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Your results are here!! for" PNB Escrow / RERA Account Scheme "
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Question 1 of 10
1. Question
Which type of real estate projects are eligible for the PNB Escrow/RERA Account Scheme?
Correct
Residential and commercial real estate projects registered or to be registered with the respective State/Union Territory RERA Authority are eligible.
Incorrect
Residential and commercial real estate projects registered or to be registered with the respective State/Union Territory RERA Authority are eligible.
Unattempted
Residential and commercial real estate projects registered or to be registered with the respective State/Union Territory RERA Authority are eligible.
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Question 2 of 10
2. Question
What is the primary purpose of Account I under the PNB RERA Account Scheme?
Correct
Account I is the Collection Account and is used to receive 100% of the amount related to the project.
Incorrect
Account I is the Collection Account and is used to receive 100% of the amount related to the project.
Unattempted
Account I is the Collection Account and is used to receive 100% of the amount related to the project.
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Question 3 of 10
3. Question
At the end of the day, in what ratio are the funds in Account I automatically transferred to Account II and Account III?
Correct
The total funds lying in Account I at EOD are automatically transferred to Account II and Account III in the ratio of 70:30 respectively.
Incorrect
The total funds lying in Account I at EOD are automatically transferred to Account II and Account III in the ratio of 70:30 respectively.
Unattempted
The total funds lying in Account I at EOD are automatically transferred to Account II and Account III in the ratio of 70:30 respectively.
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Question 4 of 10
4. Question
Which account under the PNB RERA scheme is registered with the RERA Authority?
Correct
Account II is the Remittance Account and receives 70% of the funds from Account I. It is registered with the RERA Authority.
Incorrect
Account II is the Remittance Account and receives 70% of the funds from Account I. It is registered with the RERA Authority.
Unattempted
Account II is the Remittance Account and receives 70% of the funds from Account I. It is registered with the RERA Authority.
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Question 5 of 10
5. Question
What is the main purpose of Account III in the PNB RERA Account Scheme?
Correct
Account III is the Operative Account used for day-to-day operations and receives 30% of the funds from Account I.
Incorrect
Account III is the Operative Account used for day-to-day operations and receives 30% of the funds from Account I.
Unattempted
Account III is the Operative Account used for day-to-day operations and receives 30% of the funds from Account I.
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Question 6 of 10
6. Question
What is the Monthly Average Balance (MAB) requirement for Account I and Account II?
Correct
The MAB requirement for both Account I and Account II is Nil.
Incorrect
The MAB requirement for both Account I and Account II is Nil.
Unattempted
The MAB requirement for both Account I and Account II is Nil.
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Question 7 of 10
7. Question
On which dates is the sweep facility in Account II scheduled to operate, where permitted by the State RERA Act?
Correct
The sweep frequency is on the 5th and 25th of every month. If the date is a holiday, the sweep takes place on the next working day.
Incorrect
The sweep frequency is on the 5th and 25th of every month. If the date is a holiday, the sweep takes place on the next working day.
Unattempted
The sweep frequency is on the 5th and 25th of every month. If the date is a holiday, the sweep takes place on the next working day.
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Question 8 of 10
8. Question
Which facility is NOT allowed for Account I and Account II?
Correct
Cheque book and debit card facilities are not allowed for Account I and Account II. Internet and mobile banking are available only for viewing purposes.
Incorrect
Cheque book and debit card facilities are not allowed for Account I and Account II. Internet and mobile banking are available only for viewing purposes.
Unattempted
Cheque book and debit card facilities are not allowed for Account I and Account II. Internet and mobile banking are available only for viewing purposes.
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Question 9 of 10
9. Question
What documents are required to support withdrawal of funds from the registered RERA account for project costs?
Correct
Withdrawals must be supported by certificates from an Engineer, Architect and Chartered Accountant certifying that the withdrawal is in proportion to the percentage of project completion.
Incorrect
Withdrawals must be supported by certificates from an Engineer, Architect and Chartered Accountant certifying that the withdrawal is in proportion to the percentage of project completion.
Unattempted
Withdrawals must be supported by certificates from an Engineer, Architect and Chartered Accountant certifying that the withdrawal is in proportion to the percentage of project completion.
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Question 10 of 10
10. Question
When can the balance in Account II be transferred to Account III after completion of the project?
Correct
After receiving the completion certificate issued by the competent authority and the Project Architect, the balance in Account II can be transferred to Account III.
Incorrect
After receiving the completion certificate issued by the competent authority and the Project Architect, the balance in Account II can be transferred to Account III.
Unattempted
After receiving the completion certificate issued by the competent authority and the Project Architect, the balance in Account II can be transferred to Account III.