MCQs On Post Office Monthly Income Scheme 2019,Multiple choice questions and answers (MCQs) on National Savings Monthly Income Account Scheme 2019 (NSMIS 2019). Useful for Postal Exams/LDCE IPO Exam/PS Group B Exam/LGO Exams/GDS to Postman/MTS/Mail Gaurd/PA/SA Exams in postal department.
NATIONAL MONTHLY INCOME ACCOUNT SALIENT FEATURES (MIS 2019)
1. If a depositor has made deposit in excess of prescribed limit, this excess amt will be paid immediately along with interest POSA rate from date of deposit to end of the month preceding the month in which refund is made.
2. If PMC is allowed, after 1 yr before 3 yrs- 2% deduction, after 3 yrs before 5 yrs-1% deduction.
3. Account can be closed after 5 years from opening of an account.
4. Incase death of depositor; interest will be paid up to month preceding the month in which refund is made.
1. Which one of the following is incorrect with respect to MIS account ?
A Interest Shall be payable to the account holder on completion of a year from the date of deposit
B Account cannot be transferred from one post office to another post office
C All of these
D Nomination facilities available at the time of opening but not after opening of account
2. A National Savings Monthly Income Scheme account 2019 maybe opened by
A Maximum of three adults Jointly
B Maximum of two adults jointly
C Maximum of four adults jointly
D None of these
3. What is the minimum amount required for opening of monthly income scheme account under National Savings monthly income account scheme 2019?
A One Thousand Rupees
B One Hundred Rupees
C Five Hundred Rupees
D Two Hundred and Fifty Rupees
4. Which one of the following is correct in respect of monthly income scheme account?
A A maximum of rupees 450000 excludes deposit of minor account
B A maximum of rupees 450000 excludes deposit of minor account
C A depositor may invest 450000 in single account as well as joint account separately
D None of the above
5. When will premature closer of account is allowed under National Savings Monthly Income Account scheme 2019?
A After expiry of a period of 3 years from the date of opening
B After expiry of a period of 2 years from the date of opening
C After expiry of a period of 1 year from the date of opening
D After expiry of a period of 5 years from the date of opening
6. What is the penalty on premature closure of MIS account ?
A After the expiry of 3 years from the date of opening, one percent of the deposit will be charged
B After the expiry of 3 years from the date of opening, 2% on the deposit will be charged
C Before the expiry of 3 years from the date of opening one percent on the deposit will be charged
D Before the expiry of 3 years from the date of opening , 3% on the deposit will be levied
7. How interest on deposits in monthly income scheme is being paid?
A On completion of three months from the date of deposit
B Completion of one month from Date of deposit
C From the beginning of the month
D On completion of a calendar month
8. Which one of the following amount is allowed for deposit under monthly income account scheme 2019 ?
A 500
B 3000
C 1500
D 3600
9. Which one of the following is incorrect in case of Death of Depositor in MIS account?
A Account will be closed and deposit refunded along with interest up to the month preceding the month in which refund is made
B The nominee cannot continue the account in his/her name
C Refund will be made to the claimants
D Account shall be continued till it's period of five years
10. Which one of the following is correct i/r/o Post Maturity Interest in MIS Account?
A No Post Maturity Interest is payable
B MIS Interest will be given on undrawn interest
C Simple SB Rate of interest is payable
D None of these
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