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31 May 2012

128 MODEL QUESTIONS(POSB MANUAL VOL I) FOR PS GP B, IPO & PM GRADE 1 EXAM



(POSB MANUAL VOLUME I QN 1-128)



1.         What is the current rate of interest on saving accounts?

            a)         3.5%                                       b)         4%
            c)         8%                                          d)         8.2 %                                                  Ans:b

2.         The revised rate of interest @4% on saving accounts wef

            a)         01 Oct 2011                           b)         01 Dec 2011
            c)         01 Nov 2011                         d)         01 Jan 2012                                      Ans:b

3.         How many Single saving accounts may be opened by an adult in his own name in any one post office?

            a)         Only one                                b)         Only Two
            c)         No such limit                         d)         None of these                                   Ans:a(4)

4.         How many adult may open a joint saving account?

            a)         Two                                         b)         Three
            c)         Two or three                          d)         None of these                                   Ans:c


5.         What is the minimum age for opening a single saving account by a minor himself in his name?

            a)         10 years                                 b)         14 years
            c)         18 years                                 d)         No min age limit                               Ans:a

6.         How many saving accounts can be opened by a guardian on behalf of a minor?
           
a)                 Only one account can be opened on behalf of one minor by one guardian i.e either mother or father
b)                 Only two account can be opened on behalf of one minor by both the father and mother
c)                  No min limit
d)                 None of these                                                                                               Ans:a

7.         What is the fee for making nomination in a saving accounts first time

            a)         Rs 1/-                                      b)         Rs 2/-
            c)         Rs 3/-                                      d)         Free                                                    Ans:d

8.         What is the fee for getting the nomination altered in a savings account

            a)         Rs 1/-                                      b)         Rs 2/-
            c)         Rs 3/-                                      d)         Rs 5/-                                                  Ans:a

9.         In what manner  fee for getting the nomination cancelled in a Savings account is to be paid?

            a)         In shape of cash                 
b)         By deposit to UCR
            c)         In shape of stamp affixed on the application
            d)         None of these                                                                                               Ans:c


10.       How many times withdrawal can be made from a savings account standing at BO in a day?

            a)         Two times only                     b)         Only once
            c)         Any number of times           d)         None of these                                   Ans:b

11.       How many times withdrawal can be made from a savings account standing at SO/HO in a day?

            a)         Two times only                     b)         Only once
            c)         Any number of times           d)         None of these                                   Ans:c

12.       Up to what amount payment order for withdrawal from saving account may be sanctioned by a branch postmaster?

            a)         Rs 500/-                                 b)         Rs 2500/-
            c)         Rs 5000/-                               d)         Rs 10000/-                                         Ans:c

13.       What is minimum balance should remain in a savings account without cheque account  after withdrawal?

            a)         Rs 50/-                                   b)         Rs 500/-
            c)         Rs 1000/-                               d)         Rs 100/-                                             Ans:a

14.       What is minimum balance should remain in a savings account with cheque book after withdrawal?

            a)         Rs 50/-                                   b)         Rs 500/-
            c)         Rs 1000/-                               d)         Rs 100/-                                             Ans:b

15.       Whether  nomination facility is available in savings account opened in the name of a minor by his guardian?

            a)         Yes                                         b)         No
            c)         Cannot say                           d)         None of these                                   Ans:b

16.       Mark the correct option

a)                 Minor cannot appoint a messenger for making withdrawal from SB account
b)                 At the time of making a withdrawal by cheque from saving account not necessary to provide  pass book
c)                  The amount annual interest added in a saving account may not be treated as transaction in that account
d)         All the above                                                                                                 Ans:d

17.       What is minimum amount may be withdrawn by a cheque from a cheque saving account?

            a)         Rs 500/-                                 b)         Rs 100/-        
            c)         Rs 100/-                                 d)         Rs 20/-                                               Ans:d



18.         After how many consecutive years without any transaction a saving account is treated as silent account?

            a)         2 years                                   b)         3 years
            c)         4 years                                   d)         5 years                                               Ans:b

19.       What is the fee for issue of duplicate passbook in saving account?

            a)         Rs 20/-                                   b)         Rs 10/-
            c)         Rs 5/-                                      d)         Free                                                    Ans:b

20.       In what manner  the fee for issue of duplicate pass book of savings account is paid by the depositor?

a)                 By cash                     
b)                 By crediting to UCR
c)                  Postage stamp equal to the value of the fee to be affixed on the application
d)                 Through ACG 67                                                                                         Ans:c

21.       Which office issue duplicate passbook  of a saving accounts is paid by the depositor?

            a)         Head  Office                                      b)         SO
            c)         The same SO where A/c Stands   d)         None of these                       Ans:c

22.       What is the fee for transfer of saving account from one post office to another post office?

            a)         Rs 5/-                                                  b)         Rs 10/-
            c)         Rs 1/- shape of postage                  d)         Free                                        Ans:d

23.       Mark the correct option

a)                 The final withdrawal in saving account made through SB 7 only
b)                 In joint B saving accounts at the time of transfer and closing all the account holder’s signature is required.
c)                  Saving account of deceased depositor can not be transferred from one post office to another post office
d)                 All the above                                                                                                 Ans:d

24.       How many persons can be nominated by the depositor of a savings account?

            a)         Only one persons                            b)         Two persons only
            c)         Any number of person                    d)         None of these                       Ans:c

25.       What is the maximum balance may be deposited to Single/ Joint account

            a)         1 lac/2 lac                                          b)         2lac/3 lac
            c)         No maximum limit                            d)         None of these                       Ans:c

26.       No maximum limit on saving bank  accounts from

            a)         01 Oct 2011                                       b)         01 Dec 2011
            c)         01 Jan 2012                                      d)         None of these                       Ans:a

27.       Interest earned is Tax free u to Rs

            a)         5000/-                                                 b)         3000
            c)         2500/-                                                 d)         3500/-                                     Ans:d

28.       Mark the incorrect option

a)                 Single account  can be converted into Joint and Vice versa
b)                 Minor after attaining majority has to apply for conversion of the account in his name
c)                  If minor attaining majority the account can be closed by guardian
d)                 None of these                                                                                               Ans:c

29.       If the account opened with initial deposit exceeding Rs 50000/- _____ is mandatory

            a)         Pan Card photocopy                       b)         Declaration in form 60/61
            c)         Both the above                                 d)         Either A or B                         Ans:d

30.       Mark the correct option

a)                 A pensioner of any central or state Govt whom dept of post has signed an agreement for disbursement of pension can open either single or joint with spouse account.
b)                 Sanchayika accounts can be opened in the name of the principal/teacher and two students not less than 10 year of age
c)                  Minor account can be opened by a person  under the law in force from time to time as guardian when father and mother both are not alive
d)                 All the above                                                                                                 Ans:d

31.       Mark correct option relating to worker wage accounts

a)                 A single account may be opened by any of the registered adult of a house hold whose name is mentioned in the job card.
b)                 A joint account can be opened in the name of husband and wife provided that names of both are registered in the job card
c)                  Joint B account cannot be opened under this category of account
d)                 Only one account can be opened.
e)                 All the above                                                                                                 Ans:d

32.       What is IGNOAPS?

a)                 Indian Government National Old  Age Pension Scheme
b)                 Indian Guaranty National Old Age Pension Scheme
c)                  Indira Gandhi National Old Age Pension Scheme
d)                 None of these                                                                                               Ans:c

33.       What is IGNWPS?

a)                 Indian Government National Worker Pension Scheme
b)                 Indira Gandhi National Widow Pension Scheme
c)                  Indira Gandhi National Worker Pension Scheme
d)                 None of these                                                                                               Ans:b


34.       What is IGNDPS?

a)                 Indira Gandhi National Development pension Scheme
b)                 Indian Government National disability pension Scheme
c)                  Indiara Gandhi National disability pension Scheme
d)                 None of these                                                                                               Ans:c

35.       A blind or illiterate or physically handicapped adult

a)                 Cannot be opened any account
b)                 May open or operate account personally
c)                  May operate account through a literate agent nominated by him for the purpose
d)                 Both the B and C                                                                                         And:d

36.       Mark the correct option

a)                 A literate person can account with cheque facility
b)                 No minimum amount is required for opening of Workers wage account
c)                  Saving account can be opened by cash only
d)                 All the above                                                                                                 Ans:d

40.       What is MG-NREGA?

a)                 Most Guaranteed – National Rural Employment Guaranty Act
b)                 Mhatma Gandhi- New Right Enabled Guaranty Act
c)                  Mahatma Gandhi- National Rural Employment Guaranty Act
d)                 None of these                                                                                               Ans:c

41.       Mark the correct option

a)                 No subsequent deposit allowed less than Rs 5 in saving account
b)                 No withdrawal is allowed less than Rs 5
c)                  No withdrawal shall be permitted which has the effect reducing the balance to less than fifty in single account and less than 500 in cheque account
d)                 All the above                                                                                                 Ans:d

42.       Mark the correct option

a)                 No interest shall be allowed on an account for any month in which the balance at credit below twenty rupees ant any time between the close of the tenth day and end of the month
b)                 No interest shall be allowed on an account for any year in which the amount of interest for the year is less than one rupees
c)                  In case death of the depositor interest in the account will be allowed till the end of the month preceding the month in which sanction for withdrawal of balance is issued by competent postal authority
d)                 All the above                                                                                                 Ans:d

43.       Mark the incorrect option

a)                 No  further transaction will be allowed in silent account
b)                 The silent account cannot be revived should be closed
c)                  The silent account can be revived by transaction and submitting an application.
d)                 None of these                                                                                               Ans:b

44.       Mark the correct option

a)                 In case of silent accounts in which the minimum balance below Rs 50/- a service charge of Rs 20/- per year is debited on the last working day of the financial year.
b)                 When balance in silent account becomes Zero the account shall be treated as closed
c)                  A service charge for dishonored cheques @50/- per cheque plus postage charge will be debited to the depositor accounts.
d)                 All the above                                                                                                 Ans:d

45.       In case any discrepancy, passbook will be retained and receipt form____ will be issued to the depositor

            a)         SB-32                                                 b)         SB-28
            c)         SB-27                                                 d)         SB-14                                     Ans:b

46.       In case the balance was above one lac in deceased depositor account___ is necessary

a)                 Witness of responsible person
b)                 Thumb impression of the deceased person
c)                  Succession certificate or Probate of will or letter of administration
d)                 All the above                                                                                                 Ans:c

47.       To supply of saving bank ledger copy Rs _____ will be charged

a)                 10 per ledger copy
b)                 Rs 5 per every thirty entry
c)                  Rs 2 per every thirty entries or part there of
d)                 Free                                                                                                                Ans:c

48.       Mark the correct option relating to cheque collection charges.

a)                 Rs 30/- for a cheque up to Rs 1000/-
b)                 Rs 3/- per thousand beyond Rs 1000/-
c)                  No collection charges will be charged on outstation cheque  of Post office saving bank drawn in post office saving bank
d)                 All the above                                                                                                 Ans:d

49.       When an account opened in contravention of rules

a)                 The account should be closed
b)                 The deposit made in the account refunded to the depositor without interest
c)                  Both  A and B
d)                 None of these                                                                                               Ans:c

50.       Mark the correct option

a)                 The account can be transferred  submitting an application in form SB 10(b)
b)                 The account may be opened in using the form SB 3
c)                  SB 7 is necessary to get withdrawal  except cheque account
d)                 All the above                                                                                                 Ans:d

51.       A person can open ____ of RD Accounts in one post office

            a)         Only one                                            b)         One single and another joint
            c)         Any number                                      d)         None of these                       Ans:c

52.       Mark the correct option

a)                 A RD account can be opened with min deposit of Rs 10/- and  multiple of Rs 5/-
b)                 No max deposit will be prescribed in RD account
c)                  Rebate will be paid on 6 advance deposit or more as per prescribed and default will be recovered if a depositor fails to deposit his/her monthly deposit up to last working day of a calendar month,
d)                 All the above                                                                                                 Ans:d

53.       Mark the correct option

a)                 Withdrawal  will be allowed 50% deposited amount in RD account after one year and after 12 monthly deposit.
b)                 No withdrawal is allowed in discontinued RD accounts
c)                  10% interest will be charged on loan amount
d)                 If the repayment with interest is made on or before the 10th of the month, no interest shall be payable for that month
e)                 All the above                                                                                                 Ans:e

54.       The rate of interest in RD account opened before 01 Dec 11 and on or after 01 Dec 2011 and up to 31 Mar 12 is
           
            a)         6.5%, 7%                                           b)         7.5%, 8%
            c)         8%, 8.5%                                           d)         8%, 8.2%                               Ans:b

55.       The maturity value on Rs 10 denomination of RD account opened on or after 01 Dec 2011 and up to 31 Mar 12  and 01 Apr 12 is(Interest @8.4%)
           
            a)         728.29                                                b)         738.62, 747
            c)         738.51                                                d)         738.10                                    Ans:b

56.       Mark the correct option relating to RD

a)                 If there are more than four monthly defaults, the account shall be treated as discontinued
b)                 Revival of the account shall be permitted only within a period of two months from the month of fifth default.
c)                  Discontinued account can be closed after three years
d)                 All the above                                                                                                 Ans:d

57.       Protected saving scheme is admissible in _____ den of RD accounts

            a)         10                                                        b)         20
            c)         50                                                        d)         50                                            Ans:d

(Prepared by AB Kantharaja  Kodagu Dn, Karnataka, presently serving in APS (abkantharaja@gmail.com) mobile No 08969822340)


58.       Mark the correct option relating to Protected saving scheme
a)         Twenty four months have been elapsed from the date of opening the account and during the said period all the month installments have been paid into the account without any default and there has been no withdrawal from the account during the period.
b)         The age of the depositor or depositors as the case may be, at the time of opening the account was not less than 18 years and not more than 53 years
c)         The legal heir/nominee of the deceased depositor has not made any claim or has not already been given the benefit in respect of any other account under the scheme
d)         The claim applied for within one year of the death of the depositor    
e)         All the above                                                                                                   Ans:e

59.       Mark the correct option
           
a)                 In case RD account opened between 1st and 15th of the month the subsequent deposit shall be made up to 15th of the next month.
b)                 In case RD account opened between 16th and last date of the month the subsequent deposit shall be made up to end of the month of next month
c)                  The above effect apply all account opened before 01 Jan 2012 and after .
d)                 All the above                                                                                                 Ans:d
          (This rule presently not in force)

60.       In case of maturity value of discontinued RD account is retained after the date of maturity the depositor shall be entitled ______ of interest wef 01 Jan 2012

            a)         3.5%                                                   b)         4%
            c)         8%                                                      d)         9.25%                                     Ans:b

61.       Post maturity interest on RD account after extended maturity period shall be paid up to

            a)         1 Year                                                b)         2 Years
            c)         3 Years                                  d)         No  limit          (from 01-01-12)            Ans:d

62.       Present rate of interested on on 1, 2, 4, 5 years  fixed deposit(TD)  is

            a)         6.25%, 6.50%, 7.25%, 7.50%         b)         7.25%, 7.50%, 8%, 8.2%
            c)         8.2%, 8.3%, 8.4%, 8.5%                  d)         None of these                       Ans:c

63.       A person can open ____ of TD Accounts in one post office

            a)         Only one                                            b)         One single and another joint
            c)         Any number                                      d)         None of these                       Ans:c

64.       Minimum limit for deposit in TD Account

            a)         200/- and multiple 200/-                  b)         100/- and multiple 100/-
            c)         200/- and multiple 100/-                  d)         None of these                       Ans:a


65.       Mark the correct option

a)                 There is no maximum limit of deposit in TD accounts of any type
b)                 No subsequent withdrawal allowed in TD accounts before date of maturity
c)                  The investment under 5 years TD qualifies for the benefit of Section 80C f the income tax Act 1961 from 01-04-2007
d)                 All the above                                                                                                 Ans:d

66.       The amount of maturity inclusive of interest if becomes Rs 20000/- or above shall be paid by

            a)         Cash only                                          b)         By crossed cheque
            c)         By Credit into saving accounts     d)         Either B or C                         Ans:d

67.       Mark the correct option

a)                 TD accounts cannot be closed prematurely before 6 months from the date of opening of account.
b)                 Where a deposit in 1, 2, 3 or 5 year account is withdrawn prematurely after 6 month but before expiry of one year from the  date of deposit , Normal SB interest will be payable to the depositor.
c)                  Where a deposit in 2,3 or 5 year account is withdrawn prematurely after the expiry of one year interest on such deposit shall be payable to the depositor such interest hall be calculated at the rate which shall be 1% less than the rate specified for 1 , 2 or 3 years as the case may be.
d)                 All the above                                                                                                    Ans:d

68.       Pledging of TD account as security in the name of

a)                 The president of India or Governor of the state in his official capacity
b)                 The reserve bank of India or a scheduled bank or a co-operative society
c)                  Both the A and B
d)                 None of these                                                                                                  Ans:c

69.       Post maturity interest on TD account shall be paid up to

            a)         1 Year                                                b)         2 Years
            c)         3 Years                                  d)         No  limit                                                 Ans:d

70.       Mark the correct option

a)                 No cheque collection charge is to be charged in Worker wage accounts
b)                 Workers wage account cannot be transferred from one post office to another Post office
c)                  No subsequent deposit can be made in workers wage account
d)                 No amount is required for opening worker wage accounts
e)                 All the above                                                                                                 Ans:e

71.       Minimum limit in opening of MIS account

a)                 Rs 1000/-  and in multiple of Rs 1000/-
b)                 Rs 1500/- and in multiple of Rs 1500/-
c)                  Rs 1250/- and in multiple of Rs 1250/-
d)                 None of these                                                                                               Ans:b

72.       What is the maximum limit of deposit in MIS account in single and joint?

            a)         1.5 lac and 3 lack                             b)         3 lac and 4.5 lack
            c)         4.5 lac and 9 lac                               d)         6 lac    and 9 lac                    Ans:c

73.       Mark the correct option MIS account opened on or after 01 Apr 12
           
a)                 The rate of interest shall be 8.5 % per annum payable monthly.
b)                 No withdrawal will be allowed before expiry of  maturity period 5 years
c)                  No bonus shall be payable
d)                 All the above                                                                                                 Ans:d

73.       5% bonus on initial deposit of MIS account allowed an account opened between

            a)         08 Dec 2007 to 30 Nov 2011         b)         13 Feb 2006 to 30 Nov 2011
            c)         Before 13 Feb 2006                         d)         None of these                       Ans:a

74.       Post maturity interest on TD account shall be paid up to

            a)         1 Year                                                b)         2 Years
            c)         3 Years                                  d)         No  limit                                                 Ans:d

75.       Mark the correct option

            a)         The MIS account can be close after expiry of one year.
            b)         The MIS account closed after one year but before three year 2 %  deduction         will be  made on initial deposit
c)            The MIS account closed after expiry of three year 1% deduction will be made         .     on the initial deposit
d)         In case of death of the depositor before maturity  account may be closed and        deposit refunded along with interest up to the month preceding the month in          which refund made.
e)         All the above                                                                                                 Ans:e

76.       Mark the correct option

a)                 In case death of the one depositor of joint account holder , in the MIS account the account will be treated as single from the date of death of the account holder
b)                 The surviving depositor will have withdraw the excess amount over and above the maximum limit of investment by single depositor.
c)                  If this amount is not withdrawn, the excess amount will carry the normal saving bank interest
d)                 All the above                                                                                                 Ans:d

77.       Present rate of Senior citizens saving scheme account is____ payable quarterly.

            a)         10%                                                    b)         9.3%
            c)         8.5 %                                                  d)         9.5%                                       Ans:b

78.       What is the Minimum and maximum  deposit in Senior citizen saving scheme

            a)         500 & 5 Lac                                       b)         1000 & 10 Lac
            c)         1500 & 15 Lac                                  d)         1000 & 15 Lac                      Ans:d

79.       Mark the correct option relating to Senior citizens saving scheme

a)                 An individual of the Age 60 years or more may open the account
b)                 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 within the one month of receipt the retirement benefits and not exceed the amount of retirement benefits
c)                  The maturity period  is 5 years
d)                 All the above                                                                                                 Ans:d

80.       A depositor may operate a senior citizen account

a)                 More than one account in individual capacity or jointly with spouse
b)                 Only one account single another one with spouse
c)                  Only one single account and more than one joint account
d)                 None of these                                                                                               Ans:a

81.       Joint account can be opened with

            a)         Father/mother only                          b)         Spouse only
            c)         Any persons                                     d)         Only within relation             Ans:b

82.       Mark the correct option

a)                 No subsequent withdrawal is allowed in SCSS account before expiry of 5 years
b)                 Premature closer is permitted after expiry on one year
c)                  A deduction will be made 1.5% of the deposit in case account close before expiry of 2 year and 1% after expiry of 2 years.
d)                 All the above                                                                                                 Ans:d

83.       Registration, cancellation or change in the nomination

            a)         Rs 5/- will be charged                     b)         Rs 1/- will be charged
            c)         No fee will be charged                    d)         None of these                       Ans:c

84.       Mark the correct option

a)                 After maturity , the senior citizen account will be extended further 3 year
b)                 The account continued after maturity, the deposit shall earn interest at the rate applicable to the new account opened.
c)                  In case the account not extended on maturity and closed at any time the saving bank interest applicable
d)                 There is no maximum time limit for PMI
e)                 All the above                                                                                                 Ans:e

85.       Mark the correct option relating to Senior citizen saving account

a)                 Account opening form is Form A & for closing Form E
b)                 Pay in Slip Form D
c)                  Account transfer form is From G
d)                 All the above                                                                                                 Ans:d

86.       Issue of duplicate pass book of Senior citizen account Rs____ will be charged

            a)         10/-                                                     b)         20/-
            c)         No fee                                                            d)         None of these                       Ans:a

87.       Issue of duplicate pass book of senior citizen account on second time Rs ___ will be charged

            a)         10/-                                                     b)         20/-
            c)         Second time free                             d)         None of these                       Ans:b

88.       Mark the correct option continuation of senior citizen account after death of the depositor

a)                 In case of joint account (Senior citizen) or where spouse is the sole nominee, the spouse may continue the account on the same terms and conditions even if the spouse is below the age of 60 year.
b)                 The account cannot be continued should be closed.
c)                  If both spouses opened joint account, the spouse cannot continue account after death of the 1st depositor
d)                 All the above                                                                                                 Ans:d

89.       What is the age criteria for joint holder (spouse) in case of joint SCSS account

a)                 Joint holder also to attain 60 years
b)                 No age criteria for join holder
c)                  Should be attain 55 years
d)                 All the above                                                                                                 Ans:b

90.       No TDS will be deducted if the amount of interest paid in a financial year does not exceed Rs____

            a)         3500/-                                     b)         5000/-
            c)         1000/-                                     d)         10000/-                                               Ans:d

91.       PPF account can be opened by

a)                 An individual adult can on his own name
b)                 An individual on behalf of minor
c)                  Both the A & B
d)                 None of these                                                                                               Ans:c

92.       What is the  rate of interest in PPF wef 01 Apr 12 ?

a)                 8.8% per annum compounded yearly
b)                 8.5% per annum compounded yearly
c)                  8.6 % per annum compounded yearly
d)                 None of these                                                                                               Ans:a
93.       What is the minimum and maximum limit to deposit in PPF account?

            a)         500 and 5000                                   b)         500 and 70000
            c)         1000 and 100000                             d)         500 and 100000                   Ans:d

94.       Mark the incorrect option relating to PPF account

a)                 An individual can open account with Rs 5/-
b)                 Joint account can be opened in PPF
c)                  Nomination facility is available
d)                 Both the A and B                                                                                         Ans:b

95.       The SCSS account transferred one Post office to another post office

a)                 Rs 5/-  per lac will be charged where the deposit is Rs 1 lac and above
b)                 Rs 10/- per lac will be charged where the deposit is Rs 1 lac and above on second transfer.
c)                  No fee will be charged
d)                 Both  the A and B( The fee will be paid by cash through pay in slip  Ans:d

96.       PPF account can be opened

a)                 only one single                               
b)                 One minor account on behalf of the minor
c)                  A only
d)                 Both the A and B                                                                                         Ans:d

97.       Mark the correct option

a)                 Maximum 12 deposit can be made in a financial year and more than one deposit can be made in one month
b)                 Only one account can be opened in Post office or SBI or any nationalized banks.
c)                  The account can be transferred from one PO to another and PO to State bank or nationalized bank vice versa.
d)                 All the above                                                                                                 Ans:d

98.       The PPF account can be extended after maturity up to

            a)         Further block five year.                               b)         Further two years
            c)         Cannot be extended                                   d)         None of these           Ans:a

99.       The PPF account

a)                 Cannot be attached any order or decree of court
b)                 Is  totally exempted from income tax
c)                  In the event of the death of the depositor , the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year
d)                 All the above                                                                                                 Ans:d

100.    Mark the incorrect option.

a)                 The PPF account is not transferable from one person to another person.
b)                 In the death of the depositor nominee  can be continued the account
c)                  Both the A and B
d)                 Neither A nor B                                                                                            Ans:b
101.    Mark the correct statement:

a)         A withdrawal in a PPF account can be refunded in not more than 36 monthly installments:
b)         Interest on withdrawal taken from a PPF account is one percent above the rate of interest admissible on PPF subscription
c)         Second withdrawal can be taken after refund of 1st withdrawal with interest thereon
d)         The amount of withdrawals in a PPF Account is not repayable         Ans:d

102.    Mark the correct statement.

a)         Second withdrawal in a PPF account is payable in the next financial year of the year in which principal and interest on first withdrawal has been fully refunded and other conditions fulfill
b)         Second loan is permissible in the financial year in which 1st loan and interest thereon has been recovered provided the 1st loan was not taken in the same year and other conditions fulfill
c)         Second loan is permissible in the same financial year if first loan taken in the year has been refunded alongwith interest thereon and other conditions fulfill
d)         None of the above is correct                                                                      Ans:b

103.    Mark the correct option.
What are the option available to the PPF subscriber on maturity of his PPF account:
a)         To close the account
b)         To continue the account with deposits
c)         To continue the account without deposits
d)         Either (A), (B) or (C) above                                                                         Ans:d


104.    Mark the correct  option.

a)                 The first loan on PPF accounts can be taken in the third year from the year of opening the account.
b)                 The amount of Loan will be restricted to 25% of the balance at the account end of the second year preceding the year in which the loan is applied for.
c)                  The loan is repayable either in lump sum or in convenient installments of not more than 36.
d)                 All the above                                                                                                 Ans:d

105.    Mark the correct option.

In a PPF account opened on 1.2.2011:
a)         1st loan can be taken on 1.4.2012
b)         Loan as on 1.4.2012 shall be admissible limited to 25% balance as on 31.3.11
c)         The first withdrawal shall be permissible on 01.02.2015
d)         Subscriber can take second loan on 1.4.2013 without repaying earlier loan
                                                                                                                                                Ans:a

106.    If the original passbook of depositor of PPF account is lost or mutilated or damaged, He/she should be required pay Rs _____

            a)         10/-                                                     b)         20/-
            c)         1/-                                                        d)         Free                                        Ans:a

107.    Mark the correct option relating to withdrawal on PPF account

a)                 The first withdrawal can be made at any time after expiry of 5 years from the end of the year in which the initial subscription was made.
b)                 The amount of withdrawal is limited to 50% balance at the credit at the end of the 4th year immediately  preceding the year in which the amount is withdrawn or end of the preceding year, whichever is lower.
c)                  Only one withdrawal can be made in one financial year . The amount of withdrawal is not repayable.
d)                 All the above                                                                                                 Ans:d


108.    The depositor shall be pay Rs _____ to transfer of PPF account one PO to another PO or SBI bank

            a)         Rs 10/-                                               b)         Rs 50/-
            c)         Rs 1/-                                                  d)         Free                                        Ans:d

109.    In case the depositor not made any transaction in PPF account.

a)                 Rs 50/- will be collected for the one financial year
b)                 Rs 100/- will be collected for no transaction was made for two financial year in shape of cash and credited into UCR
c)                  Condone default is called to the defaulted deposit
d)                 All the above                                                                                                 Ans:d

110.    An individual hold a PPF account with balance is Rs 500/- the date of last transaction  made on 01-03-2008 and the depositor  has comes to deposit in his account on 01 Jan 2012 but  no transaction was made in his account  till date.

a)         The subscriber should be deposit by paying default Rs 200 and the subscription should be deposited Rs 500/-

b)         The subscriber should be deposit by paying default Rs 150 and the subscription should be deposited Rs 2000/- and should not exceed the maximum deposit ceiling of Rs. 1, 00,000/-

c)         A subscriber may deposit the minimum subscription of Rs. 500/- plus the default fee of Rs. 50/- for each year of default, subject to the condition that the total deposit during the year in which defaulted subscription is deposited, should not exceed the maximum deposit ceiling of Rs. 1,00,000/-

d)         None of these                                                                                               Ans b 

111.    MIS account in multiple of Rs. 1500/- can be made instead of Rs. 1000/- MIS and the maximum limit of investment in a single account has been raised from Rs. 3 lakh to Rs. 4.5 lakh and in joint account opened by two or three adults; the maximum limit has been raised from Rs. 6 lakh to Rs. 9 Lakh.   Wef 

a)          01.8.2007                                         b)         12.5.2008            
c)         30.08.2009                                        d)         None of these                       Ans:a


112.     With effect from------------------, all Single/Double handed Sub Post Offices, at the time of closure/premature closure of RD/MIS/SCSS accounts will collect closed passbook from the depositor and attach the same with account closure form and send in a manner as prescribed for dispatch of vouchers and LOT to HO.

a)         15.2.2008                              b)         11.06.2010  
c)         23.06.2010                           d)         None of these                                   Ans:a

113.     From -------------, the transferring Head Post offices will dispatch Advice of Transfer (AT) by Service Insured Post for Rs.100/- duly sealed instead of Service Registered Post.

a)         16.03.2010                           b)         12.06.2010    
c)         15.05.2008                            d)         16-03-2009                                        Ans:d

114.    The date of credit of cheque in case of RD/PPF account will be the date of

a)                 Presentation of cheque 
b)                 Receipt of the cheque from postmaster
c)                  Receipt of the cheque from HO
d)                 The date clearing                                                                                         Ans:d

115.     present the Counter Assistant is authorized to receive deposits and allow withdrawals up to Rs.--------------/- in savings accounts only under his own power without showing the documents to the Ledger Assistant and the Supervisor.

a)         5000                                       b)         2000  
c)         4000                                       d)         None of these                                   Ans:a

116.    For each Sub Post office , the  --------------- will  fix the authorized stock  of Pass Book.

a)         Head Post master                b)         Sub Divisional Heads          
c)         Divisional  Heads                d)         None of these                                   Ans:c


117.    The initial deposit for opening  of savings account shall  be accepted in cash wef

a)         01.01.1990                           b)         05.02.2000 
d)         12.02.2005                            d)         None of these                                   Ans:a

118.    When will  issue  memo of Admission of Payment ?

a)         Warrant of payment is lost before its submission 
b)         The amount of withdrawal more than 50000/- 
c)         Both the A and B
d)         None of these                                                                                               Ans:a .

119.    Whenever a transaction   cannot be posted by the HO in a  particular  account for any reason a  remark------------------ will be made by the HO  against the entry in LOT
           
a)         Not posted                             b)         Unposted 
c)         Remain to  post                    d)         None of these                                   Ans:b

120.    The SB 60  denotes 

a)         Journal                                  b)         SB  Pass  Book 
c)         LOT                                         d)         None of these                                   Ans:c
           
121.    The  SB slips (SB 27 )  is used for ------------------

            a)         SB document is sent by the HO to SO 
b)         withdraw money from counter 
c)         SB documents is sent by the SO to HO
d)         None of the above                                                                                       Ans:a


122.    Mark the correct option

a)                 SB 26 denotes preliminary receipt
b)                 SB 28 denotes receipts for depositors passbook
c)                  SB 58 denotes long book
d)                 All the above                                                                                                 Ans:d

123.    List of documents in form SB-104

            a)         By SO to HO                                     b)         HO to SO
            b)         Both the A and B                             d)         None of these                       Ans:a

124.    An advice of transfer in form SB-9 is prepared  in ______ by

            a)         APM, duplicate                                 b)         APM, single
            c)         Postmaster , duplicate                     d)         Ledger assistant, duplicate
                                                                                                                                                Ans:d
125.    The post office saving bank started from

            a)         1990                                                   b)         1880
            c)         1882                                                   d)         1982                                       Ans:c

126.    SCSS account introduced in

            a)         1992                                                   b)         1994
            c)         2002                                                   d)         2004                                       Ans:d

127.    Payment of commission on PPF and SCSS is

            a)         1% and 0.5%                                    d)         2% and .05%
            c)         0.5%   and Nil                                   d)         No commission paid            Ans:d
                                                                                                On or after 01 Dec 2011

128.    MPKBY means

a)                 Mahila Pradan Kshetriya Bachat Yojana
b)                 Money Prevention Kendriaya Bachat Yojana
c)                  Marketing Popular Kshetriya Bachat Yojana
d)                 None of these                                                                                               Ans:a 

(Prepared & published by AB Kantharaja, Mobile 08969822340, http://abkantharaja.blogspot.in)

More questions for Paper I
1.    Post office Guide Part I and Part II(271Qns)   Click here
2.    Postal Manual Vol V(203 Qns)  Click here
3.    Postal Manual Vol VI Part I, II, III(224 Qns)  Click here
4.    POSB Manual Vol I (128 Qns)  Click here

(Prepared & published by AB Kantharaja, Mobile 08969822340, http://abkantharaja.blogspot.in)


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AB KANTHARAJA
Hassan, Karnataka, I am BA graduate. Presently working in Department of Post (DOP) as Inspector Post at Somwarpet Sub Dn, Karnataka email-abkantharaja@gmail.com
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