n NISM Certifications
X NISM Series X
Medium

Which statement correctly describes the Post Office Monthly Income Scheme (POMIS)?

Practice question from NISM Series XA- Investment Adviser (Level 1) Mock Test 2 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Duration is 6 years

  2. B

    Investments are locked-in for 1 year

  3. C

    Only one account can be opened per person

  4. Minimum investment is Rs. 1000

    Correct answer

Why this is the answer

POMIS requires a minimum investment of Rs. 1000, offers monthly income, and has a scheme duration of 5 years, with multiple accounts permitted.

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