Banking Module 6

What does KYC stand for in banking?

• Know Your Credit

• Know Your Customer

• Keep Your Cash

• Keep Your Credit

Which of the following is a Proof of Identity (POI) document for KYC?

• Utility Bill

• PAN Card

• Ration Card

• Bank Statement

What is the first step in the account opening process?

• Document Verification

• Application Submission

• Account Activation

• Initial Deposit

Which document is NOT typically required for KYC?

• Passport

• Utility Bill

• Voter ID

• Credit Score Report

What does the term 'Either or Survivor' refer to?

• A type of bank loan

• A type of joint account

• A type of credit card

• A type of savings bond

Which of the following is NOT a type of customer in banking?

• Individual Customers

• Corporate Customers

• Government Customers

• Technology Customers

Which account type requires signatures from all account holders for transactions?

• Either or Survivor

• Jointly Operated

• Former or Survivor

• NRI Account

What is a characteristic of a sole proprietorship bank account?

• Operated by multiple individuals

• Requires business registration proof

• Used for personal transactions only

• Operated without the need for any legal documentation

Which type of customer requires documents like the Trust Deed or Society Registration Certificate?

• Sole Proprietorship Customers

• Trusts, NGOs, and Societies

• Non-Resident Indians

• Minors

Which NRI account is used for income earned in India?

• NRE Account

• NRO Account

• FCNR Account

• Fixed Deposit Account