NPS
1. 1. When did the Central Civil Services (Implementation of National Pension System) Rules, 2021 come into effect?
a) 1st
January 2004
b) 31st
March 2021
c) 1st
April 2021
d) 15th
August 2021
Answer: b) 31st March
2021
2. Which of the following categories of employees is NOT covered under the NPS Rules, 2021?
a) Civilian
Government servants in Defence Services
b) Members
of the All India Services
c) Employees
appointed after 1st January 2004
d) Union
Territory employees
Answer: b) Members of the
All India Services
3. What does the term "Accumulated Pension Corpus" refer to?
a) Monthly
pension payout
b) Total
pension contributions plus interest
c) Annuity
amount received after retirement
d) The
amount transferred to a nominee
a) Reserve
Bank of India
b) Comptroller
and Auditor-General of India
c) Central
Recordkeeping Agency
d) Pension
Fund Regulatory and Development Authority
5. The Annuity Service Provider is regulated by which authority?
a) Pension
Fund Regulatory and Development Authority (PFRDA)
b) Reserve
Bank of India (RBI)
c) Insurance
Regulatory and Development Authority (IRDA)
d) Securities
and Exchange Board of India (SEBI)
Answer: c) Insurance Regulatory and Development Authority (IRDA)
6. What is the role of the "Trustee Bank" in the NPS?
a) Collecting
and disbursing pension funds
b) Regulating
pension funds
c) Monitoring
pension investments
d) Providing
pension annuities
Answer: a) Collecting and disbursing pension funds
7. What is the Permanent Retirement Account Number (PRAN) used for?
a) Identifying
an NPS subscriber
b) Calculating
pension benefits
c) Paying
annuities
d) Managing
the pension fund
Answer: a) Identifying an NPS subscriber
8. Which entity is responsible for investing the pension contributions?
a) Comptroller
and Auditor-General
b) Pension
Fund Regulatory and Development Authority
c) Pension
Fund Managers
d) Ministry
of Finance
Answer: c) Pension Fund Managers
9. Which of the following employees is NOT eligible for NPS?
a) Government
employees appointed after 2004
b) Employees
in Foreign Service
c) Casual
or daily wage employees
d) Civil
servants in Union Territories
Answer: c) Casual or daily wage employees
10. What is the purpose of the Central Recordkeeping Agency (CRA)?
a) To
manage pension funds
b) To
store and maintain records of NPS subscribers
c) To
issue pension payments
d) To
determine pension eligibility
Answer: b) To store and maintain records of NPS
subscribers
11. What
does "Emoluments" refer to under the NPS rules?
a) Monthly
pension
b) Basic
pay plus dearness allowance
c) Bonus
and incentives
d) Retirement
benefits
Answer: b) Basic pay plus dearness allowance
12. Which
of the following acts governs the functioning of the NPS?
a) Pension
Fund Regulatory and Development Authority Act, 2013
b) Insurance
Act, 1938
c) Banking
Regulation Act, 1949
d) Companies
Act, 2013
Answer: a) Pension Fund Regulatory and Development
Authority Act, 2013
13. Who
is responsible for registering a new government employee in NPS?
a) Reserve
Bank of India
b) The
subscriber themselves
c) Head
of Office
d) Union
Public Service Commission
Answer: c) Head of Office
14. How
soon should an employee apply for registration under NPS after joining?
a) Within
one month
b) Immediately
upon joining
c) Within
six months
d) After
probation period
Answer: b) Immediately upon joining
15. The
first contribution of a government servant to NPS should be credited within how
many days?
a) 10
days
b) 20
days
c) 30
days
d) 45
days
Answer: b) 20 days
16. Who
ensures that the employee's registration process in NPS is completed without
delay?
a) Central
Recordkeeping Agency
b) Ministry
of Finance
c) Pension
Fund Regulatory and Development Authority
d) Head
of Office
Answer: d) Head of Office
17. What
happens if an employee's NPS registration is delayed beyond the first salary
payment?
a) The
salary is withheld
b) The
contribution is deducted but kept in suspense
c) The
contribution is added with interest once registration is complete
d) The
employee is removed from NPS
Answer: c) The contribution is added with interest
once registration is complete
18. Which
body appoints the Accredited Bank for NPS transactions?
a) Ministry
of Finance
b) Reserve
Bank of India
c) Pension
Fund Regulatory and Development Authority
d) Comptroller
and Auditor-General
Answer: c) Pension Fund Regulatory and Development
Authority
19. Under
NPS, pension contributions are accumulated in which type of account?
a) General
Provident Fund Account
b) Public
Provident Fund Account
c) Individual
Pension Account
d) National
Savings Account
Answer: c) Individual Pension Account
20. Which
of the following is NOT a function of the Pension Fund?
a) Receiving
pension contributions
b) Investing
pension funds
c) Directly
paying out pension benefits
d) Managing
retirement corpus
Answer: c) Directly paying out
pension benefits
21. Who
is authorized to withdraw money for payments under NPS?
a) Comptroller
and Auditor-General
b) Cheque
Drawing and Disbursing Officer
c) Reserve
Bank of India
d) Central
Recordkeeping Agency
Answer: b) Cheque Drawing and Disbursing Officer
22. What
is the role of the Pay and Accounts Officer in NPS?
a) Collecting
pension contributions
b) Maintaining
records and processing contributions
c) Paying
pension annuities
d) Issuing
Permanent Retirement Account Numbers
Answer: b) Maintaining records and
processing contributions
23. What
is the minimum retirement age for withdrawing the Accumulated Pension Corpus
under NPS?
a) 55
years
b) 58
years
c) 60
years
d) 65
years
Answer: c) 60 years
24. What
percentage of the pension corpus must be used to purchase an annuity upon
retirement?
a) 25%
b) 40%
c) 50%
d) 60%
Answer: b) 40%
25. Which
of the following statements is true regarding the National Pension System?
a) It
is a voluntary pension scheme for government employees
b) It
allows full withdrawal upon retirement
c) It
mandates a partial investment in annuities
d) It
applies only to private sector employees
Answer: c) It mandates a partial investment in
annuities
26. Which
of the following employees are NOT covered under the NPS Rules, 2021? (Select
all that apply)
a) Railway servants
b) Members of the All India Services
c) Civilian Government servants in Defence
Services
d) Persons in casual and daily-rated
employment
Answer : a, b, d
27. Which
entities are involved in managing the National Pension System (NPS)? (Select
all that apply)
a) Pension Fund Regulatory and Development
Authority (PFRDA)
b) Central Recordkeeping Agency (CRA)
c) Pension Fund Managers
d) Employees’ Provident Fund Organization
(EPFO)
Answer: a,b,c
28. Which
of the following statements about the Annuity Service Provider (ASP) are
correct? (Select all that apply)
a) It is a life insurance company
b) It provides periodic pension payments
c) It is regulated by the Reserve Bank of
India (RBI)
d) It is empanelled by the PFRDA
Answer: a,b,d
29. What
are the roles of the Pay and Accounts Officer in NPS? (Select all that apply)
a) Processing pension contribution
applications
b) Forwarding subscriber details to the CRA
c) Issuing monthly pension payments
d) Ensuring the first contribution is credited
within 20 days
Answer: a,b,d
30. Which
of the following are key components of the National Pension System (NPS)?
(Select all that apply)
a) Central Recordkeeping Agency (CRA)
b) Pension Fund Managers (PFMs)
c) Permanent Retirement Account Number (PRAN)
d) Employees' State Insurance Corporation
(ESIC)
Answer: a,b,c
31. Which
of the following is NOT an objective of the National Pension System?
a) Providing retirement income security
b) Offering a fixed pension amount to all
employees
c) Promoting long-term savings
d) Ensuring annuity purchase after retirement
Answer: b
32. Which
of the following is NOT a function of the Central Recordkeeping Agency (CRA)?
a) Maintaining subscriber records
b) Processing pension contributions
c) Investing pension funds
d) Allocating PRAN numbers
answer: c
33. Which
of the following is NOT a mandatory requirement for NPS registration?
a) Submission of a registration form
b) Selection of an annuity service provider at
the time of joining
c) Generation of a Permanent Retirement
Account Number (PRAN)
d) Contribution from both employer and
employee
Answer: b
34. Which
of these organizations is NOT directly involved in the administration of NPS?
a) Pension Fund Regulatory and Development
Authority (PFRDA)
b) Employees' Provident Fund Organization
(EPFO)
c) Central Recordkeeping Agency (CRA)
d) Pension Fund Managers (PFMs)
Answer: b
35. Which
of the following does NOT apply to the pension fund managers under NPS?
a) They are registered under PFRDA
b) They provide direct pension payouts to
retirees
c) They invest pension contributions in
different asset classes
d) They manage the accumulated pension corpus
Answer: b
36. If
a subscriber is on deputation abroad, their pay for NPS contribution is
determined based on:
A) Their
last drawn salary before deputation
B) The
salary paid by the foreign organization
C) The
government salary they would have received
D) None
of the above
Answer: C) The government
salary they would have received
37. Contributions
under NPS must be rounded off to:
A) The
nearest rupee
B) The
nearest ten rupees
C) The
next higher rupee
D) The
next lower rupee
Answer: C) The next
higher rupee
38. If
a subscriber is on suspension, their contribution is based on:
A) Full
salary
B) Half
salary
C) Subsistence
allowance
D) No
contribution
Answer: C) Subsistence
allowance
39. During
extraordinary leave without pay, NPS contributions:
A) Are
still mandatory
B) Are
optional for the subscriber
C) Are
not made
D) Are
deducted from future salary
Answer: C) Are not made
40. In
case of suspension, the government’s contribution is based on:
A) Full
salary
B) The
amount of subsistence allowance
C) Half
of the last drawn pay
D) The
decision of the government
Answer: B) The amount of
subsistence allowance
41. If
the suspension period is later treated as duty, the contribution for that
period:
A) Is
refunded
B) Is
recalculated and adjusted
C) Is
ignored
D) Remains
unchanged
Answer: B) Is
recalculated and adjusted
42. If
there is a delay in crediting the contribution to the NPS account, the interest
rate applied is:
A) As
per the bank savings rate
B) As
decided by the government for Public Provident Fund deposits
C) As
per the stock market performance
D) Zero,
no interest is applicable
Answer: B) As decided by
the government for Public Provident Fund deposits
43. If
a delay in contribution is due to administrative lapse, who is responsible?
A) The
subscriber
B) The
government
C) The
responsible official
D) No
one
Answer: C) The
responsible official
44. A
government employee can retire voluntarily after completing how many years of
service?
A) 10
years
B) 15
years
C) 20
years
D) 25
years
Answer: C) 20 years
45. If
an employee retires on superannuation, their NPS benefits are governed by:
A) Pension
Fund Regulatory and Development Authority (PFRDA) rules
B) Central
Civil Services Pension Rules
C) Public
Provident Fund Rules
D) Income
Tax Act
Answer: A) Pension Fund
Regulatory and Development Authority (PFRDA) rules
46. If
a subscriber dies in service without opting for any scheme, their family will
get:
A) Benefits
under the Central Civil Service Pension Rules
B) Lump
sum from NPS corpus
C) No
benefit
D) Provident
Fund withdrawal only
Answer: A) Benefits under
the Central Civil Service Pension Rules
47. Under
NPS, a retired employee can opt to defer their withdrawals:
A) Yes,
as per PFRDA regulations
B) No,
withdrawals must be immediate
C) Only
if the government approves
D) Only
if they have more than 30 years of service
Answer: A) Yes, as per
PFRDA regulations
48. Who
is responsible for deducting and depositing NPS contributions?
A) The
employee
B) The
Drawing and Disbursing Officer
C) The
NPS Trust
D) The
Bank Manager
Answer: B) The Drawing
and Disbursing Officer
49. Contributions
made in arrears due to a salary revision are considered:
A) As
per the month in which they are received
B) For
the actual months they pertain to
C) Exempt
from interest calculations
D) Not
allowed under NPS rules
Answer: A) As per the
month in which they are received
50. Which
body regulates the investment of NPS funds?
A) Reserve
Bank of India
B) Pension
Fund Regulatory and Development Authority (PFRDA)
C) Securities
and Exchange Board of India (SEBI)
D) Ministry
of Finance
Answer: B) Pension Fund
Regulatory and Development Authority (PFRDA)
51. In
case of deputation outside India, who ensures the NPS contributions are
credited?
A) The
foreign employer
B) The
Indian government’s designated authority
C) The
employee themselves
D) The
Indian Embassy
Answer: B) The Indian
government’s designated authority
52. What
happens to an employee’s NPS account if they resign before retirement age?
A) They
forfeit all contributions
B) They
receive their accumulated corpus as per PFRDA withdrawal rules
C) They
must transfer it to another government scheme
D) The
money is refunded without interest
Answer: B) They receive
their accumulated corpus as per PFRDA withdrawal rules
53. If
a government servant covered under NPS dies in service, what happens if no
eligible family member exists for a pension?
A) The
NPS corpus is forfeited
B) The
amount is credited to the Consolidated Fund of India
C) The
benefits are granted to the legal heirs under NPS withdrawal rules
D) The
contributions are refunded without interest
Answer: C) The benefits
are granted to the legal heirs under NPS withdrawal rules
54. What
form must a government servant fill out at the time of joining to select
pension benefits in case of death or disability?
A) Form
1
B) Form
2
C) Form
3
D) Form
5
Answer: A) Form 1
55. In
case a government servant has no family at the time of joining, when should
they submit family details?
A) After
five years of service
B) As
soon as they acquire a family
C) Before
retirement
D) At
the time of resignation
Answer: B) As soon as
they acquire a family
56. What
must be submitted to claim a disability pension for a child under NPS rules?
A) A
request letter from the family
B) A
Medical Certificate from a Civil Surgeon
C) An
affidavit from a notary
D) A
declaration from the employer
Answer: B) A Medical
Certificate from a Civil Surgeon
57. If
a subscriber voluntarily retires, when does the NPS pension become accessible?
A) Immediately
B) Only
after the age of 60
C) As
per PFRDA withdrawal regulations
D) After
30 years of service
Answer: C) As per PFRDA
withdrawal regulations
58. A
subscriber who has voluntarily retired can:
A) Withdraw
the full corpus immediately
B) Continue
their NPS account
C) Only
receive a pension after 70 years
D) Transfer
funds to another government scheme
Answer: B) Continue their
NPS account
59. Under
what conditions can a subscriber's voluntary retirement notice be withdrawn?
A) Only
if the employer allows it
B) If
requested at least 15 days before the retirement date
C) If
submitted within three months of the initial notice
D) It
cannot be withdrawn
Answer: B) If requested
at least 15 days before the retirement date
60. Which
of the following is NOT a reason for the government to reject a voluntary
retirement request?
A) The
employee is under investigation
B) The
retirement will cause administrative inconvenience
C) The
employee has completed 20 years of service
D) The
employee has confidential assignments
Answer: C) The employee
has completed 20 years of service
61. Who
is responsible for investing the accumulated NPS pension corpus?
A) The
individual subscriber
B) The
Pension Fund Regulatory and Development Authority (PFRDA)
C) The
Ministry of Finance
D) The
Comptroller and Auditor General
Answer: B) The Pension
Fund Regulatory and Development Authority (PFRDA)
62. What
is the default option for investing NPS contributions?
A) Fixed
Deposit Scheme
B) Government
Bonds Only
C) As
per PFRDA investment guidelines
D) Stock
Market Direct Investment
Answer: C) As per PFRDA
investment guidelines
63. If
an employee contributes more than the mandatory amount, the excess amount is:
A) Invested
as per their NPS scheme choice
B) Refunded
without interest
C) Merged
with the government contribution
D) Used
for administrative expenses
Answer: A) Invested as
per their NPS scheme choice
64. If
an official delays crediting NPS contributions due to an administrative lapse,
what happens?
A) The
official must pay the loss amount
B) The
employee loses the contribution
C) No
action is taken
D) The
funds are credited without penalty
Answer: A) The official
must pay the loss amount
65. Who
is responsible for uploading the Subscription Contribution File for NPS
contributions?
A) The
subscriber
B) The
Drawing and Disbursing Officer
C) The
Pay and Accounts Officer
D) The
NPS Trust
Answer: C) The Pay and
Accounts Officer
66. What
is the consequence of a delay in crediting government contributions to the NPS
account?
A) No
interest is applied
B) The
employee loses benefits
C) Interest
is applied based on PPF rates
D) A
penalty is imposed on the employee
Answer: C) Interest is
applied based on PPF rates
67. If
a subscriber is deputed to an international organization (e.g., UN), who
regulates their NPS contributions?
A) The
foreign employer
B) The
Indian government and DoPT guidelines
C) The
PFRDA directly
D) The
Indian Embassy
Answer: B) The Indian
government and DoPT guidelines
68. Under
what circumstances can an employee contribute to NPS during suspension?
A) If
they choose to do so voluntarily
B) Only
if the government mandates it
C) If
they are under criminal investigation
D) They
cannot contribute under any circumstances
Answer: A) If they choose
to do so voluntarily
69. If
an employee is absent without leave and not receiving salary, what happens to
their NPS contributions?
A) They
continue to be deducted from future salary
B) They
stop until the employee resumes duty
C) The
employee is fined
D) Contributions
are transferred to another account
Answer: B) They stop
until the employee resumes duty
70. When
is the deadline for the Drawing and Disbursing Officer to send NPS contribution
details?
A) 10th
of every month
B) 20th
of every month
C) Last
working day of every month
D) 5th
of every month
Answer: B) 20th of every
month
71. When
should the government remit the NPS contributions to the Trustee Bank?
A) Within
the first 5 days of the next month
B) On
the last working day of the month
C) At
the discretion of the employer
D) Only
when the employee requests withdrawal
Answer: B) On the last
working day of the month
72. What
is the default option if a subscriber does not make an explicit withdrawal
choice upon retirement?
A) Full
lump sum withdrawal
B) Monthly
pension as per PFRDA rules
C) Government
retains the amount
D) Immediate
forfeiture of contributions
Answer: B) Monthly
pension as per PFRDA rules