Banking Awareness for Upcoming Exams Set 22 (PMJJBY)

This set contains banking awareness questions for various upcoming exams like SBI PO, IBPS PO, Clerk, NIACL Assistant and various other competitive exams. This set contains questions from the topic: PMJJBY – Pradhan Mantri Jeevan Jyoti Bima Yojana.

1. PMJJBY is a type of ____ ?
   A) AD&D Scheme
   B) Life Insurance Scheme
   C) Pension Scheme
   D) Loan Scheme
   
   View Answer

   Option B
   Explanation: Pradhan Mantri Jeevan Jyoti Beema Yoajan(PMJJBY) is a life insurance scheme for death due to any reason.
2. What is the minimum and maximum age at which people can enroll in PMJJBY?
   A) 10-70
   B) 18-70
   C) 10-50
   D) 18-50
   
   View Answer

   Option D
   Explanation: Minimum Age – 18 years ; Maximum Age – 50 years
3. What is the premium per annum that is to be paid under PMJJBY?
   A) Rs 12/-
   B) Rs 100/-
   C) Rs 300/-
   D) Rs 330/-
   
   View Answer

     Option D
   Explanation: Premium for one years is Rs 330 per member
4. What is the Termination period of PMJJBY?
   A) When a person attains 70 years of age
   B) When a person attains 80 years of age
   C) When a person attains 50 years of age
   D) None of these
   
   View Answer

   Option D
   Explanation: The policy is valid till a person attains 55 year of age.
5. What is the death benefit under PMJJBY?
   A) Rs 50,000
   B) Rs 1,00,000
   C) Rs 2,00,000
   D) RS 4,00,000
   
   View Answer

   Option C
   Explanation: Rs.2 lakhs is payable on member’s death due to any reason
6. What is the benefit under PMJJBY for loss/disability for both the organs (either both hands/legs or eye)?
   A) Rs 50,000
   B) Rs 1,00,000
   C) Rs 2,00,000
   D) No such benefit
   
   View Answer

   Option D
   Explanation: PMJJBY is only a life insurance policy. Disablity is not covered in it unlike in PMSBY which is a AD&D policy(Accidental Death and Disability)
7. What maturity amount will a person get in PMJJBY after the policy terminates when he has attained 55 years?
   A) Rs 2,00,000
   B) Rs 1,00,000
   C) Rs 4,00,000
   D) A person will not get any such benefit
   
   View Answer

   Option D
   Explanation: PMJJBY doesnot gives maturity benefit. If a person is living even after 55 years of age, the policy will terminate and he/she will not get any money.
8. A person having which type of account can opt for PMJJBY?
   A) Saving Account
   B) Current Account
   C) Fixed Deposit Account
   D) Any one of these
   
   View Answer

   Option A
   Explanation: For enrolling under PMJJBY, a person must have saving account with a bank.
9. Under which of the following condition(s) the PMJJBY policy may terminate?
   A) On attaining age 55 years
   B) Closure of account with the Bank
   C) Insufficiency of balance in Account
   D) All of the above
   
   View Answer

   Option D
10. The coverage period of PMJJBY in a year is ____ ?
    A) 1 July to 30 June
    B) 1 June to 31 May
    C) 1 January to 31 December
    D) 1 April to 31 March
    
    View Answer

    Option B