Banking Assessment - 1
Test Paper 1
- 1.Tick the correct answer: The time taken for effecting funds transfer from one account to another under RTGS is _________________.
- A.
2 hours
- B.
5 hours
- C.
24 hours
- 2.Tick the correct answer: Would the remitting customer receive an acknowledgement of money credited to the beneficiary's account?( RTGS)
- A.
Yes
- B.
No
- 3.Tick the correct answer: NEFT is ______________________________.
- A.
It is a payment made thru branch banking.
- B.
A nation-wide payment system facilitating one-to-one funds transfer.
- 4.Tick the correct answer: For being part of the NEFT funds transfer network, a bank branch has to be ______________ enabled.
- A.
NEFT
- B.
RTGS
- 5.Tick the correct answer: The maximum amount per transaction is limited to Rs.____________ for cash-based remittances and remittances to Nepal.
- A.
Rs.20,000/-
- B.
Rs.50,000/-
- 6.Tick the correct answer: NEFT operates in hourly batches - there are ________settlements from 8 am to 7 pm on week days (Monday through Friday) and ________ settlements from 8 am to 1 pm on Saturdays.
- A.
Twelve, six
- B.
Fourteen, seven
- 7.Tick the correct answer: IFSC is ___________________________.
- A.
Indian Financial System Character
- B.
Indian Financial System Code
- 8.Tick the correct answer: Credit confirmation of the remittances sent by ________________.
- A.
SMS or email
- B.
Courier
- 9.State True or False: In case of NEFT, the remitter need not send the physical cheque or Demand Draft to the beneficiary.
- A.
True
- B.
False
- 10.State True or False: The main objective for following the KYC is to enable the Bank to have positive identification of its relationship
- A.
True
- B.
False
- 11.State True or False: Individuals, firms or corporates maintaining accounts with a bank branch can transfer funds using NEFT.
- A.
True
- B.
False
- 12.Tick the correct answer: Full form for KYC is _________________.
- A.
Know Your Card
- B.
Know Your Credit balance
- C.
Know Your Customer
- 13.Tick the correct answer: All banks are advised by ______________ to follow the KYC guidelines.
- A.
RBI (Reserve Bank of India)
- B.
SBI (State Bank of India)
- C.
BOM (Bank of Maharashtra)
- 14.Tick the correct answer: KYC is carried out at the following stages _______________________________.
- A.
Opening an FD, applying for a lost debit card, applying for cheque book, want to close the account.
- B.
Opening an account, opening a locker, changes in address or signature, when extra information required by the bank.
- 15.Tick the correct answer: The documents required for KYC are _______________________________.
- A.
Photograph and College Certificates.
- B.
Photograph, Proof of Identity and Proof of address.
- 16.Tick the correct answer: Being asked for KYC documents does not imply that the customers are suspected of _____________.
- A.
Money Laundering
- B.
Small deposits account
- C.
Lein
- 17.Tick the correct answer: Some proofs of Identity & Address for Individuals are __________________.
- A.
Passport , Election ID ,Driving Licence.
- B.
Partnership deed, Certificate of incorporation , Trust deed.
- 18.Tick the correct answer: The documents which are used for address for individuals are ________________.
- A.
Salary Slip & Ration card
- B.
Electricity Bill & Ration Card
- 19.State True or False: The documents which are used for identity for individuals are Pan card, ID of reputed company.
- A.
True
- B.
False
- 20.Tick the correct answer: CTR is _____________________.
- A.
Cash Transaction Receipt
- B.
Cash Transaction Record.
- C.
Cash Transaction Ratio
- 21.Tick the correct answer: STR is ______________________.
- A.
Suspicious Transaction Record
- B.
Super Transaction Record
- C.
Sum Transaction Record
- 22.Tick the correct answer: FIU-IND is ____________________________.
- A.
Financial Intelligence Unit – Indonesia
- B.
Financial Intelligence Unit – India
- C.
Fixed Intelligence Unit - India
- 23.Tick the correct answer: KYC is _____________________________.
- A.
A framework for banks which enables them to know / understand the customers and their financial dealings to be able to serve them better.
- B.
A framework for institutions which enables them to know the agents and their dealings.
- 24.State True or False: Small deposit accounts are those accounts where, Balance does not exceed Rs. 50,000/- and Annual turnover does not exceed Rs. 1,00,000/-
- A.
True
- B.
False
- 25.State True or False: Customers can open small deposits accounts by getting introduced by existing fully KYC compliant account as also attestation of address / photograph by him.
- A.
True
- B.
False
Questions: 50 | Attempts: 69235 | Last updated: Mar 22, 2022
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Questions: 50 | Attempts: 57019 | Last updated: Mar 22, 2022
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Sample QuestionDirection for the Questions: Read the following carefully and answer the question given below it. The Central Bureau of Investigation has issued notices to the brother based in London and Geneva to “join” the probe into the payoffs case that has gone on for over a decade. The agency has given the NRI brothers a week’s time to respond to notice. The notices have been issued through the Indian diplomatic mission in Geneva and London, while they have repeatedly denied any involvement in the Rs. 1437 Crore gun deal; it is widely known that they have blocked the transfer of Swiss Bank document to India over the past decade. Their appeal against the transfer of documents was defeated at the three levels in Swiss Court. While the first set of document was brought home in January 1997 by CBI, it got the second set on December 19. The CBI move to send notices to the influential NRI family gains importance, particularly after it has devoted some time in scrutinizing the second set of document which were ordered to be retained by the agency by a Delhi Special Court. Though the sources would not comment on the progress made in scrutinizing the second set of Swiss Document, they maintained that the CBI could be looking for “clues” that in some ways or the other could be looking for “Clues” that in some way or the other could link the brothers to another to stream of payment running into a few crores of rupees. Why has CBI issued a notice to the brothers?
Questions: 16 | Attempts: 6378 | Last updated: Mar 22, 2022
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Sample QuestionThe business dealing with money and credit is:
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