IIBF Exam 21-35

An account holder who is not only unable to be

physically present in the bank but is also not even able

to put his/her thumb impression on the cheque/

withdrawal form due to certain physical incapacity,

wants to take cash payment. The bank will _______

• Refuse payment and advise to close down the account

• Obtain a mark on the cheque/ withdrawal form in the

  presence of two independent witnesses, one of who

  should be a responsible bank official.

• Obtain a mark on the cheque/ withdrawal form in the

  presence of any two independent witnesses known to

  the bank.

• Advise to obtain a medical certificate from Govt.

  hospital indicating the stage of physical condition.

In case of ‘Small Accounts’ an

account is opened based on _________

• A letter issued by any local government

  authority.

• An introduction by an existing customer of

  the bank.

• An introduction by two independent

  persons.

• Self-declaration by the customer in the

  presence of a designated officer of the

  bank.

Immediate Payment Service

(IMPS) offers inter-bank electronic funds

transfer through ________

i. Mobile Banking

ii. Internet Banking

iii. ATMs

iv. Credit Cards

• i and ii only

• ii and iii only

• i, ii and iii only

• i, ii iii and iv

Those persons who do not

have any of the ‘officially valid

documents’ can open “Small

Accounts” with banks. The account

balance should not exceed any point

of time.

• Rs 10,000

• Rs 25,000

• Rs 50,000

• Rs 20,000

The term Bank’s Customer

does not include _________

• Anyone coming to the bank with the

  intention of opening his account.

• Anyone conducting a banking

  transaction with the bank.

• An individual borrower of the bank.

• Any legal entity having a deposit

  account with the bank.

Which one of the following statements regarding the KYC requirements is correct?

• KYC verification is required to be done every time a customer opens another account with the bank.

• For opening an account of a student of Pakistani nationality prior approval of RBI is required

• KYC verification done once for a customer is valid for always.

• KYC verification is not required for opening an account of bank’s own staff

Where the officially valid documents furnished by the customer does not have updated address the customer is required to submit any one of the following documents, with current address, within ______ time.

• 60 days

• 45 days

• Three months

• One month

KYC means_________

• Know Your Clients

• Keep Your Customers

• Know Your Customer

• None of the above

KYC process is intended to establish identity and ______ of a customer through documentary evidence.

• Address

• Income

• Occupation

• All of the above

Which is the correct sequence of three stages of Money Laundering?

• Placement, Layering, Integration

• Layering, Cleansing, Placement

• Integration, Layering, Placement

• Placement, Laundering, Cleansing