n NISM Certifications
X NISM Series X
Medium

When relocating, how should a client update their Post Office savings accounts?

Practice question from NISM Series XB- Investment Adviser (Level 1) Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Close existing accounts and open new ones

  2. Transfer the existing account to a new post office near the new residence

    Correct answer

  3. C

    Re-issue savings certificates with new address

  4. D

    No change of address is permitted

Why this is the answer

The account can be transferred by submitting a request at the new post office, avoiding the need to close and reopen.

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