As Zorg and I have pointed out, You really should verify with multimeter.
I would tend to think that the Bios reading is probably correct.
HOWEVER, as geofelt stated, measurement when in Bios is at a reduced loading. I would run ATI Tools, 3d view as this would place a heaver load on the +12V than testing the CPU using prime 95.
1. open up your program for viewing voltages. Connect your multimeter to molex connector Gnd/Rtn -> +12V. Compare Multimeter with software value. This will give you the Delta @ idle. Leaving the multimeter connected, start ATI Tools, 3d view, Monitor your multimeter and software values. You know have a delta for under load. If the multimeter reading drops below 11.5, then I would suspect your PSU, Then either 10 your PSU is poor quality, or 2) your PSU is not capable of suppling sufficent power on the +12 V Rail.
AS ZORG POINTED out research the PSU before you buy!.