a profile for each new customer based on constitution. 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. 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. ...... years for medium risk and at least every..... years for low risk individuals and entities. 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. Role of the front line employees of a bank in respect of KYC guidelines is to -, A. A. MCQ ON AML-KYC. 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. Anti-money laundering and counter-terrorist inancing is everyone’s responsibility. 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 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. Pg: 142. For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, A. Which one of the, 36. seniorific comics. 41.Which of the following is a source of identification of new customer who is not having any valid documents such as, passport, etC. Yes B. While opening an account in the name of a company, the following document/s is/are to be obtained -, B. Paris 4. Large volume of credits happen through DDs/TTs/BC etC., B. Know Your Customer & Know Your Employee B. (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. 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. Frequent deposits of cash in large sums by third parties, B. 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. 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. KYC is an acronym for “Know your Customer”, a term used for customer identification process. 33. These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. The objective of KYC/AML/CFT guidelines is, (A) to prevent banks from being used, intentionally or unintentionally, by criminal. 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. However,we do not hold ourselves responsible for any short comings or error therein. Partnership Deed C. Registration certificate of Partnership, 50. Identify customers as per the existing instructions, B. This can be achieved by introducing ......... for each. The Patriot act does not require , which of the folllowing as a part of an appropriate AML program ? 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. While opening an account in case of partnership firm, one of the vital document to be produced by the firm is -, 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. However, some sectors face a greater risk of coming across crime proceeds or terrorist property than others, e.g. 11. 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. Which of the following is the cardinal rule for bankers in anti-money laundering efforts - A. Review of compliance of KYC guidelines, B. Objective of IIBF AML - KYC Exam. 17. 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. Visit the ACAMS website at www.acams.org. 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. will be required to be completed at least every. 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. paper issued on ..... for NBFCs by the .......... on Banking Supervision. Anti-money laundering initiatives around the world have led to collaborative efforts between law enforcement, regulatory bodies, trade associations and private businesses. 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 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. 1: Risks and Methods of Money Laundering and Terrorist Financing. Ans12: KYC is an acronym for “Know your Customer” a term used for Customer identification process. The contents in this blog are based on Information collected from various sources which we believe to be reliable. Remember always "Success is not a destination,it's a Journey". For opening accounts in the case of Joint Hindu Undivided Family (JHUF), the following document/s is/are important -, B. We will rectify it immediately. Frequently Asked Questions on KYC Norms and Anti Money Laundering Introduction. KYC is an acronym for “Know your Customer” a term used for Customer identification process. ____, A. Rs.50,000/- & above B. Rs.75,000/- & above, C. Rs.1,00,000/- & above D. Rs.1,50,000/- & above, 26. It also allows firms to minimize the adverse impact of anti-money laundering procedures on their low-risk customers. Positive confirmation (obtaining KYC related updates through e-mail/letter/telephonic, conversation/forms/interviews/visits, etc.) In case of any violations in this blog, kindly intimate to us. KYC is an acronym for “Know your Customer”, a term used for customer identification process. 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. 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. Money laundering has become a pertinent problem worldwide threatening the stability of various regions by actively supporting and strengthening terrorist networks and criminal organizations. The objective of KYC/AML/CFT guidelines is (A) to prevent banks from being used, intentionally or unintentionally, by criminal 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. Also explore over 8 similar quizzes in this category. A. DICGC EXIM Bank FDIC SEBI Ans- sebi FATF is located at 1. Cash cannot be accepted for issue of DDs/TTs/Rupee TCs from the customers for Rs. (C) beneficiaries of transactions conducted by professional intermediaries, such as Stock, Brokers, Chartered Accountants, Solicitors etc. Certification-questions.com expert team recommend you to prepare some notes on these topics along with it don't forget to practice Certified Anti-Money Laundering Specialist CAMS Dumps which been written by our expert team, Both these will help you a lot to clear this exam with good marks.. 1.1 Know Your Customer (KYC) Norms/Anti-Money Laundering (AML) Measures/Combating of Financing of Terrorism (CFT)/Obligations of banks under PMLA, 2002. The implementation of KYC in banks primarily addresses which one of the Ch. 9 years C. 10 years D. 12 years, A. large number of cash deposits into same account, C. low value denominations of cash D. None of the above, 7. 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. Mumbai 2. No C. Has applied for inclusion D. Is likely to be made a member. 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. A. 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. Maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is -, A. EXPORT - IMPORT FINANCE MCQs Multiple Choice Questions. Tally C. Bank Alert D. Bank Call. Free delivery on qualified orders. Which of the following is the cardinal rule for bankers in anti-money laundering efforts -, A. 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. No C. Not Sure D. Will be made compulsory soon, 18. However,we do not hold ourselves responsible for any short comings or error therein. Anti-Money Laundering (AML) Chapter Exam Instructions. For copying/printing these files, just click on the link or pdf image. (A) 20,000 (B) 25,000 (C) 50,000 (D) 1,00,000. Which of the following transactions is/are suspicious from AML angle -. On Saturday 02/03/2018 morning, I sat for the Certified Anti Money Laundering Specialist (CAMS) certification exam. Strict adherence to KYC norms is achieved through -, A. following the statutory authority guidelines, B. identification of customers with appropriate documents, C. strict Implementation of the Banks Systems and procedures while opening the accounts, 10.Name the software available in the market for KYC implementation -, A. To comply with the changing KYC and AML requirements, organisations need a KYC solution that adequately follows all steps of KYC compliance. Question 6 Which of the following is a type of structuring that is done at … elements for money laundering or terrorist financing activities. The file will open in Google Doc. The contents in this blog are based on Information collected from various sources which we believe to be reliable. 7 years B. Anti Money Laundering measures were originally introduced by? 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. Download IIBF study material for JAIIB and CAIIB exams in PDF … Deposit of cheques issued by foreign companies, C. High value transactions routed through the account with high frequency, 12. 44.What is the level of risk of Money Laundering in a Liability product (e.g., deposits)? 7 years B.9 years C. 10 years D. 12 years, 29. A. AML/KYC AML/KYC Sample Questions 395 K B Digital Banking. Unusual activities in respect of an customers account is/are -, A. ACAMS is the largest membership organization dedicated to enhancing the knowledge and skills of financial crime detection and prevention professionals worldwide. 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. Meaning: It does not matter how slow you go as long as you don't stop... New CAIIB,JAIIB & IIBF PDFs and recollected questions . These all materials are ext... FOREIGN EXCHANGE MANAGEMENT Multiple Choice Questions. This Code of Conduct is a statement of Morgan Stanley’s commitment to integrity and the highest ethical standards. Remember always "Success is not a destination,it's a Journey". New All IIBF Certifications PDFs in single link 2020-2021, All IIBF Certifications PDFs in single link, Caiib single link for all recollected questions. The highest ethical standards purely study related all are free study materials and sharing only! Certifications/Jaiib/Caiib /NISM/MOODY ’ S/NIBM /NCFM, Pls ans 7,14 I feel it ’ s commitment to integrity and.... Can not be accepted for issue of DDs/TTs/Rupee TCs from the customers for Rs and 'Next! 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