Q6: When identifying the beneficial owner(s) for a trust, which of the following parties must be identified?

Only the author of the trust and the trustee.

Only the beneficiaries with 25 percent or more interest in the trust.

The author of the trust, the trustee, the beneficiaries with 10 percent or more interest, and any other person exercising ultimate effective control.

Only the senior managing official of the trust.

✅ Correct Answer: C

For a trust, the identification of beneficial owner(s) includes the author of the trust, the trustee, beneficiaries with 10 percent or more interest, and any other natural person exercising ultimate effective control.

This is a core part of Customer Due Diligence (CDD) protocols tested in RBI KYC Guidelines MCQs.

← Previous (Q5) Which of the following statements regarding "... Next (Q7) → For Non-Resident Indians (NRIs), a certified ... 📚 Back to General Practice

Bank Promotion Exam Guide

Q6: When identifying the beneficial owner(s) for a trust, which of the following parties must be identified?

🔄 More from General Practice: