n NISM Certifications
XVII NISM Series XVII
Medium

The upper investment limit imposed by the Senior Citizen Savings Scheme restricts individuals from investing their entire retirement savings in this scheme.

Practice question from NISM Series XVII- Retirement Adviser Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    There is no fixed return guarantee

  2. B

    The returns are likely to be lower as compared to other similar products

  3. There is an upper limit on investments

    Correct answer

  4. D

    The scheme is not flexible as to payment of periodic income

Why this is the answer

The SCSS has a maximum investment cap (currently Rs. 30 lakhs), which restricts the total amount an individual can invest, limiting full deployment of retirement funds.

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