Multiple Choice Questions (MCQs) On Banking and Remittances | MIS,SCSS & PPF
1. An individual can invest maximum INR
____ in MIS including his share in joint accounts.
|
A) |
9 Lakhs |
|
|
|
B) |
4.5 Lakhs |
|
C) |
6.75 Lakhs |
|
|
D) |
None of these |
2. MIS Account shall be opened with a
minimum deposit of one thousand rupees or any sum in multiple of one thousand
rupees and there shall be______ deposit in an account.
|
|
A) |
One |
|
B) |
Multiple |
|
|
C) |
None of these |
|
|
D) |
upto two allowed |
3. MIS Account Can be prematurely
en-cashed after one year but before Three years at the discount of ____ of the
deposit
|
A) |
1% |
|
|
B) |
1.5% |
|
|
|
C) |
2% |
|
D) |
None of these |
4. No bonus in MIS is payable on the
deposits made on or after ______
|
|
A) |
01.12.2011 |
|
B) |
01.04.2011 |
|
|
C) |
01.09.2011 |
|
|
D) |
01.06.2011 |
5. MIS Interest shall be payable to the account holder on compl
etion of_______|
A) |
A Month in which account opened |
|
|
|
B) |
A month from the
date of deposit |
|
C) |
A Month followed by a Month in
which Account Opened |
|
|
D) |
None of these |
6. An individual of the age of 55 years
or more but less than 60 years who has retired on superannuation or under VRS
can also open account subject to the condition that the account is opened
within________ month of receipt of retirement benefits and amount should not
exceed the amount of retirement benefits
|
A) |
Three Months |
|
|
|
B) |
One Month |
|
C) |
Two Months |
|
|
D) |
Four Months |
7. A retired personnel of Defence
Services (excluding Civilian Defence employees) shall be eligible to open an
account under the SCSS Scheme on attaining the age of _______ years subject to
the fulfilment of other specified conditions
|
A) |
60 Years |
|
|
B) |
55 Years |
|
|
|
C) |
50 years |
|
D) |
None of these |
8. In case of SCSS accounts, quarterly
interest shall be payable on______
|
A) |
Payable from the date of
deposit of 31st March/30th Sept/31st December |
|
|
B) |
Payable on 31st March, 30th
June, 30th Sept and 31st December |
|
|
|
C) |
Payable on 1st
working day of April, July, October and January |
|
D) |
None of these |
9. If SCSS Account is closed
prematurely within one year, then what is the interest payable ?
|
A) |
No Interest |
|
|
B) |
POSB Rate of Interest |
|
|
C) |
Deduction of an amount equal
to1.5% of the deposit to be deducted from already paid interest |
|
|
|
D) |
No interest, if paid already will be recovered. |
10. In SCSS Account, after maturity,
the account can be extended for further________years within one year of the
maturity by giving application in prescribed format. In such cases, account can
be closed at any time after expiry of _______ year of extension without any
deduction.
|
|
A) |
Three Years &
One Year |
|
B) |
One Year & Three Years |
|
|
C) |
Three Years & Two Years |
|
|
D) |
Five Years & One Year |
11. ln case of death of the depositor
happened before 2 years, the account shall be closed and deposit refunded along
with interest at the rate of _________ till date of death and at the rate of
______ till the date of final closure of the account.
|
|
A) |
SCSS & POSB |
|
B) |
SCSS & SCSS |
|
|
C) |
SCSS & SCSS with deduction
of 1.5 % in deposit |
|
|
D) |
SCSS with deduction of 1.5 % in deposit & POSB |
12. IN SCSS TDS is deducted at source
on interest if the interest amount is more than INR ______- p.a
|
A) |
25,000 |
|
|
|
B) |
50,000 |
|
C) |
1,00,000 |
|
|
D) |
10,000 |
13. PPF Account can be opened with
Rs_____ & Subsequent deposit in multiples of Rs_____
|
A) |
500 & 100 |
|
|
|
B) |
500 & 50 |
|
C) |
500 & 10 |
|
|
D) |
1000 & 100 |
14. Any PPF account in which the
account holder, having deposited five hundred rupees in the initial year, fails
to deposit the minimum amount in the following years, shall be treated as
________.
|
A) |
Closed |
|
|
|
B) |
Discontinued |
|
C) |
Freezed |
|
|
D) |
Dormant |
15. PPF Account Can be opened by
|
A) |
Jointly with (Maximum 2 adults) |
|
|
B) |
Minor above 10 years of age |
|
|
|
C) |
Joint account
cannot be opened and only one account can be opened by a citizen in India |
|
D) |
All the above |
16. PPF Account Maturity period is
_______ years but the same can be extended within one year of maturity for
further _____ years and so on.
|
A) |
5 & 5 |
|
|
B) |
15 & 3 |
|
|
|
C) |
15 & 5 |
|
D) |
15 & 2 |
17. PPF Premature closure can be
allowed after ______ years from the end of the year in which the account was
opened subject to some conditions. & _______ % of interest will be deducted
from the date of account opening.
|
A) |
5 & 2 |
|
|
|
B) |
5 & 1 |
|
C) |
6 & 1 |
|
|
D) |
6 & 2 |
18. Can PPF be attached with Court
decree order?
|
A) |
Yes It can be |
|
|
|
B) |
No It cannot be |
|
C) |
Yes On Accrued Amount Only |
|
|
D) |
Not on Accrued amount but can be on Interest Earned |
19. The PPF account can be opened in
|
A) |
Only at HOs & Sub offices
with Class A status |
|
|
B) |
Only at HOs & Sub offices
up to B Class Offices |
|
|
|
C) |
In All
Departmental Offices |
|
D) |
None of these |
20. PPF Withdrawal can be taken after
the expiry of ________ years from the end of the year in which the account was
opened.
|
A) |
Three |
|
|
B) |
Four |
|
|
|
C) |
Five |
|
D) |
Seven |
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