SEBI - Investor Certification Examination
SEBI - Investor Certification Examination
Q 16. How can an old, sick, or physically challenged person withdraw money using their thumb impression?
- By visiting the bank alone
- In the presence of two independent witnesses known to the bank
- Through an ATM
- By mailing a request to the bank
Q 17. What should be done if a person cannot even put their thumb impression and cannot be physically present in the bank?
- Use an ATM card
- A mark on the cheque/withdrawal form identified by two independent witnesses
- Send a representative with their ID card
- Submit a medical certificate
Q 18. Who should be identified by two independent witnesses if an incapacitated person needs someone else to withdraw money on their behalf?
- The bank manager
- The incapacitated person
- The person withdrawing the money
- The incapacitated person's family member
Q 19. What is the purpose of the National Pension System (NPS)?
- To provide immediate financial assistance
- To institute pension reforms and encourage retirement savings
- To offer health insurance to senior citizens
- To invest in the stock market
Q 20. Who is eligible for the NPS?
- Only government employees
- All citizens of India including unorganized sector workers on a voluntary basis
- Only private sector employees
- Only people below 18 years of age
Q 21. What is the unique identifier provided to NPS subscribers?
- Aadhaar number
- Permanent Account Number (PAN)
- Permanent Retirement Account Number (PRAN)
- Bank account number
Q 22. Can the unique PRAN be used from any location in India?
- No, it can only be used within the state of residence
- No, it can only be used within the district of residence
- Yes, it can be used from any location in India
- Only in rural areas
Q 23. What is required to open a Tier I NPS account?
- A mandatory bank account
- Aadhaar card
- PAN card
- No mandatory bank account is required
Q 24. What distinguishes a Tier II NPS account from a Tier I account?
- It is only for government employees
- It requires an active Tier I account and allows free withdrawals
- It does not allow fund transfers
- It offers higher tax benefits
Q 25. Which NPS account offers tax benefits?
- Tier II
- Tier I
- Both Tier I and Tier II
- Only corporate NPS accounts
Q 26. Can funds be transferred from a Tier II account to a Tier I account?
- No, it is not possible
- Yes, it can be transferred
- Only if approved by the NPS authority
- Only if the amount is below a certain limit
Q 27. What is the age range for NPS eligibility?
- 18-55 years
- 18-50 years
- 18-60 years
- 21-55 years
Q 28. What kind of account is Tier I in the NPS?
- Voluntary Savings Account
- Mandatory Retirement Account
- Fixed Deposit Account
- Recurring Deposit Account
Q 29. What does the PRAN provide access to?
- Only Tier I accounts
- Only Tier II accounts
- Both Tier I and Tier II accounts
- Only investment accounts
Q 30. What is the liquidity feature of a Tier I NPS account?
- Complete withdrawal anytime
- No withdrawals allowed
- Partial withdrawal is allowed under prescribed conditions
- Only monthly withdrawals allowed