IIBF KYC AML Quiz 7

In case of high risk customers, full KYC is required to be done by the bank:

• Not less than 5 years
  

• Not less than 3 years
  

• Not less than 2 years
  

• Not less than 1 year
  

KYC Templates are meant for what purpose?

• Templates prepared to facilitate collating and reporting the KYC data to the CKYCR
  

• There are two templates one for individual and one for Legal entities
  

• Templates prepared to facilitate collating and reporting the KYC data to FIUIND
  

• a & b
  

KYC guide lines have been issued by RBI under the provisions of

• Section 35 of Banking Regulation Act
  

• Section 35-A of RBI Act
  

• Section 35-A of Banking Regulation Act
  

• Section 35-A Prevention of Money Laundering Act
  

What is the minimum balance that the banks can stipulate in a Basic savings bank deposit?

• Account
  

• No such conditions can be imposed
  

• Rs 10
  

• Rs100
  

In a basic saving bank deposit account which of the following service can be allowed

• Deposit and withdrawal of cash at bank branch as well as ATMs
  

• Receipt/credit of money through electronic payment channels
  

• By means of deposit/collection of cheques drawn by Central / State government agencies and departments
  

• All the above
  

As per KYC policy of RBI which of the following instruments can be issued in cash if the amount is Rs 50000/ or above

• Travelers cheque, demand draft
  

• Demand drafts, mail–transfers
  

• Mail transfers, telegraphic transfers
  

• None of the above
  

A person who does not have an account based relationship with a bank but

undertakes Transactions with a bank is called

• Shadow customer
  

• Walk-in customer
  

• Money mule
  

• Customer
  

Banks are to keep a close watch on large size cash debit or credit transactions in deposit or loan accounts and keep a record of such transactions. For this purpose, the large size transactions mean where the amount is

• Rs.10 lac and above
  

• Less than Rs.10 lac
  

• Above Rs.10lac
  

• All the above
  

Monthly cash transaction report (CTR) is to be submitted by the bank to FIU within

• 45 days of close of the month
  

• 30 days of close of the month
  

• 25 days of close of the month
  

• 15 days of close of the month
  

Who among the following are certifying authority for certifying OVD of NRIs & PIOs

• Notary of public abroad
  

• Court magistrate
  

• Authorized officer of Bank
  

• Any of the above