21.Which form is used to open an NSC account?
A. Form-7
B. Form-1
C. Form-A
D. SB-5
22.What is the tenure of NSC – VIII Issue?
A. 6 years
B. 3 years
C. 4 years
D. 5 years
23.Which one of the following is true about NSC nomination?
A. Only one nominee allowed
B. Nomination is mandatory
C. Nomination facility is available
D. Nomination allowed only for single account
24.NSC interest is calculated:
A. Monthly and paid quarterly
B. Monthly and paid annually
C. Quarterly compounding
D. Compounded annually
25.In case of a joint account holder’s death, account can be:
A. Closed prematurely only
B. Transferred to surviving holders
C. Continued by post office
D. Converted to single
26.If NSC deposit amount is ₹4,500, what is its validity?
A. Invalid, not multiple of ₹100
B. Valid
C. Only ₹4,000 is accepted
D. Must be rounded
27.NSC can be transferred by:
A. Will
B. Arbitrary decision
C. Court order or death
D. Only within the same family
28.On court order, NSC can be:
A. Pledged
B. Refunded only
C. Transferred to as per order
D. Cancelled
29.What happens to excess deposits made beyond limit?
A. Refunded with NSC rate
B. Refunded with POSA interest
C. Refunded without interest
D. Forfeited
30.Interest under NSC scheme is:
A. Paid every 6 months
B. Paid monthly
C. Paid on maturity
D. Paid in advance
