Monday, April 27, 2015

Day 13 - Questions


Day 13 - Know Your Customer (KYC)

( Know Your Customer, e-KYC )


Recommended Study links - (Go through these topics before attempting MCQs)


1.  What is the full form of KYC?
a.  Know Your Company
b.  Know Your Customer
c.  Know Your Custodian
d.  Know Your Current-Account

2.  Which of the followings are necessary for KYC?
a.  Identity
b.  Address
c.  Photograph and Signature
d.  All of the above

3.  Which of the followings are Officially Valid Documents (OVD) for identity proof?
i.  Passport
ii.  Driving License
iii.  EPIC Card
iv.  PAN Card
v.  Ration Card
vi.  Aadhar Card
vii.  NREGA Card

a.  All except (vii)
b.  All except (v)
c.  All except (v) and (vii)
d.  All except (iii)

4.  If a customer doesn't have any Official Valid Documents (OVD) for KYC, then -
a.  A Current account can be opened for him
b.  A Small Account can be opened for him
c.  A Savings Account can be opened for him
d.  A BSBDA Account can be opened for him

5.  What is the time period / validity for a Small Account without OVD?
a.  6 months
b.  12 months
c.  18 months
d.  24 months

6.  Currently, for e-KYC, which of the following is must?
a.  EPIC card number
b.  Aadhar card number
c.  Passport file number
d.  Mobile phone number

7.  What is the maximum account balance at any point of time in Small Account?
a.  Rs. 50,000
b.  Rs. 1 lakh
c.  Rs. 25,000
d.  Rs. 2 lakh

8.  Small account (without OVD), can be extended for a certain period of time, if customer provides the proof that he has applied for OVD. What is the extension period?
a.  6 months
b.  12 months
c.  2 years
d.  5 years

9.  PAN (Permanent Account Number) card information is maintained by -
a.  Union Home Ministry
b.  Income Tax Department, CBDT
c.  Ministry of External Affairs
d.  CBEC

10.  PAN card is mandatory for -
a.  Income Tax returns
b.  Tax Deduction at Source (TDS)
c.  bank deposits above Rs. 50,000
d.  All of the above


Note - Do not refer any source while answering the questions. You can comment in the Comment Section below.



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