Hi friends, here is the Questions on eMO, IMTS, IFS Money Order for IPO Exam. In the previous year Inspector Posts Exam (IPO Exam) and Postal Services Group B Exam (PS Gr.B Exam) many questions have been asked from this topic. In the upcoming IP Exam 2021 and PS Gr.B Exam 2022 many questions are expected from this topic. Here we present before you a useful MCQ on eMO, IMTS, IFS Money Order.
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Questions on eMO, IMTS, IFS Money Order for IPO Exam
1. Which among the following regarding International Money Transfer offered by Department of Posts is/are correct? i. Only inward personal remittances into India is permissible ii. It is offered in collaboration with Western Union Financial Services iii. The service is targeted to particularly fulfill the needs of NRI dependent families in India, visiting International tourists and foreign students studying in India
(A)Only ii and iii are correct
(B)Only ii is correct
(C)Only i and iii are correct
(D)All the above are correct
Correct answer
(D)All the above are correct
2. What is the maximum Service Standard time for International Money Transfer Service?
(A)10 Minutes
(B)15 Minutes
(C)20 Minutes
(D)30 Minutes
Correct answer
(A)10 Minutes
3. Under International Money Transfer process, there is a maximum limit of __ USD that can be sent at a time as per applicable RBI regulations which must however be only for personal use?
(A)1000 USD
(B)2500 USD
(C)500 USD
(D)1500 USD
Correct answer
(B)2500 USD
4. Under International Money Transfer, amounts up to INR.__ may be paid to the beneficiary in cash?
(A)INR.20,000
(B)INR.10,000
(C)INR.1,00,000
(D)INR.50,000
Correct answer
(D)INR.50,000
5. Under IMTS, how the amount exceeding Rs.50,000/- is paid to the beneficiary?
(A)paid by means of account payee Cheque
(B)credited directly to the Savings Account standing in the Post Office in the name of the beneficiary
(C)Both A and B
(D)None of these
Correct answer
(C)Both A and B
6. In respect of which category, amounts in higher of Rs.50,000/- can be paid in cash under International Money Transfer?
(A)beneficiary having no POSB account
(B)foreign tourists
(C)if cash is send from European Countries
(D)All the above
Correct answer
(B)foreign tourists
7. How many transactions can be received by a single beneficiary in a calendar year under International Money Transfer?
(A)50
(B)12
(C)24
(D)30
Correct answer
(D)30
8. Under International Money Transfer, Post Offices have been directed to treat the payee as?
(A)”Reliable Customers”
(B)”First Come First Serve Customers”
(C)”Most Favoured Customers”
(D)All the above
Correct answer
(C)”Most Favoured Customers”
9. International Financial System (IFS) is software developed by?
(A)APPU
(B)Department of Posts, Govt.of India
(C)UPU
(D)Western Union
Correct answer
(C)UPU
10. At present IFS Money Order is available to? i. La Poste Group, France ii. UAE
(A)Only i
(B)Only ii
(C)Both i and ii
(D)None of the above
Correct answer
(C)Both i and ii
11. Remittances received under IFS Money Order service are being paid through?
(A)eMO service
(B)POSB
(C)IPPB
(D)All the above
Correct answer
(A)eMO service
12. Under IFS Money Order remittances up to INR ____can be received in cash?
(A)50,000
(B)1,00,000
(C)25,000
(D)10,000
Correct answer
(A)50,000
13. What is the Maximum no.of transactions per person per year under IFS Money Order?
(A)50
(B)25
(C)30
(D)10
Correct answer
(C)30
14. The amount for which a single money order may be issued must not exceed Rs……..?
(A)50,000/-
(B)10000/-
(C)5000/-
(D)500/-
Correct answer
(C)5000/-
15. Which among the following with regard to alteration in address or place of payment under eMO is/are correct? i. address of the payee or name of post office at which the order was originally made payable, shall be changed ii. required change will be made without additional charge iii. remitter should apply in writing to the Post Office at which the order was issued
(A)All the above are correct
(B)Only i and iii are correct
(C)Only ii is correct
(D)Only i and ii are correct
Correct answer
(A)All the above are correct
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