The PFRDA Act 2013 Practice Quiz for the Grade A (Assistant Manager) post has been designed to help candidates revise the important provisions of the Pension Fund Regulatory and Development Authority Act, 2013 for the PFRDA Grade A 2026 exam. The Act forms an important part of the legal and regulatory section and requires candidates to understand the structure, powers, and functions of PFRDA along with the National Pension System framework.
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The PFRDA Act 2013 Practice Quiz PDF provides practice questions based on the important provisions of the PFRDA Act, 2013. Candidates can use the PDF for quick revision and practice after studying the relevant sections of the Act.
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| PFRDA Act 2013 Practice Quiz Set B | Download PDF |
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Attempt PFRDA Act 2013 for Grade A Exam Practice Quiz
The PFRDA Act, 2013 contains provisions relating to the establishment and functioning of PFRDA, regulation of the pension sector, subscriber protection, NPS and intermediary regulation.
1. Which statement correctly reflects the PFRDA Act, 2013 regarding short title, extent and commencement?
2. Under which section of the PFRDA Act, 2013 is the following rule or subject primarily found: The Act is called the Pension Fund Regulatory and Development Authority Act, 2013 and extends to the whole of India.
3. Which statement correctly reflects the PFRDA Act, 2013 regarding commencement mechanism?
4. Under which section of the PFRDA Act, 2013 is the following rule or subject primarily found: The Act comes into force on such date as the Central Government appoints by notification in the Official Gazette, and different dates may be appointed for different provisions.
5. Which statement correctly reflects the PFRDA Act, 2013 regarding definition of Authority?
6. Under which section of the PFRDA Act, 2013 is the following rule or subject primarily found: “Authority” means the Pension Fund Regulatory and Development Authority established under section 3(1).
7. Which statement correctly reflects the PFRDA Act, 2013 regarding definition of central recordkeeping agency?
8. Under which section of the PFRDA Act, 2013 is the following rule or subject primarily found: A central recordkeeping agency is an agency registered under section 27 to perform recordkeeping, accounting, administration and customer service functions for subscribers.
9. Which statement correctly reflects the PFRDA Act, 2013 regarding definition of intermediary?
10. Under which section of the PFRDA Act, 2013 is the following rule or subject primarily found: “Intermediary” includes a pension fund, central recordkeeping agency, NPS Trust, pension fund adviser, retirement adviser, point of presence and other connected persons or entities.
11. Which statement correctly reflects the PFRDA Act, 2013 regarding definition of NPS Trust?
12. Under which section of the PFRDA Act, 2013 is the following rule or subject primarily found: The National Pension System Trust means the Board of Trustees who hold the assets of subscribers for their benefit.
13. Which statement correctly reflects the PFRDA Act, 2013 regarding definition of point of presence?
14. Under which section of the PFRDA Act, 2013 is the following rule or subject primarily found: A point of presence is an intermediary registered under section 27 and capable of electronic connectivity with the central recordkeeping agency for receiving and transmitting funds and instructions and paying out funds.
15. Which statement correctly reflects the PFRDA Act, 2013 regarding meaning of prescribed?
16. Under which section of the PFRDA Act, 2013 is the following rule or subject primarily found: “Prescribed” means prescribed by rules made under the PFRDA Act.
17. Which statement correctly reflects the PFRDA Act, 2013 regarding legal status of PFRDA?
18. Under which section of the PFRDA Act, 2013 is the following rule or subject primarily found: PFRDA is a body corporate having perpetual succession and a common seal, with power to hold and dispose of property, contract, and sue or be sued.
19. Which statement correctly reflects the PFRDA Act, 2013 regarding composition of PFRDA?
20. Under which section of the PFRDA Act, 2013 is the following rule or subject primarily found: The Authority consists of a Chairperson, three whole-time members and three part-time members.
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What are the major changes in the PFRDA Grade A Paper 2 syllabus of General Stream?
The PFRDA Grade A General Stream Paper 2 syllabus has been expanded in 2026. Along with the existing seven subjects, the revised syllabus adds PFRDA Act, Union Budget & Economic Survey, Artificial Intelligence/Machine Learning, Media, and Marketing & Communication. Candidates who have prepared as per the previous syllabus can continue with their existing preparation and cover these five new areas.
What is the PFRDA Act, 2013?
The Pension Fund Regulatory and Development Authority Act, 2013 provides the legal framework for regulating pension funds, managing the National Pension System (NPS), and protecting subscribers’ interests. Enacted as Act No. 23 of 2013, it extends to the whole of India.
- Objective of the Act: Understand the main purpose of the Act and its role in regulating pension funds.
- Establishment of PFRDA: Learn how the Pension Fund Regulatory and Development Authority was established.
- Composition of the Authority: Understand the structure of PFRDA and the appointment of its members.
- Powers and functions of PFRDA: Learn about the Authority’s key responsibilities and regulatory powers.
- National Pension System (NPS): Understand the framework and key features of the NPS.
- NPS intermediaries: Learn about the roles of pension fund managers, Points of Presence, and other intermediaries.
- Subscriber protection: Understand how the Act protects the interests and rights of pension subscribers.
- Registration and regulation: Learn the rules for registering and regulating pension funds and other entities.
- Inspection and investigation: Understand PFRDA’s powers to inspect records and investigate matters related to pension funds.
- Penalties and adjudication: Learn about the penalties for violations and the process for deciding such cases.
- Appeals: Understand the process for challenging orders passed under the Act.
- Finance, accounts and audit: Learn about the financial management, accounting, and audit requirements of the Authority.
- Rules and regulations: Understand how rules and regulations are made to implement the provisions of the Act.
- Amendments to the Act: Study important changes made to the PFRDA Act, 2013 and their impact on pension regulation.
What are the important objectives of the PFRDA Act, 2013?
The main objective of the PFRDA Act is to provide a statutory framework for promoting old-age income security through the development and regulation of pension funds. It also aims to protect the interests of subscribers to pension schemes.
- Establishing a statutory pension regulator
- Promoting the orderly growth of the pension sector
- Regulating pension funds and related entities
- Protecting the interests of subscribers
- Providing a legal framework for NPS
- Regulating pension schemes and intermediaries
How is PFRDA established under the Act?
The PFRDA Act, 2013 provides for the establishment of the Pension Fund Regulatory and Development Authority as a legal body responsible for regulating and developing the pension sector. Sections 3 onwards cover the Authority’s establishment, structure, and functioning. Candidates should revise the following key topics:
- Establishment of PFRDA: How the Authority was set up under the Act.
- Incorporation of the Authority: The legal process of forming PFRDA as a statutory body.
- Legal status: The Authority’s legal identity and its ability to perform official functions.
- Head office: The location of PFRDA’s head office.
- Establishment of offices: Provisions for setting up offices to carry out its functions.
- Composition of the Authority: The structure and membership of PFRDA.
- Appointment of members: The process of appointing members to the Authority.
- Powers and responsibilities: The key duties and powers of PFRDA in regulating and developing the pension sector.
What should candidates study under the PFRDA Act, 2013?
For the PFRDA Grade A 2026 exam, candidates should study the Act section-wise and understand the role of PFRDA, NPS and its major intermediaries. The focus should be on important provisions that can be tested through factual and application-based MCQs.
| Area | Important Topics |
| PFRDA | Establishment, composition, appointment, tenure and removal |
| Powers & Functions | Regulation, subscriber protection, directions, inspection and investigation |
| NPS | Pension accounts, contributions, investments, withdrawals and exit |
| Intermediaries | Pension Funds, CRA, NPS Trust, Trustee Bank, PoPs and other entities |
| Regulation | Registration, suspension, cancellation and compliance |
| Enforcement | Penalties, adjudication, offences and appeals |
| Administration | Finance, accounts, audit and annual report |
| Government Powers | Directions, supersession and rule-making powers |
| Regulations | PFRDA’s regulation-making and delegation powers |
| Amendments | Important amendments and changes to the Act |
What are the important definitions under the PFRDA Act?
Definitions are important for PFRDA Grade A MCQs, as questions may test the meaning and role of key terms. Candidates should revise terms such as Authority, National Pension System (NPS), subscriber, pension fund, intermediary, Central Recordkeeping Agency, Point of Presence, Trustee Bank, pension scheme, and annuity. Focus on understanding the role of each entity in the NPS framework.
Check: What are the major changes in the PFRDA Grade A 2026
What should candidates study about PFRDA and its powers?
Candidates should understand how PFRDA was established and how it regulates the pension sector under the PFRDA Act, 2013. They should also revise the Authority’s structure, members’ appointment and tenure, removal rules, and meeting procedures. Important topics include:
- Establishment and composition of PFRDA: Structure and members of the Authority.
- Appointment, tenure and removal of members: Rules for selecting members, their term of office, and removal.
- Duties and powers of PFRDA: Key responsibilities and regulatory powers of the Authority.
- Regulation of NPS and pension schemes: How PFRDA regulates the National Pension System and pension schemes.
- Registration and regulation of intermediaries: Rules for registering and monitoring NPS intermediaries.
- Inspection and investigation: PFRDA’s powers to inspect records and investigate matters.
- Power to call for information: Authority to request necessary details from regulated entities.
- Power to issue directions: PFRDA’s ability to issue instructions to ensure compliance.
- Subscriber protection: Measures to protect the interests and rights of pension subscribers.
What should candidates study about the National Pension System?
The NPS framework is an important part of the PFRDA Act, 2013. Candidates should understand how the National Pension System works and how different entities manage subscriber accounts and pension funds. Key topics include:
- Individual pension accounts: How pension accounts are opened and managed.
- Subscriber contributions: How subscribers contribute to their pension accounts.
- Pension wealth: How pension savings grow over time.
- Investment of pension assets: How pension funds are invested.
- Withdrawals and exit: Rules for withdrawing funds and exiting the NPS.
- Annuity: The role of annuity in providing regular pension income.
- Portability: How subscribers can continue their accounts when changing jobs or sectors.
- Subscriber rights and protection: Measures to protect subscribers’ interests.
What are the major NPS intermediaries candidates should know?
Candidates should understand the entity its function relationship of the major NPS intermediaries. This can help in solving match-the-following and statement-based questions.
| Entity | Key Role |
| PFRDA | Regulates and develops the pension sector |
| NPS Trust | Performs trust-related functions and safeguards subscriber interests |
| Pension Fund | Manages pension assets |
| CRA | Maintains subscriber and transaction records |
| Trustee Bank | Performs specified banking functions |
| Point of Presence | Provides specified subscriber services |
| Custodian | Performs custody-related functions |
| Annuity Service Provider | Provides annuity-related services |
What should candidates study about registration and enforcement?
Registration, inspection, penalties and enforcement are important areas of the PFRDA Act. Candidates should understand the conditions for registration and the consequences of non-compliance.
- Registration of intermediaries
- Suspension and cancellation
- Compliance requirements
- Inspection and investigation
- Directions issued by PFRDA
- Penalties and continuing defaults
- Adjudicating Officer
- Appeals
- Offences and prosecution
What should candidates study about finance and audit of PFRDA?
Candidates should also revise the administrative and financial provisions of the Act. These include the PFRDA Fund, grants, accounts, audit and annual reporting. Important topics include:
- PFRDA Fund
- Grants and fees
- Maintenance of accounts
- Audit
- Role of CAG
- Annual financial statements
- Annual report
- Submission to the Central Government
- Laying of reports before Parliament
What is the difference between Rules and Regulations under the PFRDA Act?
The distinction between Rules and Regulations is an important area for MCQs. Candidates should remember the basic difference between the powers of the Central Government and PFRDA.
| Authority | Power |
| Central Government | Makes Rules |
| PFRDA | Makes Regulations |
Candidates should also revise the matters covered under rule-making and regulation-making powers.
What amendments to the PFRDA Act should candidates study?
Since the syllabus specifically mentions “PFRDA Act, 2013 & amendments thereto”, candidates should not study only the original Act. They should revise important amendments and understand how the provisions have changed. For each major amendment, focus on:
- Year of amendment
- Section affected
- Original provision
- Amended provision
- Purpose of amendment
- Impact on PFRDA, subscribers or intermediaries
FAQs
Yes, the PFRDA Act, 2013 and amendments thereto are part of the relevant legal and regulatory preparation area.
The Act provides a statutory framework for developing and regulating pension funds and protecting subscriber interests.
Section 3 deals with the establishment and incorporation of the Authority.
The Central Government makes Rules, while PFRDA makes Regulations under the Act.
Yes, the syllabus specifically mentions amendments, so candidates should study the latest applicable provisions.
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