MCQs On PMSBY - Postalstudy | Post Office Blog | Materials for | Exams

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1. PMSBY is a _____

A) Life insurance scheme

B) Accidental insurance scheme

C) Pension guarantee scheme

D) All of these

2. What is the maximum age at which a person can enroll in PMSBY?

A) 50

B) 55

C) 60

D) 70

3. What is the premium per annum that is to be paid under PMSBY?

A) Rs 6

B) Rs 12

C) Rs 100

D) Rs 330

4. What is the Termination period of PMSBY?

A) When a person attains 70 years of age

B) When a person attains 80 years of age

C) When a person attains 90 years of age

D) No termination

5. What is the death benefit under PMSBY?

A) Rs 2 lakh

B) Rs 1 lakh

C) Rs 3 lakh

D) Rs 4 lakh

6. What is the benefit under PMSBY for loss/disability for both the organs (either both hands/legs or eye)?

A) Rs 1 lakh

B) Rs 2 lakh

C) Rs 50,000

D) Rs 4 lakh

7. What is the benefit under PMSBY for loss/disability of one organ (either one hands/legs or eye)?

A) Rs 50,000

B) Rs 1 lakh

C) Rs 2 lakh

D) Rs 1.5 lakh

8. Which of the following condition will be not covered under PMSBY?

A) Death due to rail accident

B) Death due to electric mis-happening

C) Death due to suicide

D) Death due to Murder

9. A person having which type of account can opt for PMSBY?

A) Saving Account

B) Current Account

C) Fixed Deposit Account

D) Any one of these

10. The coverage period of PMSBY in a year is ____ ?

A) 1 April to 31 March

B) 1 January to 31 December

C) 1 June to 31 May

D) 1 July to 30 June

11. PMSBY was formally launched by Prime Minister Narendra Modi in Kolkata on

(A) 1 June 2015

(B) 9 May 2015

(C) 26 January 2016

(D) 15 August 2014

12. PMSBY is available to people between the age group of ----------

(A) 18-60 years

(B) 21-55 years

(C) 21-70 years

(D) 18-70 years


13. Which of the following is true about PMSBY

(A) The scheme will be a one year cover, renewable from year to year

(B) All savings bank account holders in the age 18 to 70 years in participating banks will be entitled to join

(C) Aadhar would be the primary KYC for the bank account.

(D) All the above 

14. Who is the Master Policy holder on behalf of the participating subscribers?

          A) Department of Post or Participating Banks

          B) Life Insurance Corporation of India

          C) National India Insurance

          D) None of the Above

15. Department of Posts is giving PMSBY Service through which Insurance company:

          A) National Insurance Company

          B) Life Insurance Corporation

          C) Oriental Insurance

          D) None of the above

16. GDS BPM has to prepare a list of collected forms of PMSBY in ____ forms daily in the given format before sending to Account office.

          A) Triplicate

          B) Duplicate

          C) Quadruplicate

          D) None of the Above

17. Counter PA has to verify Signatures of Account holders of forms collected in which finacle menu.

          A) CTM                   B) IES                    C) CPMY        D) HACLI

18. Counter PA has to do data entry of forms collected in which menu of Finacle.

          A) IES           B) CPMY       C) CMRC       D) HACLI

19. Which finacle menu is used to modify the CIF ID.

          A) CPMY       B) CMRC       C) CCRC                  D) IES

20. Is Nomination Mandatory for PMSBY ?

          A) Yes          B) No           C) Optional    D) None of the above

21. Appropriation of Premium:

1) Insurance Premium to Insurance Company: Rs.10/- per annum per member

2) Reimbursement of Expenses to BC/Micro/Corporate/Agent : Rs.1/- per annum per member

3) Reimbursement of Administrative expenses to participating Bank: Rs.1/- pa per member

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