65 recommendations B. NIL C. 40 recommendations D. Yet to be finalised, 23. Trusts, Charities NGOs and organizations receiving donations from India and abroad, are categorized as __________ Risk Customers, (A) Low (B) Medium (C) High (D) Either a or b or c, depend on turnover, 16. Partners MOU B. Certificate of commencement of Business is required in case of, (A) Pvt. Amazon.in - Buy Anti-Money Laundering & Know Your Customer book online at best prices in India on Amazon.in. Declaration of all family members B. The amount beyond which cash transactions (Receipts & Payments) are to be monitored by the Commercial Banks as stipulated by the RBI in, A. Rs.5 lacs & above B. Rs.8 lacs & above C. Rs.10 lacs & above D. No such lim, The contents in this blog are based on Information. “Financial Street is a well recognized name in the financial market education. New All IIBF Certifications PDFs in single link 2020-2021, All IIBF Certifications PDFs in single link, Caiib single link for all recollected questions. Medium C. Generally Low D. Cannot say, 45.Letter of thanks is sent to introducer/s because it is -, A. laid down in the banks’ manual B. a routine practice followed by banks for years, 46.While opening an account in the name of a company, the following document/s is/are to be obtained - A. Organisation Chart of the, company B. Review of compliance of KYC guidelines, B. accountant certificate salary. Deposit of several small values of cheques, C. Frequent deposits of cash into the account by persons other than the account holder or his authorised representative, 13. Objective of IIBF AML - KYC Exam. DICGC EXIM Bank FDIC SEBI Ans- sebi FATF is located at 1. Role of the concurrent auditors / Internal auditors with KYC is to -, 32. (C) beneficiaries of transactions conducted by professional intermediaries, such as Stock, Brokers, Chartered Accountants, Solicitors etc. FCRA means - Foreign Contribution Regulation Acta, 5. A. Maximum retention period of the bank records in case of suspicious transactions is -, A. The increasing complexity and volume of financial transactions necessitate that, customers do not have multiple identities within a bank, across the bank system and, across the financial system. This blog is for purely study related all are free study materials and sharing knowledge only. For effective implementation of “Know Your Employee”, measures to be adopted by the banks are -, A. Verification of the life-styles of the employees, B. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. Which one of the, 36. Fresh photographs will be required to be obtained from minor customer on becoming, (C) On becoming major (D) No such instructions as per KYC rules, 22. Roles and responsibilities of the Company, D. Instructions of the Registrar of the Company, 47.Due diligence is done at the time of opening an account to enable banks to ensure -, A. identification of the customer at the time of opening an account, B. correctness of the various denominations of notes given by the customer while opening an account, C. authenticity of the signatures of the customer at the time of opening an account, D. speeding up the process of account opening of the new customers, 48. Compliance with "Know Your Customer" guidelines and "Anti-Money Laundering" standards has become necessary for healthy financial relationships both by the banks / financial institutions in India.. customer. Introduction from the third person having an account with the bank /branch, B. 10. We will rectify it immediately. It also allows firms to minimize the adverse impact of anti-money laundering procedures on their low-risk customers. Question 6 Which of the following is a type of structuring that is done at … collected from various sources which we believe to be reliable. This blog is for purely study related all are free study materials and sharing knowledge only. The contents in this blog are based on Information collected from various sources which we believe to be reliable. seniorific comics. Know Your Customer (KYC) Norms and Anti Money Laundering (AML) 1. Frequent deposits of large sums of money bearing labels of other banks into the account, C. Request for closure of newly opened accounts where high value transactions are routed through D. All of the above, 37. Frequent deposits of cash in large sums by third parties, B. Conversion of money which is illegally obtained to make them legitimate, C. Conversion of cash into gold to make them legitimate, D. Conversion of assets into cash to make them legitimate, 21. What is KYC? KYC ::: 1. Remember always "Success is not a destination,it's a Journey". Meaning: It does not matter how slow you go as long as you don't stop... New CAIIB,JAIIB & IIBF PDFs and recollected questions . Branches should not open deposit/advances accounts of banned/ terrorist organisations as circulated by -, 4. Effectiveness of the implementation of the KYC, C. Verification of newly opened accounts and their transactions, 9. 1. Role of the front line employees of a bank in respect of KYC guidelines is to -, A. (A) 20,000 (B) 25,000 (C) 50,000 (D) 1,00,000. All cash transactions, where forged or counterfeit Indian currency notes have been, used as genuine should be reported by the Principal Officer to FIU–IND in the, specified format not later than ....... working days from the date of occurrence of such, transactions (Counterfeit Currency Report – CCR), 26. KYC policies incorporating the following key elements : (A) Customer Acceptance Policy ; Customer Identification Procedures ; (B) Monitoring of Transactions ; Risk Management, 6. 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