IIBF KYC AML QUIZ 5

____shall be responsible for ensuring compliance, monitoring transactions, and sharing and reporting information as required under the law/regulations.

• Principal Officer

• Managing director

• CISO

• Any of the above

REs shall have a risk-based approach which includes the following

• Customers shall be categorised as low, medium and high-risk category

• Risk categorisation shall be undertaken based on parameters such as customer’s identity, social/financial status, nature of business activity, and information about the customer’s business and their location,

• The risk categorisation of a customer and the specific reasons for such categorisation shall be kept confidential

• All of the above

REs shall undertake identification of customers in the following cases

• 1. Commencement of an account-based relationship with the customer.

• 1. When there is a doubt about the authenticity or adequacy of the customer identification data it has obtained.

• 1. REs shall ensure that introduction is not to be sought while opening accounts.

• All the above

Records or the information of the customer due diligence carried out by the third party is obtained within ____ days from the third party or from the Central KYC Records Registry.

• 2

• 5

• 7

• 4

KYC Identifier under clause (ac) above, the RE shall retrieve the KYC records online from the CKYCR in accordance with Section___

• 56

• 65

• 45

• 76

Accounts opened using Aadhaar OTP based e-KYC, in non-face-to-face mode, are subject to the following conditions:

• 1. There must be a specific consent from the customer for authentication through OTP.

• As a risk-mitigating measure for such accounts, REs shall ensure that transaction alerts, OTP, etc., are sent only to the mobile number of the customer registered with Aadhaar. REs shall have a board approved policy delineating a robust process of due diligence for dealing with requests for change of mobile number in such accounts

• 1. As regards borrowal accounts, only term loans shall be sanctioned. The aggregate amount of term loans sanctioned shall not exceed rupees sixty thousand in a year.

• All the above

In case of offline verification of Aadhaar using XML file or Aadhaar Secure QR Code, it shall be ensured that the XML file or QR code generation date is not older than ____ working days from the date of carrying out V-CIP.

• 5

• 3

• 4

• 6

Small Account’, has following limitations

1. 
   

• 1. the aggregate of all credits in a financial year does not exceed rupees one lakh;

• the aggregate of all withdrawals and transfers in a month does not exceed rupees Five thousand

• 1. the balance at any point of time does not exceed rupees fifty thousand.

• A and C

• All the above

Documents required for the proprietary firm

• 1. Sales and income tax returns

• 1. Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities

• 1. Complete Income Tax Return (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax authorities

• All the above

Documents required in case of Legal Entity

• 1. Certificate of incorporation

• 1. Memorandum and Articles of Association

• the names of the relevant persons holding senior management position

• all the above