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WorksheetsKYC_IT ACT_SAMPLE QUESTIONS_2019
Total questions: 50
Worksheet time: 25mins
Name
Class
Date
1.
Sri. ABC Kumar has fraudulently encashed a cheque of Rs.10.00 lac. Now the account holder decides to file case under IT act. Can the account holder proceed under the provisions of extant IT act?
a)
Yes, Now account holder can file a case under IT act
b)
He cannot file a IT , since IT Act has no jurisdiction over Negotiable Instruments
c)
Yes, he can file both IT ACT as well as other acts
d)
None of the above
2.
What do you mean by Attribution of electronic messages as per IT act?
a)
Attribution of Electronic messages means assigning an electronic message in the name of somebody
b)
Attribution of Electronic messages means send a link to the originator of message
c)
Attribution of Electronic messages means send a reply to the originator of message
d)
Attribution of Electronic messages means linking an electronic message or transaction to its originator in a way that the originator is prevented from repudiating it
3.
Sri. Ramakrishna, NRI, is committed an internet account fraud from Foreign Land. Whether action can be initiated against him by Indian Authorities as per extant IT Act?
a)
Since Fraud has committed form foreign land, We cannot initiate any action against him.
b)
Action can be initiated against him when he visits India next time
c)
Yes, as regards contravention or offence committed by any person, it also extends outside India
d)
None of the above
4.
Branch Manager of one of our branches has sent an official communication to their controllers through mail. He pasted his signature along with the communication. Is it in correct or order?
a)
Since he pasted his signature image on the mail, it is in order
b)
No, it is not order
c)
No, pasting of image of signature or soft copy of signature not correct, but it should be through using Private and Public key mechanism prescribed in IT ACT
d)
None of the above
5.
Sri.Ram sends to Sri.Krishna a quotation or offer for a particular service to be rendered by Sri. Ram. Sri. Ram has stipulated an advance payment of a certain percentage of the value of service offered. Sri.Krishna makes payment of advance to Sri.Ram. Whether a separate acknowledgement is required to be sent by Krishna to Ram for having accepted the offer?
a)
It can be inferred from advance payment made that Krishna has received, acknowledged and accepted the offer made by Ram. In such a case, there is no need for a separate acknowledgement by Krishna.
b)
Specific acknowledgement of Krishna required.
c)
Depends on terms of contract
d)
None of the above.
6.
You received the electronic communication from one organization. The document was digitally signed. How do you know that this digital signature is secure?
a)
The digital signature was unique to the subscriber, identification of the subscriber was possible
b)
It was created under or using methods under the exclusive control of the subscriber
c)
The signature could be linked to the electronic record to which it relates in such a manner that altering the record would invalidate the signature
d)
All the above
7.
There are provisions with regard to time of dispatch of email as per IT act. Which statement is true in this regard as per IT act?
a)
An e-mail sent by the originator is deemed to have been dispatched at the time it enters the email server of the addressee.
b)
An e-mail sent by the originator is deemed to have been dispatched at the time it is opened by the addressee.
c)
An email sent by the originator is deemed to have been dispatched at the time it is acknowledged by the addressee.
d)
An email sent by the originator is deemed to have been dispatched at the time when acknowledgment received back by sender.
8.
There are rules with regard to Place of Dispatch in the IT ACT. Which statement is correct in respect to place of dispatch as per IT Act for electronic record?
a)
An electronic record is deemed to be dispatched from the place where the sender or originator has his place of residence.
b)
An electronic record is deemed to be dispatched from the place where the sender or originator has specified the place of dispatch.
c)
An electronic record is deemed to be dispatched from the place where the sender or originator has his place of business.
d)
None of the above.
9.
What are the rules with regard to place of receipt as per IT Act for electronic record?
a)
An electronic record is deemed to have been received at the place where the addressee has his place of business
b)
An electronic record is deemed to have been received at the place where the addressee has his place of residence
c)
Any place where addressee is located
d)
None of the above.
10.
If any person is proved that he is tampering with computer source code and what will be the punishment for his act under IT act?
a)
Imprisonment of up to 3 years and/or fine of up to Rs. 2 lakhs
b)
Imprisonment of up to 10 years and/or fine of up to Rs. 1 lakh
c)
Imprisonment of up to 7 years and/or fine of up to Rs. 50 lakhs
d)
It does not attract any punishment
11.
There is a effect on RBI ACT 1934 because of IT Act 2000. What is this?
a)
Empowering the RBI to permit Maintenance of accounts of Banks in electronic form
b)
Facilitating Electronic Funds Transfer between Banks and Financial Institutions by introducing the EFT infrastructure in our country by RBI
c)
Empowering the RBI to permit Banks and Financial Institutions to treat e-mails as binding
d)
Empowering the RBI to permit Banks and Financial Institutions to publish yearly results electronically
12.
Government Departments want to pierce the confidentiality of electronic documents by decrypting them. Is it permitted or not as per IT act?
a)
IT Act clearly mentioned that Government departments or bodies cannot pierce the confidentiality of electronic documents
b)
Yes. Government is empowered to decrypt the electronic documents in general
c)
Yes. But Government can do so only in specific circumstances
d)
Being electronic records confidentiality need not be maintained
13.
What is the professed role of Digital India Program?
a)
Faceless, Cashless & Paperless
b)
Hassel free, Cashless, Paperless and electronic banking
c)
Faceless, Cashless & Digital Banking
d)
None of the above
14.
Vision of Digital India Program is (a) To provide the citizens of India seamless digital payments (b) To provide the citizens of India seamless mobile payments © To provide the citizens of India seamless online payments (d) To provide basic banking facilities. Out of above which are applicable for Vison of Digital India Program?
a)
(a), (b) and ©
b)
(b), © and (d)
c)
©, (d), (a)
d)
All (a), (b), © and (d)
15.
Digital Payment system, which was the vision of Digital India, shall have the following qualities.
a)
Convenient, easy and affordable
b)
Quick and secured
c)
Both first and second option
d)
Either first or second option
16.
Which Ministry of Government of India is entrusted with the responsibility of promoting the financial transactions digitally?
a)
Ministry of Finance (MoF)
b)
Ministry of Banking (MoB)
c)
Ministry of Information Technology (MoIT)
d)
None of the options is correct
17.
Recently Government of India, a scheme has been introduced to promote digital transactions and under this scheme Government of India will provide 0.5 % incentive on transaction amount for retailers, who accept digital payments based on biometric authentication. What is the name of the scheme?
a)
BHIM-Cashback Scheme for merchants
b)
BHIM-Aadhaar Promotional Scheme
c)
BHIM-Referral Bonus Scheme for merchants
d)
All of the above
18.
One of incentives given to merchant under BHIM-Cashback Scheme for merchants is
a)
if a retail merchant generates minimum 50 transactions through BHIM app, he will be getting incentive of maximum Rs.1000/- per calendar month.
b)
if a retail merchant generates minimum 1000 transactions through BHIM app, he will be getting incentive of maximum Rs.1000/- per calendar month.
c)
if a retail merchant generates minimum 100 transactions through BHIM app, he will be getting incentive of maximum Rs.100/- per calendar month.
d)
All of the above
19.
Digital Jagriti program of Government of India, is conducted by Common Service Centre. What is the purpose of Digital Jagriti?
a)
Increasing Digital Transactions
b)
Creating Awareness for Digital Financial Inclusion and Access
c)
Creating Awareness about various forms of electronic payments
d)
Developing Apps for Digital Transactions
20.
DigiShala – free educational channel in English, Hindi and other regional languages is conducted through Doordarshan an initiative of Government of India. What is the purpose of DigiShala?
a)
Increasing Digital Transactions
b)
Creating Awareness for Digital Financial Inclusion and Access
c)
Creating Awareness about various forms of electronic payments
d)
Developing Apps for Digital Transactions
21.
What is the Income Tax assessment rules on turnover basis up to Rs.2 crores?
a)
8% on cash Turnover
b)
6% on digital Turnover
c)
Both First and Second Options are correct
d)
Neither of First or Second option is correct.
22.
RBI has relaxed norms on Additional Factor Authentication for certain digital payments up to Rs.2000 per transaction. What is the effect of this?
a)
It will be applicable to Card Present Cases
b)
It will be applicable to only Contactless Cards
c)
Both the first and the second options are correct
d)
Neither the First nor the Second option is correct.
23.
RBI has relaxed norms on Additional Factor Authentication for certain digital payments up to Rs.2000 per transaction. What is the effect of this?
a)
It will be applicable to ATM transactions
b)
It will be applicable to POS transactions
c)
It will be applicable to POS transactions where NFC is enabled
d)
None of the above
24.
RBI has issued guidelines under KYC/AML/CFT Policy for restricting opening money mule accounts. Which one among the following is coming under these guidelines
a)
Dispose off records with in 1 year
b)
Monitoring of transactions at various levels on the basis of threshold limit fixed by the branch
c)
ROC search of the Money mule
d)
None of these
25.
OBSERVANCE OF AML – CFT DAY ON
a)
2nd October
b)
2nd November
c)
2nd May
d)
2nd July
26.
Within what Time intervals, bank should update the KYC records of existing low risk customers?
a)
2
b)
4
c)
8
d)
10
27.
Within what Time intervals, bank should done full KYC updation for existing Medium & High risk customers?
a)
8&2
b)
4&2
c)
2&10
d)
10&2
28.
Medium Risk Customer(s) is/are
a)
(Individual) Credit/Debit Summations of Rs 50.00 Lac to Rs 2.00 Cr per annum
b)
(Non-Individuals) -Credit/Debit summations of Rs 2.00 cr to Rs 10.00 cr per annum
c)
Pawn shops, Small Kirana Shops
d)
All of these
29.
Among the following which accounts are considered as MEDIUM RISK category accounts?
a)
Saving Bank accounts opened by Salaried People
b)
Saving Bank accounts opened by daily laborer’s
c)
All Inoperative Accounts
d)
None of these
30.
As per simplified KYC Norms customers need not produce documentary proof for Identification, if they intend to maintain balances not exceeding
a)
Rs. 50000
b)
Rs. 70000
c)
Rs.100000
d)
Rs. 25000
31.
Mrs. Lalitha, a housewife, want to open account and she intend to maintain balances not exceeding Rs.50,000 in the account. She did not have documentary proof for identification. Which type of account she can open?
a)
Since she is intend to maintain the balance not exceeding Rs.50,000 , she can open only FULL KYC Account
b)
Since she does not have ID proof, at least she must provide the present address proof to open account
c)
There are no guidelines in respect to such cases
d)
Since she is intend to maintain the balance not exceeding Rs.50,000, Simplified KYC account can opened
32.
The risk categorization of all accounts is to be reviewed at least once in………………under revised KYC/AML/CFT policy
a)
3 MONTHS
b)
12 MONTHS
c)
24 MONTHS
d)
6 MONTHS
33.
KYC / AML Cell of the Bank is set up at ———-
a)
Jaipur
b)
Mumbai
c)
Delhi
d)
Chennai
34.
Which Department has been set up in SBI to perform statutory obligations regarding prevention of Money Laundering & Combatting of financing of terrorism
a)
AML/CFT
b)
Fraud Monitoring Department
c)
BPMM
d)
None of these
35.
Nodal Agency for CKYCR functions is __________ ?
a)
There is no Nodal Agency for CKYCR
b)
Central Registry of Securitization, Asset Reconstruction and Security Interest of India (CERSAI)
c)
Reserve Bank of India (RBI)
d)
None of the options is correct
36.
Which of the following accounts are covered under CKYC (a) All types of Liability accounts (b) All types of loan accounts © Letter of Credits& Bank Guarantees
a)
(a), (b) and ©
b)
(a) & (b) only
c)
(a) & © only
d)
All options are correct
37.
What type of accounts (Existing accounts and New accounts) are covered under CKYC (Phase-I)?
a)
All existing accounts
b)
New accounts
c)
Both Existing as well as New Accounts
d)
None of the options is correct
38.
One customer has opened the new CIF and savings bank account and now she trying to do debit transactions in her newly opened SB account but system is not permitting the transaction. What is correct statement in this situation?
a)
Credit Transactions are permitted before second validation by LCPC
b)
Debit transaction are permitted before second validation by LCPC
c)
Credit & Debit transactions are permitted before second validation by LCPC
d)
None
39.
What is timelines to submit KYC documents / Data to CKYCR after commencement of account based relationship with Customer?
a)
1 day
b)
2 days
c)
3 days
d)
1 week
40.
Which document to be obtained if there is no change in existing status of KYC records of the customer and he has provided his CKYC number(PAN & AADHAR are already linked to CKYC).What additional documents are required to be obtained by Bank for opening a Deposit account?
a)
Any OVD as prescribed by the RBI to be submitted again
b)
Even though there is no change in address, Recent address Proof has to be submitted
c)
Both first and second
d)
No document is required to submit
41.
Where from CKYC number of the customer can be extracted?
a)
From CKYC Registry
b)
Data maintained by LCPC
c)
SBI Data Base
d)
None of the above
42.
If the customer submits proof for APPLICATION OF PAN Card submitted to concerned authority, instead of PAN card . Is it sufficient to open account?
a)
No, only PAN card need to be submitted
b)
Form-16 can be submitted in place of PAN card
c)
It is not sufficient to open the account, advise the customer to come with original PAN card only
d)
Yes,
43.
If the customer submits Form 60 issued by employer , will it substitute submission of PAN card?
a)
No
b)
Yes
c)
No, Form 16 to be submitted
d)
It is left to BM's discretion
44.
Mr.Kishore want to open the account with our Bank and he has provided CKYC Number and there is no changes in the existing CKYC Details. shall we open the account WITHOUT obtain fresh KYC?
a)
Yes
b)
No
c)
Yes, But , the Bank has to obtain Fresh KYC within 6 months
d)
None of the above
45.
The CKYC number generated will be advised to the customer by SMS on the registered mobile number by -----
a)
GITC , Belapur
b)
CKYCR
c)
Concerned Bank
d)
Concerned branch of Bank
46.
Which URL is used to know the status of CIF/Account uploaded?
a)
https://sbickyc.sbi/CKYCDashboard.
b)
https://sbickyc.sbi/CKYC.
c)
Both options are correct
d)
None of the options are correct
47.
Whether simplified accounts opened by the BC channel of our bank are covered under CKYC or NOT?
a)
Accounts opened byBC channel are exempted if controllers permitted for the same
b)
BM has discretion to either to submit to CKYC or not
c)
No, Accounts opened by BC's are not covered
d)
Yes , as all accounts opened by Banks opened at their Branches or through other channels/platforms can be covered
48.
Customer having KYC number (CKYC Identifier) allotted by CKYCR approaches a Bank/FI for opening an account. On verification it was noted by the Bank that there was a change in the address of the customer. Whether the Bank can ask for submission of fresh address proof?
a)
Yes
b)
No
c)
Address proof to be submitted to original Bank where account is maintained
d)
None of the options are correct
49.
In which of the following cases, both credits and debits will be permitted?
a)
Existing Customers (i.e. where CIF has opened before the CKYC rollout date)
b)
Where CKYC Number for any customer exists.
c)
Products of Project Lotus are exempted.
d)
All of the options are correct
50.
Whenever AOF and related papers are required to be provided to RBI, CBI, Police Department or any other Govt Agencies, which documents will be made available?
a)
Digital set of AOF and related papers
b)
Physical copies of KYC documents
c)
Original KYC documents
d)
All the options are correct
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