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Question Bank with Answer – NPS (New Pension Scheme)

December 17, 2021, 12:39 PM

Question Bank with Answer – NPS (New Pension Scheme)

Q1. What is the full form of NPS?

a) New Pension Scheme

b) No Pension Scheme

c) National Pension System

d) None of these

Answer: c) National Pension System

Q2. National Pension System is effective from

a) 01.01.2004

b) 01.07.2004

c) 01.04.2004

d) None of these.

Ans: a) 01.01.2004 (rbe 225/03, secr 14/04)

Q3. New entrants in Railway Service will come under National Pension System

a) Automatically

b) By option

c) On Administrative option

d) None of these.

Ans: a) Automatically

Q4. National Pension System is

a) Contributory

b) Non contributory

c) None

d) All are correct.

Ans: a) Contributory

Q5. The contribution payable by the employee in National Pension System is

a) Monthly basis

b) Quarterly basis

c) Half yearly basis

d) Yearly basis

Ans: a) Monthly basis

Q6. The Employee’s contribution towards National Pension System is

a) @ 8% of basic pay + DA

b) @ 9% of basic pay + DA

c) @ 10% of basic pay + DA

d) @ 12% of basic pay + DA

Ans: c) @ 10% of Basic Pay + DA

Q7. Employer’s contribution under National Pension System is

a) 10% of Basic pay and DA

b) 11% of Basic pay and DA

c) 12% of Basic pay and DA

d) 14% of Basic pay and DA

Ans: d) 14% of Basic pay and DA (w.e.f. 01-04-19)

Q8. Full form of PFRDA is

a) Provident Fund Regulatory and Development Authority

b) Public Provident Fund Regulatory and Development Authority

c) Pension Fund Regulatory and Development Authority

d) None of these

Ans: c) Pension Fund Regulatory and Development Authority

Q9. How many Central Record Keeping Agency(ies) has/have been appointed by PFRDA under NPS?

a) One i.e. National Securities Depository Ltd (NSDL)

b) Two i.e. NSDL and M/s Karvy Computershare Private Limited

c) Three i.e. NSDL, M/s Karvy Computershare Private Limited and LIC of India

d) None of these

Ans: b) Two i.e. NSDL and M/s Karvy Computershare Private Limited

Q10. Under NPS, which of the following banks has been designated as Trustee bank?

a) Bank of India

b) Axis Bank

c) State Bank of India

d) ICICI Bank

Ans: b) Axis Bank

Q11. At the time of retirement on superannuation under NPS, minimum what percentage shall be invested for annuity in IRDA regulated life Insurer?

a) 60% of the corpus at the time of retirement

b) 100% of the corpus at the time of retirement

c) 40% of the corpus at the time of retirement

d) 80% of the corpus at the time of retirement

Ans: c) 40% of the corpus at the time of retirement

Q12. If a Railway servant covered under NPS dies in harness, his/her spouse shall invest minimum ______ for annuity in IRDA regulated life Insurer

a) 60% of the corpus at the time of death

b) 100% of the corpus at the time of death

c) 40% of the corpus at the time of death

d) 80% of the corpus at the time of death

Ans: d) 80% of the corpus at the time of death

Q13. In case of death in service of a Railway servant covered under NPS, pension will be paid to the eligible family members in the following order

a) Spouse, Children and Parents

b) Spouse, Parents and Children

c) Spouse, Mother of subscriber and Father of subscriber

d) Spouse, Son and Daughter

Ans: c) Spouse, Mother of subscriber and Father of subscriber

Q14. Staff covered under NPS are

a) Eligible for Death-cum-Retirement Gratuity

b) Not eligible for Death-cum-Retirement Gratuity

c) Eligible for Death-cum-Retirement Gratuity only in case of death

d) Eligible for Death-cum-Retirement Gratuity only in case of retirement

Ans: a) Eligible for Death-cum-Retirement Gratuity

Q15. Under NPS, partial withdrawal is allowed after a minimum service of

a) 10 years

b) 5 years

c) 3 years

d) None of these

Ans: c) 3 years

Q16. Maximum how many times partial withdrawal is allowed under NPS?

a) 5 times

b) 3 times

c) No limit

d) 10 times

Ans: b) 3 times

Q17. What is the minimum gap between two partial withdrawals under NPS, except in case o with drawal on medical ground?

a) 10 years

b) 5 years

c) 3 years

d) None of these

Ans: b) 5 years

Q18. For what purpose partial withdrawal is allowed from NPS?

a) For higher education of children/adopted child

b) For marriage of children/adopted child

c) For purchase or construction of residential house/flat

d) All the above

Ans: d) All the above

Q19. Maximum what amount may be withdrawn in the first partial withdrawal under NPS?

a) 25% of subscriber’s contribution

b) 25% of both subscriber’s and Employer’s contribution

c) 1/3rd of subscriber’s contribution

d) None of these

Ans: a) 25% of subscriber’s contribution

Q20. In the second and subsequent partial withdrawal under NPS, maximum what amount is allowed to be withdrawn?

a) 25% of subscriber’s contribution

b) 25% of the incremental contributions made by the subscriber after the date of first/next subsequent withdrawal Prepared by – H L Nayak, Ch SWI & Instructor(P)/MDZTI/SECR/BSP

c) 1/3rd of subscriber’s contribution

d) None of these

Ans: b) 25% of the incremental contributions made by the subscriber after the date of first/nex subsequent withdrawal

Q21. Which of the following agencies is the regulator and administrator for the national Pension System?

a) National Pension Regulatory Authority

b) Department of Personnel and Training

c) Securities and Exchange Board of India

d) Pension Fund Regulatory and Development Authority

Ans: d) Pension Fund Regulatory and Development Authority

Q.22 When a Railway servant covered under National Pension System (NPS) is under suspension, the amount of contribution towards NPS for the period of suspension will be

a) 10% of Basic pay and Dearness allowance

b) 5% of Basic pay and Dearness allowance

c) No contribution

d) 10% of Basic pay only

Ans: c) No contribution

Q23. The unique Permanent Retirement Account Number (PRAN) allotted to the members of National Pension System has ____ digits.

a) 10

b) 11

c) 12

d) 14

Ans: c) 12

Q24. Which of the following are reckoned as pay for payment of contribution towards National Pension System?

a) Basic pay

b) 30% pay element for running staff

c) Non-Practicing Allowance for doctors

d) All the above

Ans: d) All the above

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