SSC CGL Finance – Comptroller & Auditor General of India – Level 3 · Challenge

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SSC CGL Finance – Comptroller & Auditor General of India – Level 3 · Challenge – 8 questions, subject: Finance & Economics (Tier II Paper III). Every question has the correct answer with a one-line explanation; tap "Show Answer". Free practice for TNPSC, UPSC, SSC, Bank and RRB exams – Shanmugam IAS Academy, Coimbatore.

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1.  
A (fictional) CAG born on 30 June 1965 assumes office on 15 January 2026. His term (no resignation) ends on:

Correct Answer: C [30 June 2030]

Explanation:

Age 65 on 30 June 2030 comes before 6 years (15 Jan 2032).

2.  
If the same person were born on 30 June 1968, his term would end on:

Correct Answer: A [15 January 2032]

Explanation:

6 years (15 Jan 2032) comes before age 65 (30 June 2033).

3.  
Statement-basedUnder the DPC Act, 1971,
I. Section 16 deals with audit of receipts.
II. Section 17 deals with audit of stores and stock.
III. Section 20 allows audit of other bodies on request of the President or Governor.
Which are correct?

Correct Answer: D [I, II and III]

Explanation:

All three match the India Code text.

4.  
True/false countHow many of these are safeguards of the CAG's independence?
(i) removal only like an SC judge (ii) office expenses charged on CFI (iii) eligibility to become a Union Minister after retirement (iv) conditions of service not varied to his disadvantage (v) salary equal to an SC judge

Correct Answer: B [4]

Explanation:

(iii) is false – Art. 148(4) bars further office; the other four are safeguards.

5.  
A society receives ₹ 1.2 crore of Union grants, which is 60% of its expenditure. The CAG may audit it under:

Correct Answer: C [s. 14(2), with prior approval (grants of ₹ 1 crore or more)]

Explanation:

75% test fails, but the ₹ 1 crore route of s.

6.  
The ₹ 25 lakh limit in s. 14 replaced an earlier limit of:

Correct Answer: A [₹ 5 lakh]

Explanation:

Raised from ₹ 5 lakh by the amendment of 1984 (Act 2 of 1984).

7.  
Under the Companies Act, 2013, the statutory auditor of a Government company is appointed by the:

Correct Answer: A [CAG]

Explanation:

Answer: CAG. s. 139(5).

8.  
Which pair is NOT correctly matched?

Correct Answer: B [Estimates Committee – 15 Lok Sabha + 7 Rajya Sabha members]

Explanation:

The Estimates Committee has 30 members, all from Lok Sabha.

➤ Full notes, shortcuts and every answer explained – SSC CGL 2026 Finance & Economics (Tier II Paper III) book (₹149): www.shanmugamiasacademy.in/study-materials/ssc-cgl-finance-economics

📘 SSC CGL 2026 – General Studies – Finance & Economics (Tier II Paper III)
Here you get the answer with a one-line explanation. 1,064 original questions with worked answers · Part A Finance & Accounts and Part B Economics & Governance notes · practice sets + 3 mock tests
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