The PFRDA Grade A Pension Sector Practice Quiz has been prepared to help candidates revise important concepts related to the pension sector for the General Stream Paper 2 exam. The quiz covers key topics such as the pension sector in India, retirement schemes, the National Pension System, Atal Pension Yojana, annuity plans, and the basics of investment.
In this blog, we have provided the PFRDA Grade A Pension Sector Practice Quiz along with a free PDF containing important questions with direct answers and solutions for better preparation.
Download PFRDA Grade A Pension Sector Practice Quiz PDF
The PFRDA Grade A Pension Sector Practice Quiz is useful for candidates preparing the Pension Sector section of Paper 2. The direct link to download the practice quiz PDF is provided below.
Attempt PFRDA Grade A Pension Sector Practice Quiz
Take a free test based on the Pension Sector and check your level of preparation for the PFRDA Grade A exam. The quiz covers important concepts related to pension schemes, retirement planning, NPS, APY, annuity plans, and investment basics.
1. Which regulatory body regulates and develops the pension sector in India?
2. In which year did PFRDA obtain statutory status through an Act of Parliament?
3. The National Pension System (then called the New Pension Scheme) was made mandatory with effect from 1 January 2004 for which category of employees?
4. Under NPS, which of the following best describes a Tier II account?
5. Who acts as the custodian of securities held under the NPS architecture?
6. Which entity currently functions as the Trustee Bank for the National Pension System?
7. What is the primary role of the NPS Trust in the pension architecture?
8. Which of the following is NOT an asset class recognised under NPS investment options?
9. Under NPS, what does Asset Class ‘A’ represent?
10. Under the NPS ‘Auto Choice’ (Life Cycle Fund) option, which life cycle fund offers the highest equity exposure at younger ages?
11. Under the Aggressive Life Cycle Fund (LC75) in NPS, what is the maximum permissible equity allocation up to age 35?
12. Under NPS, tax deduction for additional self-contribution under Section 80CCD(1B) is available up to a maximum of:
13. An employer’s contribution to an employee’s NPS account is eligible for tax deduction under which section of the Income Tax Act?
14. What is the combined ceiling under Sections 80C, 80CCC and 80CCD(1) for contributions such as those to NPS?
15. Which legacy NPS model was designed to extend pension coverage to economically disadvantaged workers in the unorganised sector?
16. As per current PFRDA norms, the NPS All Citizen Model is open to Indian citizens within which age bracket?
17. On premature exit from NPS (before superannuation), what minimum percentage of the accumulated corpus must generally be used to purchase an annuity, subject to conditions?
18. On premature exit from NPS, up to what corpus amount may the entire amount be withdrawn without mandatory annuitisation?
19. Which of the following best describes a Point of Presence (POP) under NPS?
20. Which of the following is an example of a Pension Fund Manager (PFM) registered under NPS?
Quiz Summary
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What is the PFRDA Grade A Pension Sector Paper 2 exam pattern?
Pension Sector is one of the subjects included in the PFRDA Grade A General Stream Paper 2 syllabus, along with Commerce & Accountancy, Management, Finance, Costing, Companies Act, and Economics. Candidates should prepare the Pension Sector topics carefully as questions can be asked from basic concepts, schemes, and important terms.
| Phase/Paper | Subjects Covered | Maximum Marks | No. of Questions | Duration |
| Phase 1/Paper 2 | Commerce & Accountancy, Management, Finance, Costing, Companies Act, Economics & Pension Sector | 100 | 50 | 40 minutes |
| Phase 2/Paper 2 | Commerce & Accountancy, Management, Finance, Costing, Companies Act, Economics & Pension Sector | 100 | 50 | 40 minutes |
What is the Pension Sector syllabus for PFRDA Grade A?
The Pension Sector syllabus covers important concepts related to retirement planning and pension schemes in India. Candidates should understand how the pension sector works and revise major schemes such as the National Pension System and Atal Pension Yojana.
| Topic | Important Areas for Preparation |
| Pension Sector in India | Meaning, role, importance, and development of the pension sector |
| Retirement Schemes | Types of retirement schemes and their key features |
| National Pension System | Meaning, features, benefits, and basic structure of NPS |
| Atal Pension Yojana | Eligibility, features, benefits, and pension options |
| Annuity Plans | Meaning, types, and role in retirement planning |
| Basics of Investment | Risk, return, diversification, and basic investment concepts |
What are the important topics under the Pension Sector in India?
The pension sector plays an important role in helping individuals plan their financial needs after retirement. Candidates should understand the meaning and importance of pensions and the role of pension schemes in providing financial security.
- Meaning of pension
- Importance of the pension sector
- Need for retirement planning
- Pension and retirement security
- Pension sector in India
- Role of pension schemes
- Basic pension-related terms
What are the important topics under Retirement Schemes?
Retirement schemes help individuals build financial support for their post-retirement years. Candidates should understand the basic types of retirement schemes and their purpose.
- Meaning of retirement schemes
- Need for retirement planning
- Types of retirement schemes
- Retirement savings
- Pension benefits
- Financial security after retirement
- Importance of long-term savings
What are the important topics under the National Pension System?
The National Pension System (NPS) is an important topic under the Pension Sector syllabus. Candidates should understand its basic features, purpose, and role in retirement planning.
- Meaning of National Pension System
- Features of NPS
- Benefits of NPS
- Importance of NPS for retirement planning
- Basic structure of NPS
- Retirement corpus
- NPS-related terms
- Role of NPS in retirement planning
What are the important topics under Atal Pension Yojana?
Atal Pension Yojana (APY) is a government-backed pension scheme designed to provide pension benefits, particularly to people working in the unorganised sector. Candidates should revise the basic features, eligibility, benefits, and pension options under the scheme.
- Meaning of Atal Pension Yojana
- Objective of APY
- Eligibility criteria
- Pension benefits
- Contribution under APY
- Pension options
- Key features of APY
- Importance of APY for retirement security
What are the important topics under Annuity Plans?
An annuity is a financial product that can provide regular income during retirement. Candidates should understand the meaning and purpose of annuity plans and how they are used for retirement planning. They should also revise the basic types and features of annuities.
- Meaning of annuity
- Importance of annuity plans
- Types of annuities
- Regular income after retirement
- Annuity and retirement planning
- Basic features of annuity plans
- Role of annuities in retirement income
What are the important topics under Basics of Investment?
Basic investment concepts are important for understanding retirement planning and pension products. Candidates should revise the relationship between risk and return and understand the importance of diversification.
- Meaning of investment
- Risk and return
- Types of investment
- Investment objectives
- Diversification
- Long-term investment
- Investment risk
- Importance of financial planning
Which Pension Sector topics should candidates focus on for PFRDA Grade A?
Candidates should first focus on the basic concepts of the pension sector and retirement planning. After this, they should revise important schemes such as NPS and APY along with their key features and benefits. Annuity plans and basic investment concepts should also be studied carefully.
| Priority Area | Topics to Revise |
| Pension Sector | Pension sector in India, retirement planning, pension basics |
| Retirement Schemes | Types, features, benefits, retirement savings |
| National Pension System | Features, benefits, structure, retirement corpus |
| Atal Pension Yojana | Eligibility, features, contribution, pension benefits |
| Annuity Plans | Meaning, types, features, retirement income |
| Investment Basics | Risk, return, diversification, long-term investment |
FAQs
The syllabus covers the pension sector in India, retirement schemes, NPS, APY, annuity plans, and basics of investment.
Yes, Pension Sector is included in the General Stream Paper 2 syllabus.
Candidates should study the meaning, features, benefits, structure, and role of NPS in retirement planning.
Candidates should revise the eligibility, features, benefits, contribution, and pension options under APY.
Yes, basic concepts and types of annuity plans are included in the syllabus.
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