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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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 statutory framework for establishing, developing and regulating pension funds and protecting the interests of subscribers. The Act also provides the legal framework for the National Pension System and the regulation of entities involved in its operation. The Act was enacted as Act No. 23 of 2013 and extends to the whole of India.
Candidates should study the Act section-wise and understand how different provisions connect with the functioning of PFRDA.
- Objective of the PFRDA Act, 2013
- Establishment of PFRDA
- Composition of the Authority
- Powers and functions of PFRDA
- National Pension System
- NPS intermediaries
- Subscriber protection
- Registration and regulation
- Inspection and investigation
- Penalties and adjudication
- Appeals
- Finance, accounts and audit
- Rules and regulations
- Amendments to the Act
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.
For the exam, candidates should understand the Act as a regulatory framework rather than studying it only as a list of sections. Important objectives include:
- 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 provides for the establishment and incorporation of the Pension Fund Regulatory and Development Authority. The Authority has a statutory legal identity and performs regulatory and developmental functions in the pension sector. Sections 3 onwards deal with the establishment, composition and functioning of the Authority. Candidates should revise:
- Establishment of PFRDA
- Incorporation of the Authority
- Legal status
- Head office
- Establishment of offices
- Composition of the Authority
- Appointment of members
- Powers and responsibilities
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 highly important for MCQs because questions can directly test the meaning and role of different entities. Candidates should revise terms such as Authority, National Pension System, subscriber, pension fund, intermediary, Central Recordkeeping Agency, Point of Presence, Trustee Bank, pension scheme and annuity. The main focus should be on understanding who performs which function within 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 is established and how the Authority functions as the statutory regulator of the pension sector. The composition of the Authority, appointment and tenure of members, removal provisions and meetings should also be revised. Important areas include:
- Establishment and composition of PFRDA
- Appointment, tenure and removal of members
- Duties and powers of PFRDA
- Regulation of NPS and pension schemes
- Registration and regulation of intermediaries
- Inspection and investigation
- Power to call for information
- Power to issue directions
- Subscriber protection
What should candidates study about the National Pension System?
The NPS framework is an important part of the PFRDA Act. Candidates should understand how the system works and the role of different entities involved in managing subscriber accounts and pension assets. Key areas include:
- Individual pension accounts
- Subscriber contributions
- Pension wealth
- Investment of pension assets
- Withdrawals and exit
- Annuity
- Portability
- Subscriber rights and protection
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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