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The offer document of a financial product specifies the conditions to be fulfilled by a prospective investor and the documentation needed, They are called:
PAN stands for:
—- involves disguising financial assets so that they can be used without detection of the illegal activity that produced them.
—– is an act to prevent money laundering and to provide for confiscation of property derived from, or involved in, money laundering and for related matters.
SID means:
SAI means:
KIM means:
KYC means:
The —– maintains the KYC records of an investor centrally onbehalf of the capital market intermediaries registered with SEBI.
ARN means:
KYD means:
Every mutual fund distributor is therefore requiredto apply for——simultaneously along with application for registration of the ARN code.
PAN is issued by_____
The ‘Know Your Customer’ process has to be under gone by all investors incompliance with the regulations of —–
Which of the following are mandatory investor information? (I) Name (II) Address (III) Bank account Information (IV) Permanent Account Number (PAN) (V)KYC Compliance
In the case of mutual funds, shares and bonds, demat account, post office savings bank accounts and most company deposits a purchase application can be made by a maximum of —— joint holders.
In others, such as a fixed deposit with a bank or the senior citizens savings scheme and the NSC, there can be a maximum of —- holders
The tax benefits from the investments and any tax liability on the income accrue to the —– holder.
——- is allotted to the investor at the time of the initial purchase or investmentor account opening
UCIC stands for:
______ are forms that can be used to carry out various transactions such as additional purchase, switch transactions, redemption and other such services in an existing folio
“—– is the prescribed form to apply for a PAN.
There are certain mutual fund transactions which are exempt from the requirement for submitting PAN. These are micro investments, i.e. investments upto —– in aggregate under all schemes of a fund house.
Insurance Premium payments in cashup to —– per transaction doesnot require PANcard.
Contributions to the NPS account to the extent of —– do not require PAN details to be provided.
In order to ensure that illegal funds are not routed into Indian markets, the government has promulgated the Prevention of Money Laundering Act (PMLA). According to this Act, the identity of those entering into financial transactions must be known and verified. The procedure to do this is known as —–
KYC norms apply for :I opening bank accounts II trading accounts, demat accounts, capital marke investments III life and general insurance policies IV investments in POSB products, fixed deposits (V) National Pension Scheme (NPS)
IPV stands for:
The E-KYC services of ——have also been recognized as valid processfor KYC verification.
SEBI Regulations requires all public issues whose size is in excess of —— to be issued only in dematerialised form
Under the SEBI (Depository and Participants) Regulations of 1996 the categories of securities eligible for dematerialisation are:
—– is the process of converting physical securities into electronic form.
DRF stands for:
A dematerialisation request may be fully or partially rejected for the following reasons:
The DRFs are required to be stored for at least a period of:
—– is the process of converting the electronic holding of a security to physical form.
—— is an instrument by which aperson may formally authorize another person to act on his behalf or as his agent on all matter or for a specific transaction or particular types of transactions.
—– Is unlimited in scope and duration and permits the named individual to act as your legal representative in relation to financial manner until such time as it is revoked.
—- emposes a limit on authority of named representatives and may restrict the scope of that person power to single type of conduct of transaction.
A Power of Attorney has two parties: the —–, who is the primary investor or account holder and grants the rights; and the ——, who is authorised to execute an agreed set of actions on behalf of the grantor
—–is a scheme of the Reserve Bank of India (RBI) and is mandatory for NonResident Indians(NRIs) and Persons ofIndianOrigin (PIOs) who like to purchase and sell shares
—– refers to passing on the investments on the death of the investor to another person.
—– is a facility provided to the holder of an investment to designate the person(s) who will be entitled to receive the benefits of the investments, in the event of the death of the investor.
. A request for dematerializationof securitiesmay be rejected if
A nomination made in a mutual fund folio:
In a jointly held folio the PAN and KYC process has to be complied with by:
An NRI returning to India and becoming a Resident Indian has to do which of the following with respect to holdings in demat account?
Ms. L takes a loan against her mutual fund holdings.Only a portion of her units are required as security.How will she give effect to this?
A National Pension Scheme (NPS) account is held in the sole name of the subscriber.
Opening a Basic Savings Bank Deposit Account (BSBDA) does not require a PAN card.
It is mandatory for all investors who wish to invest in mutual funds to complete KYC formalities with a KYC Registration Agency (KRA).
an investor who has undergone a KYC procedure with any of the specified intermediaries can use the same to invest with a mutual fund and vice versa.
There can be no POA for a minor’s transactions.
Only an NRI/PIO can open a PINS account.
NRIs can open a demat account with any Depository Participant in India. Permission is required from RBI to open a demat account.
Nomination can be changed or cancelled at any time. Only first holder in case of joint holders must sign to make the nomination, change it or cancel it.
A power of Attorney holder can make or change a nomination in an account or folio.
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