3/15/2021 Punjab & Sind Bank

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1. What monetary compensation will be awarded to the bank, in consideration of selling
PMJJBY policies?
A. Rs 11 for each policy sold B. Rs 30 for each policy sold
C. Rs. 165 for each policy sold D. There are no monetary benefits for the bank, as it is a
part of our duty.
Your answer is: A. Rs 11 for each policy sold

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2. What are the nomination requirements w.r.t. to the APY scheme?
A. It is not mandatory B. It is mandatory
C. If the subscriber is married, the spouse will become the D. Both B & C
default nominee
Your answer is: D. Both B & C

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3. What is the period of insurance cover available under PMJJBY insurance scheme?
A. Till 55 years of age, renewal premium to be paid only B. Till 55 years of age, subject to annual renewal upto this
upto 50 years . (entry age is not beyond the age of 50 age (however entry in the scheme will not be beyond the
years) age of 50 years)
C. Till 60 years of age, premium to be paod upto age of 50 D. Till 65 years of age, premium to be paid upto the age of
years only. 50 years only.
Your answer is: D. Till 65 years of age, premium to be paid upto the age of 50 years only.

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4. A member is covered under PMJJBY through more than one account in two different
banks and premium is received by both the banks inadvertently. The insurance cover under
the scenario (incase of any mishap) will be restricted to what amount?
A. Rs. 4 lakhs only B. Rs. 3 lakhs only
C. Rs. 2 lakhs only D. Both the premiums will be forfeited
Your answer is: C. Rs. 2 lakhs only

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5. Can a subcriber of APY upgrade the intended pension ?
A. The option is available in m/o April only B. The subcriber will have to pay a differential amount of
contribution at the rate of 8% on monthly compounding
basis .
C. A fee of Rs.50/- will have to be paid by the subscriber D. All of these
Your answer is: C. A fee of Rs.50/- will have to be paid by the subscriber

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6. Mrs Anabelle who is working as an administrative Officer with LIC of India wants to avail
the APY scheme. Can she join the scheme?
A. No, as she is working with the public sector B. Yes, she can avail the scheme
C. She will have to take a permission from PFRDA D. She will have to surrender her PRAN card related to the
NPS deposit (if any) in order to avail the scheme
Your answer is: C. She will have to take a permission from PFRDA

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7. The Pradhan Mantri Suraksha Bima Yojana (PMSBY) provides an insurance cover against?
A. Accidental death and disability B. Death due to serious ailments like heart attack
C. Death to suicide D. Both A & B
Your answer is: D. Both A & B

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8. What is a lien clause inserted in the rules of PMJJBY wef 01.06.2016?
A. There will be lien of the bank on the amount of insurance B. claims for deaths which occur during the first 45 days
claim from the date of enrollment will not be paid, however
deaths due to accident will be exempted from the lien
clause
C. claims for deaths which occur due to accidents during D. lien clause means that the borrower has kept the
the first 45 days from the date of enrollemnt will not be insurance policy as a security with the bank .
paid. However death due to illness will be exempted from
the lien clause.
Your answer is: C. claims for deaths which occur due to accidents during the first 45 days from the date of enrollemnt will not
be paid. However death due to illness will be exempted from the lien clause.

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9. The amount of premium to be paid to avail the PMJJBY scheme annually is?
A. 330 B. 3300
C. 3960 D. 4000
Your answer is: A. 330

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10. Mrs Daina had taken both the covers i.e. PMSBY and PMJJBY. She dies in a car crash. She
had paid both the premiums, what amount can her nominee claim and under what
scheme?
A. Only Rs. 2 lakhs can be claimed (under any of the B. Rs.4 lakhs can be claimed , as premium under both the
scheme) schemes have has been paid
C. Simultaneous covers cant be taken, both the schemes D. Under such a situation only Rs 50000 will be paid by the
will get terminated. So claims will not be processed insurer
Your answer is: A. Only Rs. 2 lakhs can be claimed (under any of the scheme)

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11. Is there any option of voluntary exit below the age of 60 years under the APY scheme?
A. Yes, Voluntary exit under APY before 60 years of age is B. No, there is no such option
permitted C. A person has to wait till he/she turns 65 years of age
before opting for voluntary exit
D. Such cases are selected on by lottery system
Your answer is: A. Yes, Voluntary exit under APY before 60 years of age is permitted

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12. The GOI, in order to market the scheme was co-contributing ________ percentage or
Rs 1000/- (whichever is lower) from the financial year 2015-16 to 2019-2020.
A. 0.5 B. 0.4
C. 0.35 D. there was no such option
Your answer is: D. there was no such option

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13. Incase an APY subsciber dies before the age of 60. What options do the family members
have as the APY provisions?
A. The spouse can be offered to continue the contribution B. The spouse is entitled to claim the entire accumulated
towards the scheme for the remaining period, till the corpus till date.
original subscriber would have attained the age of 60 C. Either A or B
years. The spouse shall be entitled to receive the same D. The subscriber has to survive for more than 60 years to
pension amount as the subscriber until death of the avail the benefits of the scheme
spouse.
Your answer is: C. Either A or B

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14. The insurance cover under the PMSBY is available till what age?
A. 65 years B. 70 years
C. 75 Years D. It is a life term cover
Your answer is: A. 65 years

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15. Incase an APY subscriber dies after the age of 60 and subsequently spouse also expires
after few years, how will the scheme progress?
A. The scheme will come to an end, without any further B. Nominee will be eligible for the return of the corpus
payouts amount (accumulated on the basis of investment made
by the subscriber till reaches the age of 60), following
which the scheme will come to an end.
C. Nominee will start receiving the monthly pension D. Nominee will start receiving the pension amount once
amount he/she gets married
Your answer is: B. Nominee will be eligible for the return of the corpus amount (accumulated on the basis of investment made
by the subscriber till reaches the age of 60), following which the scheme will come to an end.

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16. With reference to Atal Pension Yojana , Choose the appropriate category under which the
scheme can be categorised?
A. Insurance Scheme B. Social security scheme
C. Speculative scheme D. Short Term investment scheme
Your answer is: A. Insurance Scheme

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17. Mr. Berlin, whose date of birth is 01.01.1980, comes over to the Punjab & Sind bank's branch
on 24.12.2020 to subscribe to APY yojana. Is he eligible to avail the scheme?
A. Yes, he is still under the category of 18 to 40 yers B. No, he has crossed the age
C. The case will be refered to the controlling office for D. No, as the a subscriber should lie in the category of 21 to
sanctioning 35 years
Your answer is: A. Yes, he is still under the category of 18 to 40 yers

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18. What is the cover period under the (PMSBY) Pradhan Mantri Suraksha Bima Yojana?
A. Jan to 31st Dec B. April to 31st march
C. Sep to 31st Aug D. June to 31st May
Your answer is: D. June to 31st May

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19. Mrs Merkel gets herself enrolled under the PMJJBY scheme in Dec 2020. How much
premuim will she have to pay for the initial year?
A. Rs. 330 (premium will be charged for the whole year B. Rs. 172 for the remaining two quarters
only) C. Rs. 165 for the remaining two quarters
D. Rs. 100 as a lump sum payment for the remaining two
quarters
Your answer is: D. Rs. 100 as a lump sum payment for the remaining two quarters

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20. Mr. Nicholas aged 39, a walking customer who has come over to a branch of PSB for the
first time enquires about the APY scheme, taken away by the impressive features he wants
to subcribe it. Considering the facts what formalities does he need to fulfill to avail the
scheme?
A. There are no fomalities, he can open up an APY a/c with B. As the para clearly mentions that he is a walking, so he
immediate effect can avail the scheme until he opens up a SB a/c
C. No, as he does not meet the age requirements D. No, as the scheme is open for people having atleast a 6
month old SB a/c
Your answer is: D. No, as the scheme is open for people having atleast a 6 month old SB a/c

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21. Incase an APY subsciber dies after the age of 60, with a surviving spouse. What provisions
of the scheme would apply?
A. The spouse will receive the pension benefits. After the B. The spouse will receive the pension benefits. Till his/her
death of the spouse the nominee will be eligible to claim death, after which the scheme will come to an end.
the corpus accumulated on the basis of investment C. In such a scenario the acccumulated corpus will be
made by the subscriber till the age of 60. divided on 50:50 among the spouse and the nominee
D. In such a scenario the spouse will receive all the
acccumulated corpus, folowing which the scheme comes
to an end
Your answer is: A. The spouse will receive the pension benefits. After the death of the spouse the nominee will be eligible to
claim the corpus accumulated on the basis of investment made by the subscriber till the age of 60.

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22. The PMJJBY insurance scheme provides a cover against?
A. Natural death B. Death due to accident
C. Death due to accident (which occurred due to D. Only A & B
intoxication)
Your answer is: C. Death due to accident (which occurred due to intoxication)

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23. What is the contribution amount which a APY scheme holder has to deposit?
A. He/she can choose the amount as per there will B. The contribution will depend upon the age and pension
slab choosen
C. The contribution will depend upon the frequency of D. Both B & C
contribution
Your answer is: D. Both B & C

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24. What monetary compensation will be awarded to the BC of the bank, in consideration of
selling PMJJBY policies?
A. Rs 50 for each policy sold B. Rs 30 for each policy sold
C. Rs. 11 for each policy sold D. Rs 1000 (lumpsum) for selling 100 policies
Your answer is: C. Rs. 11 for each policy sold

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25. Mr AB who was having an accidental cover under the PMSBY, met with an deadly
accident. His life was saved by the grace of God but unfortunately had to part of with one of
the limbs. How much amount can Mr AB claim in lieu of the same?
A. Rs 2 Lakhs B. Rs. 1 lakhs
C. Rs. 75000 D. Claim will made as per the medical bills with no outer
limit
Your answer is: B. Rs. 1 lakhs

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