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MCQs on APY (Atal Pension Yojana)

1. Atal Pension Yojana is a type of ____?

A) Guaranteed Pension Scheme

B) Self Invested Personal Pension (SIPP)

C) Additional Voluntary Contributions (AVC) Scheme

D) All of the above

 

2. Atal Pension Yojana (APY) Scheme Launched in the year:

 

          A) 2014        B) 2015       

          C) 2016         D) 2017

 

3. Who administers Atal Pension Yojana?

A) LIC

B) GIC Re

C) PFRDA

D) IRDAI

 

4. Where is the headquarter of PFRDA?

A) Mumbai

B) New Delhi

C) Lucknow

D) Kolkata

 

5. What is the minimum joining age for Atal Pension Yojana?

A) 10 years

B) 18 years

C) 20 years

D) 21 years

 

6. PFRDA Stands For

 

          A) Pension Functional Regulatory and Development Authority.

          B) Pension Fund Regulatory and Development Authority.

          C) Pension Fund Regulatory and Developing Authority.

          D) None of the Above.

 

7. What is the maximum joining age for Atal Pension Yojana?

A) 40 years

B) 55 years

C) 60 years

D) 70 years

 

8. What is the minimum pension benefit under APY?

A) Rs 1,000

B) Rs 2,000

C) Rs 3,000

D) Rs 5,000

 

9. What is the maximum pension benefit under APY?

A) Rs 3,000

B) Rs 4,000

C) Rs 5,000

D) Rs 10,000

 

10. Find the false statement with respect to Atal Pension Yojana

A) The contribution amount increases with the age of subscriber

B) Monthly Quarterly and half-yearly mode of contribution is available for subscribers.

C) NRI can apply for Atal Pension Yojana

D) All are true

 

11. What is the tax benefit under Atal Pension Yojana?

A) Rs 10,000

B) Rs 50,000

C) Rs 1,00,000

D) Rs 2,00,000

            

12. Under _____Section of the Income tax Act can be claimed for APY?

 

          A) 80 C

          B) 80CCD (1A)

          C) 80CCD (1B)

          D) None of the above.

 

13. Which of the following is necessary to apply for Atal Pension Yojana?

A) Aadhar Card

B) Saving Bank Account

C) Kisan Credit Card

D) Both A and B

 

14. How many types of Guaranteed Minimum pension available under APY?

 

          A) 3    B) 4    C) 5    D) 2

 

15. For how many years and for which years Government co contribute for those who joined between 1st June, 2015 to 31st March, 2016 in APY.

 

          A) 4 & 2015-16 to 2019-20

          B) 5 & 2015-16 to 2019-20

       C) 5 & 2016-17 to 2020-21

          D) None of the Above

 

              

16. PRAN Stands for

 

          A) Permanent Retirement Account Number

          B) Pension Retirement Account Number

          C) Permanent Referral Account Number

          D) None of the Above

 

17.  CRA Stands for

         

          A) Central Recordkeeping Agency

          B) Central Record Agency

          C) Central Recordkeeping Agent

          D) None of the above

 

18. Government Co contribution is subject to maximum of Rs ______per annum is credited for eligible beneficiaries

 

          A) 5000/-     B) 1000/-    C) 3000/-     D) 2000/-

 

19. If there is inadequate balance in the Savings Bank account for auto debit then one must pay default along with regular amount, then what is the default to pay?

 

          A) Rs. 1 per month for contribution of every Rs. 100

          B) Rs. 2 per month for contribution of every Rs. 100

          C) Rs. 2 per month for contribution of every Rs. 200

          D) none of the above.

 

20. After receiving APY Subscribers registration forms Counter PA has to do data entry in the finacle Menu:

 

          A) CPMI       B) IES         

C) CAPY       D) None of the Above.

 

21. What is the Major Head? When the amount of contribution is withdrawn by Postmaster from Savings Account of the customer as well as Govt. Contribution and remittance to PFRDA (Trustee Bank)

A) 8446(Postal Deposits)   B) 3201

          C) 1201                             D) 5201

 

22. What Is the Accounting Head? When the amount of Government Contribution received from PFRDA (Trustee Bank)

 

          A) 8446                           B) 3201

          C) 8661(Postal Suspense)  D) 1201

 

23. When the handling Charges/incentive etc. of DoP received from PFRDA (Trustee Bank) what is the accounting head?

 

          A) 8446                           B) 3201

          C) 1201(Postal Receipts)   D) 8661

 

24. For payment of Incentive to the staff of Department of Posts entrusted with the work of APY & other expenses relating thereto can be accounted in the Head.

 

          A) 3201 (Postal Services) B) 1201

          C) 8446                           D) 8661

 

                  

         

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