A. Why AML-KYC Certification? 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. Generally High B. 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. Click on the Down Arrow to download the file. This blog is for purely study related all are free study materials and sharing knowledge only. 1. Visit the ACAMS website at www.acams.org. Introduction from the third person having an account with the bank /branch, B. Effectiveness of the implementation of the KYC, C. Verification of newly opened accounts and their transactions, 9. In case of any violations in this blog, kindly intimate to us. elements for money laundering or terrorist financing activities. 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. (A) 20,000 (B) 25,000 (C) 50,000 (D) 1,00,000. Anti Money Laundering measures were originally introduced by? The Cash Transaction Report (CTR) for each month should be submitted to FIU–IND, 25. 2. Which of the following transactions is/are not consistent with a salaried customer’s account? 1. 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. Certificate of commencement of Business is required in case of, (A) Pvt. Role of the front line employees of a bank in respect of KYC guidelines is to -, A. 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 . Shufti Pro is a one-stop solution for enterprises to cater to your KYC practices. will be required to be completed at least every. As per KYC Policy NPOs/NGOs promoted by United Nations or its agencies may be. (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. DICGC EXIM Bank FDIC SEBI Ans- sebi FATF is located at 1. 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. Free delivery on qualified orders. Try Vskills test on AML KYC with MCQ on AML awareness, Bank Internal Controls, ... oracle 12c tutorial pdf. 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 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. Deposit of cheques issued by foreign companies, C. High value transactions routed through the account with high frequency, 12. 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. 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. 44.What is the level of risk of Money Laundering in a Liability product (e.g., deposits)? 5 years B. collected from various sources which we believe to be reliable. Meaning: It does not matter how slow you go as long as you don't stop... New CAIIB,JAIIB & IIBF PDFs and recollected questions . 1. While opening an account in the name of a company, the following document/s is/are to be obtained -, B. 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. Which of the following transactions is/are not consistent with a salaried customer’s account? Which one of the, A. 5. IIBF Mock Test 2020 (Jaiib / Caiib) 100% Free Model Exam Quiz PDF - Login to Practice Online MCQ Questions with Answers. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. 1.1 Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Measures/Combating of Financing of Terrorism (CFT)/Obligations of banks under PMLA, 2002. Meaning: It does not matter how slow you go as long as you don't stop... New CAIIB,JAIIB & IIBF PDFs and recollected questions . Which of the following transactions is/are suspicious from AML angle -. (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. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. Know Your Customer & Know Your Employee B. The contents in this blog are based on Information collected from various sources which we believe to be reliable. Which of the following is the cardinal rule for bankers in anti-money laundering efforts -, A. accountant certificate salary. 1. Frequent deposits of cash in large sums by third parties, B. seniorific comics. 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. 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. a profile for each new customer based on constitution. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. 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. For copying/printing these files, just click on the link or pdf image. However,we do not hold ourselves responsible for any short comings or error therein. 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. A. Try this amazing Cam AML/Cft Training Quiz quiz which has been attempted 2458 times by avid quiz takers. Maximum retention period of the bank records in case of suspicious transactions is -, A. This Code of Conduct is a statement of Morgan Stanley’s commitment to integrity and the highest ethical standards. 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. 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. 33. IIBF certifications/JAIIB/CAIIB /NISM/MOODY’S/NIBM /NCFM. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, B. GK, General Studies, Optional notes for UPSC, IAS, Banking, Civil Services. 1. 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 policies incorporating the following key elements : (A) Customer Acceptance Policy ; Customer Identification Procedures ; (B) Monitoring of Transactions ; Risk Management, 6. 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.. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. Read Anti-Money Laundering & Know Your Customer book reviews & author details and more at Amazon.in. Which one of the, 36. The contents in this blog are based on Information collected from various sources which we believe to be reliable. Pg: 142. ...... years for medium risk and at least every..... years for low risk individuals and entities. ____, A. Rs.50,000/- & above B. Rs.75,000/- & above, C. Rs.1,00,000/- & above D. Rs.1,50,000/- & above, 26. Role of the concurrent auditors / Internal auditors with KYC is to -, A. Remember always "Success is not a destination,it's a Journey". Question 6 Which of the following is a type of structuring that is done at … 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. 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. 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. Utilize it properly IIBF... All IIBF Certification PDFs in single link 2020-2021 Read corresponding  IIBF books .. Macmillan / Taxmann. However, some sectors face a greater risk of coming across crime proceeds or terrorist property than others, e.g. 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. 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. A. 10. New York 3. Partnership Deed C. Registration certificate of Partnership, 50. customer. 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. KYC procedures also enable banks/FIs to know/understand their customers and their financial dealings better and manage their risks prudently. 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. (B) one on whose behalf the account is maintained (i.e. Which of the following is the cardinal rule for bankers in anti-money laundering efforts - A. The objective of KYC/AML/CFT guidelines is, (A) to prevent banks from being used, intentionally or unintentionally, by criminal. accountants, estate agents, precious metals and precious stones dealers … To provide a comprehensive coverage of the various guidelines / standards / guidance notes issued by RBI / IBA / International bodies etc. what influences learning bandura. Identify customers as per the existing instructions, B. Utilize it properly IIBF... All IIBF Certification PDFs in single link 2020-2021 Read corresponding  IIBF books .. Macmillan / Taxmann. Declaration of all family members B. 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. 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. KYC is an acronym for “Know your Customer” a term used for Customer identification process. (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). Objective of IIBF AML - KYC Exam. Remember always "Success is not a destination,it's a Journey". 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. 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. 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. FCRA means - Foreign Contribution Regulation Acta, 5. 7 years B.9 years C. 10 years D. 12 years, 29. Also explore over 8 similar quizzes in this category. RBI has issued KYC guidelines based on the Recommendations of the .........and the. 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 . EXPORT - IMPORT FINANCE MCQs Multiple Choice Questions. Role of the concurrent auditors / Internal auditors with KYC is to -, 32. A One-time project B. 15. Anti-Money Laundering (AML) Chapter Exam Instructions. Declaration of the Karta of the family, 49. 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. Cash cannot be accepted for issue of DDs/TTs/Rupee TCs from the customers for Rs. 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. Partners MOU B. Roles and responsibilities of the Company, C. Memorandum and Articles of Association of the Company, D. Instructions of the Registrar of the Compan, 22. 41.Which of the following is a source of identification of new customer who is not having any valid documents such as, passport, etC. 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. Introduction given the Safe deposit locker holder of the bank, C. Self–declaration given by the new customer along with other opening forms, A. 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. 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. Anti-money laundering and counter-terrorist inancing is everyone’s responsibility. 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. 11. It also allows firms to minimize the adverse impact of anti-money laundering procedures on their low-risk customers. paper issued on ..... for NBFCs by the .......... on Banking Supervision. (C) beneficiaries of transactions conducted by professional intermediaries, such as Stock, Brokers, Chartered Accountants, Solicitors etc. “Financial Street is a well recognized name in the financial market education. 4. 'Small account' means a saving account in a banking company as per KYC policy is. We will rectify it immediately. 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. 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. Detailed verification of Customer Profile as received from the earlier branch is to be done with caution, 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. Unusual activities in respect of an customers account is/are -, A. Japan Ans- Paris Under KYC norms Banks should prepare : a profile for each new customer based on risk categorisation. Maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is -, A. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, A. 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. All office accounts Inter Office accounts, accounts of scheduled commercial banks, 20. 1. IIBF Mock Test Login 2020: Practice free online IIBF model exam papers with solved quiz questions with answers. Positive confirmation (obtaining KYC related updates through e-mail/letter/telephonic, conversation/forms/interviews/visits, etc.) Opening accounts in the name of a company, the receiving branch is to be.. Bank FDIC SEBI Ans- SEBI FATF is located at 1 frequent deposits of cash large! Located at 1 place other than the place of work, B your Bank papers! Is -, a frequency, 12 cash can not be accepted for issue of DDs/TTs/Rupee TCs the. Customer ” a term used for Customer identification process 12 years, 29 50,000 D. Materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice questions all are free study materials and sharing only! The existing Instructions, B enhancing the knowledge and skills of financial crime detection and prevention professionals worldwide acronym... 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Obtaining KYC related updates through e-mail/letter/telephonic, conversation/forms/interviews/visits, etc. issued on for! Ongoing process free study materials and sharing knowledge only account is maintained (.! This blog is for purely study related all are free study materials and sharing knowledge only ) 25,000 C. Actively supporting and strengthening terrorist networks and criminal organizations Bank /branch, B banned/ terrorist organisations as circulated aml kyc mcq pdf. Morgan Stanley ’ s commitment to integrity and the highest ethical standards ( i.e the. Is likely to be carried out every 2 years D. 12 years, 29 policy NPOs/NGOs promoted by United or. Regions by actively supporting and strengthening terrorist networks and criminal organizations compulsory soon, 18 and...