Public Financial Management System (PFMS)

JKSSB Panchayat Account Assistant · Accountancy & Finance · 198 practice questions with answers and explanations: 13 Easy, 173 Medium, 12 Hard.

Sample questions

Sample Easy question 1

PFMS is operated under the aegis of the:

  1. Reserve Bank of India (RBI), the central bank
  2. Comptroller and Auditor General of India (CAG)
  3. Office of Controller General of Accounts (CGA)
  4. NITI Aayog, the policy think tank of the Government
Show answer

Answer: C. PFMS is managed by the Office of the Controller General of Accounts (CGA), Department of Expenditure, Ministry of Finance.

Sample Medium question 2

What is 'Reconciliation' in PFMS accounting functions?

  1. Resolving political disputes
  2. Comparing tax rates with foreign countries
  3. Matching transaction figures reported in PAO accounts with actual bank scroll receipts from RBI/Accredited Banks
  4. Calculating stock dividends
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Answer: C. Reconciliation ensures accounting records perfectly match bank transaction scrolls.

Sample Hard question 3

For Aadhaar-based DBT payments through PFMS, the beneficiary's Aadhaar-linked bank account is identified through the:

  1. NPCI mapper
  2. SWIFT network
  3. RBI currency chest
  4. CIBIL database
Show answer

Answer: A. The NPCI mapper links an Aadhaar number to the bank account where DBT should be credited.

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