Questions & Answers on the topic of Savings Bank & GSPR 2018 -9
Compiled by Com A.Kesavan, AGS, AIPEU Group C & Head Tutor
161. Who can open an NSC – VIII Issue account jointly?
A) Two adults B) Three adults C) Three adults [Joint –Aor B] D) Any number of adults
Answer: C) By 3 adults [ Joint –Aor B]
Compiled by Com A.Kesavan, AGS, AIPEU Group C & Head Tutor
161. Who can open an NSC – VIII Issue account jointly?
A) Two adults B) Three adults C) Three adults [Joint –Aor B] D) Any number of adults
Answer: C) By 3 adults [ Joint –Aor B]
162. For investment through SAS Agents, if the investment is above Rs. 20,000/-, what is the required mode of investment?
A) Cash B) Cheque only C) Demand Draft D) Any electronic mode
Answer: B) Only by Investor’s Cheque
163. When can NSC/KVP premature encashment be allowed (apart from death or court order)?
A) On request by the holder B) On forfeiture by a pledgee being Gazetted Government Officer when the pledge is in conformity with these rules C) After 1 year from opening D) After 3 years from opening
Answer: B) On forfeiture by a pledgee being Gazetted Government Officer when the pledge is in conformity with these rules
164. If an NSC is closed based on certain conditions (e.g., death, forfeiture) between 1 year and 3 years, what interest rate is applied?
A) Principal only B) Principal amount + Interest @ POSB rates C) Full NSC interest rate D) No interest
Answer: B) Principal amount + Int. @ POSB rates
165. What is the fee for transferring a certificate from one person to another?
A) Rs. 50 B) Rs. 100 C) Nil D) Rs. 20
Answer: C) Nil
166. Where should the process of transferring a certificate from one person to another be done?
A) Any Sub Post Office B) Head Offices only C) Divisional Office D) Circle Office
Answer: B) Head Offices only
167. For claims with nomination, what is the time limit for settlement?
A) 7 working days B) 1 day C) 15 working days D) 30 working days
Answer: B) 1 day
168. What is a "Probate of will"?
A) A legal document issued by the Court B) A copy of will, certified under seal of Court of competent jurisdiction C) A certificate issued by Civil Court to Legal Heirs D) A certificate issued by the Tahsildar
Answer: B) A copy of will, certified under seal of Court of competent jurisdiction
169. How is payment made for claims with legal evidence?
A) Cash only B) By crossed cheque/ SB credit irrespective of amount C) Only up to Rs. 20,000 in cash D) By demand draft only
Answer: B) By crossed cheque/ SB credit irrespective of amount
170. What is the claim sanction limit for Sub Post Masters of Time Scale Departmental SOs?
A) Rs. 20,000 B) Rs. 50,000 C) Rs. 1,00,000 D) Rs. 5,00,000
Answer: B) Rs. 50,000
171. What is the claim sanction limit for Senior Post Masters/ Deputy Chief Post Masters / Superintendent of Post offices / Dy Superintendent of Post offices (All Gazetted Group-B HPOs and Divisions)?
A) Rs. 50,000 B) Rs. 1,00,000 C) Rs. 5,00,000 D) Rs. 10,00,000
Answer: C) Rs. 5,00,000
172. What is considered for the purpose of the claim sanction limit?
A) The amount as on the date of death of the depositor including interest up to the previous financial year B) The principal amount only C) The amount as on the date of claim submission D) The amount excluding interest
Answer: A) The amount as on the date of death of the depositor including interest up to previous financial year
173. Is a separate account closure form required when the receipt of the amount is taken on the sanction issued on the claim form itself?
A) Yes B) No C) Only if the amount is large D) Only for minor accounts
Answer: B) No separate account closure form is required
174. For a Savings Bank (SB) account, up to which month is interest eligible when a refund is made?
A) Up to the month of refund B) Up to the month preceding the month in which refund is made C) For completed years only D) No interest after death
Answer: B) Up to the month preceding the month in which refund is made
175. What is the commission rate for MPKBY agents?
A) 0.5 % B) 1% C) 2% D) 4%
Answer: D) 4%
176. When did PRSS agents stop receiving commission?
A) 01.01.2016 B) 01.10.2016 C) 01.01.2017 D) 01.10.2017
Answer: B) 01.10.2016
177. For which risk category are PAN card and Source of income required documents?
A) Low Risk B) Medium Risk C) High Risk D) All categories
Answer: C) High Risk
178. What are the required documents for a Medium Risk category account with an initial deposit?
A) ID Proof, Address Proof B) ID Proof, Address Proof, PAN card C) ID Proof, Address Proof, PAN card, Source of income D) Only ID Proof
Answer: B) ID Proof, Address Proof, PAN card
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