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KYC Final

Authored by devendra goswami

Business

Professional Development

Used 11+ times

KYC Final
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27 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which of the following is not an objective of KYC?

Prevent banks being used, intentionally or unintentionally by criminal elements for money laundering.
To be aware of the identity of the customer
To be aware of the location of the customer
To manage the risks associated with the customer in a prudent manner
To sell third party products to the customer

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which year was the Prevention of Money Laundering Act (PMLA) enacted in India?

1999
2000
2001
2002
2003

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which section of the Prevention of Money Laundering Act (PMLA), 2002, defines the offence of money laundering?

Section 1
Section 2
Section 3
Section 4
Section 5

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under Section 3 of the Prevention of Money Laundering Act (PMLA), 2002, which of the following activities constitutes the offence of money laundering?

Directly or indirectly attempting to indulge in the proceeds of crime.
Knowingly assisting in the activity related to the proceeds of crime.
Being a party to the process connected with the proceeds of crime.
Projecting proceeds of crime as untainted property
All of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following stages is NOT part of the typical process of money laundering?

Placement
Layering
Integration
Collection
None

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT included in the definition of a 'person' under the Prevention of Money Laundering Act (PMLA)?

An individual
A company
A government agency
A Hindu undivided family
A firm

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of shares or capital defines a controlling ownership interest in a company for identifying a beneficial owner?

0.05
0.1
0.15
0.2
0.25

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