NEW
Font size
WorksheetsIDBI-T2-BOB-LU3
Total questions: 25
Worksheet time: 8mins
KYC Regulations have been introduced under which of the following regulations?
Prevention of Money Laundering Act
Companies Act
RBI Act
Periodic updating of KYC for high Risk customers to be carried out once every.......
3 years
1 year
2 years
Banks should frame their KYC policies incorporating the following Key elements:
Customer Acceptance Policy,Customer Identification procedures,Monitoring of Transactions, Risk Management
Only CAP and CIP
Only Monitoring of Transactions and Risk Management
Periodic updation of KYC for Medium Risk customers to be done once in.........
5 years
8 years
3 years
For Low risk customers periodic updation is to be done once in................. from the date of opening of the account
2 years
8 years
10 years
In case of no change in the KYC information, self declaration to be obtained from customer through............
Registered mobile number, email, ATM, Internet Banking etc
Only through Registered Mobile number
Only through registered email
Accounts opened in Minor name and on his attaining majority, procedure to be followed are.......
Obtain latest photo
Obtain photo and fresh updated CDD
Obtain only address proof
Regulated entities(REs) have to capture and upload to CKYCR within............days from the date of opening the account
7 days
10 days
immediately on opening the account
Operational guidelines for uploading the KYC data are issued by ..........
CERSAI
RBI
SEBI
REs will upload records of KYC of LEs (Legal entities)opened after............... on CKYCR
01.04.2021
01.04.2005
01.04.2022
Digital KYC means.............
capturing Live the photo and other OVDs with Longitude and Lattitude
Modifying digitally the photo
Adding Digital music while capturing the OVD documents
Central KYC Registry allots a unique number or code to every customer known as....
KYC code
KYC number
KYC Identifier
One of the following is not a Officially Valid Document for KYC as per RBI guidelines. Identify.
Ration Card
Passport
NREGA Job card
Where OVD submitted by the customer does not have an updated address, Bank may obtain...
PPOs, letter of accomodation by Govt or its agencies
Utility Bill not more than 2 months old, Property tax,
All of the these
Where the Bank has opened an account accepting the Municipal Tax for address proof, the customer has to submit the OCD with latest address within.........
15 days
3 months
1 month
KYC compliance is a mandatory exercise under Prevention of............
Money Laundering Act 2001
Money Laundering Act 2002
Money Laundering Act 2004
V-CIP stands for..........
Voter identification customer process
Valuable customer identification process
Video based customer identification process
FATCA is the acronym for...............
Foreign Account transfer cash Account
Foreign Account transaction continuation Act
Foreign Account Tax Compliance Act (USA)
As per RBI guidelines on KYC, Banks to classify the customers as........
Low, Medium and High Risk
Poor, Medium and Rich customers
Only Medium and High Risk customers
Accounts opened using OTP based e-kyc operations will not be permitted if stipulated KYC not completed within......... year from the date of opening the account.
Two
One
6 months
Money Laundering means........
Conversion of assets into cash to make them legitimate
Conversion of cash into gold to make them legitimate
Conversion of money which is illegally obtained to make them legitimate
Under the KYC guidelines banks need not conduct enhanced due diligence in case of.........
Personal customers with small deposits
Firms with sleeping partners
Non-face-to-face customers
At which stage of the money laundering process it is relatively easy to detect the crime..
Placement stage
Layering stage
Integration stage
Which of the following is NOT a step in Money Laundering?
Re-Integration
Placement
What is the laundering stage that separates the illicit money from its source, obscures the audit trail and severs links with the original crime to make it appear like a normal financial transaction called?
Placement
Integration
Layering
