Law and Practice Quiz 1

 

Law and Practice Quiz

1. As per KYC norms, for identity of the person,following additional details need to be collected -

Employment details such as job specifications, name and address of the employer
Provide details about source of income and annual income
Details of assets owned such as house, vehicle etc
All


2. Mainly, KYC norms are for -

Identification of the customer
Proper introduction of the customer
Monitoring of large value transactions
All


3. A minor can open Current account in his name at the age of

10 years
12 years
14 years
15 years


4. "Pledge", "Pawnor", and "Pawnee" are defined under Sec .....

124
126
148
172


5. "Contract of guarantee", "surety", "principal debtor" and "creditor" are defined under Sec .....

124
126
148
172


6. ‘Bailment’, ‘bailor’ and ‘bailee’ are defined under Sec .....

124
126
148
172


7. Normally the account should be opened with cash only and not with cheque, drafts. As per N I acts

128
130
131
148


8. ______ can not open PPF account ?

Individual
Minor
HUF
None


9. Which of the following is not steps or stages in Money Laundering

Placement
Layering
Integration
Punishment


10. where a guardian is appointed by a court, a person attains majority at the age of .....years

14
15
18
21