1. Which of the following is NOT CORRECT concerning EPF Nomination?

Select one:

a. Marriage does not automatically revoke formerly nominated recipient(s) but they need to be renominated.

b. Nomination to approved investment schemes must be made separately to be effective and the nominee can claim directly from the fund management institutions on the members death.

2.

Francis bought 10,000 shares in Maxims at the beginning of the year at RM10 which increased to RM12 at the end of the year. Assuming net dividend of 20 sen was paid at the end of the year, how much is the return on the investment?

Select one:

a. 2%

b. 22%

c. 18.33%

d. 20%

c. EPF nomination can be witnessed by anyone including a nominee or a beneficiary of the EPF proceeds.

d. Periodic reviews concerning the nomination is needed as the nominee is the only person with the right to receive the money in case the member dies