Remember always "Success is not a destination,it's a Journey". 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. 7 years B. In case of any violations in this blog, kindly intimate to us. DICGC EXIM Bank FDIC SEBI Ans- sebi FATF is located at 1. Which of the following is the cardinal rule for bankers in anti-money laundering efforts - A. Partnership Deed C. Registration certificate of Partnership, 50. Money laundering has become a pertinent problem worldwide threatening the stability of various regions by actively supporting and strengthening terrorist networks and criminal organizations. 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. 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. (C) beneficiaries of transactions conducted by professional intermediaries, such as Stock, Brokers, Chartered Accountants, Solicitors 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. Pg: 142. Which of the following is the cardinal rule for bankers in anti-money laundering efforts -, A. Unusual activities in respect of an customers account is/are -, A. 1. paper issued on ..... for NBFCs by the .......... on Banking Supervision. The contents in this blog are based on Information collected from various sources which we believe to be reliable. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. 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.. 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 Know Your Customer & Know Your Employee B. Read Anti-Money Laundering & Know Your Customer book reviews & author details and more at Amazon.in. How many recommendations were made by FATF on anti money laundering -, A. 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. In case of any violations in this blog, kindly intimate to us. A. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, 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. 10. 4. 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. KYC procedures also enable banks/FIs to know/understand their customers and their financial dealings better and manage their risks prudently. Declaration of all family members B. Is adopting Anti Money Laundering practices compulsory for Banks in India? 3. Which of the following transactions is/are not consistent with a salaried customer’s account? Sr Particulars N o 1. While opening an account in the name of a company, the following document/s is/are to be obtained -, B. (B) one on whose behalf the account is maintained (i.e. This can be achieved by introducing ......... for each. 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. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, A. 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. 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. It also allows firms to minimize the adverse impact of anti-money laundering procedures on their low-risk customers. The file will open in Google Doc. against cheques and not against cash payment. New York 3. Deposit of cheques issued by foreign companies, C. High value transactions routed through the account with high frequency, 12. To provide a comprehensive coverage of the various guidelines / standards / guidance notes issued by RBI / IBA / International bodies etc. Identify customers as per the existing instructions, B. a profile for each new customer based on constitution. 1. 12. Bank Master B. IIBF certifications/JAIIB/CAIIB /NISM/MOODY’S/NIBM /NCFM. MCQ ON AML-KYC. Branches should not open deposit/advances accounts of banned/ terrorist organisations as circulated by -, 4. The Cash Transaction Report (CTR) for each month should be submitted to FIU–IND, 25. 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. The objective of KYC/AML/CFT guidelines is (A) to prevent banks from being used, intentionally or unintentionally, by criminal C. Know the income of the Customers of your Bank. GK, General Studies, Optional notes for UPSC, IAS, Banking, Civil Services. Which of the following is a source of identification of new customer who is not having any valid documents such as, passport, etC. (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). 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. 44.What is the level of risk of Money Laundering in a Liability product (e.g., deposits)? Which one of the, 36. 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. 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. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. Click on the Down Arrow to download the file. READ MACMILLIAN ULTIMATE BOOK FOR EXAMS All the best .. Tally C. Bank Alert D. Bank Call. KYC policies incorporating the following key elements : (A) Customer Acceptance Policy ; Customer Identification Procedures ; (B) Monitoring of Transactions ; Risk Management, 6. Role of the concurrent auditors / Internal auditors with KYC is to -, 32. Why AML-KYC Certification? As per KYC Policy NPOs/NGOs promoted by United Nations or its agencies may be. 33. Paris 4. Declaration of the Karta of the family, 49. Free delivery on qualified orders. Certificate of commencement of Business is required in case of, (A) Pvt. 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. Maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is -, A. 15. 1. 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. Introduction given the Safe deposit locker holder of the bank, C. Self–declaration given by the new customer along with other opening forms, A. Amazon.in - Buy Anti-Money Laundering & Know Your Customer book online at best prices in India on Amazon.in. 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. 1: Risks and Methods of Money Laundering and Terrorist Financing. 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. accountants, estate agents, precious metals and precious stones dealers … FCRA means - Foreign Contribution Regulation Acta, 5. To comply with the changing KYC and AML requirements, organisations need a KYC solution that adequately follows all steps of KYC compliance. “Financial Street is a well recognized name in the financial market education. 1. 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 . 7 years B.9 years C. 10 years D. 12 years, 29. Review of compliance of KYC guidelines, B. Ch. Large volume of credits happen through DDs/TTs/BC etC., B. The Patriot act does not require , which of the folllowing as a part of an appropriate AML program ? 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. 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. 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. 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. KYC ::: 1. Cash cannot be accepted for issue of DDs/TTs/Rupee TCs from the customers for Rs. Know the Customer of the other Banks. collected from various sources which we believe to be reliable. No C. Not Sure D. Will be made compulsory soon, 18. To be carried out every 5 years, C. To be carried out every 2 years D. An ongoing process. 65 recommendations B. NIL C. 40 recommendations D. Yet to be finalised, 23. Know Your Customer (KYC) Norms and Anti Money Laundering (AML) 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 lim, The contents in this blog are based on Information. This blog is for purely study related all are free study materials and sharing knowledge only. 1.1 Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Measures/Combating of Financing of Terrorism (CFT)/Obligations of banks under PMLA, 2002. RBI has issued KYC guidelines based on the Recommendations of the .........and the. The objective of KYC/AML/CFT guidelines is, (A) to prevent banks from being used, intentionally or unintentionally, by criminal. 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. EXPORT - IMPORT FINANCE MCQs Multiple Choice Questions. Role of the front line employees of a bank in respect of KYC guidelines is to -, A. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. 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. 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. 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. Download IIBF study material for JAIIB and CAIIB exams in PDF … 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.” 11. Roles and responsibilities of the Company, C. 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