GK, General Studies, Optional notes for UPSC, IAS, Banking, Civil Services. 10. Ltd. Company (B) Public Ltd. Company, (C) Both (A) or (B) (D) Only for Service Sector Enterprises, (A) New Delhi (B) Mumbai (C) Nagpur (D) Kolkata, 19. 1. For the purpose of KYC policy, a 'Customer' is defined as : (A) A person or entity that maintains an account and/or has a business relationship. Pg: 142. New All IIBF Certifications PDFs in single link 2020-2021, All IIBF Certifications PDFs in single link, Caiib single link for all recollected questions. What is KYC? Declaration of all family members B. the beneficial owner). Cash cannot be accepted for issue of DDs/TTs/Rupee TCs from the customers for Rs. Free delivery on qualified orders. 1. Roles and responsibilities of the Company, C. Memorandum and Articles of Association of the Company, D. Instructions of the Registrar of the Compan, 22. 1.1 Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Measures/Combating of Financing of Terrorism (CFT)/Obligations of banks under PMLA, 2002. Question 6 Which of the following is a type of structuring that is done at … Money Laundering means - a) Conversion of assets to invest in Laundromats b) Conversion of money which is illegally obtained to make them legitimate c) Conversion of cash into gold to make them legitimate d) Conversion of assets into cash to make them legitimate 2. 33. All office accounts Inter Office accounts, accounts of scheduled commercial banks, 20. customer. This blog is for purely study related all are free study materials and sharing knowledge only. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. A. Paris 4. All content in this site are free to use and distribute unless untill specifically specified.All the contents here are obtained from outside sources and other reliable sources like RBI notifications.User are at their own risk of using the information. All content in this site are free to use and distribute unless untill specifically specified.All the contents here are obtained from outside sources and other reliable sources like RBI notifications.User are at their own risk of using the information. Frequently Asked Questions on KYC Norms and Anti Money Laundering Introduction. KYC is an acronym for “Know your Customer”, a term used for customer identification process. Certificate of commencement of Business is required in case of, (A) Pvt. 5. 34.Which of the following transactions is/are suspicious from AML angle -, C. Frequent deposits of cash into the account by persons other than the account holder or his authorized representative, 35. 4. Utilize it properly IIBF... All IIBF Certification PDFs in single link 2020-2021 Read corresponding  IIBF books .. Macmillan / Taxmann. Certification-questions.com expert team recommend you to prepare some notes on these topics along with it don't forget to practice Certified Anti-Money Laundering Specialist CAMS Dumps which been written by our expert team, Both these will help you a lot to clear this exam with good marks.. Anti Money Laundering measures were originally introduced by? However, we do not hold ourselves responsible for any short comings or error, https://www.facebook.com/groups/543054539662893/, https://www.irdai.gov.in/Defaulthome.aspx?page=H1, https://www.incometaxindia.gov.in/Pages/default.aspx, https://www.facebook.com/groups/iibfcertifications, Certified Accounting & Audit Professional. Role of the front line employees of a bank in respect of KYC guidelines is to -, A. KYC is an acronym for “Know your Customer”, a term used for customer identification process. Which of the following is the cardinal rule for bankers in anti-money laundering efforts - A. The objective of KYC/AML/CFT guidelines is to prevent banks from being used, intentionally or unintentionally, by criminal elements for money laundering or terrorist financing activities. Full KYC exercise will be required to be done at least every ....... years for high risk, ........... years for medium risk and ............... years for low risk individuals and entities, (A) 3, 5, 7 (B) 2, 8, 10 (C) 3, 5, 10 (D) 3, 5, 8, 11. A. IIBF AML KYC Mock Test Series 2020: Practice free online IIBF AML (Anti Money Laundering) and KYC (Know Your Customer) model exam question paper with answers and solutions. seniorific comics. Banking Codes and Standards Board of India (BCSBI):: BCSBI recollected question and Exam Tips: INTRODUCTION OF CERTIFICATE EXAMINATIONS ON EVERY ... New CAIIB BFM 2020 ,JAIIB, &IIBF PDFs, recollected questions . Review of compliance of KYC guidelines, B. Partnership Deed C. Registration certificate of Partnership, 50. 7 years B. The objective of verifying the employee life-styles by the employer is -, B. to ascertain whether the employee is having any contacts with illegal organisations, C. to ascertain whether the employee is assisting organisations banned by statutory authorities D. All of these, 8. Politically exposed persons (PEP) are .............individuals who are or have been, entrusted with prominent public functions in a ............ country, (A) Foreign, India (B) Indian, Foreign (C) Indian, Indian (D) Foreign, Foreign, 24. ____, A. Rs.50,000/- & above B. Rs.75,000/- & above, C. Rs.1,00,000/- & above D. Rs.1,50,000/- & above, 26. Choose your answers to the questions and click 'Next' to see the next set of questions. 1. 1: Risks and Methods of Money Laundering and Terrorist Financing. While opening an account in case of partnership firm, one of the vital document to be produced by the firm is -, A. To provide a comprehensive coverage of the various guidelines / standards / guidance notes issued by RBI / IBA / International bodies etc. Frequent deposits of cash in large sums by third parties, B. No C. Not Sure D. Will be made compulsory soon, 18. Determine the risks to individuals or institutions for violation of AML laws. (B) KYC procedures also enable banks to know/understand their customers and their, financial dealings better which in turn help them manage their risks prudently, (C) Either (A) or (B) (D) Both (A) and (B). 11. To counter money laundering in India, Government of India has come up with: (A) Banking Regulation Act (B) Reserve Bank of India Act, (C) Prevention of Corruption Act (D) Prevention of Money Laundering Act, 2. Utilize it properly IIBF... All IIBF Certification PDFs in single link 2020-2021 Read corresponding  IIBF books .. Macmillan / Taxmann. As per KYC Policy, Risk Categorization of Customers should be carried out at, periodicity of not less than once is _____, (A) 6 months (B) 1 year (C) 2 years (D) 5 years, 13. A One-time project B. Opening of account at a place other than the place of work, B. This blog is for purely study related all are free study materials and sharing knowledge only. KYC is an acronym for “Know your Customer” a term used for Customer identification process. Bank should ensure that any remittance of funds by way of demand draft, mail/telegraphic transfer or any other mode and issue of travellers' cheques for value, of Rupees _______ and above is effected by debit to the customer's account or. It also allows firms to minimize the adverse impact of anti-money laundering procedures on their low-risk customers. READ MACMILLIAN ULTIMATE BOOK FOR EXAMS All the best .. Submission of details of PAN (Permanent Account Number) is compulsory for Fixed Deposits, Remittances, such as, DDs / TTs/ Rupee TCs, A. Rs.10,000/- B. Rs.25,000/- C. Rs.50,000/- D. No such limit, 3. Identify customers as per the existing instructions, B. Anti Money Laundering - 327671 Practice Tests 2019, Anti Money Laundering technical Practice questions, Anti Money Laundering tutorials practice questions and explanations. Visit the ACAMS website at www.acams.org. Know Your Customer & Know Your Employee, C. Know the income of the Customers of your Bank, D. Know the Assets Position of the customers of the Bank, A. Remember always "Success is not a destination,it's a Journey". To be carried out every 5 years, C. To be carried out every 2 years D. An ongoing process. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. 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