Tuesday, 24 January 2017

Banking Questions Test-8 (MCQ)

                         Banking Questions Test- 8

Q1. The minimum period of deposit under this scheme is … financial year extendable by …… financial years at a time
  1. 5 and 5 years
  2. 5 and 10 years
  3. 10 and 5 years
  4. 15 and 5 years

Q2. The minimum deposit to be made in PPF account in a financial year is Rs 500  p.a and maximum deposit allowed in a financial year is ……..
  1. 50000
  2. 75000
  3. 100000
  4. 150000

Q3. What happens if the deposit in a FY exceeds Rs 1500000 in PPF account?
  1. The excess amount will not qualify as deposit to PPF and will be refunded without any interest
  2. The excess amount is not accepted by bank
  3. The excess amount is given interest for one time
  4. The excess amount will go to GOI

Q4.Which of the following can be permitted to open PPF account?
  1. HUF
  2. Individual in joint name
  3. Partnership firms
  4. None of above

Q5. The present rate of interest on the PPF deposit is …payable on the minimum balance between …. and ……. Of the month and will be credited at the end of the ……. Rounded off to nearest rupee
  1. Various from year to year, 5th and last day of month, year
  2. Same, 5th and last day of month, year
  3. Various from year to year, 1st and last day of month, year
  4. Same, 1st  and last day of month, year

Q6. In case of discontinuation of the account the account can be regularized on payment of fee of Rs 50 per the defaulted months and also minimum of Rs … for each year defaulted.
  1. 50
  2. 100
  3. 500
  4. No fine

Q7.  In what circumstances the account can be pre-closed?
a.    Only on death of depositor
b.    Any time
c.    Cannot be pre closed
d.    On transfer of account

Q8 When the account holder is allowed to withdraw during the currency of the deposit and what is the maximum amount?
  1. Allowed only after 5 years from the end of the year in which the account was opened, amount allowed to be withdrawn is 50% of the balance at the end of the immediately preceding 4th year from the year of withdrawal or at the end of the preceding 4th year from the year of withdrawal or at the end of the preceding year whichever is lower.
  2. Allowed only after 3 years from the end of the year in which the account was opened, amount allowed to be withdrawn is 50% of the balance at the end of the immediately preceding 4th year from the year of withdrawal or at the end of the preceding 4th year from the year of withdrawal or at the end of the preceding year whichever is lower.
  3.  Allowed only after 5 years from the end of the year in which the account was opened, amount allowed to be withdrawn is 90% of the balance at the end of the immediately preceding 4th year from the year of withdrawal or at the end of the preceding 4th year from the year of withdrawal or at the end of the preceding year whichever is lower.
  4. None of the above

Q9. If the PPF account is in joint names with a spouse, after the death of one of the account holder the account can be transferred in the name of ………
  1. Cannot be transferred
  2. Gets closed
  3. Spouse living
  4. PPF account in joint name not possible

Q10. The number of PPF account a person can open in the name of each of his minor child is

  1. Nil
  2. One
  3. Two
  4. Three
Answer-
1
2
3
4
5
6
7
8
9
10
d
d
a
D
a
c
a
a
a
C

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