Thursday, September 24, 2009

Material Management - 10

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Select The Blank

  Question        Conformance to ________ is checked against component drawings.

  Correct Answer        Dimensions

  Your Answer     Dimensions

 

 

 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     MRO inventories

 

 

 True/False

  Question        Import substitution in reality should be looked upon as "Import avoidance"

  Correct Answer        True

  Your Answer     True

 

 

 True/False

  Question        Deterioration & Obsolescence cost are similar.

  Correct Answer        False

  Your Answer     True

 

 

 Select The Blank

  Question        Customs duty is charged on the imported goods as per ________.

  Correct Answer        Customs tariff rules

  Your Answer     Customs tariff rules

 

 

 Multiple Choice Multiple Answer

  Question        In a contract buyer has right to :-

  Correct Answer        Examine the goods , Reject the goods delivered in wrong quantity , Reject non conforming goods

  Your Answer     Examine the goods , Reject the goods delivered in wrong quantity , Sue for interest of buyer

 

 

 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     Location

 

 

 True/False

  Question        Purchasing policies are implemented by framing procedures and rules.

  Correct Answer        True

  Your Answer     True

 

 

 True/False

  Question        Black bituminous paint should be applied to rubber parts.

  Correct Answer        False

  Your Answer     False

 

 

 Multiple Choice Single Answer

  Question        Pending purchases indent report :-

  Correct Answer        Highlights indents yet to be converted in to purchase-orders

  Your Answer     Highlights indents yet to be converted in to purchase-orders

 

 

 Multiple Choice Multiple Answer

  Question        Correct issues must have :-

  Correct Answer        Written requisitions , Authorized requisitions

  Your Answer     Written requisitions , Authorized requisitions , Name of requisitor

 

 

 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 , Increase in lead time

 

 

 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        OEM discount is given by the supplier with a view to widen customer's base.

  Correct Answer        True

  Your Answer     False

 

 

 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 Multiple Answer

  Question        Purchasing and procurement cost reduction is possible through :-

  Correct Answer        Blanket orders , Green purchasing , System contracting

  Your Answer     Blanket orders , Green purchasing , System contracting

 

 

 Select The Blank

  Question        ________ department in almost all companies is the biggest spending department and the custodian of company's purse.

  Correct Answer        Purchasing

  Your Answer     Purchasing

 

 

 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        ________ is a complex combination of men, machines, materials and tools.

  Correct Answer        Manufacturing

  Your Answer     Operation

 

 

 Multiple Choice Single Answer

  Question        What is the meaning of storekeeping?

  Correct Answer        Physical storage of goods under custodianship in a systematic manner

  Your Answer     Physical storage of goods under custodianship in a systematic manner

 

 

 True/False

  Question        Value analysis is the cost reduction technique.

  Correct Answer        True

  Your Answer     True

 

 

 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     Improprieties of bids

 

 

 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.

 

 

 

 Multiple Choice Single Answer

  Question        Traffic division is concerned with :-

  Correct Answer        Arrangement of eco. Transportation of incoming and outgoing materials

  Your Answer     Arrangement of eco. Transportation of incoming and outgoing materials

 

 

 Multiple Choice Single Answer

  Question        Issue of stock is :-

  Correct Answer        Process of reacting by stores

  Your Answer     Process of reacting by stores

 

 

 True/False

  Question        Cancellation of orders on flimsy ground is unethical.

  Correct Answer        True

  Your Answer     True

 

 

 Select The Blank

  Question        Systematic ________of stores is the key to its efficient operation.

  Correct Answer        Layout

  Your Answer     Layout

 

 

 Multiple Choice Single Answer

  Question        Foreign trade is controlled by Government for :-

  Correct Answer        Promoting export &controlling import

  Your Answer     Promoting export &controlling import

 

 

 Multiple Choice Multiple Answer

  Question        In review system-optional replenishment :-

  Correct Answer        Reorder level is fixed , Review period is fixed

  Your Answer     Review period is fixed , Reorder level is fixed

 

 

 Multiple Choice Multiple Answer

  Question        The receiving stores copy is used by it :-

  Correct Answer        To ensure that supplier effects supply of only items ordered on him. , To ensure that supplier does not supply more than the quantity stipulated in the purchase order. , To ensure that the supplier effect deliveries through the mode of transport asked for by the buyer.

  Your Answer     To ensure that supplier does not supply more than the quantity stipulated in the purchase order.

 

 

 True/False

  Question        A company wishing to use preferred numbers must decide first the smallest size to be made, then largest size to be made and then the total no. of sizes to be made.

  Correct Answer        True

  Your Answer     False

 

 

 Multiple Choice Single Answer

  Question        Finished goods means :-

  Correct Answer        Goods which are ready to ship

  Your Answer     Goods which are ready to ship

 

 

 True/False

  Question        JIT purchasing is indirectly the activity of pushing inventory on the suppliers.

  Correct Answer        True

  Your Answer     True

 

 

 Multiple Choice Multiple Answer

  Question        Quantity discounts are offered when :-

  Correct Answer        Buyer tempts to produce large quantity , Production is higher & cost is less

  Your Answer     Buyer tempts to produce large quantity , Production is higher & cost is less

 

 

 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

 

 

 Select The Blank

  Question        Originating department of daily material receipt report is ________.

  Correct Answer        Receiving store

  Your Answer     Receiving store

 

 

 Select The Blank

  Question        ________ is the arrangement of items into groups according to a pre determined pattern.

  Correct Answer        Classification

  Your Answer     Classification

 

 

 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 , Quantity per assembly

 

 

 Match The Following

Question    Correct Answer    Your Answer

 

LC    Labour cost as considered at the time of contract     Labour cost as considered at the time of contract

 

MA    Actual material cost as on date.    Actual material cost as on date.

 

MC    Material cost as considered at the time of contract   Material cost as considered at the time of contract

 

LA    Actual labour cost as on date Actual labour cost as on date

 

 

 

 Multiple Choice Single Answer

  Question        Heat is :-

  Correct Answer        An physical agent

  Your Answer     An physical agent

 

 

 Multiple Choice Single Answer

  Question        A formal request to the purchase department, by the indentor to procure the items mentioned therein and within the indicated time schedule is :-

  Correct Answer        Purchase indent

  Your Answer     Purchase indent

 

 

 True/False

  Question        Coal and coke gas used for power generation and process heating are direct materials.

  Correct Answer        False

  Your Answer     True

 

 

 Select The Blank

  Question        In a contract of sale by description the goods sold must be of ________ quality.

  Correct Answer        Merchantable

  Your Answer     Merchantable

 

 

 True/False

  Question        Annual total cost remain constant though stock-turn over rate changes.

  Correct Answer        False

  Your Answer     False

 

 

 Multiple Choice Multiple Answer

  Question        Obsolescence cost is :-

  Correct Answer        Due stock on hand , Part No. / Name

  Your Answer     Due stock on hand , Cause of the event , Number of turns

 

 

 True/False

  Question        Single tender system is used when there is only one supplier of the item.

  Correct Answer        True

  Your Answer     True

 

 

 Select The Blank

  Question        In traditional purchasing, quality is confirmed ________.

  Correct Answer        On receipt

  Your Answer     On receipt

 

 

 

 

 

 

 

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