Q1 Consider the following statements: Q2 What two pieces of legislation form the primary legal framework for Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) in India? Q3 Which of the following statements regarding the compliance requirements for foreign branches/subsidiaries of Indian Regulated Entities (REs) are correct? Q4 Which of the following statements regarding the identification of a "Beneficial Owner" (BO) are correct? Q5 Which of the following statements regarding "Officially Valid Documents" (OVDs) are correct? Q6 When identifying the beneficial owner(s) for a trust, which of the following parties must be identified? Q7 For Non-Resident Indians (NRIs), a certified copy of an officially valid document can be obtained from all of the following except: Q8 Which of the following statements regarding the "Designated Director" are correct? Q9 What does the "Digital KYC" process involve? Q10 A "Suspicious transaction" is a transaction that gives rise to a reasonable ground of suspicion for all of the following reasons except: Q11 Which of the following statements regarding "Customer Due Diligence (CDD)" are correct? Q12 What does "On-going Due Diligence" mean? Q13 The definition of "Regulated Entities" (REs) includes all of the following except: Q14 What is a "Shell Bank"? Q15 The "Video based Customer Identification Process (V-CIP)" is described as an alternate method of customer identification with facial recognition and …… by an authorised official of the Regulated Entity (RE). Q16 In the context of wire transfers, what does "Cross-border wire transfer" refer to? Q17 Every Regulated Entity (RE) which is part of a group must implement group-wide programmes against money laundering and terror financing. What must these programmes include? Q18 Which of the following statements regarding the 'Designated Director' and 'Principal Officer' are correct? Q19 Which of the following statements regarding a Regulated Entity's (RE's) Customer Acceptance Policy are correct? Q20 According to the Money Laundering (ML) and Terrorist Financing (TF) Risk Assessment guidelines, what is the minimum frequency for reviewing the risk assessment exercise? Q21 What is the rule regarding the outsourcing of Know Your Customer (KYC) norms? Q22 If an existing KYC compliant customer of a Regulated Entity (RE) desires to open another account with the same RE, what is the required procedure? Q23 What action should a Regulated Entity (RE) take if it forms a suspicion of money laundering and reasonably believes that performing the Customer Due Diligence (CDD) process will tip-off the customer? Q24 What is the policy regarding the disclosure of a customer's risk categorization? Q25 For undertaking Customer Due Diligence (CDD) for an individual, what must be obtained in addition to their identity and address proof (like Aadhaar or an OVD)? Q26 Which of the following statements regarding a Regulated Entity's (RE's) reliance on a third party for Customer Due Diligence (CDD) are correct? Q27 Which of the following statements regarding the use of Aadhaar for customer identification are correct? Q28 Accounts opened using Aadhaar OTP based e-KYC in non-face-to-face mode shall not be allowed to operate for more than what period unless full Customer Due Diligence (CDD) is completed? Q29 Regulated Entities (REs) may undertake Video based Customer Identification Process (V-CIP) for all of the following purposes except: Q30 Which of the following statements regarding the technical and procedural requirements for Video based Customer Identification Process (V-CIP) are correct? Q31 Which of the following statements regarding the post-process requirements for Video based Customer Identification Process (V-CIP) are correct? Q32 Which of the following statements regarding the rules for a 'Small Account' are correct? Q33 Which of the following statements regarding the Customer Due Diligence (CDD) for a sole proprietary firm are correct? Q34 According to the rules for identifying a Beneficial Owner (BO) for a Legal Person, in which of the following cases is it not necessary to identify and verify the identity of any shareholder or beneficial owner? Q35 What is the minimum periodicity for a Regulated Entity (RE) to conduct a periodic review of the risk categorisation of accounts? Q36 What is the minimum periodicity for carrying out periodic updation of KYC for different customer risk categories? Q37 For an individual customer categorized as low risk, what is the extended timeline provided for the updation of KYC that has fallen due? Q38 For opening an account of a partnership firm, certified copies of all the following documents are required except: Q39 Which of the following statements regarding the periodic updation of KYC for an individual customer are correct? Q40 Which of the following statements regarding periodic KYC updation procedures are correct? Q41 If there is any update in the documents submitted by a customer at the time of establishing an account-based relationship, within what period must the customer submit the update to the Regulated Entity (RE)? Q42 Which of the following statements regarding the consequences of non-compliance with PAN or Form No. 60 requirements are correct? Q43 Which of the following statements regarding Enhanced Due Diligence (EDD) for non-face-to-face customer onboarding (other than Aadhaar OTP e-KYC) are correct? Q44 Which of the following statements regarding "Politically Exposed Persons" (PEPs) are correct? Q45 Which of the following statements regarding the preservation of records by Regulated Entities (REs) are correct? Q46 What is the rule for Regulated Entities (REs) regarding professional intermediaries who are bound by client confidentiality? Q47 What Customer Due Diligence (CDD) is required when opening a savings bank account for a Self Help Group (SHG)? Q48 When a bank opens a Non-Resident Ordinary (NRO) account for a foreign student, what transaction limitations apply pending the verification of the local address? Q49 What is the requirement for Regulated Entities (REs) regarding customers who are non-profit organisations (NPOs)? Q50 Consider the following statements: Q51 Which of the following statements regarding sanctions list verification are correct? Q52 Which of the following statements regarding compliance with the WMD Act, 2005 are correct? Q53 When are Regulated Entities (REs) required to undertake countermeasures called for by an international or intergovernmental organisation? Q54 When dealing with persons from jurisdictions identified by the Financial Action Task Force (FATF) as having strategic deficiencies, what are Regulated Entities (REs) required to examine? Q55 Regulated Entities (REs) must maintain secrecy regarding customer information. All of the following are listed as exceptions to this rule except: Q56 Which of the following statements regarding the uploading of records to the Central KYC Records Registry (CKYCR) are correct? Q57 An RE retrieves a customer's KYC record from CKYCR using their KYC Identifier. Under which circumstance can the RE then ask the customer to submit additional identification documents? Q58 What is the maximum period for which payment instruments like cheques, drafts, and pay orders are valid for payment? Q59 How are "Money Mules" described in the context of banking operations? Q60 What action must Regulated Entities (REs) take before launching new products, business practices, or using new technologies? Q61 Which of the following statements regarding correspondent banking relationships are correct? Q62 Which of the following statements regarding wire transfer information requirements are correct? Q63 What must a beneficiary Regulated Entity (RE) have in place to determine when to execute, reject, or suspend a wire transfer that lacks required originator or beneficiary information? Q64 When a Regulated Entity (RE) engages with an unregulated entity in the process of a wire transfer, what must the agreement or arrangement with that entity clearly include? Q65 Which of the following statements regarding transaction rules at the ₹50,000 threshold are correct? Q66 Which of the following statements regarding an RE's staffing and audit policies for AML/KYC compliance are correct? Q67 Which of the following statements regarding the procedural rules for the "Digital KYC Process" are correct?