interval
Fixed order interval
Select The Blank
Question
Average inventory in any replenishment system is ________ to sum of minimum & maximum stock.
Correct Answer
Equal
Your Answer
Steady
Multiple Choice Multiple Answer
Question
Following are distinguishing features of Air consignment :-
Correct Answer
No system of prior entry , 3 free days are allowed from flight date
Your Answer
No system of prior entry , 3 free days are allowed from flight date , All rules are same for Air & Sea consignment
Multiple Choice Multiple Answer
Question
Typical examples of direct materials are :-
Correct Answer
Cloth in the manufacture of garment , Wood in the manufacture of furniture , Fruits in a canning industry
Your Answer
Cloth in the manufacture of garment , Wood in the manufacture of furniture , Fruits in a canning industry
True/False
Question
Cost of capacity which may be rendered idle if the item currently being manufactured in purchased needs to be added to the cost to buy.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
Following special schemes are announced by Indian Government under which import can be permitted at zero duty or at less duty :-
Correct Answer
Export promotion capital goods scheme , Diamond &Jewellary promotion scheme , Import by 100% export oriented units
Your Answer
Export promotion capital goods scheme , Diamond &Jewellary promotion scheme
Multiple Choice Single Answer
Question
Government departments and public sector undertakings in India follow this method of buying :-
Correct Answer
Tender buying
Your Answer
Blanket orders
Match The Following
Question
Correct Answer
Your Answer
Right place
Delivery as per contract
Delivery as per contract
Buyers right
Examine the goods
Examine the contract
Unpaid sellers right
Of lien
Attack on buyers property
Delivery
Transfer of ownership rights from seller to the buyer
Of lien
Select The Blank
Question
Acceptance sampling plans have been evolved ________.
Correct Answer
Based on probability theory
Your Answer
Based on probability theory
True/False
Question
Purchase cost is the price paid the supplier
Correct Answer
True
Your Answer
True
True/False
Question
Esteem value is paid by the supplier.
Correct Answer
False
Your Answer
True
True/False
Question
Vendors are not responsible for statutory approvals from government authorities.
Correct Answer
False
Your Answer
True
Multiple Choice Multiple Answer
Question
Advantages of fixed price agreements are :-
Correct Answer
They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations
Your Answer
They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations
Multiple Choice Single Answer
Question
The threat on the part of supplier to hold supplies until favourable price decisions is :-
Correct Answer
Ability to hold on price
Your Answer
Ability to hold on price
Select The Blank
Question
Finished parts are called as ________.
Correct Answer
Bought-out parts
Your Answer
Auxillary parts
Select The Blank
Question
Tendering in the absence of negotiations is also called ________.
Correct Answer
Firm bidding
Your Answer
Schedule buying
Multiple Choice Multiple Answer
Question
Special stores are created where :-
Correct Answer
Material need to be held under the control of the bank , Material need to be held for perishable items , Material need to be held for explosive & inflammable items
Your Answer
Material need to be held under the control of the bank , Material need to be held for perishable items , Material need to be held for costly items
Multiple Choice Single Answer
Question
What is the identification & location of stock in store?
Correct Answer
Formulating & updating a system of stores and coding to items which should ensure efficient identification & location of goods.
Your Answer
Formulating & updating a system of stores and coding to items which should ensure efficient identification & location of goods.
Multiple Choice Single Answer
Question
The inventories which refer to the maintenance, repair and operation supplies which are consumed during process of manufacturing but do not become part of the product is :-
Correct Answer
MRO inventories
Your Answer
In process inventories
True/False
Question
Noting clerk examines bill of entry papers & if found in order signs the bill of entry.
Correct Answer
True
Your Answer
True
Multiple Choice Single Answer
Question
The organization set up by FAO & WHO to evolve food standards :-
Correct Answer
Codex Alimentarious commission
Your Answer
Codex Alimentarious commission
Multiple Choice Multiple Answer
Question
Salient features of the working of the price panel are as under :-
Correct Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.
Your Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.
Multiple Choice Single Answer
Question
The method used for making purchases of proprietary items is :-
Correct Answer
Single tender
Your Answer
Open tender
Select The Blank
Question
All incoming materials are insured against ________
Correct Answer
Damage / loss
Your Answer
Value of material
Multiple Choice Multiple Answer
Question
Disadvantages of forward buying are :-
Correct Answer
Such a buying may not serve entirely the needs of the production department , Price expectations if not realised may result in major financial loss to the firm. , Large scale obsolescence may result if design changes occur.
Your Answer
Such a buying may not serve entirely the needs of the production department , Price expectations if not realised may result in major financial loss to the firm. , Inventory holding charges are lower.
True/False
Question
Lead time information is required for determination of safety stock.
Correct Answer
False
Your Answer
True
True/False
Question
Fire extinguishers should be very near to staff members.
Correct Answer
False
Your Answer
True
Multiple Choice Multiple Answer
Question
In Ex-works contract buyer is responsible for :-
Correct Answer
Arranging for transport including loading on to the vehicle at supplier's works , Paying for freight , Arranging for transit insurance
Your Answer
Keeping the material in deliverable state , Arranging for transport including loading on to the vehicle at supplier's works
Multiple Choice Single Answer
Question
Sales returns means :-
Correct Answer
Receipt of goods from Customer
Your Answer
Rejection of goods
Select The Blank
Question
Cost of special tooling is called as ________.
Correct Answer
Cost to buy
Your Answer
Cost to buy
Select The Blank
Question
________ is followed in public sector organizations to identify the lowest potential bidder.
Correct Answer
Tender system
Your Answer
Tender system
Select The Blank
Question
Stock-out is nothing but ________.
Correct Answer
Stock get depleted before receipt
Your Answer
Nil stock
Multiple Choice Single Answer
Question
The orders, to the extent possible should be avoided is called as :-
Correct Answer
Rush
Your Answer
Rush
Multiple Choice Multiple Answer
Question
Deterioration of electrodes causes :-
Correct Answer
Increase in arc instability , Excessive spatter
Your Answer
Increase in arc instability , Excessive spatter , High smoke while using
Multiple Choice Multiple Answer
Question
Following agreement have been expressly declared void as per the Indian Contract Act 1872 :-
Correct Answer
Agreement in restraint of marriage , Agreement by way of wages , Agreements to do impossible acts
Your Answer
Agreement in restraint of marriage , Agreements in restraints of business , Agreement by way of wages
Select The Blank
Question
Systematic ________of stores is the key to its efficient operation.
Correct Answer
Layout
Your Answer
Layout
True/False
Question
In fixed-order interval system, order interval is fixed.
Correct Answer
True
Your Answer
True
True/False
Question
Pre-fixed qty. issue system is suitable for A-class items.
Correct Answer
False
Your Answer
True
Select The Blank
Question
________ find their use in identification of raw materials, lubricants, pipelines etc.
Correct Answer
Colour codes
Your Answer
Colour codes
Select The Blank
Question
Two-bin system supersedes ________.
Correct Answer
Perpetual inventory
Your Answer
Variable inventory
Multiple Choice Multiple Answer
Question
In F.O.R. contract seller is responsible for :-
Correct Answer
Arranging for movement of goods to the transporter's godown , Safe loading on into the vehicle , Keeping the material in deliverable state
Your Answer
Paying for the local transport , Arranging for movement of goods to the transporter's godown , Safe loading on into the vehicle
Multiple Choice Single Answer
Question
Organization decided to import when :-
Correct Answer
Item is not available in the country
Your Answer
Item is not available in the country
Multiple Choice Single Answer
Question
The purchasing made under contract , usually formal, of needed materials, the delivery of which is frequently spread over a period of time is known as :-
Correct Answer
Contract buying
Your Answer
Contract buying
Multiple Choice Multiple Answer
Question
Internal lead time can be reduced :-
Correct Answer
By selectively delegating the powers , By developing local vendor
Your Answer
By selectively delegating the powers , By developing local vendor , By better paper-work
True/False
Question
Telephonic quotations are useful when there is limited competition.
Correct Answer
True
Your Answer
True
Multiple Choice Single Answer
Question
The point of transfer of ownership rights from seller to buyer is :-
Correct Answer
Place of delivery
Your Answer
Spare part and supply contracts
Multiple Choice Single Answer
Question
Prices of certain commodity may be fixed by the government and thereby putting a restriction on both buyer and seller is :-
Correct Answer
Government restrictions
Your Answer
Government restrictions
Match The Following
Question
Correct Answer
Your Answer
Review period
Order interval
Two-bin system
FOQ system
B-class items
B-class items
Reduction in record-keeping
Two-bin system
Order interval
Fixed-Order Interval system
Fixed order interval
Fixed order interval
Select The Blank
Question
Average inventory in any replenishment system is ________ to sum of minimum & maximum stock.
Correct Answer
Equal
Your Answer
Steady
Multiple Choice Multiple Answer
Question
Following are distinguishing features of Air consignment :-
Correct Answer
No system of prior entry , 3 free days are allowed from flight date
Your Answer
No system of prior entry , 3 free days are allowed from flight date , All rules are same for Air & Sea consignment
Multiple Choice Multiple Answer
Question
Typical examples of direct materials are :-
Correct Answer
Cloth in the manufacture of garment , Wood in the manufacture of furniture , Fruits in a canning industry
Your Answer
Cloth in the manufacture of garment , Wood in the manufacture of furniture , Fruits in a canning industry
True/False
Question
Cost of capacity which may be rendered idle if the item currently being manufactured in purchased needs to be added to the cost to buy.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
Following special schemes are announced by Indian Government under which import can be permitted at zero duty or at less duty :-
Correct Answer
Export promotion capital goods scheme , Diamond &Jewellary promotion scheme , Import by 100% export oriented units
Your Answer
Export promotion capital goods scheme , Diamond &Jewellary promotion scheme
Multiple Choice Single Answer
Question
Government departments and public sector undertakings in India follow this method of buying :-
Correct Answer
Tender buying
Your Answer
Blanket orders
Match The Following
Question
Correct Answer
Your Answer
Right place
Delivery as per contract
Delivery as per contract
Buyers right
Examine the goods
Examine the contract
Unpaid sellers right
Of lien
Attack on buyers property
Delivery
Transfer of ownership rights from seller to the buyer
Of lien
Select The Blank
Question
Acceptance sampling plans have been evolved ________.
Correct Answer
Based on probability theory
Your Answer
Based on probability theory
True/False
Question
Purchase cost is the price paid the supplier
Correct Answer
True
Your Answer
True
True/False
Question
Esteem value is paid by the supplier.
Correct Answer
False
Your Answer
True
True/False
Question
Vendors are not responsible for statutory approvals from government authorities.
Correct Answer
False
Your Answer
True
Multiple Choice Multiple Answer
Question
Advantages of fixed price agreements are :-
Correct Answer
They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations
Your Answer
They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations
Multiple Choice Single Answer
Question
The threat on the part of supplier to hold supplies until favourable price decisions is :-
Correct Answer
Ability to hold on price
Your Answer
Ability to hold on price
Select The Blank
Question
Finished parts are called as ________.
Correct Answer
Bought-out parts
Your Answer
Auxillary parts
Select The Blank
Question
Tendering in the absence of negotiations is also called ________.
Correct Answer
Firm bidding
Your Answer
Schedule buying
Multiple Choice Multiple Answer
Question
Special stores are created where :-
Correct Answer
Material need to be held under the control of the bank , Material need to be held for perishable items , Material need to be held for explosive & inflammable items
Your Answer
Material need to be held under the control of the bank , Material need to be held for perishable items , Material need to be held for costly items
Multiple Choice Single Answer
Question
What is the identification & location of stock in store?
Correct Answer
Formulating & updating a system of stores and coding to items which should ensure efficient identification & location of goods.
Your Answer
Formulating & updating a system of stores and coding to items which should ensure efficient identification & location of goods.
Multiple Choice Single Answer
Question
The inventories which refer to the maintenance, repair and operation supplies which are consumed during process of manufacturing but do not become part of the product is :-
Correct Answer
MRO inventories
Your Answer
In process inventories
True/False
Question
Noting clerk examines bill of entry papers & if found in order signs the bill of entry.
Correct Answer
True
Your Answer
True
Multiple Choice Single Answer
Question
The organization set up by FAO & WHO to evolve food standards :-
Correct Answer
Codex Alimentarious commission
Your Answer
Codex Alimentarious commission
Multiple Choice Multiple Answer
Question
Salient features of the working of the price panel are as under :-
Correct Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.
Your Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.
Multiple Choice Single Answer
Question
The method used for making purchases of proprietary items is :-
Correct Answer
Single tender
Your Answer
Open tender
Select The Blank
Question
All incoming materials are insured against ________
Correct Answer
Damage / loss
Your Answer
Value of material
Multiple Choice Multiple Answer
Question
Disadvantages of forward buying are :-
Correct Answer
Such a buying may not serve entirely the needs of the production department , Price expectations if not realised may result in major financial loss to the firm. , Large scale obsolescence may result if design changes occur.
Your Answer
Such a buying may not serve entirely the needs of the production department , Price expectations if not realised may result in major financial loss to the firm. , Inventory holding charges are lower.
True/False
Question
Lead time information is required for determination of safety stock.
Correct Answer
False
Your Answer
True
True/False
Question
Fire extinguishers should be very near to staff members.
Correct Answer
False
Your Answer
True
Multiple Choice Multiple Answer
Question
In Ex-works contract buyer is responsible for :-
Correct Answer
Arranging for transport including loading on to the vehicle at supplier's works , Paying for freight , Arranging for transit insurance
Your Answer
Keeping the material in deliverable state , Arranging for transport including loading on to the vehicle at supplier's works
Multiple Choice Single Answer
Question
Sales returns means :-
Correct Answer
Receipt of goods from Customer
Your Answer
Rejection of goods
Select The Blank
Question
Cost of special tooling is called as ________.
Correct Answer
Cost to buy
Your Answer
Cost to buy
Select The Blank
Question
________ is followed in public sector organizations to identify the lowest potential bidder.
Correct Answer
Tender system
Your Answer
Tender system
Select The Blank
Question
Stock-out is nothing but ________.
Correct Answer
Stock get depleted before receipt
Your Answer
Nil stock
Multiple Choice Single Answer
Question
The orders, to the extent possible should be avoided is called as :-
Correct Answer
Rush
Your Answer
Rush
Multiple Choice Multiple Answer
Question
Deterioration of electrodes causes :-
Correct Answer
Increase in arc instability , Excessive spatter
Your Answer
Increase in arc instability , Excessive spatter , High smoke while using
Multiple Choice Multiple Answer
Question
Following agreement have been expressly declared void as per the Indian Contract Act 1872 :-
Correct Answer
Agreement in restraint of marriage , Agreement by way of wages , Agreements to do impossible acts
Your Answer
Agreement in restraint of marriage , Agreements in restraints of business , Agreement by way of wages
Select The Blank
Question
Systematic ________of stores is the key to its efficient operation.
Correct Answer
Layout
Your Answer
Layout
Multiple Choice Multiple Answer
Question
Primary duties to be performed by purchase department are :-
Correct Answer
Receipts, sorting of purchase indents and determination of method of buying , Performance evaluation and feedback , Search for suppliers
Your Answer
Search for suppliers , Receipts, sorting of purchase indents and determination of method of buying , Performance evaluation and feedback
True/False
Question
Indentor's copy is meant to enable indentor to follow up with the purchase department.
Correct Answer
True
Your Answer
True
Select The Blank
Question
________specification are usually flexible and can be altered during consultation with different manufacturers of the equipment.
Correct Answer
Equipment
Your Answer
Equipment
Multiple Choice Single Answer
Question
Second bin quantity can be qualified by :-
Correct Answer
m + L x C
Your Answer
m + L x C
True/False
Question
Continuous stock-taking tends to dislocate the working of store.
Correct Answer
False
Your Answer
False
Multiple Choice Single Answer
Question
Redundant Stock is nothing but :-
Correct Answer
Worthless for conversion & other use
Your Answer
Worthless for conversion & other use
Multiple Choice Single Answer
Question
The cost incurred in providing adequate insurance cover to the materials in transit and in storage is
Correct Answer
Insurance cost
Your Answer
Insurance cost
Select The Blank
Question
Set-up cost for manufactured item in own plant is ________.
Correct Answer
Very high
Your Answer
Very high
Multiple Choice Single Answer
Question
The buying which is received in staggered lots, each lot at times may equal EOQ is :-
Correct Answer
Contract buying
Your Answer
Schedule buying
Multiple Choice Single Answer
Question
Price of the commodity is conditioned by the forces of supply and demand is :-
Correct Answer
Demand and supply condition
Your Answer
Demand and supply condition
Multiple Choice Single Answer
Question
The submission of the final offers by the prospective sources is :-
Correct Answer
Firm bidding
Your Answer
Firm bidding
Select The Blank
Question
________ of the department refers to the placement of the department in the structure of the company.
Correct Answer
Status
Your Answer
Size
Select The Blank
Question
Paper work cost is ________.
Correct Answer
Procurement cost
Your Answer
Procurement cost
True/False
Question
The trade discount is not allowed as a percentage of published price.
Correct Answer
False
Your Answer
False
Multiple Choice Multiple Answer
Question
What are the different methods of identifying materials?
Correct Answer
Tagging , Labeling , Engraving
Your Answer
Tagging , Labeling , Engraving
Multiple Choice Single Answer
Question
Prices of certain commodity may be fixed by the government and thereby putting a restriction on both buyer and seller is :-
Correct Answer
Government restrictions
Your Answer
Government restrictions
True/False
Question
Multiple sampling is an extension of the double sampling plan.
Correct Answer
True
Your Answer
True
Match The Following
Question
Correct Answer
Your Answer
Labour management relations
Investigating into suppliers capabilities
Investigating into suppliers capabilities
Technical discussions between the representatives of a buyer and supplier
Techno commercial discussion and trial order
Techno commercial discussion and trial order
Follow up with the supplier until sample submission
Sample validation
Sample validation
Type of supplier
Preliminary selection of the suppliers
Preliminary selection of the suppliers
Select The Blank
Question
Review system-optional replenishment is a modification of ________.
Correct Answer
Fixed-order interval system
Your Answer
Re-order level system
Multiple Choice Multiple Answer
Question
Costs involved in materials management are
Correct Answer
Basic cost of materials , Government tax and levies , Ordering cost
Your Answer
Basic cost of materials , Government tax and levies , Ordering cost
True/False
Question
Safety stock forms a fixed portion of inventories.
Correct Answer
True
Your Answer
True
True/False
Question
Maintenance and repair costs in used equipments are relatively higher.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
What are the areas of control to improve profit
Correct Answer
Increase units sold , Increase production , Reducing capital
Your Answer
Increase units sold , Increase production , Reducing capital
Multiple Choice Multiple Answer
Question
Main transport documents used by trade are :-
Correct Answer
RR , LR
Your Answer
RR , LR
Multiple Choice Single Answer
Question
Quantity based advance license is based on standard of :-
Correct Answer
Input-output norms fixed by ALC
Your Answer
Input-output norms fixed by ALC
Select The Blank
Question
Originating department of daily material receipt report is ________.
Correct Answer
Receiving store
Your Answer
Purchase department
Multiple Choice Multiple Answer
Question
What are the limitations of alpha betical system?
Correct Answer
Repetition of alphabets often leads to confusion and wrong identification , The selection of proper alphabets for each of the items is difficult. , The codes cannot be amplified which restricts its use to smaller firms
Your Answer
Repetition of alphabets often leads to confusion and wrong identification , The selection of proper alphabets for each of the items is difficult. , The codes cannot be amplified which restricts its use to smaller firms
True/False
Question
Small parcels, Samples, gifts which are received from other countries provisions of import policy & customs not applied on them.
Correct Answer
False
Your Answer
False
Select The Blank
Question
Malpractices are ________.
Correct Answer
Manipulations by stores staff
Your Answer
Common in all stores
True/False
Question
The registered firms are required to submit security deposit which is required from unregistered firms.
Correct Answer
False
Your Answer
False
Multiple Choice Single Answer
Question
In instantaneous replenishment system :-
Correct Answer
Item consumption demand rate is constant
Your Answer
Item consumption demand rate is constant
Multiple Choice Multiple Answer
Question
Store manager has to ensure security :-
Correct Answer
Of store buildings , Of stock yards
Your Answer
Of store buildings , Of stock yards , Of stores staff
Multiple Choice Single Answer
Question
The process of procurement of raw material, wip, finished goods, jigs, fixtures and other tools and equipments which are required for the operation and maintenance of a manufacturing plant is known as
Correct Answer
Purchasing
Your Answer
Purchasing
Multiple Choice Multiple Answer
Question
Receiving inspector should have to :-
Correct Answer
Segregate defectives , Maintain vendor wise quality records
Your Answer
Segregate defectives , Maintain vendor wise quality records
Multiple Choice Single Answer
Question
Identifying the need for source selection and source development is :-
Correct Answer
Source requirement stage
Your Answer
Source requirement stage
True/False
Question
Supplier's delivery ratings should be communicated on periodical basis.
Correct Answer
True
Your Answer
True
Match The Following
Question
Correct Answer
Your Answer
Vendor rating
Right source
Right source
Replenishment method
Right time
Right time
Competitive bidding
Right price
Right price
EOQ
Right quantity
Right quantity
Multiple Choice Single Answer
Question
EOQ means :-
Correct Answer
When total cost & right quantity are balanced
Your Answer
When total cost & right quantity are balanced
Multiple Choice Single Answer
Question
The cost incurred in movement of materials from suppliers works to buyer's works is
Correct Answer
Freight cost
Your Answer
Freight cost
Multiple Choice Multiple Answer
Question
Value analysis speaks about :-
Correct Answer
Cost improvement , Improvement in quality
Your Answer
Cost improvement , Improvement in quality
Multiple Choice Multiple Answer
Question
Advantages of fixed price agreements are :-
Correct Answer
They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations
Your Answer
They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations
Multiple Choice Multiple Answer
Question
Main information in the bill of material is :-
Correct Answer
Part no. , Material specification , Quantity per assembly
Your Answer
Part no. , Material specification
Select The Blank
Question
________ is responsible for purchase of goods of right quality, quantity, time, price and source.
Correct Answer
Purchase division
Your Answer
Purchase division
Multiple Choice Single Answer
Question
The system not only should identify and classify all the existing items and it should have enough extra unassigned codes to absorb future items is called as :-
Correct Answer
Flexibility
Your Answer
Flexibility
Multiple Choice Single Answer
Question
Purchasing today is no longer just a commercial activity but it is a techno commercial activity. This is known as :-
Correct Answer
Changing nature of purchases
Your Answer
Changing nature of purchases
True/False
Question
Black listing may be for a limited period or for an indefinite period.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
Actions involved in sample validation are :-
Correct Answer
Follow up with the supplier until sample submission , Sample inspection , Feedback on defects and defect prevention
Your Answer
Sample inspection , Sample rejection
Question
Primary duties to be performed by purchase department are :-
Correct Answer
Receipts, sorting of purchase indents and determination of method of buying , Performance evaluation and feedback , Search for suppliers
Your Answer
Search for suppliers , Receipts, sorting of purchase indents and determination of method of buying , Performance evaluation and feedback
True/False
Question
Indentor's copy is meant to enable indentor to follow up with the purchase department.
Correct Answer
True
Your Answer
True
Select The Blank
Question
________specification are usually flexible and can be altered during consultation with different manufacturers of the equipment.
Correct Answer
Equipment
Your Answer
Equipment
Multiple Choice Single Answer
Question
Second bin quantity can be qualified by :-
Correct Answer
m + L x C
Your Answer
m + L x C
True/False
Question
Continuous stock-taking tends to dislocate the working of store.
Correct Answer
False
Your Answer
False
Multiple Choice Single Answer
Question
Redundant Stock is nothing but :-
Correct Answer
Worthless for conversion & other use
Your Answer
Worthless for conversion & other use
Multiple Choice Single Answer
Question
The cost incurred in providing adequate insurance cover to the materials in transit and in storage is
Correct Answer
Insurance cost
Your Answer
Insurance cost
Select The Blank
Question
Set-up cost for manufactured item in own plant is ________.
Correct Answer
Very high
Your Answer
Very high
Multiple Choice Single Answer
Question
The buying which is received in staggered lots, each lot at times may equal EOQ is :-
Correct Answer
Contract buying
Your Answer
Schedule buying
Multiple Choice Single Answer
Question
Price of the commodity is conditioned by the forces of supply and demand is :-
Correct Answer
Demand and supply condition
Your Answer
Demand and supply condition
Multiple Choice Single Answer
Question
The submission of the final offers by the prospective sources is :-
Correct Answer
Firm bidding
Your Answer
Firm bidding
Select The Blank
Question
________ of the department refers to the placement of the department in the structure of the company.
Correct Answer
Status
Your Answer
Size
Select The Blank
Question
Paper work cost is ________.
Correct Answer
Procurement cost
Your Answer
Procurement cost
True/False
Question
The trade discount is not allowed as a percentage of published price.
Correct Answer
False
Your Answer
False
Multiple Choice Multiple Answer
Question
What are the different methods of identifying materials?
Correct Answer
Tagging , Labeling , Engraving
Your Answer
Tagging , Labeling , Engraving
Multiple Choice Single Answer
Question
Prices of certain commodity may be fixed by the government and thereby putting a restriction on both buyer and seller is :-
Correct Answer
Government restrictions
Your Answer
Government restrictions
True/False
Question
Multiple sampling is an extension of the double sampling plan.
Correct Answer
True
Your Answer
True
Match The Following
Question
Correct Answer
Your Answer
Labour management relations
Investigating into suppliers capabilities
Investigating into suppliers capabilities
Technical discussions between the representatives of a buyer and supplier
Techno commercial discussion and trial order
Techno commercial discussion and trial order
Follow up with the supplier until sample submission
Sample validation
Sample validation
Type of supplier
Preliminary selection of the suppliers
Preliminary selection of the suppliers
Select The Blank
Question
Review system-optional replenishment is a modification of ________.
Correct Answer
Fixed-order interval system
Your Answer
Re-order level system
Multiple Choice Multiple Answer
Question
Costs involved in materials management are
Correct Answer
Basic cost of materials , Government tax and levies , Ordering cost
Your Answer
Basic cost of materials , Government tax and levies , Ordering cost
True/False
Question
Safety stock forms a fixed portion of inventories.
Correct Answer
True
Your Answer
True
True/False
Question
Maintenance and repair costs in used equipments are relatively higher.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
What are the areas of control to improve profit
Correct Answer
Increase units sold , Increase production , Reducing capital
Your Answer
Increase units sold , Increase production , Reducing capital
Multiple Choice Multiple Answer
Question
Main transport documents used by trade are :-
Correct Answer
RR , LR
Your Answer
RR , LR
Multiple Choice Single Answer
Question
Quantity based advance license is based on standard of :-
Correct Answer
Input-output norms fixed by ALC
Your Answer
Input-output norms fixed by ALC
Select The Blank
Question
Originating department of daily material receipt report is ________.
Correct Answer
Receiving store
Your Answer
Purchase department
Multiple Choice Multiple Answer
Question
What are the limitations of alpha betical system?
Correct Answer
Repetition of alphabets often leads to confusion and wrong identification , The selection of proper alphabets for each of the items is difficult. , The codes cannot be amplified which restricts its use to smaller firms
Your Answer
Repetition of alphabets often leads to confusion and wrong identification , The selection of proper alphabets for each of the items is difficult. , The codes cannot be amplified which restricts its use to smaller firms
True/False
Question
Small parcels, Samples, gifts which are received from other countries provisions of import policy & customs not applied on them.
Correct Answer
False
Your Answer
False
Select The Blank
Question
Malpractices are ________.
Correct Answer
Manipulations by stores staff
Your Answer
Common in all stores
True/False
Question
The registered firms are required to submit security deposit which is required from unregistered firms.
Correct Answer
False
Your Answer
False
Multiple Choice Single Answer
Question
In instantaneous replenishment system :-
Correct Answer
Item consumption demand rate is constant
Your Answer
Item consumption demand rate is constant
Multiple Choice Multiple Answer
Question
Store manager has to ensure security :-
Correct Answer
Of store buildings , Of stock yards
Your Answer
Of store buildings , Of stock yards , Of stores staff
Multiple Choice Single Answer
Question
The process of procurement of raw material, wip, finished goods, jigs, fixtures and other tools and equipments which are required for the operation and maintenance of a manufacturing plant is known as
Correct Answer
Purchasing
Your Answer
Purchasing
Multiple Choice Multiple Answer
Question
Receiving inspector should have to :-
Correct Answer
Segregate defectives , Maintain vendor wise quality records
Your Answer
Segregate defectives , Maintain vendor wise quality records
Multiple Choice Single Answer
Question
Identifying the need for source selection and source development is :-
Correct Answer
Source requirement stage
Your Answer
Source requirement stage
True/False
Question
Supplier's delivery ratings should be communicated on periodical basis.
Correct Answer
True
Your Answer
True
Match The Following
Question
Correct Answer
Your Answer
Vendor rating
Right source
Right source
Replenishment method
Right time
Right time
Competitive bidding
Right price
Right price
EOQ
Right quantity
Right quantity
Multiple Choice Single Answer
Question
EOQ means :-
Correct Answer
When total cost & right quantity are balanced
Your Answer
When total cost & right quantity are balanced
Multiple Choice Single Answer
Question
The cost incurred in movement of materials from suppliers works to buyer's works is
Correct Answer
Freight cost
Your Answer
Freight cost
Multiple Choice Multiple Answer
Question
Value analysis speaks about :-
Correct Answer
Cost improvement , Improvement in quality
Your Answer
Cost improvement , Improvement in quality
Multiple Choice Multiple Answer
Question
Advantages of fixed price agreements are :-
Correct Answer
They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations
Your Answer
They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations
Multiple Choice Multiple Answer
Question
Main information in the bill of material is :-
Correct Answer
Part no. , Material specification , Quantity per assembly
Your Answer
Part no. , Material specification
Select The Blank
Question
________ is responsible for purchase of goods of right quality, quantity, time, price and source.
Correct Answer
Purchase division
Your Answer
Purchase division
Multiple Choice Single Answer
Question
The system not only should identify and classify all the existing items and it should have enough extra unassigned codes to absorb future items is called as :-
Correct Answer
Flexibility
Your Answer
Flexibility
Multiple Choice Single Answer
Question
Purchasing today is no longer just a commercial activity but it is a techno commercial activity. This is known as :-
Correct Answer
Changing nature of purchases
Your Answer
Changing nature of purchases
True/False
Question
Black listing may be for a limited period or for an indefinite period.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
Actions involved in sample validation are :-
Correct Answer
Follow up with the supplier until sample submission , Sample inspection , Feedback on defects and defect prevention
Your Answer
Sample inspection , Sample rejection
Question
Good ________ relations are necessary for effective materials planning as every department is involved in materials planning because each department requires one item or other another.
Correct Answer
Departmental
Your Answer
Departmental
Multiple Choice Multiple Answer
Question
The following are the actions would help to improve effectiveness of materials planning :-
Correct Answer
Accurate forecasting , Computerization , Shorter materials plan period
Your Answer
Accurate forecasting , Computerization , Shorter materials plan period
Match The Following
Question
Correct Answer
Your Answer
JE
Journal Entries
Journal Entries
PO
Purchase order
Purchase order
GRN
Goods receipt note
Goods receipt note
DN
Discrepancy note.
Discrepancy note.
True/False
Question
Cancellation of orders on flimsy ground is unethical.
Correct Answer
True
Your Answer
True
Select The Blank
Question
Standardized containers eliminates ________
Correct Answer
Transit damage
Your Answer
Transit damage
Multiple Choice Single Answer
Question
Purchase order offers acceptance and have been clearly laid down in :-
Correct Answer
Indian Contract act 1872
Your Answer
Indian Contract act 1872
Multiple Choice Single Answer
Question
For the inspection of Stationery which department is responsible?
Correct Answer
Stores
Your Answer
Stores
Match The Following
Question
Correct Answer
Your Answer
FAS (4-2)
Sale at the port of destination
Sale at port of export
FOB (1-1)
Sale is made on FOB vessel
Sale is made on FOB vessel
CIF (2-4)
Sale is made at port of destination
Sale at the port of destination
CFR (3-3)
Sale at port of export
Sale is made at port of destination
Multiple Choice Single Answer
Question
Reprocessing of Scrap is :-
Correct Answer
Reclaiming for re-use
Your Answer
Reclaiming for re-use
Multiple Choice Single Answer
Question
Limit gauges are used to verify :-
Correct Answer
Whether the product is within the specification
Your Answer
Whether the product is within the specification
Multiple Choice Single Answer
Question
Which of the following is not the internal factor influencing materials planning?
Correct Answer
International market
Your Answer
International market
Multiple Choice Single Answer
Question
The system should be designed in such a way that it serves the advantages that are expected to accrue from it, is called as :-
Correct Answer
Objective oriented
Your Answer
Objective oriented
Multiple Choice Single Answer
Question
Real creative ideas results :-
Correct Answer
When members ventures into impossible areas
Your Answer
When opportunity is given to staff
Multiple Choice Multiple Answer
Question
Segregation of scrap means :-
Correct Answer
Sorting by type, size, grade etc. , Sorting by grade, weight
Your Answer
Sorting by type, size, grade etc. , Sorting by grade, weight
Select The Blank
Question
________clause should be inserted in the purchase order of items critical to project to induce supplier for early completion of the orders.
Correct Answer
Bonus
Your Answer
Penalty for delay
True/False
Question
Single tender system is used when there is only one supplier of the item.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
Following are benefits of scientific stoke management :-
Correct Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material
Your Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material
True/False
Question
Stores is the "Safe Custody" for keeping materials
Correct Answer
True
Your Answer
True
True/False
Question
Value analysis is the cost reduction technique.
Correct Answer
True
Your Answer
True
True/False
Question
Codification avoids confusion and doubt caused by long description of items.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
Complaints concerning should be made in such a way that negative reactions are avoided such as :-
Correct Answer
Delivery failures , Rejection , Shortages
Your Answer
Delivery failures , Rejection , Shortages
True/False
Question
A firm engaged in custom-built-product, is usually plagued with obsolete material.
Correct Answer
True
Your Answer
True
Select The Blank
Question
________ refers to the procurement of the requirements of all departments of the firm by a central purchase organization.
Correct Answer
Centralisation
Your Answer
Centralisation
Multiple Choice Multiple Answer
Question
Conventional machine set-up time includes :-
Correct Answer
Tool replenishment , First piece inspection
Your Answer
Tool replenishment , First piece inspection , Set-up
Multiple Choice Multiple Answer
Question
Stock-out is due to :-
Correct Answer
Unusual high demands , Delay in deliveries
Your Answer
Unusual high demands , Delay in deliveries , Machine break-down
True/False
Question
Negotiation should end up with an unhappy supplier.
Correct Answer
False
Your Answer
False
Select The Blank
Question
Systematic, formal and continuous analysis of all factors affect ________ management function is known as Materials research.
Correct Answer
Materials
Your Answer
Materials
True/False
Question
Since stock-taking is a check on storekeeper, it should not be conducted by him.
Correct Answer
False
Your Answer
False
Multiple Choice Multiple Answer
Question
Salient features of the working of the price panel are as under :-
Correct Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.
Your Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.
Multiple Choice Multiple Answer
Question
Application for an import license must be signed from :-
Correct Answer
Proprietor , Partner of firm , Person duly authorized by board of directors of company
Your Answer
Proprietor , Partner of firm , Person duly authorized by board of directors of company
True/False
Question
Manual inspection is economical when volume of output is small.
Correct Answer
True
Your Answer
True
Multiple Choice Multiple Answer
Question
For large organizations where product is made up of assemblies of manufactured components raw material store is subdivided into :-
Correct Answer
Foundry store , Tool crib , Maintenance store
Your Answer
Foundry store , Tool crib , Goods inward store
True/False
Question
Post parcel consignments are cleared through customs & clearance is done through foreign post office.
Correct Answer
True
Your Answer
True
Multiple Choice Single Answer
Question
What is the meaning of discharge of contract by novation?
Correct Answer
If the parties agree to substitute a new contract in place of existing one or alter it, original contract is discharged
Your Answer
If the parties agree to substitute a new contract in place of existing one or alter it, original contract is discharged
Select The Blank
Question
Quantity delivered of goods must be according to the ________.
Correct Answer
Terms of contract
Your Answer
Terms of contract
Multiple Choice Single Answer
Question
Which of the following is not the external factor influencing materials planning?
Correct Answer
Corporate objective
Your Answer
Corporate objective
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