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KYC Quiz Handout
KYC Quiz Handout
1. Smurfing means -
B. to ascertain whether the employee is having any contacts with illegal organisations
D. All of these
C. strict Implementation of the Banks Systems and procedures while opening the accounts
8. Which of the following transactions is/are not consistent with a salaried customers account?
C. High value transactions routed through the account with high frequency
C. Frequent deposits of cash into the account by persons other than the account holder or his
authorized representative
10. KYC is --
11. What is the level of risk of Money Laundering in a Liability product (e.g., deposits)?
12. Due diligence is done at the time of opening an account to enable banks to ensure -
13. While opening an account in case of partnership firm, one of the vital document to be produced by
the firm is -
A. Partners MOU
B. Partnership Deed
16. One of the sources that is available to identify the correctness of the information given by the New
Customer of the Commercial Bank is -
17. Which of the following document/s that can be accepted by the Banks as a proof of Customer
Identification -
A. Electricity Bill
B. Salary Slip
18. While opening an account in the name of a company, the following document/s is/are to be
obtained -
20. One of the important steps to be taken while opening NRI accounts is by the bank branch
23. For effective implementation of Know Your Employee, measures to be adopted by the banks are -
A. Depositing high value third party cheques endorsed in favour the account holder
D. None of these
A. Copy of Bye-Laws
29. In computerised branches, suitable filters are required in the software for the purpose of -
30. Role of the front line employees of a bank in respect of KYC guidelines is to -
31. While accounts are transferred from one branch to another, the receiving branch is expected to
comply with KYC Norms. Which one of the following is/are correct in this regard?
A. Detailed verification of Customer Profile as received from the earlier branch is to be done with
caution
B. Detailed verification is not needed but the account is opened immediately and informed to
the customer
D. No transaction is to be permitted for the first six months till the customer is fully know to the
bank
B. 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
C. To increase competition among the public sector and private sector banks
34. Which of the following is a source of identification of new customer who is not having any valid
documents such as, passport, etC.
A. Introduction from the third person having an account with the bank /branch
C. Selfdeclaration given by the new customer along with other opening forms
35. Which of the following is the cardinal rule for bankers in anti-money laundering efforts -
37. Due diligence is done at the time of opening an account to enable banks to ensure -
B. correctness of the various denominations of notes given by the customer while opening an
account
39. One of the important steps to be taken while opening Non Resident accounts is by the bank
branch
C. Authentication / verification of signature made by friends of the NRI who are staying
abroad