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Junior Associates 2023 Quiz No. 01

Total questions: 54

Worksheet time: 27mins

Name
Class
Date
1.

Which is the correct sequence of Money Laundering process -

a)

placement, layering , integration

b)

placement, integration ,layering ,

c)

layering , integration ,placement

d)

integration ,placement, layering ,

2.

Partial Withdrawals in a PPF account is permitted after completion of minimum……… from the date of account opening?

a)

3 Years

b)

5 Years

c)

6 Years

d)

7 Years

3.

A PPF account can be prematurely closed only after completion of……….. no. of financial years from date of opening.

a)

7

b)

5

c)

3

d)

2

4.

Which of the following provides for appointment of banks as agents at all places or at any place in India ?

a)

Section 35 of the RBI Act, 1934

b)

Section 45 of the RBI Act, 1934

c)

Section 21 of the RBI Act, 1934

d)

All of the above

5.

State Bank of India acts as an agent of RBI in carrying out the Government Business as per the provisions of ?

a)

Section 45 of RBI Act

b)

Sec 2 of RBI Act and Sec 45 of SBI Act

c)

Sec 32 of RBI Act

d)

Sec 45 of RBI Act and Sec 32 of SBI Act

6.

Government Business Unit (GBU) is stationed at ............................and is headed by ……………….

a)

New Delhi, DGM (GBU)

b)

New Delhi, CGM (GBU)

c)

Mumbai, GM (GBU)

d)

Mumbai, DGM (GBU)

7.

The branch has received 10 income tax challans for total amount of Rs. 300000/-. What will be the amount of Govt Commission ?

a)

Rs. 195/-

b)

Rs. 165/-

c)

Rs. 650/-

d)

Rs. 400/-

8.

The branch is having 500 pension accounts. Considering 12 pension payment transactions in a year, what will be the amount of agency commission of the branch for pension payment -

a)

Rs. 390000/-

b)

Rs. 450000/-

c)

Rs. 39000/-

d)

Rs. 45000/-

9.

From which year after opening of PPF Account, a customer can avail loan facility ?

a)

From 3rd FY onwards to 5th FY of account opening.

b)

From 4th FY onwards to 6th FY of account opening.

c)

From 4th FY onwards to 7th FY of account opening.

d)

From 3rd FY onwards to 6th FY of account opening.

10.

What is true about Quick Transfer through YONO Lite SBI App ?

a)

Per day transaction limit is Rs.10000/-

b)

Per day transaction limit is Rs.50000/-

c)

Per transaction limit is Rs.25000/-

d)

Per transaction limit is Rs.10000/-

11.

mPassbook allows .............. transactions -

a)

150

b)

No Limit

c)

100

d)

50

12.

Types of SBI FASTag are -

a)

Seven

b)

Eight

c)

Five

d)

Six

13.

Payments in BHIM SBI PAY cannot be made by -

a)

Adhaar Number

b)

Virtual Payment Address (VPA)

c)

QR Code

d)

Account Number & IFSC Code

14.

Which of the following is not correct for BHIM SBI Pay ?

a)

More than one account can be registered

b)

Money can be collected from other bank account

c)

Last 10 transactions can be viewed

d)

UPIN is required to complete the transaction

15.

The New name for SBI Anywhere is -

a)

Yono SBI

b)

BHIM SBI

c)

Yono Lite

d)

BHIM SBI PAY

16.

What is the software used to gather and monitor customer business leads ?

a)

LMS

b)

CRM

c)

LOS

d)

CMS

17.

In NEFT the settlement is on DNS basis, what is DNS ?

a)

Data Network Server

b)

Digital Network Software

c)

Deferred Net Settlement

d)

Digital Network Settlement

18.

Mutilated notes can be exchanged which branch of SBI ________

a)

Only in Currency Chest Branch

b)

Only in Treasury Branch

c)

Any Branch who deals with Cash

d)

Can be changed in RBI only

19.

The Amended the Note Refund Rules issued by RBI came into force w.e.f.________

a)

2009

b)

2011

c)

2013

d)

2015

20.

Bank can accept Two-Rupee Coin from a depositor ________

a)

for any sum not exceeding Rupees 10/-

b)

for any sum not exceeding Rupees 100/-

c)

for any sum not exceeding Rupees 1000/-

d)

for any sum not exceeding Rupees 10000/-

21.

Bank can accept Half-Rupee Coin from a depositor ________

a)

for any sum not exceeding Rupees 10/-

b)

for any sum not exceeding Rupees 100/-

c)

for any sum not exceeding Rupees 1000/-

d)

Bank should not accept half-rupee coins as those are obsolete

22.

Counterfeit Note received at the counter should be -

a)

Impounded by Bank

b)

Destroyed in front of tenderer

c)

Returned to the tenderer

d)

Returned to the tenderer after stamping as “Counterfeit Note”

23.

Reporting of counterfeit note detected should be routed through the Nodal Bank Officer only. Who is the Nodal Bank Officer ?

a)

Branch Manager of the Branch

b)

Chief Manager (C&R) of the concerned RBO

c)

AGM of the concerned RBO

d)

DGM of the concerned ZO

24.

FIR to be lodged immediately for cases of detection of counterfeit notes of ________

a)

5 or more pieces, in a day

b)

More than 5 pieces, in a day

c)

5 or more pieces, in a single transaction

d)

More than 5 pieces, in a single transaction

25.

Counterfeit Note should be preserved by the branch concerned for ________ after conclusion of the court case / received from Police Authorities

a)

three months

b)

three years

c)

six months

d)

six years

26.

Payment in due course is defined under -

a)

Section 10 of NI act

b)

Section 11 of NI act

c)

Section 10 of Contract act

d)

Section 1 of NI act

27.

RBI was established on the recommendation of -

a)

Hilton Young Commission

b)

Royal Commission on Indian currency ad finance

c)

gorwala committee

d)

None of these

28.

The Banking Regulation Act is applicable to

a)

commercial banks

b)

cooperative banks

c)

foreign banks operation in india including J and K

d)

All of these

29.

Under which sec of NI act, Banker is getting an obligation to honour the cheque and to keep the proper record of the transactions -

a)

sec 18 of NI act

b)

sec 13 of NI act

c)

sec 25 of NI act

d)

sec 31 of NI act

30.

The relationship between the hirers of Bank locker and the Bank is that of -

a)

debtor-reditor

b)

bailor -bailee

c)

licensor-licensee

d)

principal -agent

31.

The provisions of Consumer Protection Act 2019 are applicable to the services rendered by the Bank ...................................

a)

to the customers of the bank only

b)

to the custoers and the users of the services irrespective of whether the service is gratis or for consideration

c)

to the customer and any user of bank service against consideration

d)

all of these

32.

As per sec ................. of BR act 1949 , NOMINATION FACILITY IS DEFINED IN -

a)

45

b)

30z

c)

45ZA-45ZF

d)

45Y

33.

CFT stands for -

a)

Combating of Financing of Terrorism

b)

Combating Financial Terrorism

c)

Controlling Finance to terrorism

d)

None of these

34.

KYC Policy of the Bank has 4 Elements. Which one the following is not one among them -

a)

Customer Acceptance Policy

b)

Customer Identification Procedures

c)

Risk Management

d)

all are part of the four elements

35.

Which one of the following is not OVD -

a)

PAN CARD

b)

PASSPORT

c)

VOTER I CARD

d)

job Card Issued by NREGA

36.

Which is the correct sequence of Money Laundering process -

a)

placement, layering , integration

b)

placement, integration ,layering ,

c)

layering , integration ,placement

d)

integration ,placement, layering ,

37.

A fraudster may engage an ignorant person to get deposit in his account and later give that money to fraudster. The ignorant person is -

a)

a money carrier

b)

money changer

c)

money mule

d)

None of these

38.

The software used by AML-CFT centre at ......................is named as ,,,,,,,,,,,,,,,,,,,

a)

New Delhi, AMLOCK

b)

Jaipur, AMLOCK

c)

New Delhi, SOTEX

d)

Mumbai, AMLOCK

39.

Non face to face customers are classified as

a)

Medium risk

b)

High risk

c)

Low risk

d)

Any of these

40.

Non Resident Customers (NRIs) are classified as

a)

low risk

b)

medium risk

c)

high risk

d)

same risk categorization as import export customers

41.

OFAC stands for

a)

Office of Foreign Control Assets (of USA):

b)

Office of Foreign Control Assets (of Pakistan ):

c)

Office of Foreign Currency Assets (of USA):

d)

Office of Foreign Control Aspect (of USA):

42.

Maximum Validity of Small account

a)

6 months

b)

24 months

c)

36 months

d)

12 months

43.

Periodic updation of KYC of Low risk customers is to be done within

a)

2 years

b)

5 years

c)

8 years

d)

10 years

44.

Periodic updation of KYC of high risk customers is to be done within

a)

2 years

b)

5 years

c)

8 years

d)

10 years

45.

Periodic updation of KYC of medium risk customers is to be done within

a)

2 years

b)

5 years

c)

8 years

d)

10 years

46.

Which one of the following is not a pillar of KYC

a)

Customer Acceptance Policy

b)

Customer Identification Procedures

c)

Credit Risk Management

d)

Monitoring of Transactions

47.

Records of transactions done are to be preserved fpr a period of ________ years as per PMLA 2002

a)

10 years

b)

Permanently

c)

5 years

d)

7 years

48.

What is the minimum applicable threshold amount for creation of sweep in Salary Package/Savings Plus accounts ?

a)

10000

b)

25000

c)

35000

d)

NIL

49.

What is the minimum amount of Multi Option Deposit Scheme (MODS) ?

a)

10000

b)

25000

c)

5000

d)

1000

50.

What is the minimum average balance required for Diamond Variant Current Account ?

a)

10000

b)

100000

c)

500000

d)

25000

51.

What is the minimum period for Multi Option Deposit Scheme (MODS) ?

a)

6 Months

b)

12 Months

c)

24 Months

d)

36 Months

52.

Maximum amount under Senior Citizen Savings Scheme is -

a)

5 lacs

b)

10 lacs

c)

15 lacs

d)

25 lacs

53.

The initial maturity period and subsequent extension period in case of Senior Citizen Savings Scheme (SCSS) are ............... and .............. respectively.

a)

3 years, 3 years

b)

3 years, 5 years

c)

5 years, 5 years

d)

5 years, 3 years

54.

A customer can approach Banking Ombudsman related to complaints against Bank after ........................... days of approaching the Bank for redressal of the grievance.

a)

No such requirement. The customer can approach Banking Ombudsman any time.

b)

15 days

c)

21 days

d)

30 days

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