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EXIT TEST FOR JOINT MANAGERS/CREDIT OFFICERS

Total questions: 35

Worksheet time: 18mins

Name
Class
Date
1.
RBIA stands for_______________________
a)
Risk Based Inspection & Analysis
b)
Risk Based Internal Audit
c)
Regional Bureau of Inspection & Audit
d)
Risk Based Internal Accounting
e)
Risk Bureau of Internal Audit
2.
Stock Audit is conducted in accounts having limit of above Rs_____ crores.
a)
10
b)
5
c)
1
d)
15
e)
2
3.
Rural/ Semi Urban branches are required to submit their Rectification Certificates within ____ days from date of receipt of audit report
a)

90

b)

30

c)

60

d)

120

e)

40

4.
Urban/ Metro branches are required to submit their Rectification Certificates within ____ days from date of receipt of audit report
a)

90

b)

120

c)

30

d)

60

e)

None of the above

5.
QRC stands for _______
a)
Qualified Reconcilliation Certificate
b)
Qualified Rectification Certificate
c)
Qualified Report Certificate
d)
Quarterly Rectification Certificate
e)
Quarterly Rectified Certificate
6.
CRC stands for _______
a)
Clean Reconcilliation Certificate
b)
Clean Rectification Certificate
c)
Clean Report Certificate
d)
Closing Rectification Certificate
e)
None of the above
7.
Authority to close SOL vests with ______
a)
RO
b)
Zonal Head
c)
GM, CIAD
d)
BCC
e)
ZIAD Head
8.
Stock Audit in accounts having exposure of Rs. 5 crs and above will be carried out _____ time(s) a year
a)
1
b)
2
c)
3
d)
4
e)
5
9.
Credit Audit covers all existing accounts with exposure of Rs ______ crores and above
a)
5
b)
10
c)
1
d)
15
e)
20
10.
A Qualified Rectification Certificate needs to be converted to Clean Rectification Certificate within ____ days
a)

30

b)

15

c)

60

d)

90

e)

Before next inspection

11.
CEMU stands for ________
a)
Centralised Exceptional Monitoring Unit
b)
Central Exceptions Monitoring Unit
c)
Centralised Exception Monitoring Unit
d)
Central Execptions Managing Unit
e)
None of the above
12.
LFAR stands for ____________
a)
Last Formed Audit Report
b)
Long Form Audit Report
c)
Listed Format Audit Report
d)
Long Formated Action Report
e)
Listed Form Action Report
13.
SOL stands for _____
a)
Specific Observation Letter
b)
Special Observation Letter
c)
Special Official Letter
d)
Special Order Letter
e)
None of the above
14.

Total number of Zero Tolerance Areas covered under Risk Based Internal Audit-

a)

10

b)

15

c)

17

d)

13

e)

19

15.

Audit & Inspection is the ........................under 3 lines of defence model given by our Bank.

a)

1st line

b)

2nd line

c)

3rd line

d)

none of these

e)

All

16.

Role of Internal Audit does not include-

a)

Identification of various risk in Branches/units.

b)

Spot rectification of errors, if possible.

c)

to provide risk rating

d)

to penalize for the frauds committed by staff, if any

e)

All of these are work of internal Audit

17.

Compliance Policy is Valid For _______ Years?

a)

1

b)

3

c)

5

d)

2

18.

In Case of Deemed OVD, the utility bills must not be older then______ Months?

a)

1

b)

2

c)

3

d)

6

19.

How Many Documents are approved by RBI as OVD?

a)

5

b)

7

c)

6

d)

4

20.

What are KYC guidelines regarding the enrichment of Beneficial Owner information in case of a Partnership Firm?

a)

Ownership of more than 25% of shares or capital or profits

b)

Ownership of more than 15% of shares or capital or profits

c)

Ownership of more than 5% of shares or capital or profits

d)

Ownership of more than 50 % of shares or capital or profits

21.

Branches to invariably to update customers identification data (including photos) after account is opened in case of Low-Risk Customers in

a)

once in Ten Years

b)

Once in Eight Years

c)

Once in Five Years

d)

Once in Two Years

22.

The RCO Shall visit _______ % of the Branches in a Quarter for On site compliance Test checking?

a)

15

b)

25

c)

30

d)

50

23.

What are the stages of money laundering which are resorted to by the launderers & insurance institutions

a)

Integration-Layering-Placement

b)

Layering-Placement-Integration

c)

Placement-Layering-Integration

d)

None of the above

24.

____________ is filled with financial, regulatory and operational dangers

a)

Compliance

b)

Non-Compliance

c)

Both of the above

d)

None of the above

25.

FIU-IND stands for

a)

Financial Influence Unit - IND

b)

Financial Intellectual Unit - IND

c)

Financial Interpret Unit - IND

d)

Financial Intelligence Unit - IND

26.
Which report is not part of CEMUportal?
a)
Exception Report
b)
Facilitator Report
c)
Trend Report
d)
Error Report
27.

PSR for Controllable expenses are to be submitted at what frequency?

a)

Monthly

b)

Quaterly

c)

Fortnightly

d)

Weekly

28.
Marking of undelivered cheque book is done through which menu option?
a)
UNDEV
b)
CHQUNDEV
c)
UNCHQ
d)
UNRPT
29.
Transaction in newly opened account is monitored through which finacle menu?
a)
NEWACT
b)
NEWACTR
c)
NEWACRPT
d)
NEWACTRAN
30.

FATF stands for:

a)

Financial Action Task Force

b)

Foreign Action Tax Force

c)

Fraud Activity Test Facility

d)

Foreign Automated Tax Facility

31.

As per PML rules 2005, All neccessary records of transactions between Bank and customer has to be maintained for a minimum of --- years from the date of transaction

a)

Five Years

b)

Eight Years

c)

Ten years

d)

Twelve years

32.

Customer Acceptance policy is framed by?

a)

RBI

b)

Government

c)

Bank

d)

FIU-IND

33.

CRS Stands for

a)

Common Reporting System

b)

Common Reporting Standards

c)

Currency Reporting Software

d)

Counterfeit currency Reporting Software

34.

Which of the following answers is the best definition of a suspicious transaction?

a)

A transaction that is unusually complex

b)

A transaction that is inconsistently large

c)

A transaction that is unusually large

d)

A transaction that is inconsistent with the client's known legitimate business, personal activities, or type of client

35.

Which of the following may be an indicator of money laundering?

a)

Paying by credit card

b)

Expensive policies being taken out and then cancelled

c)

Insurance being taken out on property

d)

Money being withdrawn from different ATM machines

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