Test For Guaranteed Pension Builder & Second Innings
1. There are 30 questions in this test. 2. All questions are compulsery. 3. All question carry equal marks. 4. Minimum pass marks are 80%. 5. Write your name, Location & reporting manager in first box as shown below Puneet Chathley, Panchkula, PSG
Questions and Answers
- 1.
What is the entry age in Kotak Second Innings?
- A.
0 to 65
- B.
0 to 60
- C.
18 to 60
- D.
18 to 89
Correct Answer
D. 18 to 89Explanation
The entry age for Kotak Second Innings is 18 to 89. This means that individuals between the ages of 18 and 89 are eligible to enroll in this program.Rate this question:
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- 2.
Choose Minimum Policy Term in Kotak Second Innings.
- A.
Depends on age
- B.
10 years
- C.
15 years
- D.
15 to 40 years
Correct Answer
B. 10 yearsExplanation
The minimum policy term in Kotak Second Innings depends on the age of the individual. The correct answer is 10 years, which suggests that for certain age groups, the minimum policy term is set at 10 years. This means that individuals within that age range can opt for a policy with a minimum duration of 10 years.Rate this question:
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- 3.
Write down the equity allocation in Pension Frontline Equity Fund
- A.
100%
- B.
75% to 100%
- C.
60% to 100%
- D.
40%
Correct Answer
C. 60% to 100%Explanation
The equity allocation in the Pension Frontline Equity Fund is between 60% and 100%. This means that the fund invests a minimum of 60% of its assets in equity securities, such as stocks, and can allocate up to 100% of its assets in equities. This range indicates that the fund has a high exposure to equity markets, which can potentially lead to higher returns but also higher volatility.Rate this question:
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- 4.
Can Full Money be Surrendered in Kotak Second Innings?
- A.
Yes
- B.
No
Correct Answer
A. YesExplanation
It is possible to surrender the Full Money in Kotak Second Innings.Rate this question:
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- 5.
Guaranteed Bonus available under Kotak Second Innings Plan after 10th year
- A.
15%
- B.
10%
- C.
5%
- D.
2%
Correct Answer
A. 15%Explanation
The correct answer is 15% because the question is asking about the guaranteed bonus available under the Kotak Second Innings Plan after the 10th year. The percentage represents the amount of bonus that will be given, and 15% is the highest percentage among the options provided.Rate this question:
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- 6.
Surrender Charges applicable in Kotak Second Innings Plan in 4th & 5th year
- A.
70% & 50%
- B.
10% & 5%
- C.
4% & 2%
- D.
NIL
Correct Answer
B. 10% & 5%Explanation
The surrender charges applicable in Kotak Second Innings Plan in the 4th and 5th year are 10% and 5% respectively. This means that if the policyholder decides to surrender the plan within the 4th year, they will be charged 10% of the plan's value. If they surrender in the 5th year, the charge will be reduced to 5%. This suggests that there is a penalty for early termination of the plan, with the charges decreasing over time.Rate this question:
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- 7.
Admin Charges applicable in Kotak Second Innings Plan in 12th year
- A.
0.60%
- B.
0.50%
- C.
0.30%
- D.
NIL
Correct Answer
D. NILExplanation
The correct answer is NIL. This means that there are no admin charges applicable in the 12th year of the Kotak Second Innings Plan.Rate this question:
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- 8.
No. of Free Switches available in Kotak Second Innings Plan
- A.
4
- B.
12
- C.
10
- D.
2
Correct Answer
A. 4Explanation
The correct answer is 4.Rate this question:
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- 9.
Fund Management Charge is same across all Funds
- A.
Yes
- B.
No
Correct Answer
A. YesExplanation
The statement suggests that the Fund Management Charge is the same for all funds. This means that regardless of the type of fund or the assets it holds, the management charge remains consistent. This ensures fairness and transparency in the charging structure, as investors are not subjected to varying fees based on the specific fund they choose.Rate this question:
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- 10.
What are the Fund Management Charges in Kotak Second Innings Plan
- A.
1.75%
- B.
1.35%
- C.
0.60%
- D.
2.00%
Correct Answer
B. 1.35%Explanation
The correct answer is 1.35%. This indicates that the fund management charges in the Kotak Second Innings Plan are 1.35%. Fund management charges are the fees charged by the fund manager for managing the investments in the plan. These charges are deducted from the overall returns of the plan and can impact the final returns received by the investors. A lower fund management charge indicates that a higher portion of the returns will be retained by the investors.Rate this question:
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- 11.
Can a Client, who bought Kotak Second Innings at Age 21 years, surrender the Plan after 3 years?
- A.
Yes
- B.
No
Correct Answer
A. YesExplanation
Yes, a client who bought Kotak Second Innings at age 21 years can surrender the plan after 3 years. Surrendering a plan means terminating it before the maturity period. In this case, the client has held the plan for 3 years, which is longer than the minimum surrender period. Therefore, they have the option to surrender the plan if they wish to do so.Rate this question:
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- 12.
What are the Policy Admin Charge in First Year if Premium is Rs. 2,00,000/- in Kotak Second Innings Plan?
- A.
1.00%
- B.
0.60%
- C.
0.50%
- D.
0.30%
Correct Answer
B. 0.60%Explanation
The policy admin charge in the first year for the Kotak Second Innings Plan is 0.60% of the premium amount, which is Rs. 2,00,000/-. This means that the policy admin charge for the first year will be Rs. 1,200 (0.60% of Rs. 2,00,000/-).Rate this question:
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- 13.
What are the Premium Allocation Charges for 1st Year if premium is Rs. 2,00,000/- in Kotak Second Innings Plan?
- A.
100%
- B.
NIL
- C.
10%
- D.
15%
Correct Answer
B. NILExplanation
The premium allocation charges for the first year in Kotak Second Innings Plan are NIL. This means that there are no charges deducted from the premium amount of Rs. 2,00,000/- in the first year.Rate this question:
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- 14.
Is LPP available in Kotak Second Innings Plan?
- A.
Yes
- B.
No
Correct Answer
B. NoExplanation
The given answer "No" suggests that LPP (Life Protection Plan) is not available in Kotak Second Innings Plan. This implies that the insurance policy does not offer any life protection coverage.Rate this question:
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- 15.
What is the minimum Premium in Kotak Second Innings Plan?
- A.
1,00,000
- B.
1,50,000
- C.
50,000
- D.
10,000
Correct Answer
B. 1,50,000Explanation
The minimum premium in Kotak Second Innings Plan is 1,50,000. This means that in order to enroll in this plan, one must pay a minimum premium amount of 1,50,000.Rate this question:
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- 16.
How many Funds are available in Kotak Second Innings Plan?
- A.
3
- B.
6
- C.
5
- D.
7
Correct Answer
B. 6Explanation
The correct answer is 6. This means that there are 6 funds available in the Kotak Second Innings Plan.Rate this question:
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- 17.
What is the entry age in Kotak Guaranteed Pension Builder Plan?
- A.
0 to 60
- B.
0 to 65
- C.
18 to 60
- D.
18 to 89
Correct Answer
D. 18 to 89Explanation
The entry age in Kotak Guaranteed Pension Builder Plan is 18 to 89, which means individuals between the ages of 18 and 89 are eligible to enroll in the plan. This wide age range allows individuals to start planning for their pension at a younger age and also provides an opportunity for older individuals to secure a guaranteed pension for their retirement years.Rate this question:
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- 18.
What are the Policy Terms in KotakGuaranteed Pension Builder Plan?
- A.
10 to 30
- B.
10 to 25
- C.
10,15,20,25 & 30
- D.
Depends on age
Correct Answer
C. 10,15,20,25 & 30Explanation
The policy terms in KotakGuaranteed Pension Builder Plan are 10, 15, 20, 25, and 30. This means that individuals can choose to have a policy term of either 10, 15, 20, 25, or 30 years when they opt for this plan.Rate this question:
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- 19.
Can Full Money be Surrendered in Kotak Guaranteed Pension Builder Plan after 3 years?
- A.
Yes
- B.
No
Correct Answer
A. YesExplanation
The given answer states that full money can be surrendered in the Kotak Guaranteed Pension Builder Plan after 3 years. This implies that if an individual decides to surrender their plan, they will be able to receive the entire amount of money invested in the plan after 3 years of holding it.Rate this question:
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- 20.
Minimum Premium applicable in All Premium Payment Terms in KGPB Plan?
- A.
50,000
- B.
1,00,000
- C.
10,000
- D.
15,000
Correct Answer
C. 10,000Explanation
The minimum premium applicable in all premium payment terms in the KGPB Plan is 10,000. This means that regardless of the payment term chosen by the policyholder, the minimum amount they need to pay as a premium is 10,000.Rate this question:
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- 21.
Surrender Charges applicable in Kotak Guaranteed Pension Builder for 4th & 5th year?
- A.
50% & 30%
- B.
10% & 5%
- C.
4% & 2%
- D.
NIL
Correct Answer
B. 10% & 5%Explanation
The surrender charges applicable in Kotak Guaranteed Pension Builder for the 4th and 5th year are 10% and 5% respectively. This means that if the policyholder decides to surrender the policy during the 4th year, they will be charged 10% of the policy's value as a surrender fee. If they surrender during the 5th year, the surrender fee will be 5% of the policy's value.Rate this question:
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- 22.
Admin Charges applicable in first year in Kotak GPB plan?
- A.
5.4% & 2.4%
- B.
1.5% & 1.10%
- C.
2.25% & 2.00%
- D.
10% & 5%
Correct Answer
A. 5.4% & 2.4%Explanation
The correct answer is 5.4% & 2.4%. This means that in the first year of the Kotak GPB plan, admin charges amount to 5.4% of the total and 2.4% of the total.Rate this question:
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- 23.
Is Top Up possible in Kotak Guaranteed Pension builder Plan?
- A.
Yes
- B.
No
Correct Answer
A. YesExplanation
Top Up is possible in Kotak Guaranteed Pension builder Plan.Rate this question:
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- 24.
Is Capital Guarantee available in Kotak Guaranteed Pension builder Plan?
- A.
Yes
- B.
No
Correct Answer
A. YesExplanation
Yes, Capital Guarantee is available in Kotak Guaranteed Pension builder Plan. This means that the policyholder's initial investment is protected and guaranteed to be returned at the end of the policy term. This provides a sense of security and ensures that the policyholder will not incur any losses on their investment.Rate this question:
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- 25.
What are the capital Guarantee Charges applicable in KGPB Plan?
- A.
2.00%
- B.
1.75%
- C.
0.75%
- D.
1.10%
Correct Answer
C. 0.75%Explanation
The capital guarantee charges applicable in the KGPB Plan are 0.75%. This means that 0.75% of the invested capital will be deducted as charges. These charges ensure that the investor's capital is protected and guaranteed against any potential losses. By deducting these charges, the plan provider can offer the guarantee of capital protection to the investor.Rate this question:
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- 26.
What are the Allocation Charges in case of Top Up in KGPB Plan?
- A.
2%
- B.
2.5%
- C.
0.5%
- D.
1%
Correct Answer
A. 2%Explanation
The allocation charges in case of Top Up in KGPB Plan are 2%. This means that when an individual makes a top-up contribution to their KGPB Plan, 2% of the amount contributed will be deducted as allocation charges. These charges are typically used to cover administrative and operational expenses associated with managing the plan.Rate this question:
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- 27.
What is the Fund Management Charge in all Funds in KGPB Plan?
- A.
Depends on Fund
- B.
Same in all Funds
Correct Answer
B. Same in all FundsExplanation
The correct answer is "same in all Funds." This means that the Fund Management Charge is consistent across all funds in the KGPB Plan. Regardless of the specific fund chosen, investors can expect to pay the same management fee. This provides transparency and simplifies the fee structure for investors, as they do not have to consider varying charges for different funds within the plan.Rate this question:
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- 28.
What is the minimum Premium in case of 5 years LPP in KGPB Plan?
- A.
1,00,000
- B.
50,000
- C.
10,000
- D.
15,000
Correct Answer
B. 50,000Explanation
The minimum premium in case of a 5-year LPP (Limited Pay Plan) in the KGPB Plan is 50,000. This means that the policyholder is required to pay a minimum premium of 50,000 for a period of 5 years in order to avail the benefits of the plan.Rate this question:
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- 29.
What is the Equity allocation in Pension Money Market Fund ?
- A.
0% to 75%
- B.
60 %to 40%
- C.
100%
- D.
0%
Correct Answer
D. 0%Explanation
The correct answer is 0%. This means that there is no equity allocation in the Pension Money Market Fund.Rate this question:
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- 30.
Which Income Tax Sections dealt with the KGPB Plan?
- A.
Sections 80C & 10 (10) D
- B.
Sections 80CCC & 10 (10) A
- C.
Sections 80C & 10(10)A
Correct Answer
C. Sections 80C & 10(10)AExplanation
The correct answer is Sections 80C & 10(10)A. These sections of the Income Tax Act deal with the KGPB Plan. Section 80C allows individuals to claim deductions on certain investments and expenses, including contributions made to the KGPB Plan. Section 10(10)A provides tax exemption on the maturity amount received from the KGPB Plan. Therefore, these two sections are relevant for the taxation of the KGPB Plan.Rate this question:
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