IIBF KYC AML Quiz 2

Which of the following group of customers, will be categorized as a low risk customer, as per Provisions of KYC

• Govt. Dept. A joint stock company
  

• Partnership firm, a salaried employee
  

• A salaried employee, govt. dept.
  

• All the options are correct
  

In cases where banks are acting as agents for selling third party products, bank has to verify the identity of the walk-in customer for transaction of above Rs. …

• Rs.1,00,000/-

  
  

• Rs. 5,00,000/

  
  

• Rs.2,00,000/-

  
  

• Rs. 50,000/-

  
  

Is the bank responsible for filing CTR/STR, in respect to transactions relating to third party products with customers?

• The responsibility lies with the owner of the product
  

• The bank is responsible for transactions of their account holders only.
  

• With respect to transactions, bank has to file the reports of the customers including walk-in customers
  

• None of the above
  

Which is the Central Govt. Agency, which receives, analyses, processes and disseminates the information regarding money laundering to appropriate national and international authority?

• RBI
  

• Financial Intelligence Unit-India
  

• RAW
  

• Central Intelligence Bureau
  

In case of low risk customers full KYC is required to be done by the bank:

• Not less than 2 years
  

• Not less than 5 years
  

• Not less than 10 years
  

• Not required
  

Risk category review under KYC has to be undertaken by banks

• Not less than once in 2 years
  

• Not less than once in 1 year
  

• Not less than once in 6 months
  

• Not less than once in 3 months
  

In case of high risk customers, full KYC is required to be done by the bank

• Not less than 5 years
  

• Not less than 3 years
  

• Not less than 2 years
  

• Not less than 1 year
  

KYC Templates are meant for what purpose?

• Templates prepared to facilitate collating and reporting the KYC data to the CKYCR
  

• There are two templates one for individual and one for Legal entities
  

• Templates prepared to facilitate collating and reporting the KYC data to FIUIND
  

• a & b
  

KYC guide lines have been issued by RBI under the provisions of

• Section 35 of Banking Regulation Act
  

• Section 35-A of RBI Act
  

• Section 35-A of Banking Regulation Act
  

• Section 35-A Prevention of Money Laundering Act
  

What is the minimum balance that the banks can stipulate in a Basic savings bank deposit?

• Account
  

• No such conditions can be imposed
  

• Rs 10
  

• Rs100