NATIONAL SAVING

OFFICER, MCQ’S
 MCQ’S N.S.O # 01

A Quaid-I-Azam, Muhammad Ali Jinnah

B Nawab Liaqat Ali Khan

Who said “Thrift as a national asset C President Sikandar Mirza
is going to play an important part in
the building up of the state. So save D None of the above
and invest in Pakistan saving
certificates”?

A
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 MCQ’S N.S.O # 02

A 1871

B 1872

C 1873
The history of National Savings
Organization dates back to the D 1876
year

c
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 MCQ’S N.S.O # 03

A 1871

B 1872

C 1873
When the Government Savings
Bank Act was promulgated in sub D 1876
continent?

c
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 MCQ’S N.S.O # 04

A Japan

During the First World War, the British
Government introduced several
Schemes for collection of funds to
meet the expenditure in
B USA
C Sub Continent
D Indonesia

c
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 MCQ’S N.S.O # 05

A Post Office Cash Certificates

B Post Office Defense Savings Certificates

During the First World War, the British C Special Savings Certificates
Government introduced _________in D Special Defence Certificates (Regd)
Subcontinent

a
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 MCQ’S N.S.O # 06

A (a) Post Office Cash Certificates

B (b) Post Office Defence Savings Certificates

During the Second World War, the

British Government introduced C Special Savings Certificates
__________in Subcontinent D Special Defence Certificates (Regd)

B
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 MCQ’S N.S.O # 07

A National Savings Executive

B National Savings Commissioner

National Savings Bureau C National Savings Deputy Commissioner

department was headed by
_________with the status of a Joint D National Savings Finance Minister

Secretary

B
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 MCQ’S N.S.O # 08

A 1931 - 24

The need to setup a separate B 1923 - 24

agency was felt and a National
Savings Bureau was established in C 1933 - 34
_______as an attached department D 1943 - 44
of the Ministry of Finance of the
undivided Government of India

d
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 MCQ’S N.S.O # 09

A Central Government

At that time the main functions of

the Savings Department were to
initiate all policy matters and issue
directives for the execution of
policy decisions of the________, and
B District Government
C Provincial Government
D Local Government

to review the Savings Schemes

from time to time

A
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 MCQ’S N.S.O # 10
These authorized agents were in
those days the only agency for
securing investment in terms of
Savings Certificates from the
general public
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A Statement is True
B Statement is False
C Neutral
D None
TRUE
11
 MCQ’S N.S.O # 11

A Government of Pakistan

B Government of Punjab

An organization with the name of C Government of KPK

‘Pakistan savings Central Bureau’ D Government of SINDH
was created and the Savings work
was entrusted to it by the

A
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 MCQ’S N.S.O # 12

When the Pakistan Savings Control Bureau was re-named as

Central Directorate of National Savings and it carried out the
functions on the lines of National Savings Bureau Simla?

(a) 1951
(b) 1953
(c) 1955
(d) 1957

B
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 MCQ’S N.S.O # 13-14

Central Directorate of National Savings was given the status of an Attached

Department in________ and was made responsible for all policy matters and
execution of various National Savings Schemes

(a) September, 1960

(b) September, 1961
(c) September, 1962
(d) September, 1964
a
Till_______ the National Savings Organization functioned as a Publicity
organization and its activities were merely promotional in nature.

A
(a) December, 1971
(b) December, 1975
(c) December, 1976
(d) December, 1977
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 MCQ’S N.S.O # 15-16
In early_________ the scope of its activities of National Savings Organization
was enlarged as the Central Directorate started selling II-Rupee Prize Bonds,
and subsequently engaged in the operations of other savings schemes.

B
(a) 1971
(b) 1972
(c) 1975
(d) 1976

At present, this Organization has a total sanctioned strength of 3377

employees in various grades and its main component units are as under:

(a) Central Directorate of National Savings, Islamabad.

(b) Directorate of Inspection and Accounts, Islamabad.
f
(c) Training Institute of National Savings, Islamabad alongwith a sub-Training Institute at Karachi.
(d) 12 Regional Directorates (located at Peshawar, Abbottabad, Islamabad, Gujranwala, Lahore,
Faisalabad, Multan, Bahawalpur, Sukkur, Hyderabad, Karachi, Quetta)
(e) 367 National Savings Centers spread throughout the country.
(f) All of these

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 MCQ’s N. S. O # 17-18
The Government of Pakistan introduced Defence Savings Certificate
scheme in the year

(a) 1964
(b) 1963
(c) 1966
(d) 1967
c
Which is the oldest scheme to benefit people who want to cater their
daily needs with ease?

A
(a) Savings Account (SA)
(b) Pensioner’s Benefit Account (PBA)
(c) Special Savings Account (SSA)
(d) None of these

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 MCQ’s N. S. O # 19-20
Who can facilitate people with this related Pakistani Prize Bond Scheme.

d
(a) National Savings Centers (NSC)
(b) Pakistan Post Office (PPO)
(c) State Bank of Pakistan (SBP)
(d) All of these

A photocopy of computerized National Identity Card (NIC) is

mandatory for issuance of Savings Account (SA)

A
(a) True
(b) False
Answer: a

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One can withdraw deposits for Savings Account with a limit of three in a week and a profit rate of 8.50% credited
on _______annually.

a
(a) 30th June
(b) 30th July
(c) 30th May
(d) 30th December

Which is for Pensioners in order to protect them from impact of rising inflation?

B
(a) Savings Account (SA)
(b) Pensioner’s Benefit Account (PBA)
(c) Special Savings Account (SSA)
(d) None of these

When Pensioner’s Benefit Account (PBA) related Pakistani Prize Bond Scheme was launched with maturity spans
up to ten years.
(a) 19th January 2002
(b) 19th January 2003
(c) 19th January 2004
(d) 19th January 2005

Special Savings Account (SSA) was introduced during February of 1990 with _______maturity span.
B
(a) Three years

A
(b) Two years
(c) Five years
(d) One year

One can withdraw deposits any time but no profit will be paid before _______completion phase in case of Special
Savings Account (SSA).

D
(a) Three months
(b) Two months
(c) Five months
(d) Six months

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Profit rate for Special Savings Account (SSA) is of

B
(a) 10.60 % per annum
(b) 11.60 % per annum
(c) 12.60 % per annum
(d) 13.60 % per annum

Defence Savings Certificate scheme is ________years’ maturity scheme with built in feature of automatic
reinvestment after the maturity.

C
(a) 16 years
(b) 15 years
(c) 10 years
(d) 30 years

The minimum investment limit of Defence Savings Certificate scheme is

(a) Rs.500/
(b) Rs.1500/
(c) Rs.1000/
(d) Rs.5500/

Defence Savings Certificates can be purchased from any

A
(a) National Savings Centre (NSC), Pakistan Post Office (PPO)

D
(b) Authorized branches of Scheduled Banks branches
(c) The offices of State Bank of Pakistan (SBP)
(d) All of these

Keeping in view the monthly requirements of the general public, this five years’ maturity scheme was launched
on

C
(a) 2nd February, 1991
(b) 2nd February, 1992
(c) 2nd February, 1993
(d) 2nd February, 1995

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The minimum investment limit in BAHBOOD SAVINGS CERTIFICATES is
(a) Rs.1,000/
(b) Rs.2,000/
(c) Rs.5,000/
(d) Rs.6,000/
C
The maximum investment limit in BAHBOOD SAVINGS CERTIFICATES is

C
(a) Rs.1,000,000/
(b) Rs.2,000,000/
(c) Rs.3,000,000/
(d) Rs.4,000,000/

Which scheme is the oldest scheme among the National Savings instruments?

C
(a) Defence Savings Certificates,
(b) Special Savings Certificates (Regd)
(c) Savings Account
(d) All of these

Which scheme has been designed to encourage the small savers and to meet their day to day needs?
(a) Defence Savings Certificates,

C
(b) Special Savings Certificates (Regd)
(c) Savings Account
(d) All of these

Which scheme is an ordinary account and frequent withdrawals ( thrice a week) can be made through this
account?

C
(a) Defence Savings Certificates,
(b) Special Savings Certificates (Regd)
(c) Savings Account
(d) All of these

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The minimum investment limit for Savings Account is
(a) Rs.100/-
(b) Rs.500/-
(c) Rs.1000/-
(d) Rs.5000/-
A
A three years maturity scheme introduced in

C
(a) February, 1970
(b) February, 1980
(c) February, 1990
(d) February, 2000

The deposits are maintained in form of an account. Profit is paid on the completion of each period of
(a) Three months

C
(b) Two months
(c) Six months
(d) Nine months

The minimum investment limit in SPECIAL SAVINGS ACCOUNT scheme is

(a) Rs.100/-

B
(b) Rs.500/-
(c) Rs.1000/-
(d) Rs.5000/-

PENSIONERS BENEFIT ACCOUNT is a ten years’ maturity scheme was launched by the Government on
(a) 19th January, 2001

C
(b) 19th January, 2002
(c) 19th January, 2003
(d) 19th January, 2005

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The deposits are maintained in the form of accounts and the profit is paid on monthly basis reckoned from the
date of

B
(a) First January after opening of the account
(b) Opening of the account
(c) First June after opening of the account
(d) None of these

The minimum investment limit for PENSIONERS BENEFIT ACCOUNT is Rs.10,000/-

A
(a) Rs.10,000/-
(b) Rs.100,000/-
(c) Rs.3,00,000/
(d) Rs.3,000,000/

The maximum investment limit for PENSIONERS BENEFIT ACCOUNT is

D
(a) Rs.10,000/-
(b) Rs.100,000/-
(c) Rs.3,00,000/
(d) Rs.3,000,000/

Prize Bonds are bearer type of security available in minimum limit of

(a) Rs.200
(b) Rs.750
(c) Rs.1,500
(d) Rs.7,500

Prize Bonds are bearer type of security available in maximum limit of

A
(a) Rs.1,500

D
(b) Rs.7,500
(c) Rs.15,000
(d) Rs.40,000

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 A
Prize Bonds are issued in series. Each series consist of one less than
(a) 1,000,000 bonds
(b) 1,00,000 bonds
(c) 1,0,000 bonds
(d) 1 000 bonds

A
Can I deposit profit cheque into my account with any scheduled bank?
(a) No
(b) Yes

Subject to the rules of the respective schemes, the nominee may opt for encashment of the certificates or transfer
of the same in his/her name, however, in the former case the nominee shall be required to furnish;
(a) an application on plain paper containing three specimen signatures of himself/herself duly verified to the
satisfaction of the officer in charge.
(b) death certificate of the deceased holder.
(c) attested photocopies of CNICs of both the deceased holder and himself.
(d) in case the certificates are intended to be transferred to nominee, an application on SC-4 supported by

F
relevant documents shall be required in addition to above requirements.
(e) Original Certificates.
(f) All of these

Do the revised rates of profit on National Savings Scheme automatically apply to the investment made prior to
such revision?

B
(a) Yes
(b) No

All National Savings Schemes (NSS) except Savings Account are term/fixed deposits; hence, the agreement
made at the time of investment remains valid upto the maturity of that particular deposit.

A
(a) True
(b) False

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Any change in profit either upwards or downwards on later issues doesn’t affect the existing investments.
(a) True
(b) False

If any investor intends to avail new rates, he/she can withdraw the investment and on payment of subject to
nominal service charges (if applicable) and then invest the same on new rates.
(a) True
(b) False

Can widowers invest in Bahbood Savings Certificates?

(a) Yes, at present the widowers can invest in Bahbood Savings Certificates
(b) No, at present the widowers cannot invest in Bahbood Savings Certificates
(c) After attaining 60 years of age they can invest in Bahbood Savings Certificates, because widowers become
automatically eligible being senior citizens
(d) None of these

Who are eligible to invest in Bahbood Savings Certificates?

(a) The widows with age of 60 or above
(b) Senior citizens aged 60 years or above
(c) Both a & b
(d) None of these

The investment made in National Savings Schemes (NSS) is fully guaranteed by the Government of Pakistan.
(a) True
(b) False

The National Savings Schemes provide the facility of joint investment upto two persons
(a) True
(b) False
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As per rules a purchaser can nominate an agent for collection of profit of the principal at his personal risk after
issuing a power of attorney duly attested by the Pakistani missions working in that country subject to entire
satisfaction of the Officer Incharge of National Savings Centre concerned.
(a) True
(b) False

Investment from abroad can be made through Bank Draft/Cheque in any foreign currency in favour of any of our
office(s), along with the application form duly filled in and the copies of Passport and National identity Card.
(a) True
(b) False

The investment in the National Savings Schemes is maintained and expressed in Pak rupee only
(a) True
(b) False

Amount received in foreign currency is converted into Pak rupee on the prevailing official exchange rate through
normal Banking channels for investment in National Savings Schemes.
(a) True
(b) False

The principal and profit accrued on a certificate issued against foreign exchange received through remittance
shall be payable abroad to the purchaser in foreign exchange if so desired by the investor.
(a) True
(b) False

What is the maximum period for claiming the prize money?

(a) Prize Bond can be claimed within 8 years
(b) Prize Bond can be claimed within 9 years
(c) Prize Bond can be claimed within 7 years
(d) Prize Bond can be claimed within 6 years

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As per rules a purchaser can nominate an agent for collection of profit of the principal at his personal risk after
issuing a power of attorney duly attested by the Pakistani missions working in that country subject to entire
satisfaction of the Officer Incharge of National Savings Centre concerned.
(a) True
(b) False

Investment from abroad can be made through Bank Draft/Cheque in any foreign currency in favour of any of our
office(s), along with the application form duly filled in and the copies of Passport and National identity Card.
(a) True
(b) False

The investment in the National Savings Schemes is maintained and expressed in Pak rupee only
(a) True
(b) False

Amount received in foreign currency is converted into Pak rupee on the prevailing official exchange rate through
normal Banking channels for investment in National Savings Schemes.
(a) True
(b) False

The principal and profit accrued on a certificate issued against foreign exchange received through remittance
shall be payable abroad to the purchaser in foreign exchange if so desired by the investor.
(a) True
(b) False

What is the maximum period for claiming the prize money?

(a) Prize Bond can be claimed within 8 years
(b) Prize Bond can be claimed within 9 years
(c) Prize Bond can be claimed within 7 years
(d) Prize Bond can be claimed within 6 years

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The prize bonds can be redeemed on the face value and there is no deduction whatsoever on the encashment
of a prize bond itself irrespective of the amount involved.
(a) True
(b) False
The prize money upto Rs.1,250/- can be claimed from
(a) National Savings Centre
(b) Branches of authorized scheduled banks
(c) Branches of State Bank of Pakistan
(d) All of these
Prize money exceeding Rs.1250/- can be claimed only from the
(a) National Savings Centre
(b) Branches of authorized scheduled banks
(c) Branches of State Bank of Pakistan
(d) All of these
Zakat is collected from investment made in
(a) Defence Savings Certificates,
(b) Special Savings Certificates (Regd)
(c) Savings Account and Special Savings Account
(d) All of these
Any assets acquired against payment in foreign currency or maintained in foreign currency are to be treated as
exempt from compulsory collection of Zakat
(a) Yes
(b) No
Is there any Zakat collection in case of reinvestment of existing Certificates?
(a) Yes
(b) No
The Government of Pakistan introduced Short Term Savings Certificate scheme in the year
(a) 2010
(b) 2011
(c) 2012
(d) 2013

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