Here are some multiple-choice questions (MCQs) about the Atal Pension Yojana along with their answers:
Rural India: Your Guide to Atal Pension Yojana with MCQs
1.What is the primary objective of Atal Pension Yojana (APY)?
a. Providing health insurance
b. Promoting education
c. Ensuring retirement income for unorganized sector workers
d. Supporting farmers
Answer: c. Ensuring retirement income for unorganized sector workers
2.Who is eligible to join the Atal Pension Yojana?
a. Only government employees
b. Individuals between 18 to 60 years in the unorganized sector
c. Only women
d. Only those with existing pension plans
Answer: b. Individuals between 18 to 60 years in the unorganized sector
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3.What is the minimum age to join Atal Pension Yojana?
a. 25 years
b. 18 years
c. 30 years
d. 20 years
Answer: b. 18 years
4.What is the maximum age to join Atal Pension Yojana?
a. 55 years
b. 60 years
c. 65 years
d. 70 years
Answer: b. 60 years
5.What is the tenure of contribution for Atal Pension Yojana?
a. 10 years
b. 15 years
c. 20 years
d. Until the age of 60
Answer: d. Until the age of 60
6.What happens if a subscriber under Atal Pension Yojana fails to contribute regularly?
a. The account is closed immediately
b. A penalty is levied
c. The government provides additional funds
d. No action is taken
Answer: b. A penalty is levied
7.What is the minimum monthly pension amount under Atal Pension Yojana?
a. Rs. 1000
b. Rs. 2000
c. Rs. 3000
d. Rs. 500
Answer: a. Rs. 1000
8.Who administers the Atal Pension Yojana?
a. Ministry of Finance
b. Reserve Bank of India
c. Ministry of Social Justice and Empowerment
d. Pension Fund Regulatory and Development Authority (PFRDA)
Answer: d. Pension Fund Regulatory and Development Authority (PFRDA)
9.What is the primary benefit of Atal Pension Yojana for subscribers?
a. Lump-sum payment at maturity
b. Regular pension income during old age
c. Life insurance coverage
d. Educational scholarships for children
Answer: b. Regular pension income during old age
10.How is the contribution amount determined in Atal Pension Yojana?
a. Fixed amount chosen by the subscriber
b. Based on the subscriber’s age and chosen pension amount
c. Government decides the contribution
d. No fixed contribution, it varies each month
Answer: b. Based on the subscriber’s age and chosen pension amount
11.What is the role of the employer in Atal Pension Yojana?
a. Employers are not involved in the scheme
b. Employers contribute on behalf of employees
c. Employers provide health benefits
d. Employers decide the pension amount
Answer: a. Employers are not involved in the scheme
12.Can individuals with existing pension plans also join Atal Pension Yojana?
a. Yes
b. No
c. Only if they are government employees
d. Only if their existing plan is insufficient
Answer: b. No
13.What is the frequency of contributions in Atal Pension Yojana?
a. Monthly
b. Quarterly
c. Annually
d. One-time lump sum
Answer: a. Monthly
14.What happens to the accumulated pension wealth in Atal Pension Yojana in case of the subscriber’s demise?
a. It is refunded to the subscriber’s nominees
b. It is transferred to the government
c. It is forfeited
d. It is used to fund educational scholarships
Answer: a. It is refunded to the subscriber’s nominees
15.Under Atal Pension Yojana, what is the default retirement age for receiving pension?
a. 50 years
b. 55 years
c. 60 years
d. 65 years
Answer: c. 60 years
16.Who oversees the investment of funds in Atal Pension Yojana?
a. Reserve Bank of India (RBI)
b. Pension Fund Regulatory and Development Authority (PFRDA)
c. Ministry of Finance
d. Life Insurance Corporation (LIC)
Answer: b. Pension Fund Regulatory and Development Authority (PFRDA)
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17.Can a subscriber exit Atal Pension Yojana before the age of 60?
a. Yes, with no penalties
b. Yes, with a penalty
c. No, exit is not allowed
d. Only with government approval
Answer: c. No, exit is not allowed
18.What is the maximum pension amount one can receive under Atal Pension Yojana?
a. Rs. 2000
b. Rs. 5000
c. Rs. 8000
d. Rs. 10000
Answer: b. Rs. 5000
19.How is the Atal Pension Yojana linked to the Pradhan Mantri Jan Dhan Yojana (PMJDY)?
a. Both are independent schemes
b. PMJDY account holders automatically become eligible for APY
c. PMJDY and APY have the same objectives
d. APY is a part of PMJDY
Answer: b. PMJDY account holders automatically become eligible for APY
20.What is the primary financial institution involved in managing Atal Pension Yojana accounts?
a. Commercial Banks
b. Regional Rural Banks
c. Cooperative Banks
d. All of the above
Answer: d. All of the above