WorksheetsIIBF Exam 21-35
Total questions: 15
Worksheet time: 15mins
An account holder who is not only unable to be
physically present in the bank but is also not even able
to put his/her thumb impression on the cheque/
withdrawal form due to certain physical incapacity,
wants to take cash payment. The bank will _______
Refuse payment and advise to close down the account
Obtain a mark on the cheque/ withdrawal form in the
presence of two independent witnesses, one of who
should be a responsible bank official.
Obtain a mark on the cheque/ withdrawal form in the
presence of any two independent witnesses known to
the bank.
Advise to obtain a medical certificate from Govt.
hospital indicating the stage of physical condition.
In case of ‘Small Accounts’ an
account is opened based on _________
A letter issued by any local government
authority.
An introduction by an existing customer of
the bank.
An introduction by two independent
persons.
Self-declaration by the customer in the
presence of a designated officer of the
bank.
Immediate Payment Service
(IMPS) offers inter-bank electronic funds
transfer through ________
i. Mobile Banking
ii. Internet Banking
iii. ATMs
iv. Credit Cards
i and ii only
ii and iii only
i, ii and iii only
i, ii iii and iv
Those persons who do not
have any of the ‘officially valid
documents’ can open “Small
Accounts” with banks. The account
balance should not exceed any point
of time.
Rs 10,000
Rs 25,000
Rs 50,000
Rs 20,000
The term Bank’s Customer
does not include _________
Anyone coming to the bank with the
intention of opening his account.
Anyone conducting a banking
transaction with the bank.
An individual borrower of the bank.
Any legal entity having a deposit
account with the bank.
Which one of the following statements regarding the KYC requirements is correct?
KYC verification is required to be done every time a customer opens another account with the bank.
For opening an account of a student of Pakistani nationality prior approval of RBI is required
KYC verification done once for a customer is valid for always.
KYC verification is not required for opening an account of bank’s own staff
Where the officially valid documents furnished by the customer does not have updated address the customer is required to submit any one of the following documents, with current address, within ______ time.
60 days
45 days
Three months
One month
KYC means_________
Know Your Clients
Keep Your Customers
Know Your Customer
None of the above
KYC process is intended to establish identity and ______ of a customer through documentary evidence.
Address
Income
Occupation
All of the above
Which is the correct sequence of three stages of Money Laundering?
Placement, Layering, Integration
Layering, Cleansing, Placement
Integration, Layering, Placement
Placement, Laundering, Cleansing
Bank A sanction and disbursed a sum of Rs 25,000 on 1/4/20XX. It charges 9% interest on the account on quarterly basis. The amount of interest to be charged in the account on 30/06/20XX would be _______.
Rs 2250
Rs 600
Rs 563
None of the above
Which one of the following statements is correct in respect of interest on money?
Interest is the price paid by a person for temporary use of someone else’s funds.
Interest is the share in profit given by a person to the person who provided funds.
Interest is a gratuitous payment made by a person to the person who provided funds
Interest is compensation paid by a person to the person who provided funds for erosion in value due to inflation.
Your customer has deposited Rs 50,000 for two years at 7 % per annum with quarterly compounded interest which is reinvested in the account. The maturity amount on this deposit is ________
Rs 57,000
Rs 57, 444
Rs 57,490
None of the above
Rate of interest is expressed as _______ .
A percentage of principle
A percentage of principle for a year
The amount for a year
The amount on the principle
When in Housing loans banks offer lower EMI in the initial years and higher EMI in the later years, the concept is known as ________
Step down repayment
Variable EMI
Step up repayment
Adjusted loan
