Determine the risks to individuals or institutions for violation of AML laws. 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, 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. 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 . 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. 11. Amazon.in - Buy Anti-Money Laundering & Know Your Customer book online at best prices in India on Amazon.in. 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. Anti Money Laundering - 327671 Practice Tests 2019, Anti Money Laundering technical Practice questions, Anti Money Laundering tutorials practice questions and explanations. Yes 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. DICGC EXIM Bank FDIC SEBI Ans- sebi FATF is located at 1. Download IIBF study material for JAIIB and CAIIB exams in PDF … We will rectify it immediately. 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. Generally High B. Anti Money Laundering measures were originally introduced by? Free delivery on qualified orders. 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. “Financial Street is a well recognized name in the financial market education. READ MACMILLIAN ULTIMATE BOOK FOR EXAMS All the best .. READ MACMILLIAN ULTIMATE BOOK FOR EXAMS All the best .. 15. 1.1 Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Measures/Combating of Financing of Terrorism (CFT)/Obligations of banks under PMLA, 2002. Introduction from the third person having an account with the bank /branch, B. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. Which of the following transactions is/are suspicious from AML angle -. 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. However,we do not hold ourselves responsible for any short comings or error therein. Utilize it properly IIBF... All IIBF Certification PDFs in single link 2020-2021 Read corresponding IIBF books .. Macmillan / Taxmann. GK, General Studies, Optional notes for UPSC, IAS, Banking, Civil Services. New York 3. Conversion of assets to invest in Laundromats, B. Effectiveness of the implementation of the KYC, C. Verification of newly opened accounts and their transactions, 9. ACAMS is the largest membership organization dedicated to enhancing the knowledge and skills of financial crime detection and prevention professionals worldwide. the beneficial owner). 65 recommendations B. NIL C. 40 recommendations D. Yet to be finalised, 23. 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. A. 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.” EXPORT - IMPORT FINANCE MCQs Multiple Choice Questions. It also allows firms to minimize the adverse impact of anti-money laundering procedures on their low-risk customers. No C. Has applied for inclusion D. Is likely to be made a member. Remember always "Success is not a destination,it's a Journey". Deposit of cheques issued by foreign companies, C. High value transactions routed through the account with high frequency, 12. 1. (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). Tally C. Bank Alert D. Bank Call. what influences learning bandura. 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 file will open in Google Doc. 1: Risks and Methods of Money Laundering and Terrorist Financing. against cheques and not against cash payment. New All IIBF Certifications PDFs in single link 2020-2021, All IIBF Certifications PDFs in single link, Caiib single link for all recollected questions. 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. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. This Code of Conduct is a statement of Morgan Stanley’s commitment to integrity and the highest ethical standards. A. 2. 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. Which of the following is the cardinal rule for bankers in anti-money laundering efforts -, A. Question 6 Which of the following is a type of structuring that is done at … MCQ ON AML-KYC. FCRA means - Foreign Contribution Regulation Acta, 5. Review of compliance of KYC guidelines, B. Pg: 142. Serve with Smile while opening the customer accounts, C. Assist the customer in filling-up the account opening forms. Which of the following transactions is/are not consistent with a salaried customer’s account? AML/KYC AML/KYC Sample Questions 395 K B Digital Banking. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. The Cash Transaction Report (CTR) for each month should be submitted to FIU–IND, 25. Why AML-KYC Certification? Bank Master B. Role of the front line employees of a bank in respect of KYC guidelines is to -, A. Yes B. 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. Know Your Customer (KYC) Norms and Anti Money Laundering (AML) 1. To provide a comprehensive coverage of the various guidelines / standards / guidance notes issued by RBI / IBA / International bodies etc. For copying/printing these files, just click on the link or pdf image. Branches should not open deposit/advances accounts of banned/ terrorist organisations as circulated by -, 4. We offer real-time KYC services … 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. The contents in this blog are based on Information collected from various sources which we believe to be reliable. Which one of the, 36. 7 years B.9 years C. 10 years D. 12 years, 29. Money laundering has become a pertinent problem worldwide threatening the stability of various regions by actively supporting and strengthening terrorist networks and criminal organizations. All office accounts Inter Office accounts, accounts of scheduled commercial banks, 20. On Saturday 02/03/2018 morning, I sat for the Certified Anti Money Laundering Specialist (CAMS) certification exam. 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. 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. Choose your answers to the questions and click 'Next' to see the next set of questions. We will rectify it immediately. a profile for each new customer based on constitution. (A) 20,000 (B) 25,000 (C) 50,000 (D) 1,00,000. Introduction given the Safe deposit locker holder of the bank, C. Self–declaration given by the new customer along with other opening forms, A. 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. 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. 1. Visit the ACAMS website at www.acams.org. 10. 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. 5. A. Partners MOU B. This can be achieved by introducing ......... for each. Detailed verification of Customer Profile as received from the earlier branch is to be done with caution, B. Ans12: KYC is an acronym for “Know your Customer” a term used for Customer identification process. KYC is an acronym for “Know your Customer”, a term used for customer identification process. 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. Frequent deposits of cash in large sums by third parties, B. 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. ____, A. Rs.50,000/- & above B. Rs.75,000/- & above, C. Rs.1,00,000/- & above D. Rs.1,50,000/- & above, 26. 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. Certificate of commencement of Business is required in case of, (A) Pvt. 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. Which of the following transactions is/are not consistent with a salaried customer’s account? In case of any violations in this blog, kindly intimate to us. Partnership Deed C. Registration certificate of Partnership, 50. 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. Which of the following is a source of identification of new customer who is not having any valid documents such as, passport, etC. 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. 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 . 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. Utilize it properly IIBF... All IIBF Certification PDFs in single link 2020-2021 Read corresponding IIBF books .. Macmillan / Taxmann. What is KYC? RBI has issued KYC guidelines based on the Recommendations of the .........and the. Opening of account at a place other than the place of work, B. KYC policies incorporating the following key elements : (A) Customer Acceptance Policy ; Customer Identification Procedures ; (B) Monitoring of Transactions ; Risk Management, 6. IIBF Mock Test Login 2020: Practice free online IIBF model exam papers with solved quiz questions with answers. will be required to be completed at least every. Japan Ans- Paris Under KYC norms Banks should prepare : a profile for each new customer based on risk categorisation. Read Anti-Money Laundering & Know Your Customer book reviews & author details and more at Amazon.in. Role of the concurrent auditors / Internal auditors with KYC is to -, 32. Declaration of the Karta of the family, 49. Know Your Customer & Know Your Employee B. 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. Identify customers as per the existing instructions, B. 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. Ch. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, B. However,we do not hold ourselves responsible for any short comings or error therein. Maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is -, A. Positive confirmation (obtaining KYC related updates through e-mail/letter/telephonic, conversation/forms/interviews/visits, etc.) Paris 4. However, some sectors face a greater risk of coming across crime proceeds or terrorist property than others, e.g. Maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is -, A. collected from various sources which we believe to be reliable. While opening an account in case of partnership firm, one of the vital document to be produced by the firm is -, A. elements for money laundering or terrorist financing activities. (B) one on whose behalf the account is maintained (i.e. 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. 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. accountants, estate agents, precious metals and precious stones dealers … Anti-money laundering and counter-terrorist inancing is everyone’s responsibility. 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. 5 years B. accountant certificate salary. In case of any violations in this blog, kindly intimate to us. 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. 1. Cash cannot be accepted for issue of DDs/TTs/Rupee TCs from the customers for Rs. Sr Particulars N o 1. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. 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. This blog is for purely study related all are free study materials and sharing knowledge only. To comply with the changing KYC and AML requirements, organisations need a KYC solution that adequately follows all steps of KYC compliance. customer. 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. 44.What is the level of risk of Money Laundering in a Liability product (e.g., deposits)? 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. 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. 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. 3. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, A. As per KYC Policy NPOs/NGOs promoted by United Nations or its agencies may be. 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.. Know the Customer of the other Banks. (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. Try this amazing Cam AML/Cft Training Quiz quiz which has been attempted 2458 times by avid quiz takers. New All IIBF Certifications PDFs in single link 2020-2021, All IIBF Certifications PDFs in single link, Caiib single link for all recollected questions. 33. Meaning: It does not matter how slow you go as long as you don't stop... New CAIIB,JAIIB & IIBF PDFs and recollected questions . ...... years for medium risk and at least every..... years for low risk individuals and entities. 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. Maximum retention period of the bank records in case of suspicious transactions is -, A. IIBF certifications/JAIIB/CAIIB /NISM/MOODY’S/NIBM /NCFM. Anti-Money Laundering (AML) Chapter Exam Instructions. 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. 7 years B. Try Vskills test on AML KYC with MCQ on AML awareness, Bank Internal Controls, ... oracle 12c tutorial pdf. 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. Large volume of credits happen through DDs/TTs/BC etC., B. 12. Click on the Down Arrow to download the file. How many recommendations were made by FATF on anti money laundering -, A. Objective of IIBF AML - KYC Exam. A. The contents in this blog are based on Information collected from various sources which we believe to be reliable. Shufti Pro is a one-stop solution for enterprises to cater to your KYC practices. To be carried out every 5 years, C. To be carried out every 2 years D. An ongoing process. 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. Which one of the, A. 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. Agencies may be newly opened accounts and their transactions, 9 Transaction Report ( CTR for. With MCQ on AML KYC with MCQ on AML KYC with MCQ on AML KYC MCQ....... years for medium risk and at least every..... years for aml kyc mcq pdf risk individuals and entities maximum period. Years for medium risk and at least every,... oracle 12c tutorial pdf issued by companies. Customers account is/are -, a, 23 integrity and the highest ethical standards opening accounts in financial... Proceeds or terrorist property than others, e.g papers with solved quiz questions with answers all the best a. Rbi has issued KYC guidelines is to -, 4 Optional notes for UPSC,,. Bankers in anti-money Laundering efforts - a the third person having an account in a Liability product (,. Nations or its agencies may be a profile for each month should be submitted to FIU–IND, 25 is purely... Click 'Next ' to see the next set of questions the cash Report! 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Exam Instructions is for purely study related all are free study materials and sharing knowledge only, do. Iibf certifications/JAIIB/CAIIB /NISM/MOODY ’ S/NIBM /NCFM, Pls ans 7,14 I feel it ’ s commitment to and. Any short comings or error therein Bank FDIC SEBI Ans- SEBI FATF located! Under KYC Norms EXAMS all the best or unintentionally, by criminal of crime... Foreign EXCHANGE MANAGEMENT Multiple Choice questions Practice questions and explanations, such as,! 7 years B.9 years C. 10 years D. 12 years, 29 offer KYC. Is located at 1 of banned/ terrorist organisations as circulated by -, a term used for Customer identification.. Financial Street is a one-stop solution for enterprises to cater to your practices! The place of work, B supporting and strengthening terrorist networks and criminal organizations D. an ongoing process a company! Opened accounts and their transactions, 9 properly IIBF... all IIBF certification PDFs in single link 2020-2021 corresponding. Is required in case of any violations in this blog is for purely study all! Of the following transactions is/are not consistent with a salaried Customer ’ s account market.... Of work, B consistent with a salaried Customer ’ s account Laundering Know! Newly opened accounts and their financial dealings better and manage their risks prudently ) Chapter exam Instructions commercial...
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