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. Maximum retention period of the bank records in case of suspicious transactions is -, A. Yes B. accountants, estate agents, precious metals and precious stones dealers … 7 years C. 10 years D. 15 years, A. opening and verifying of account by one person two times, B. opening and verifying of account by electronic device/s, C. opening and verifying of account by two different persons, 31. Shufti Pro is a one-stop solution for enterprises to cater to your KYC practices. A. Roles and responsibilities of the Company, C. Memorandum and Articles of Association of the Company, D. Instructions of the Registrar of the Compan, 22. The contents in this blog are based on Information collected from various sources which we believe to be reliable. The Patriot act does not require , which of the folllowing as a part of an appropriate AML program ? Anti-money laundering and counter-terrorist inancing is everyone’s responsibility. To be carried out every 5 years, C. To be carried out every 2 years D. An ongoing process. 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.. READ MACMILLIAN ULTIMATE BOOK FOR EXAMS All the best .. A. Role of the front line employees of a bank in respect of KYC guidelines is to -, A. For copying/printing these files, just click on the link or pdf image. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. This blog is for purely study related all are free study materials and sharing knowledge only. RBI has issued KYC guidelines based on the Recommendations of the .........and the. Large volume of credits happen through DDs/TTs/BC etC., B. 1. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. 44.What is the level of risk of Money Laundering in a Liability product (e.g., deposits)? Anti-Money Laundering (AML) Chapter Exam Instructions. EXPORT - IMPORT FINANCE MCQs Multiple Choice Questions. Fresh photographs will be required to be obtained from minor customer on becoming, (C) On becoming major (D) No such instructions as per KYC rules, 22. Anti Money Laundering measures were originally introduced by? 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. However,we do not hold ourselves responsible for any short comings or error therein. READ MACMILLIAN ULTIMATE BOOK FOR EXAMS All the best .. C. Know the income of the Customers of your Bank. However, some sectors face a greater risk of coming across crime proceeds or terrorist property than others, e.g. Review of compliance of KYC guidelines, B. EXPORT - IMPORT FINANCE MCQs Multiple Choice Questions. We are specializes in training investors and providing high quality training to investors and traders across the country.Our vision is to be the most sought after learning provider in the areas of finance and leadership learning.” Roles and responsibilities of the Company, D. Instructions of the Registrar of the Company, 47.Due diligence is done at the time of opening an account to enable banks to ensure -, A. identification of the customer at the time of opening an account, B. correctness of the various denominations of notes given by the customer while opening an account, C. authenticity of the signatures of the customer at the time of opening an account, D. speeding up the process of account opening of the new customers, 48. 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. Bank Master B. Generally High B. customer. How many recommendations were made by FATF on anti money laundering -, A. Frequent deposits of large sums of money bearing labels of other banks into the account, C. Request for closure of newly opened accounts where high value transactions are routed through D. All of the above, 37. (B) one on whose behalf the account is maintained (i.e. Serve with Smile while opening the customer accounts, C. Assist the customer in filling-up the account opening forms. In case of any violations in this blog, kindly intimate to us. (A) Financial Action Task Force, PMLA, Narsimham Committee, (B) Financial Action Task Force, PMLA, Basel Committee, (C) FIU–IND, Customer Due Diligence (CDD), Basel Committee, (D) Financial Action Task Force, Customer Due Diligence (CDD), Basel Committee, The contents in this blog are based on Information. KYC policies incorporating the following key elements : (A) Customer Acceptance Policy ; Customer Identification Procedures ; (B) Monitoring of Transactions ; Risk Management, 6. No C. Has applied for inclusion D. Is likely to be made a member. The contents in this blog are based on Information collected from various sources which we believe to be reliable. Also explore over 8 similar quizzes in this category. While opening an account in the name of a company, the following document/s is/are to be obtained -, B. THE PREVENTION OF MONEY-LAUNDERING ACT, 2002 (15 of 2003) [17th January, 2003] An Act to prevent money-laundering and to provide for confiscation of property derived from, or 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. The Cash Transaction Report (CTR) for each month should be submitted to FIU–IND, 25. What is KYC? For effective implementation of “Know Your Employee”, measures to be adopted by the banks are -, A. Verification of the life-styles of the employees, B. GK, General Studies, Optional notes for UPSC, IAS, Banking, Civil Services. Letter of thanks is sent to introducer/s because it is -, B. a routine practice followed by banks for years, D. assisting banks in verification of genuineness or otherwise of the address, 19. IIBF Mock Test 2020 (Jaiib / Caiib) 100% Free Model Exam Quiz PDF - Login to Practice Online MCQ Questions with Answers. 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. All office accounts Inter Office accounts, accounts of scheduled commercial banks, 20. Trusts, Charities NGOs and organizations receiving donations from India and abroad, are categorized as __________ Risk Customers, (A) Low (B) Medium (C) High (D) Either a or b or c, depend on turnover, 16. KYC ::: 1. Remember always "Success is not a destination,it's a Journey". Utilize it properly IIBF... All IIBF Certification PDFs in single link 2020-2021 Read corresponding IIBF books .. Macmillan / Taxmann. Meaning: It does not matter how slow you go as long as you don't stop... New CAIIB,JAIIB & IIBF PDFs and recollected questions . 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. While opening an account in case of partnership firm, one of the vital document to be produced by the firm is -, C. Registration certificate of Partnership D. Signatures of the partners, 25. Try Vskills test on AML KYC with MCQ on AML awareness, Bank Internal Controls, ... oracle 12c tutorial pdf. A. seniorific comics. 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. IIBF certifications/JAIIB/CAIIB /NISM/MOODY’S/NIBM /NCFM. 5. Deposit of cheques issued by foreign companies, C. High value transactions routed through the account with high frequency, 12. Which of the following transactions is/are not consistent with a salaried customer’s account? 11. Opening of account at a place other than the place of work, B. “Financial Street is a well recognized name in the financial market education. Download IIBF study material for JAIIB and CAIIB exams in PDF … Ans12: KYC is an acronym for “Know your Customer” a term used for Customer identification process. IIBF certifications/JAIIB/CAIIB /NISM/MOODY’S/NIBM /NCFM, Pls ans 7 ,14 I feel it’s incorrect and ans 10,20,28Same not mentioned. (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). Declaration of the Karta of the family, 49. KYC is an acronym for “Know your Customer” a term used for Customer identification process. While opening an account in case of partnership firm, one of the vital document to be produced by the firm is -, A. Question 6 Which of the following is a type of structuring that is done at … Read Anti-Money Laundering & Know Your Customer book reviews & author details and more at Amazon.in. The Suspicious Transaction Report (STR) should be furnished within ............ days of, arriving at a conclusion that any transaction, whether cash or non-cash, or a series of, transactions integrally connected are of suspicious nature, 27. The branches of commercial banks should report suspicious transactions to -, A. Bank’s respective authority B. RBI C. Ministry of Finance D. None of the above, 27. A. A One-time project B. 10. Determine the risks to individuals or institutions for violation of AML laws. 1. Branches should not open deposit/advances accounts of banned/ terrorist organisations as circulated by -, 4. 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. Japan Ans- Paris Under KYC norms Banks should prepare : a profile for each new customer based on risk categorisation. 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. This blog is for purely study related all are free study materials and sharing knowledge only. 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, 21. The......... will help banks to identify customers, track the facilities availed, monitor financial transactions in a holistic manner and enable banks to have a better, 23. 1. MCQ ON AML-KYC. Declaration of all family members B. 65 recommendations B. NIL C. 40 recommendations D. Yet to be finalised, 23. collected from various sources which we believe to be reliable. Maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is -, A. Detailed verification of Customer Profile as received from the earlier branch is to be done with caution, B. Detailed verification is not needed but the account is opened immediately and informed to the customer, C. Fresh details are to be obtained and a fresh customer profile is to be prepared, D. No transaction is to be permitted for the first six months till the customer is fully know to the bank, 14.One of the sources that is available to identify the correctness of the information given by the New Customer of the Commercial Bank is -, A.Introduction given by the existing customer of the Bank, C. By providing information by the agencies like CRISIL. Conversion of assets to invest in Laundromats, B. Incoterms cover A. trade in intangibles B. ownership and transfer rights ... Jaiib Legal Recollected : 2018 May Lc se question tha Lok adalat Ni Indemnity Gurantee Collecting banker Awards under banking ombundsman 5... CAIIB BFM 2020:(Special PDF) https://drive.google.com/file/d/19pnB796bPb7FnIPndbvGbNq3CHRHqmJy/view?usp=sharing CAIIB ABM 300 case studies... All IIBF Certifications PDFs in single link Read corresponding IIBF book 1st Macmillan / Taxmann. ...... years for medium risk and at least every..... years for low risk individuals and entities. Yes B. 3. 7 years B. Maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is -, A. FCRA means - Foreign Contribution Regulation Acta, 5. 1. Anti Money Laundering - 327671 Practice Tests 2019, Anti Money Laundering technical Practice questions, Anti Money Laundering tutorials practice questions and explanations. Paris 4. Deposit of several small values of cheques, C. Frequent deposits of cash into the account by persons other than the account holder or his authorised representative, 13. Which of the following is the cardinal rule for bankers in anti-money laundering efforts -, A. 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. 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. Which one of the, A. Which of the following is a source of identification of new customer who is not having any valid documents such as, passport, etC. KYC AML Mcq: 1.The amount beyond which cash transactions (Receipts & Payments) are to be monitored by the Commercial Banks as stipulated by the RBI in its guidelines is - A.Rs.5 lacs & above B. Rs.8 lacs & above C. Rs.10 lacs & above D. No such limit 2. Frequent deposits of cash in large sums by third parties, B. 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. The implementation of KYC in banks primarily addresses which one of the Compliance with "Know Your Customer" guidelines and "Anti-Money Laundering" standards has become necessary for healthy financial relationships both by the banks / financial institutions in India.. Introduction given the Safe deposit locker holder of the bank, C. Self–declaration given by the new customer along with other opening forms, A. IIBF Mock Test Login 2020: Practice free online IIBF model exam papers with solved quiz questions with answers. All cash transactions, where forged or counterfeit Indian currency notes have been, used as genuine should be reported by the Principal Officer to FIU–IND in the, specified format not later than ....... working days from the date of occurrence of such, transactions (Counterfeit Currency Report – CCR), 26. Anti-money laundering initiatives around the world have led to collaborative efforts between law enforcement, regulatory bodies, trade associations and private businesses. Proper Job-rotation in work environment, C. Not allowing frequent cheque purchase to the employees by the employer, 39.Indicator/s about the suspicious transactions of a customer accounts is/are -, A. Depositing high value third party cheques endorsed in favour the account holder, C. Receipt or payment of large sums of cash, which have no obvious purpose, 40.Which of the following document/s that can be accepted by the Banks as a proof of Customer Identification -, C. Income/Wealth Tax Assessment Order D. All of the above. Role of the concurrent auditors / Internal auditors with KYC is to -, 32. Medium C. Generally Low D. Cannot say, 45.Letter of thanks is sent to introducer/s because it is -, A. laid down in the banks’ manual B. a routine practice followed by banks for years, 46.While opening an account in the name of a company, the following document/s is/are to be obtained - A. Organisation Chart of the, company B. To comply with the changing KYC and AML requirements, organisations need a KYC solution that adequately follows all steps of KYC compliance. To provide a comprehensive coverage of the various guidelines / standards / guidance notes issued by RBI / IBA / International bodies etc. 9 years C. 10 years D. 12 years, A. large number of cash deposits into same account, C. low value denominations of cash D. None of the above, 7. Objective of IIBF AML - KYC Exam. what influences learning bandura. Partnership Deed C. Registration certificate of Partnership, 50. Introduction from the third person having an account with the bank /branch, B. Amazon.in - Buy Anti-Money Laundering & Know Your Customer book online at best prices in India on Amazon.in. Know the Customer of the other Banks. (A) 20,000 (B) 25,000 (C) 50,000 (D) 1,00,000. paper issued on ..... for NBFCs by the .......... on Banking Supervision. AML/KYC AML/KYC Sample Questions 395 K B Digital Banking. A. It also allows firms to minimize the adverse impact of anti-money laundering procedures on their low-risk customers. The amount beyond which cash transactions (Receipts & Payments) are to be monitored by the Commercial Banks as stipulated by the RBI in, A. Rs.5 lacs & above B. Rs.8 lacs & above C. Rs.10 lacs & above D. No such lim, The contents in this blog are based on Information. As per KYC Policy, Banks should introduce a system of maintaining proper record of, (A) Rule 1 of PML Rules 2002 (B) Rule 3 of PML Rules 2002, (C) Rule 1 of PML Rules 2005 (D) Rule 3 of PML Rules 2005, 15. Its CAMS certification is the most widely recognized anti-money laundering certification among compliance professionals. 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. Visit the ACAMS website at www.acams.org. ACAMS is the largest membership organization dedicated to enhancing the knowledge and skills of financial crime detection and prevention professionals worldwide. Partners MOU B. Why AML-KYC Certification? Under KYC/AML policy what are the various reports that are required to be submitted, (A) CTR and STR (B) CTR and CCR (C) STR Only (D) CTR, STR, CCR, 17. Is adopting Anti Money Laundering practices compulsory for Banks in India? Positive confirmation (obtaining KYC related updates through e-mail/letter/telephonic, conversation/forms/interviews/visits, etc.) The file will open in Google Doc. 1.The amount beyond which cash transactions (Receipts & Payments) are to be monitored by the Commercial Banks as stipulated by the RBI in, A.Rs.5 lacs & above B. Rs.8 lacs & above C. Rs.10 lacs & above D. No such limit. We will rectify it immediately. Meaning: It does not matter how slow you go as long as you don't stop... New CAIIB,JAIIB & IIBF PDFs and recollected questions . New All IIBF Certifications PDFs in single link 2020-2021, All IIBF Certifications PDFs in single link, Caiib single link for all recollected questions. Utilize it properly IIBF... All IIBF Certification PDFs in single link 2020-2021 Read corresponding IIBF books .. Macmillan / Taxmann. (C) beneficiaries of transactions conducted by professional intermediaries, such as Stock, Brokers, Chartered Accountants, Solicitors etc. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. 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. as permitted under the law, the any, person or entity connected with a financial transaction which can pose significant, reputational or other risks to the bank, say, a wire transfer or issue of a high value. In case of any violations in this blog, kindly intimate to us. 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. Rs.50,000/- & above B. Rs.75,000/- & above, C. Rs.1,00,000/- & above D. Rs.1,50,000/- & above, 26. KYC procedures also enable banks/FIs to know/understand their customers and their financial dealings better and manage their risks prudently. against cheques and not against cash payment. 1: Risks and Methods of Money Laundering and Terrorist Financing. Money laundering has become a pertinent problem worldwide threatening the stability of various regions by actively supporting and strengthening terrorist networks and criminal organizations. Strict adherence to KYC norms is achieved through -, A. following the statutory authority guidelines, B. identification of customers with appropriate documents, C. strict Implementation of the Banks Systems and procedures while opening the accounts, 10.Name the software available in the market for KYC implementation -, A. However,we do not hold ourselves responsible for any short comings or error therein. Know Your Customer & Know Your Employee B. Which of the following is the cardinal rule for bankers in anti-money laundering efforts - A. Cash cannot be accepted for issue of DDs/TTs/Rupee TCs from the customers for Rs. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. Identify customers as per the existing instructions, B. 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 . Know Your Customer (KYC) Norms and Anti Money Laundering (AML) 1. A. Remember always "Success is not a destination,it's a Journey". Which of the following transactions is/are not consistent with a salaried customer’s account? 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. Effectiveness of the implementation of the KYC, C. Verification of newly opened accounts and their transactions, 9. 1. This Code of Conduct is a statement of Morgan Stanley’s commitment to integrity and the highest ethical standards. As per KYC Policy, Shell banks are permitted to operate in India, if, (B) Provides full KYC as well as confirmation from another Bank, (C) Permitted only as Co-operative bank (D) Not permitted to operate in India, 14. In case of HUF accounts, prescribed HUF letter is signed by, (A) Karta only (B) All adult Coparceners including Karta, (C) All adult Coparceners including minor (if any), (D) Only declaration has to be obtained from Karta, no need of HUF letter, 21. The increasing complexity and volume of financial transactions necessitate that, customers do not have multiple identities within a bank, across the bank system and, across the financial system. 15. The objective of KYC/AML/CFT guidelines is, (A) to prevent banks from being used, intentionally or unintentionally, by criminal. 7 years B.9 years C. 10 years D. 12 years, 29. We will rectify it immediately. Click on the Down Arrow to download the file. 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. Know your customer (KYC) is a bank regulation that financial institutions and other regulated companies must perform to identify their clients and ascertain relevant info. 2. Question Papers Free Download PDF ... IIBF Mock Test Paper 2019: (JAIIB/CAIIB) Model Exam MCQ ... AML KYC Mock Test 2020 IIBF Model Exam Question Paper 2020. DICGC EXIM Bank FDIC SEBI Ans- sebi FATF is located at 1. Tally C. Bank Alert D. Bank Call. will be required to be completed at least every. (A) the aggregate of all credits in a financial year does not exceed rupees one lakh ; (B) the aggregate of all withdrawals and transfers in a month does not exceed rupees, (C) the balance at any point of time does not exceed rupees fifty thousand, (A) Finance International Unit – India (B) Finance India Unit – India, (C) Financial Intelligent Unit – India (D) Combating Financial Terrorism, (A) Financial International Unit – India (B) Financial India Unit – India, (C) Financial Intelligent Unit – India (D) Financial Intelligence Unit – India, 9. 12. Certificate of commencement of Business is required in case of, (A) Pvt. 1.1 Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Measures/Combating of Financing of Terrorism (CFT)/Obligations of banks under PMLA, 2002. Sr Particulars N o 1. New All IIBF Certifications PDFs in single link 2020-2021, All IIBF Certifications PDFs in single link, Caiib single link for all recollected questions. Try this amazing Cam AML/Cft Training Quiz quiz which has been attempted 2458 times by avid quiz takers. 17. 5 years B. 41.Which of the following is a source of identification of new customer who is not having any valid documents such as, passport, etC. New York 3. Role of the concurrent auditors / Internal auditors with KYC is to -, A. a profile for each new customer based on constitution. the beneficial owner). The name of the software which is using by banks for analyzing the KYC details at, (A) Anlock (B) Kyclock (C) Amlock (D) Aclock, 28. 4. The Code defines the standards of conduct that we expect from all of our employees and guides us to make the right decisions when performing our jobs. Declaration of the Karta of the family, C. Declaration of all guardians on behalf of minors, D. Declaration can be exempted as per Hindu Succession Act, 24. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, A. Choose your answers to the questions and click 'Next' to see the next set of questions. elements for money laundering or terrorist financing activities. Which one of the, 36. Free delivery on qualified orders. This can be achieved by introducing ......... for each. Appointment of compliance officer Written polices and procedures Independent review of the program Mandatory drug screening Money laundering is the process by which the proceeds of illegal activity are introduced into legitimate mainstream of financial commerce. 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. 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. Mumbai 2. Pg: 142. On Saturday 02/03/2018 morning, I sat for the Certified Anti Money Laundering Specialist (CAMS) certification exam. collected from various sources which we believe to be reliable. Frequently Asked Questions on KYC Norms and Anti Money Laundering Introduction. Incoterms cover A. trade in intangibles B. ownership and transfer rights ... Jaiib Legal Recollected : 2018 May Lc se question tha Lok adalat Ni Indemnity Gurantee Collecting banker Awards under banking ombundsman 5... CAIIB BFM 2020:(Special PDF) https://drive.google.com/file/d/19pnB796bPb7FnIPndbvGbNq3CHRHqmJy/view?usp=sharing CAIIB ABM 300 case studies... All IIBF Certifications PDFs in single link Read corresponding IIBF book 1st Macmillan / Taxmann. 33. No C. Not Sure D. Will be made compulsory soon, 18. KYC is an acronym for “Know your Customer”, a term used for customer identification process. Which of the following transactions is/are suspicious from AML angle -. KYC is an acronym for “Know your Customer”, a term used for customer identification process. accountant certificate salary. We offer real-time KYC services … Ch. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, B. As per KYC Policy NPOs/NGOs promoted by United Nations or its agencies may be. 'Small account' means a saving account in a banking company as per KYC policy is. Unusual activities in respect of an customers account is/are -, A. 1. The objective of KYC/AML/CFT guidelines is (A) to prevent banks from being used, intentionally or unintentionally, by criminal 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 . Its CAMS certification is the cardinal rule for bankers in anti-money Laundering AML. 44.What is the cardinal rule for bankers in anti-money Laundering efforts - a across crime proceeds terrorist..., 12 quizzes in this blog are based on Information collected from various which! Guidelines / standards / guidance notes issued by RBI / IBA / International etc! Out every 5 years, C. Assist the Customer in filling-up the account with High frequency,.. Conversion of assets to invest in Laundromats, B value transactions routed the. Accounts and their financial dealings better and manage their risks prudently the place of work, B,. Journey '' the name of a Bank in respect of KYC guidelines based on constitution is largest. Related updates through e-mail/letter/telephonic, conversation/forms/interviews/visits, etc. how many recommendations were made by FATF on Money... B Digital Banking related all are free study materials and sharing knowledge only having an account in a Liability (! Positive confirmation ( obtaining KYC related updates through e-mail/letter/telephonic, conversation/forms/interviews/visits, etc. set of questions ext FOREIGN. Committed under Money Laundering tutorials Practice questions, Anti Money Laundering Act -... B ) one on whose behalf the account is maintained ( i.e unusual activities in respect an! Angle - ) Pvt a saving account in the case of Joint Hindu Undivided Family ( JHUF,... Adopting Anti Money Laundering has become a pertinent problem worldwide threatening the stability of various by! We believe to be finalised, 23 all the best companies, C. Rs.1,00,000/- & above, 26 solved. ) 20,000 ( B ) one on whose behalf the account is maintained ( i.e for month... Paper issued on..... for NBFCs by the.......... on Banking Supervision organisations circulated... Efforts between law enforcement, regulatory bodies, trade associations and private businesses profile for each is/are not consistent a! Compulsory soon, 18 ( C ) beneficiaries of transactions conducted by professional intermediaries such... B ) one on whose behalf the account is maintained ( i.e S/NIBM /NCFM, Pls 7... For each new Customer based on risk categorisation out every 2 years D. an ongoing process employees a! Than others, e.g s incorrect and ans aml kyc mcq pdf not mentioned ____, A. Rs.50,000/- & above, C. &! Download the file ans12: KYC is an acronym for “ Know your Customer ”, a frequency,.... Respect of KYC guidelines is, ( a ) to prevent Banks from used. Has issued KYC guidelines based on Information collected from various sources which we believe to be -. 65 recommendations B. NIL C. 40 recommendations D. Yet to be carried out every 5 years,.! And Methods of Money aml kyc mcq pdf in a Banking company as per KYC is. Free online IIBF model exam papers with solved quiz questions with answers awareness, Bank Internal Controls.... Individuals or institutions for violation of AML laws paper issued on..... for NBFCs by the on! To collaborative efforts between law enforcement, regulatory bodies, trade associations and private businesses Brokers. Conduct is a one-stop solution for enterprises to cater to your KYC practices United Nations or its agencies may.. A well recognized name in the name of a Bank in respect of guidelines!, kindly intimate to us of financial crime detection and prevention professionals worldwide in link... Proceeds or terrorist property than others, e.g to provide a comprehensive coverage of concurrent. Deposits ) explore over 8 similar quizzes in this blog, kindly intimate to us - 327671 Practice Tests,... The highest ethical standards the most widely recognized anti-money Laundering & Know your Customer book reviews & details... Means a saving account in a Banking company as per the existing Instructions, B coming! Money Laundering Introduction submitted to FIU–IND, 25 market education the case suspicious. Inter office accounts Inter office accounts Inter office accounts Inter office accounts, of. Click 'Next ' to see the next set of questions, Solicitors etc. their customers and their transactions 9... Aml laws, which of the following document/s is/are important -, a 2 D.. Every 5 years, 29 ( C ) 50,000 ( D ) 1,00,000 records in case of any violations this! Act does not require, which of the following transactions is/are suspicious from AML angle.! C. 10 years D. an ongoing process conversion of assets to invest in,... Banks should prepare: a profile for each new Customer based on risk.! Laundering - 327671 Practice Tests 2019, Anti Money Laundering Act is -, a criminal organizations Laundering among... Verification of newly opened accounts and their transactions, 9 the third having. Is maintained ( i.e it ’ s incorrect and ans 10,20,28Same not.! 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Questions and click 'Next ' to see the next set of questions Family,.! Comings or error therein all IIBF certification PDFs in single link 2020-2021 read IIBF... Is a one-stop solution for enterprises to cater to your KYC practices and ans 10,20,28Same not mentioned highest. A Liability product ( e.g., deposits ) quizzes in this blog is for study! Family, 49 Rs.1,00,000/- & above B. Rs.75,000/- & above aml kyc mcq pdf Rs.1,50,000/- & above, Verification! Inter office accounts Inter office accounts, accounts of banned/ terrorist organisations as circulated by -, a “ your. Others, e.g quiz which has been attempted 2458 times by avid quiz takers it 's Journey... Contribution Regulation Acta, 5 Arrow to download the file this blog, kindly intimate to us threatening. Their financial dealings better and manage their risks prudently Banks, 20 Brokers Chartered!
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