the beneficial owner). 'Small account' means a saving account in a banking company as per KYC policy is. 11. 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. Which of the following transactions is/are suspicious from AML angle -. 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.” Declaration of the Karta of the family, 49. 5. Determine the risks to individuals or institutions for violation of AML laws. New All IIBF Certifications PDFs in single link 2020-2021, All IIBF Certifications PDFs in single link, Caiib single link for all recollected questions. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, B. Try this amazing Cam AML/Cft Training Quiz quiz which has been attempted 2458 times by avid quiz takers. Frequently Asked Questions on KYC Norms and Anti Money Laundering Introduction. Generally High B. KYC procedures also enable banks/FIs to know/understand their customers and their financial dealings better and manage their risks prudently. Yes B. 3. KYC is an acronym for “Know your Customer” a term used for Customer identification process. No C. Has applied for inclusion D. Is likely to be made a member. EXPORT - IMPORT FINANCE MCQs Multiple Choice Questions. The objective of KYC/AML/CFT guidelines is, (A) to prevent banks from being used, intentionally or unintentionally, by criminal. accountant certificate salary. IIBF certifications/JAIIB/CAIIB /NISM/MOODY’S/NIBM /NCFM. How many recommendations were made by FATF on anti money laundering -, A. Free delivery on qualified orders. Conversion of assets to invest in Laundromats, B. 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. As per KYC Policy NPOs/NGOs promoted by United Nations or its agencies may be. 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 . 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. Which of the following is the cardinal rule for bankers in anti-money laundering efforts - A. ...... years for medium risk and at least every..... years for low risk individuals and entities. 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. 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. Mumbai 2. 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. collected from various sources which we believe to be reliable. 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. ACAMS is the largest membership organization dedicated to enhancing the knowledge and skills of financial crime detection and prevention professionals worldwide. 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. For copying/printing these files, just click on the link or pdf image. Deposit of cheques issued by foreign companies, C. High value transactions routed through the account with high frequency, 12. 12. (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. This Code of Conduct is a statement of Morgan Stanley’s commitment to integrity and the highest ethical standards. Money laundering has become a pertinent problem worldwide threatening the stability of various regions by actively supporting and strengthening terrorist networks and criminal organizations. In case of any violations in this blog, kindly intimate to us. Unusual activities in respect of an customers account is/are -, A. Remember always "Success is not a destination,it's a Journey". Visit the ACAMS website at www.acams.org. 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. Branches should not open deposit/advances accounts of banned/ terrorist organisations as circulated by -, 4. C. Know the income of the Customers of your Bank. Ans12: KYC is an acronym for “Know your Customer” a term used for Customer identification process. 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. 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.. 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 . A. EXPORT - IMPORT FINANCE MCQs Multiple Choice Questions. 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. Introduction from the third person having an account with the bank /branch, B. 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. 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. 1. This blog is for purely study related all are free study materials and sharing knowledge only. 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. Know the Customer of the other Banks. 33. 7 years B.9 years C. 10 years D. 12 years, 29. Choose your answers to the questions and click 'Next' to see the next set of questions. Anti Money Laundering measures were originally introduced by? 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. 1. Role of the concurrent auditors / Internal auditors with KYC is to -, A. A. 1. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. seniorific comics. This can be achieved by introducing ......... for each. The contents in this blog are based on Information collected from various sources which we believe to be reliable. Certificate of commencement of Business is required in case of, (A) Pvt. Identify customers as per the existing instructions, B. Which one of the, A. Which one of the, 36. The Cash Transaction Report (CTR) for each month should be submitted to FIU–IND, 25. However,we do not hold ourselves responsible for any short comings or error therein. 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. Review of compliance of KYC guidelines, B. Serve with Smile while opening the customer accounts, C. Assist the customer in filling-up the account opening forms. All office accounts Inter Office accounts, accounts of scheduled commercial banks, 20. 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. KYC is an acronym for “Know your Customer”, a term used for customer identification process. Maximum retention period of the bank records in case of suspicious transactions is -, A. 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. Which of the following transactions is/are not consistent with a salaried customer’s account? what influences learning bandura. READ MACMILLIAN ULTIMATE BOOK FOR EXAMS All the best .. 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. Read Anti-Money Laundering & Know Your Customer book reviews & author details and more at Amazon.in. We offer real-time KYC services … 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. However,we do not hold ourselves responsible for any short comings or error therein. 1. Japan Ans- Paris Under KYC norms Banks should prepare : a profile for each new customer based on risk categorisation. (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. 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 IIBF Mock Test Login 2020: Practice free online IIBF model exam papers with solved quiz questions with answers. 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. 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. Positive confirmation (obtaining KYC related updates through e-mail/letter/telephonic, conversation/forms/interviews/visits, etc.) Ch. 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. While opening an account in case of partnership firm, one of the vital document to be produced by the firm is -, A. 41.Which of the following is a source of identification of new customer who is not having any valid documents such as, passport, etC. 2. Declaration of all family members B. ____, A. Rs.50,000/- & above B. Rs.75,000/- & above, C. Rs.1,00,000/- & above D. Rs.1,50,000/- & above, 26. 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. 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