FIA Past Papers MCQs

FIA Superintedent Model Paper 2026  — 500 MCQs  (Page 24 of 50)

Practice FIA Past Papers MCQs with solved questions from real past exams. These MCQs cover FIA Superintedent Model Paper 2026 past papers and are ideal for candidates preparing for competitive exams.

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Delegation of financial powers by the PAO to subordinate officers under Regulation 13:
  • Transfers full accountability to the delegatee
  • Does not diminish the PAO's responsibility and accountability for oversight
  • Is limited to heads of departments only
  • Requires prior approval of Finance Division
Under Regulation 14(a), read with section 23 of the PFM Act, no expenditure shall be incurred until sanctioned by a competent authority AND provided for through:
  • Schedule of authorized expenditure, supplementary or technical supplementary grant, or re-appropriation
  • Approval of the Finance Division only
  • Approval of the PAC
  • Release from the Planning Commission
Under Regulation 14(b) read with section 11 of the PFM Act, the PAO may approve re-appropriation within the same grant by:
  • 15th June each year
  • 30th June each year
  • 31st March each year
  • 31st May each year
All anticipated savings in grants must be surrendered to the Finance Division by:
  • 31st May each year
  • 15th May each year
  • 31st March each year
  • 30th June each year
Under Regulation 14(c), a request for supplementary budget may not be entertained for an expenditure head:
  • Below Rs. 10 million
  • Relating to development expenditure
  • From which funds have been re-appropriated during the year
  • Relating to employee related expenses
Under Regulation 14(f), the PAO has authority to procure goods and services as per the provisions prescribed under the:
  • Public Finance Management Act, 2019 section 23
  • General Financial Rules
  • Rules of Business, 1973
  • Public Procurement Regulatory Authority Ordinance, 2002 and rules made thereunder
Under Regulation 15, the Finance Division carries out functions under the Constitution, the PFM Act and the:
  • Controller General of Accounts Ordinance, 2001
  • Fiscal Responsibility and Debt Limitation Act, 2005
  • Auditor-General Ordinance, 2001
  • Public Debt Act, 1944
Prior consultation with the Finance Division is mandatory while initiating legislative proposals having financial implications relating to:
  • Criminal procedure
  • Establishment of funds, revenue, cess, levy, fee, deductions, remissions and agreements
  • Service structure only
  • Electoral matters
The Finance Division issues to the PAO:
  • Single-line medium-term indicative budget ceilings
  • Quarterly releases only
  • Item-wise annual budget allocations
  • Development budget ceilings only
On proposals for supplementary or technical supplementary grant, the Finance Division provides its opinion to the:
  • National Assembly
  • ECNEC
  • Public Accounts Committee
  • Economic Coordination Committee of Cabinet or Federal Cabinet