The branches of commercial banks should report suspicious transactions to - Bank’s respective

authority RBI Ministry of Finance None of the above

In computerised branches, suitable filters are required in the software for the purpose of -

calculating the correct rate of interest printing out the customer profiles monitoring the

suspicious transactions sharing information/data to the Head Office

Branches should not open deposit/advances accounts of banned/ terrorist organisations as circulated by

- IRDA SEBI AMFI FIU

Banks are made accountable for opening an account in the name of terrorist organisation under ------ of POTA 2002

 Section 16

 Section 20

 Section 18

 None of the above

 Which of the following is/are the terrorist organisation/s notified under POTA, 2002 Khalistan

Zindabad Force Deendar Anjuman All Tripura Tiger Force All of these

FCRA means - Foreign Currency Regulation Act Foreign Contribution Regulation Act

Foreign Cheques / Commodities Regulation Act None of the above

“Smurfing” means - large number of cash deposits into same account one voucher for high

value deposit low value denominations of cash None of the above

The objective of verifying the employee life-styles by the employer is - to know the source of

income to ascertain whether the employee is having any contacts with illegal organisations to

ascertain whether the employee is assisting organisations banned by statutory authorities All of these

Which of the following Committee is accountable for implementation of KYC guidelines at apex level of

the Bank? Treasury Management Committee Risk Management Committee Audit

Committee Branch Committee

Strict adherence to KYC norms is achieved through - following the statutory authority guidelines

identification of customers with appropriate documents strict Implementation of the Banks

Systems and procedures while opening the accounts All of the above

Role of the front line employees of a bank in respect of KYC guidelines is to - Identify customers as

per the existing instructions Serve with Smile while opening the customer accounts Assist the

customer in filling-up the account opening forms Provide efficient customer service

Name the software available in the market for KYC implementation -

 Bank Master

 Tally

 Bank Alert

 Bank Call

 

Unusual activities in respect of an customers account is/are - Opening of account at a place other

than the place of work Frequent deposits of large sums of money bearing labels of other banks into

the account Request for closure of newly opened accounts where high value transactions are

routed through All of the above

For effective implementation of “Know Your Employee”, measures to be adopted by the banks are -

Verification of the life-styles of the employees Proper Job-rotation in work environment

Not allowing frequent cheque purchase to the employees by the employer All of the above

Which of the following is a source of identification of new customer who is not having any valid

documents such as, passport, etc. Introduction from the third person having an account with the

bank /branch Introduction given the Safe deposit locker holder of the bank Self–declaration

given by the new customer along with other opening forms None of the above

KYC is -- A One-time project To be carried out every 5 years To be carried out every 2

years An ongoing process

Is adopting Anti Money Laundering practices compulsory for Banks in India?

 Yes

 No

 Not Sure

 Will be made compulsory soon

 

One of the important steps in Money Laundering is - Placement & Layering Organisation &

Controlling Depositing & Withdrawing All of the these

Letter of thanks is sent to introducer/s because it is - laid down in the banks’ manual a routine

practice followed by banks for years recommended by the Auditors of banks assisting banks in verification of genuineness or otherwise of the address

Money Laundering means - Conversion of assets to invest in Laundromats Conversion of

money which is illegally obtained to make them legitimate Conversion of cash into gold to make

them legitimate Conversion of assets into cash to make them legitimate

 While opening an account in the name of a company, the following document/s is/are to be obtained -

 Organisation Chart of the company

 Roles and responsibilities of the Company

 Memorandum and Articles of Association of the Company

 Instructions of the Registrar of the Company

 

FATF is located at - Mumbai New York Paris Japan

 How many recommendations were made by FATF on anti money laundering -

 65 recommendations

  NIL

 40 recommendations

 Yet to be finalised

 

In case of societies, the important document to be verified is - Copy of Bye-Laws Certificate

given by the ROC Certificate given by the Local Authorities No document is to be verified in case of societies, as it is exempted

While opening an account in case of partnership firm, one of the vital document to be produced by the firm is -

 Partners MOU

 Partnership Deed

 Registration certificate of Partnership

 Signatures of the partners