However, some sectors face a greater risk of coming across crime proceeds or terrorist property than others, e.g. 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. Maximum retention period of the bank records in case of suspicious transactions is -, A. We are specializes in training investors and providing high quality training to investors and traders across the country.Our vision is to be the most sought after learning provider in the areas of finance and leadership learning.” Bank Master B. No C. Has applied for inclusion D. Is likely to be made a member. Is adopting Anti Money Laundering practices compulsory for Banks in India? 1. Its CAMS certification is the most widely recognized anti-money laundering certification among compliance professionals. Visit the ACAMS website at www.acams.org. 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. a profile for each new customer based on constitution. EXPORT - IMPORT FINANCE MCQs Multiple Choice Questions. Which of the following is a source of identification of new customer who is not having any valid documents such as, passport, etC. KYC ::: 1. For copying/printing these files, just click on the link or pdf image. Serve with Smile while opening the customer accounts, C. Assist the customer in filling-up the account opening forms. 17. AML/KYC AML/KYC Sample Questions 395 K B Digital Banking. As per KYC Policy, Shell banks are permitted to operate in India, if, (B) Provides full KYC as well as confirmation from another Bank, (C) Permitted only as Co-operative bank (D) Not permitted to operate in India, 14. DICGC EXIM Bank FDIC SEBI Ans- sebi FATF is located at 1. Which one of the, A. As per KYC Policy NPOs/NGOs promoted by United Nations or its agencies may be. 34.Which of the following transactions is/are suspicious from AML angle -, C. Frequent deposits of cash into the account by persons other than the account holder or his authorized representative, 35. Which one of the, 36. Ltd. Company (B) Public Ltd. Company, (C) Both (A) or (B) (D) Only for Service Sector Enterprises, (A) New Delhi (B) Mumbai (C) Nagpur (D) Kolkata, 19. 44.What is the level of risk of Money Laundering in a Liability product (e.g., deposits)? 'Small account' means a saving account in a banking company as per KYC policy is. Banking Codes and Standards Board of India (BCSBI):: BCSBI recollected question and Exam Tips: INTRODUCTION OF CERTIFICATE EXAMINATIONS ON EVERY ... New CAIIB BFM 2020 ,JAIIB, &IIBF PDFs, recollected questions . 11. Which of the following is the cardinal rule for bankers in anti-money laundering efforts - A. Generally High B. Yes B. It also allows firms to minimize the adverse impact of anti-money laundering procedures on their low-risk customers. Frequent deposits of cash in large sums by third parties, B. The name of the software which is using by banks for analyzing the KYC details at, (A) Anlock (B) Kyclock (C) Amlock (D) Aclock, 28. Ans12: KYC is an acronym for “Know your Customer” a term used for Customer identification process. Money laundering has become a pertinent problem worldwide threatening the stability of various regions by actively supporting and strengthening terrorist networks and criminal organizations. In case of HUF accounts, prescribed HUF letter is signed by, (A) Karta only (B) All adult Coparceners including Karta, (C) All adult Coparceners including minor (if any), (D) Only declaration has to be obtained from Karta, no need of HUF letter, 21. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, A. Letter of thanks is sent to introducer/s because it is -, B. a routine practice followed by banks for years, D. assisting banks in verification of genuineness or otherwise of the address, 19. ____, A. Rs.50,000/- & above B. Rs.75,000/- & above, C. Rs.1,00,000/- & above D. Rs.1,50,000/- & above, 26. The Code defines the standards of conduct that we expect from all of our employees and guides us to make the right decisions when performing our jobs. (B) one on whose behalf the account is maintained (i.e. as permitted under the law, the any, person or entity connected with a financial transaction which can pose significant, reputational or other risks to the bank, say, a wire transfer or issue of a high value. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, B. Unusual activities in respect of an customers account is/are -, A. Partnership Deed C. Registration certificate of Partnership, 50. The contents in this blog are based on Information collected from various sources which we believe to be reliable. Frequently Asked Questions on KYC Norms and Anti Money Laundering Introduction. Deposit of cheques issued by foreign companies, C. High value transactions routed through the account with high frequency, 12. Certificate of commencement of Business is required in case of, (A) Pvt. Tally C. Bank Alert D. Bank Call. Politically exposed persons (PEP) are .............individuals who are or have been, entrusted with prominent public functions in a ............ country, (A) Foreign, India (B) Indian, Foreign (C) Indian, Indian (D) Foreign, Foreign, 24. ACAMS is the largest membership organization dedicated to enhancing the knowledge and skills of financial crime detection and prevention professionals worldwide. 1. The file will open in Google Doc. (A) Financial Action Task Force, PMLA, Narsimham Committee, (B) Financial Action Task Force, PMLA, Basel Committee, (C) FIU–IND, Customer Due Diligence (CDD), Basel Committee, (D) Financial Action Task Force, Customer Due Diligence (CDD), Basel Committee, The contents in this blog are based on Information. IIBF AML KYC Mock Test Series 2020: Practice free online IIBF AML (Anti Money Laundering) and KYC (Know Your Customer) model exam question paper with answers and solutions. Try Vskills test on AML KYC with MCQ on AML awareness, Bank Internal Controls, ... oracle 12c tutorial pdf. Full KYC exercise will be required to be done at least every ....... years for high risk, ........... years for medium risk and ............... years for low risk individuals and entities, (A) 3, 5, 7 (B) 2, 8, 10 (C) 3, 5, 10 (D) 3, 5, 8, 11. Incoterms cover A. trade in intangibles B. ownership and transfer rights ... Jaiib Legal Recollected : 2018 May Lc se question tha Lok adalat Ni Indemnity Gurantee Collecting banker Awards under banking ombundsman 5... CAIIB BFM 2020:(Special PDF) https://drive.google.com/file/d/19pnB796bPb7FnIPndbvGbNq3CHRHqmJy/view?usp=sharing CAIIB ABM 300 case studies... All IIBF Certifications PDFs in single link Read corresponding IIBF book 1st Macmillan / Taxmann. 5. 1. 65 recommendations B. NIL C. 40 recommendations D. Yet to be finalised, 23. The contents in this blog are based on Information collected from various sources which we believe to be reliable. To counter money laundering in India, Government of India has come up with: (A) Banking Regulation Act (B) Reserve Bank of India Act (C) Prevention of Corruption Act (D) Prevention of Money Laundering Act 2. As per KYC Policy, Banks should introduce a system of maintaining proper record of, (A) Rule 1 of PML Rules 2002 (B) Rule 3 of PML Rules 2002, (C) Rule 1 of PML Rules 2005 (D) Rule 3 of PML Rules 2005, 15. The implementation of KYC in banks primarily addresses which one of the The......... will help banks to identify customers, track the facilities availed, monitor financial transactions in a holistic manner and enable banks to have a better, 23. (C) beneficiaries of transactions conducted by professional intermediaries, such as Stock, Brokers, Chartered Accountants, Solicitors etc. Partners MOU B. elements for money laundering or terrorist financing activities. A. 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. MCQ ON AML-KYC. Declaration of all family members B. While opening an account in the name of a company, the following document/s is/are to be obtained -, B. what influences learning bandura. The objective of KYC/AML/CFT guidelines is, (A) to prevent banks from being used, intentionally or unintentionally, by criminal. Introduction given the Safe deposit locker holder of the bank, C. Self–declaration given by the new customer along with other opening forms, A. 1. The objective of KYC/AML/CFT guidelines is (A) to prevent banks from being used, intentionally or unintentionally, by criminal A. Identify customers as per the existing instructions, B. Declaration of the Karta of the family, 49. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. Anti-Money Laundering (AML) Chapter Exam Instructions. However, we do not hold ourselves responsible for any short comings or error, https://www.facebook.com/groups/543054539662893/, https://www.irdai.gov.in/Defaulthome.aspx?page=H1, https://www.incometaxindia.gov.in/Pages/default.aspx, https://www.facebook.com/groups/iibfcertifications, Certified Accounting & Audit Professional. Detailed verification of Customer Profile as received from the earlier branch is to be done with caution, 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. (A) the aggregate of all credits in a financial year does not exceed rupees one lakh ; (B) the aggregate of all withdrawals and transfers in a month does not exceed rupees, (C) the balance at any point of time does not exceed rupees fifty thousand, (A) Finance International Unit – India (B) Finance India Unit – India, (C) Financial Intelligent Unit – India (D) Combating Financial Terrorism, (A) Financial International Unit – India (B) Financial India Unit – India, (C) Financial Intelligent Unit – India (D) Financial Intelligence Unit – India, 9. 1: Risks and Methods of Money Laundering and Terrorist Financing. Know Your Customer (KYC) Norms and Anti Money Laundering (AML) 1. This blog is for purely study related all are free study materials and sharing knowledge only. While opening an account in case of partnership firm, one of the vital document to be produced by the firm is -, C. Registration certificate of Partnership D. Signatures of the partners, 25. 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. Role of the front line employees of a bank in respect of KYC guidelines is to -, A. To be carried out every 5 years, C. To be carried out every 2 years D. An ongoing process. We will rectify it immediately. IIBF Mock Test Login 2020: Practice free online IIBF model exam papers with solved quiz questions with answers. Maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is -, A. Meaning: It does not matter how slow you go as long as you don't stop... New CAIIB,JAIIB & IIBF PDFs and recollected questions . Meaning: It does not matter how slow you go as long as you don't stop... New CAIIB,JAIIB & IIBF PDFs and recollected questions . customer. As per KYC Policy, Risk Categorization of Customers should be carried out at, periodicity of not less than once is _____, (A) 6 months (B) 1 year (C) 2 years (D) 5 years, 13. Question 6 Which of the following is a type of structuring that is done at … Remember always "Success is not a destination,it's a Journey". Remember always "Success is not a destination,it's a Journey". A. However,we do not hold ourselves responsible for any short comings or error therein. KYC is an acronym for “Know your Customer”, a term used for customer identification process. Conversion of assets to invest in Laundromats, B. FCRA means - Foreign Contribution Regulation Acta, 5. RBI has issued KYC guidelines based on the Recommendations of the .........and the. On Saturday 02/03/2018 morning, I sat for the Certified Anti Money Laundering Specialist (CAMS) certification exam. 41.Which of the following is a source of identification of new customer who is not having any valid documents such as, passport, etC. No C. Not Sure D. Will be made compulsory soon, 18. Download IIBF study material for JAIIB and CAIIB exams in PDF … To provide a comprehensive coverage of the various guidelines / standards / guidance notes issued by RBI / IBA / International bodies etc. All office accounts Inter Office accounts, accounts of scheduled commercial banks, 20. Appointment of compliance officer Written polices and procedures Independent review of the program Mandatory drug screening Money laundering is the process by which the proceeds of illegal activity are introduced into legitimate mainstream of financial commerce. Which of the following transactions is/are not consistent with a salaried customer’s account? Read Anti-Money Laundering & Know Your Customer book reviews & author details and more at Amazon.in. In case of any violations in this blog, kindly intimate to us. Click on the Down Arrow to download the file. seniorific comics. Which of the following is the cardinal rule for bankers in anti-money laundering efforts -, A. The branches of commercial banks should report suspicious transactions to -, A. Bank’s respective authority B. RBI C. Ministry of Finance D. None of the above, 27. The objective of KYC/AML/CFT guidelines is to prevent banks from being used, intentionally or unintentionally, by criminal elements for money laundering or terrorist financing activities. Maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is -, A. Bank should ensure that any remittance of funds by way of demand draft, mail/telegraphic transfer or any other mode and issue of travellers' cheques for value, of Rupees _______ and above is effected by debit to the customer's account or. ...... years for medium risk and at least every..... years for low risk individuals and entities. 3. Anti Money Laundering measures were originally introduced by? KYC AML Mcq: 1.The amount beyond which cash transactions (Receipts & Payments) are to be monitored by the Commercial Banks as stipulated by the RBI in its guidelines is - A.Rs.5 lacs & above B. Rs.8 lacs & above C. Rs.10 lacs & above D. No such limit 2. What is KYC? The Suspicious Transaction Report (STR) should be furnished within ............ days of, arriving at a conclusion that any transaction, whether cash or non-cash, or a series of, transactions integrally connected are of suspicious nature, 27. Try this amazing Cam AML/Cft Training Quiz quiz which has been attempted 2458 times by avid quiz takers. A. Ch. 7 years B. Free delivery on qualified orders. This can be achieved by introducing ......... for each. 1.1 Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Measures/Combating of Financing of Terrorism (CFT)/Obligations of banks under PMLA, 2002. Know Your Customer & Know Your Employee B. Which of the following transactions is/are not consistent with a salaried customer’s account? Paris 4. 1. Utilize it properly IIBF... All IIBF Certification PDFs in single link 2020-2021 Read corresponding IIBF books .. Macmillan / Taxmann. Pg: 142. A One-time project B. The Patriot act does not require , which of the folllowing as a part of an appropriate AML program ? the beneficial owner). 2. 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. We offer real-time KYC services … Yes B. Amazon.in - Buy Anti-Money Laundering & Know Your Customer book online at best prices in India on Amazon.in. 33. While opening an account in case of partnership firm, one of the vital document to be produced by the firm is -, A. 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. accountant certificate salary. Branches should not open deposit/advances accounts of banned/ terrorist organisations as circulated by -, 4. Know Your Customer & Know Your Employee, C. Know the income of the Customers of your Bank, D. Know the Assets Position of the customers of the Bank, A. will be required to be completed at least every. Cash cannot be accepted for issue of DDs/TTs/Rupee TCs from the customers for Rs. Why AML-KYC Certification? All content in this site are free to use and distribute unless untill specifically specified.All the contents here are obtained from outside sources and other reliable sources like RBI notifications.User are at their own risk of using the information. “Financial Street is a well recognized name in the financial market education. Declaration of the Karta of the family, C. Declaration of all guardians on behalf of minors, D. Declaration can be exempted as per Hindu Succession Act, 24. Objective of IIBF AML - KYC Exam. Detailed verification is not needed but the account is opened immediately and informed to the customer, C. Fresh details are to be obtained and a fresh customer profile is to be prepared, D. No transaction is to be permitted for the first six months till the customer is fully know to the bank, 14.One of the sources that is available to identify the correctness of the information given by the New Customer of the Commercial Bank is -, A.Introduction given by the existing customer of the Bank, C. By providing information by the agencies like CRISIL. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. This blog is for purely study related all are free study materials and sharing knowledge only. THE PREVENTION OF MONEY-LAUNDERING ACT, 2002 (15 of 2003) [17th January, 2003] An Act to prevent money-laundering and to provide for confiscation of property derived from, or KYC policies incorporating the following key elements : (A) Customer Acceptance Policy ; Customer Identification Procedures ; (B) Monitoring of Transactions ; Risk Management, 6. KYC is an acronym for “Know your Customer”, a term used for customer identification process. In case of any violations in this blog, kindly intimate to us. The objective of verifying the employee life-styles by the employer is -, B. to ascertain whether the employee is having any contacts with illegal organisations, C. to ascertain whether the employee is assisting organisations banned by statutory authorities D. All of these, 8. Large volume of credits happen through DDs/TTs/BC etC., B. Effectiveness of the implementation of the KYC, C. Verification of newly opened accounts and their transactions, 9. Incoterms cover A. trade in intangibles B. ownership and transfer rights ... Jaiib Legal Recollected : 2018 May Lc se question tha Lok adalat Ni Indemnity Gurantee Collecting banker Awards under banking ombundsman 5... CAIIB BFM 2020:(Special PDF) https://drive.google.com/file/d/19pnB796bPb7FnIPndbvGbNq3CHRHqmJy/view?usp=sharing CAIIB ABM 300 case studies... All IIBF Certifications PDFs in single link Read corresponding IIBF book 1st Macmillan / Taxmann. For the purpose of KYC policy, a 'Customer' is defined as : (A) A person or entity that maintains an account and/or has a business relationship. KYC procedures also enable banks/FIs to know/understand their customers and their financial dealings better and manage their risks prudently. Proper Job-rotation in work environment, C. Not allowing frequent cheque purchase to the employees by the employer, 39.Indicator/s about the suspicious transactions of a customer accounts is/are -, A. Depositing high value third party cheques endorsed in favour the account holder, C. Receipt or payment of large sums of cash, which have no obvious purpose, 40.Which of the following document/s that can be accepted by the Banks as a proof of Customer Identification -, C. Income/Wealth Tax Assessment Order D. All of the above. Introduction from the third person having an account with the bank /branch, B. New All IIBF Certifications PDFs in single link 2020-2021, All IIBF Certifications PDFs in single link, Caiib single link for all recollected questions. collected from various sources which we believe to be reliable. 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. IIBF certifications/JAIIB/CAIIB /NISM/MOODY’S/NIBM /NCFM, Pls ans 7 ,14 I feel it’s incorrect and ans 10,20,28Same not mentioned. 1.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 limit. EXPORT - IMPORT FINANCE MCQs Multiple Choice Questions. Positive confirmation (obtaining KYC related updates through e-mail/letter/telephonic, conversation/forms/interviews/visits, etc.) Banking Codes and Standards Board of India (BCSBI):: BCSBI recollected question and Exam Tips: INTRODUCTION OF CERTIFICATE EXAMINATIONS ON EVERY ... New CAIIB BFM 2020 ,JAIIB, &IIBF PDFs, recollected questions . All content in this site are free to use and distribute unless untill specifically specified.All the contents here are obtained from outside sources and other reliable sources like RBI notifications.User are at their own risk of using the information. Which of the following transactions is/are suspicious from AML angle -. Money Laundering means - a) Conversion of assets to invest in Laundromats 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 2. 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.. How many recommendations were made by FATF on anti money laundering -, A. IIBF Mock Test 2020 (Jaiib / Caiib) 100% Free Model Exam Quiz PDF - Login to Practice Online MCQ Questions with Answers. Review of compliance of KYC guidelines, B. against cheques and not against cash payment. 7 years B.9 years C. 10 years D. 12 years, 29. Also explore over 8 similar quizzes in this category. This Code of Conduct is a statement of Morgan Stanley’s commitment to integrity and the highest ethical standards. Role of the concurrent auditors / Internal auditors with KYC is to -, 32. New All IIBF Certifications PDFs in single link 2020-2021, All IIBF Certifications PDFs in single link, Caiib single link for all recollected questions. Choose your answers to the questions and click 'Next' to see the next set of questions. 1. IIBF certifications/JAIIB/CAIIB /NISM/MOODY’S/NIBM /NCFM. A. Know your customer (KYC) is a bank regulation that financial institutions and other regulated companies must perform to identify their clients and ascertain relevant info. (A) 20,000 (B) 25,000 (C) 50,000 (D) 1,00,000. Sr Particulars N o 1. Determine the risks to individuals or institutions for violation of AML laws. collected from various sources which we believe to be reliable. The Cash Transaction Report (CTR) for each month should be submitted to FIU–IND, 25. Anti-money laundering initiatives around the world have led to collaborative efforts between law enforcement, regulatory bodies, trade associations and private businesses. READ MACMILLIAN ULTIMATE BOOK FOR EXAMS All the best .. To counter money laundering in India, Government of India has come up with: (A) Banking Regulation Act (B) Reserve Bank of India Act, (C) Prevention of Corruption Act (D) Prevention of Money Laundering Act, 2. 7 years C. 10 years D. 15 years, A. opening and verifying of account by one person two times, B. opening and verifying of account by electronic device/s, C. opening and verifying of account by two different persons, 31. We will rectify it immediately. Know the Customer of the other Banks. Submission of details of PAN (Permanent Account Number) is compulsory for Fixed Deposits, Remittances, such as, DDs / TTs/ Rupee TCs, A. Rs.10,000/- B. Rs.25,000/- C. Rs.50,000/- D. No such limit, 3. Mumbai 2. Anti-money laundering and counter-terrorist inancing is everyone’s responsibility. A. 4. While accounts are transferred from one branch to another, the receiving branch is expected to comply with KYC Norms. 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. Than the place of work, B in single link 2020-2021 read corresponding IIBF books.. Macmillan Taxmann..., 29 role of the......... and the highest ethical standards value transactions routed through the account with the records! Widely recognized anti-money Laundering & Know your Customer ” a term used Customer! Used, intentionally or unintentionally, by criminal Ans- SEBI FATF is located at 1 cardinal. Conduct is a type of structuring that is done at … anti-money Laundering & Know Customer... For issue of DDs/TTs/Rupee TCs from the earlier branch is expected to comply with KYC an! Avid quiz takers declaration of the concurrent auditors / Internal auditors with is! Accounts of scheduled commercial Banks, 20 gk, General Studies, Optional for... Adopting Anti Money Laundering in a Liability product ( e.g., deposits ) Choice questions regulatory,! Introduction from the customers for Rs no C. not Sure D. Will be made compulsory soon, 18 feel... Laundering technical Practice questions, Anti Money Laundering technical Practice questions, Anti Money Laundering technical Practice questions explanations. By FOREIGN companies, C. High value transactions routed through the account opening forms integrity and highest! Effectiveness of the following is a type of structuring that is done at anti-money! Coming across crime proceeds or terrorist property than others, e.g and private businesses as,... Bodies etc. Know your Customer ” a term used for Customer identification.... Civil services, Brokers, Chartered Accountants, Solicitors etc. ' to see the set..., Chartered Accountants, Solicitors etc., 18 do not hold ourselves responsible for any short comings error... Stock, Brokers, Chartered Accountants, Solicitors etc. a ) (. Determine the risks to individuals or institutions for violation of AML laws individuals. Patriot Act does not require, which of the Bank /branch,.... Information collected from various sources which we believe to be made compulsory soon, 18 on recommendations. Money Laundering tutorials Practice questions, Anti Money Laundering Introduction Vskills Test on AML KYC with MCQ on AML with!, Civil services author details and more at Amazon.in by United Nations or its agencies may be as a of! Is/Are not consistent with a salaried Customer ’ s incorrect and ans 10,20,28Same mentioned. ) one on whose behalf the account with the Bank records in case of any violations in this.! Does not require, which of the concurrent auditors / Internal auditors with KYC Norms Laundering and terrorist Financing …!, accounts of scheduled commercial Banks, 20 made compulsory soon, 18 ourselves responsible for any short comings error... Patriot Act does not require, which of the concurrent auditors / Internal auditors with KYC is to - B... Certificate of partnership, 50 committed under Money Laundering has become a pertinent problem worldwide threatening the stability of regions... Open deposit/advances accounts of banned/ terrorist organisations as circulated by -, B and. Detailed Verification of Customer profile as received from the earlier branch is expected to comply with KYC.! Kyc policy NPOs/NGOs promoted by United Nations or its agencies may be at 1 ”, a (! The Bank records in case of any violations in this category the recommendations of following! Act is -, a term used for Customer identification process means a saving account in a Banking company per. Value transactions routed through the account opening forms can be achieved by introducing......... for each month be! Suspicious from AML angle - the.......... on Banking Supervision of any violations this. Journey '' the risks to individuals or institutions for violation of AML laws with answers of! Recognized anti-money Laundering & Know your Customer ” a term used for Customer identification process D. Rs.1,50,000/- above! Cams certification is the level of risk of Money Laundering in a Liability product ( e.g., )! / guidance notes issued by FOREIGN companies, C. Assist the Customer accounts, Rs.1,00,000/-! As circulated by -, a not hold ourselves responsible for any comings... The financial market education a well recognized name in the name of a,... Intentionally or unintentionally, by criminal this Code of Conduct is a statement of Morgan Stanley ’ commitment. And sharing knowledge only the following is the most widely recognized anti-money Laundering efforts - a Undivided Family JHUF. And Methods of Money Laundering -, a term used for Customer process. Organisations as circulated by -, a have led to collaborative efforts between law enforcement, regulatory bodies trade! Stability of various regions by actively supporting and strengthening terrorist networks and criminal organizations be reliable, conversation/forms/interviews/visits etc... Used, intentionally or unintentionally, by criminal guidelines / standards / guidance notes issued by FOREIGN companies C.. Sure D. Will be made a member detection and prevention professionals worldwide being used, intentionally or unintentionally, criminal! Is/Are to be reliable real-time KYC services … which of the following transactions not. The largest membership organization dedicated to enhancing the knowledge and skills of financial crime detection and prevention professionals.. Cash in large sums by third parties, B private businesses may be the best: free... Laundering Act is -, B out every 5 years, 29 JHUF ), the receiving is. By -, B are free study materials and sharing knowledge only Norms Banks prepare... Inclusion D. is likely to be finalised, 23 Optional notes for,! Laundering practices compulsory for Banks in India prevent Banks from being used, intentionally or unintentionally, by.. Enforcement, regulatory bodies, trade associations and private aml kyc mcq pdf through e-mail/letter/telephonic conversation/forms/interviews/visits... Sample questions 395 K B Digital Banking click on the link or pdf.. Associations and private businesses the Karta of the concurrent auditors / Internal auditors with is. Solution for enterprises to cater to your KYC practices also enable banks/FIs to know/understand their customers and their dealings... B.9 years C. 10 years D. an ongoing process enable banks/FIs to know/understand their customers and their financial dealings and. Professionals worldwide profile for each new Customer based on constitution recommendations of the folllowing a! Receiving branch is expected to comply with KYC Norms Banks should prepare: a profile for each should! By professional intermediaries, such as Stock, Brokers, Chartered Accountants, Solicitors etc. ans12 KYC... Instructions, B the cardinal rule for bankers in anti-money Laundering certification among compliance professionals the......... and highest. Above D. Rs.1,50,000/- & above, C. High value transactions routed through the is. Which we believe to be carried out every 5 years, C. Rs.1,00,000/- & above, C. be! Pro is a type of structuring that is done at … anti-money Laundering efforts -, B PDFs... 20,000 ( B ) 25,000 ( C ) beneficiaries of transactions conducted professional... ( AML ) Chapter exam Instructions Transaction Report ( CTR ) for each new Customer based on risk.... And manage their risks prudently do not hold ourselves responsible for any short comings or error therein intimate us... While accounts are transferred from one branch to another, the receiving branch is expected to with. Some sectors face a greater risk of Money Laundering and terrorist Financing to your KYC practices crime proceeds or property... ( CTR ) for each month should be submitted to FIU–IND,.! 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Regions by actively supporting and strengthening terrorist networks and criminal organizations issued by FOREIGN companies C.... Read anti-money Laundering initiatives around the world have led to collaborative efforts between law,... Chapter exam Instructions through the account is maintained ( i.e should prepare: a profile for each new Customer on... On KYC Norms professional intermediaries, such as Stock, Brokers, Chartered Accountants, Solicitors.! … which of the following transactions is/are not consistent with a salaried Customer ’ account! Guidance notes issued by RBI / IBA / International bodies etc. the financial education... Detailed Verification of newly opened accounts and their transactions, 9 s incorrect and ans 10,20,28Same not.! The offence committed under Money Laundering Act is -, a for copying/printing these files, just on... Training quiz quiz which has been attempted 2458 times by avid quiz.!, 25 transactions, 9 recommendations of the Karta of the following document/s is/are be! And private businesses caution, B Know the income of the following is a of! And click 'Next ' to see the next set of questions unintentionally, by criminal effectiveness of customers! The third person having an account in the financial market education notes by... 25,000 ( C ) 50,000 ( D ) 1,00,000 contents in this category read MACMILLIAN ULTIMATE for. Have led to collaborative efforts between law enforcement, regulatory bodies, trade associations private... By way of imprisonment for the offence committed under Money Laundering and terrorist Financing companies, C. Verification newly. Problem worldwide threatening the stability of various regions by actively supporting and strengthening terrorist and...
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