Sample Questions

NISM-Series-17: Retirement Adviser Mock Tests — 5 random MCQs with answers & explanations

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These 5 questions are randomly selected (standard MCQs only, not case-based).

Q1 What is the rule regarding the submission of a PAN card when joining the NPS?

A. It is mandatory for everyone
B. It should be submitted if the person has one Correct Answer
C. It is only for corporate employees
D. It is only needed for investments over Rs. 5 lakhs

Explanation:

While a PAN card is a standard document, the rule is that it should be provided by the subscriber if they already have one.

Marks: 1

Q2 Which facility is available to NPS members for managing their contributions online?

A. Shifting between fund managers 10 times every day
B. Making online contributions and monitoring their account performance Correct Answer
C. Making a single lump-sum investment for their entire life at the start
D. Transferring all their money to a regular bank account any time

Explanation:

Through the eNPS platform, subscribers can easily add more money to their account and check how their investments are doing using their phone or computer.

Marks: 1

Q3 Which event usually indicates a major change in how a retirement investment portfolio is organized?

A. Stock markets crossing a pre-defined threshold level
B. Risk in an investment goes below the threshold level
C. There is a transition from Accumulation stage to Distribution stage Correct Answer
D. The investor receives a good pay hike

Explanation:

Moving from the phase of building a fund to the phase of using it marks a big shift in strategy. At this stage, the portfolio usually needs to be realigned to focus more on creating income and reducing risk.

Marks: 1

Q4 What is the primary job of a "Point of Presence" (PoP) in the NPS system?

A. Central Record-keeping Agency (CRA)
B. Points of Presence (PoP) Correct Answer
C. NPS Trust
D. NPS Agents

Explanation:

PoPs are the front offices of the NPS. They are responsible for talking to customers, collecting their contributions, and sending that money to the bank.

Marks: 1

Q5 Which individual is generally considered more likely to take higher investment risks?

A. Someone aiming for very large sums of money in a very short time
B. Someone who is very close to their retirement date
C. Someone who has a secure and regular monthly income Correct Answer
D. Someone who is willing to take on high debt to cover any losses

Explanation:

People with steady jobs and reliable paychecks feel more comfortable taking risks. They know that even if an investment loses value, they have more money coming in every month to recover.

Marks: 1

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Sample Questions

Q1 What is the rule regarding the submission of a PAN card when joining the NPS?

Q2 Which facility is available to NPS members for managing their contributions online?

Q3 Which event usually indicates a major change in how a retirement investment portfolio is organized?

Q4 What is the primary job of a "Point of Presence" (PoP) in the NPS system?

Q5 Which individual is generally considered more likely to take higher investment risks?

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