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1. What is the full form of RDA?
A. Rupee Draft Arrangement
B. Rupee Demand Arrangement
C. Rupee Draw Arrangement
D. Rupee Drawing Arrangement
E. None of the Above

2. FATF stands for ________
A. Financial Action Task Force
B. Financial Asset Task Force
C. Financial Asset Trade Force
D. Financial Action Trade Force
E. None of the Above

3. FATF, an Intergovernmental Organization is headquartered in __________
A. Newyork, USA
B. Geneva, Switzerland
C. Italy, Rome
D. Paris, France
E. None of the Above

4. How many members are there in FATF?
A. 42
B. 43
C. 40
D. 37
E. 39

5. Which of the following is an observer of FATF?
A. Ireland
B. Israel
C. Saudi Arabia
D. Both (B) and (C)
E. All of the Above

6. _________ is a way of transferring personal remittances from abroad to beneciaries in India
A. RDA
B. MTSS
C. Both (A) and (B)
D. All of the Above
E. None of the Above

7. The Overseas Principal should obtain necessary authorisation from the Reserve Bank of India under the provisions of which Act to commence/ operate a payment system?
A. Reserve Bank of India Act–1934
B. Banking Companies (Acquisition and Transfer of Undertakings) Act–1970
C. Banking Regulation (Companies) Rules, 1949
D. Payment and Settlement Systems Act (PSS Act), 2007
E. None of the Above

8. What is the maximum limit on the amount of money that can be sent under MTSS?
A. USD 2,500
B. USD 1,500
C. USD 1,000
D. USD 2,200
E. None of the Above

9. How many remittances can be received by a single individual beneciary under the scheme during a year?
A. 40
B. 45
C. 40
D. 35
E. 30

10. What is the maximum limit on cash payment that is to be made to the beneciary under MTSS in India?
A. Rs. 25,000
B. Rs. 15,000
C. Rs. 10,000
D. Rs. 40,000
E. Rs. 50,000

 

ANSWER:-
1)D. Rupee Drawing Arrangement
2)A. Financial Action Task Force
3)D. Paris, France
4)D. 37
5)D. Both (B) and (C)
6)B. MTSS
7)D. Payment and Settlement Systems Act (PSS Act), 2007
8)A. USD 2,500
9)E. 30
10)E. Rs. 50,000

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