Model Questions(MCQs) on POSB manual(as per latest ruling)

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Model Questions(MCQs) on POSB Manual
1) As per POSB Manual acceptance of cheque while opening new A/cs and subsequent deposit is _______  
  a) Allowed only in Head Office/Sub Offices  
b) Allowed  in Branch Post Offices only for Account opening 
c) Allowed  in Branch Post Offices only for subsequent deposit  
d) Allowed in all HO/SO/BO for account opening and subsequent deposit D
2) GDS Branch Postmaster can accept any bank cheque for opening of new account, subsequent deposit and Cheque is to be drawn in favour of__________  
  a) Concerned Postmaster of Account Office  
b) Concerned Postmaster of Branch Office
c) Concerned Postmaster of Head Office  
d) Any one of the above C
3) Branch Postmaster will check the following before accepting a cheque: –  
  a) It is not a post-dated cheque.  
b) Date of issue of cheque is not more than 3 months old.
c) Amount in words and figures should match.  
d) All the above D
4) On receipt of passbook from Account Office, GDS Branch Post office adopts procedure given below: –  
  a) Update the new A/c number /bal after transaction in the manual cheque register.  
b) Depositor’s copy of SB-26 should be taken back and paste with office copy.
c) Depositor’s signature on manual cheque register should be obtained.  
d) All the above D
5) Which of the following statements is correct w.r.t acceptance of cheques in Branch Offices:  
  a) In case cheque is drawn in favour of depositor, BPM should make an endorsement on back side of cheque as ” Pay to Postmaster_______HO ,name of the scheme & name of the account holder  
b) In case of cheque presented for subsequent deposit, the depositor will enter details of cheque in pay-in-slip and write the account number on the reverse of the cheque duly signed.
c) Both are correct  
d) Cheque cannot be accepted at Branch Post Offices C
6) Which of the following statements are incorrect w.r.t revision of interest rates for Small Savings Schemes w.e.f  01.07 .2020 :  
  a) 4% for Saving account and 7.6 % for SSA A/cs compounding annually  
b) 5.5% for 1/2/3 year TD & 6.7% for 5 years TD accounts compounding quarterly  
c) 7.4% for SCSS compounding quarterly and paid  
d) 8.4 % for SSA and 8.6% for SCCS accounts retained.  D
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7) Which of the following statements are correct w.r.t revision of interest rates for Small Savings Schemes w.e.f  01.07 .2020:  
  a) 5.5% for 5 year Recurring Deposit scheme compounding quarterly  
b) 6.6% for 5 year Monthly Income Scheme compounding monthly & paid  
c) 6.8% for NSC(VIII issue) & 7.1% for Public Provident Fund  
d) All are correct D
8) Kisan Vikas Patra will be matured in______________  
  a) 10 years 2 months  
b) 10 years 4 months  
c) 10 years  
d) 10 years 6 months B
9) Which of the following statement is correct about opening of MIS/PPF/NSC/KVP/SCSS accounts in Branch Offices  
  a) A/cs shall be opened as per the prescribed minimum and maximum limit in scheme  
b) Initial deposit and subsequent deposit in PPF should be in POSB cheque only(POSB cheque or Bank cheque)  
c) In r/o  monthly/quarterly interest of MIS/SCSS account will be paid through respective customer POSB account  
d) All the above are correct D
10)  Min amount for opening of Saving Account scheme shall be
  a) Rs 50 irrespective of if cheque book is required or not  
b) Rs 100 irrespective of if cheque book is required or not  
c) Rs 500 irrespective of if cheque book is required or not  
d) Rs 1000 irrespective of if cheque book is required or not C
   

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Will be continued…………

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