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IBPS Clerk Banker-Customer Relationship — practice questions

Explore 73 free Banker-Customer Relationship questions in IBPS Clerk Banking Awareness. Open each question or exercise to read its content, reference answers and available explanation.

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Banker-Customer Relationship questions and exercises with answers

Showing questions 1–30 of 73.

For an ordinary deposit, the banker-customer relationship is:Read the answer and worked solution →While collecting a cheque for a customer, the bank acts as:Read the answer and worked solution →Customer due diligence means identifying the customer and the:Read the answer and worked solution →Which document is an officially valid document?Read the answer and worked solution →A customer using a deemed OVD must give a current address OVD within:Read the answer and worked solution →A name change after issue still leaves a document valid if backed by a:Read the answer and worked solution →KYC records in digital form are held by the:Read the answer and worked solution →The unique code the registry assigns a customer is the KYC:Read the answer and worked solution →Who ensures the bank's overall compliance under the PML Act?Read the answer and worked solution →The Principal Officer may also be nominated as the Designated Director:Read the answer and worked solution →The names of both officers are communicated to RBI and:Read the answer and worked solution →V-CIP identifies a customer through a live interaction and:Read the answer and worked solution →A compliant V-CIP is treated as being on par with:Read the answer and worked solution →For a company, controlling ownership interest means more than:Read the answer and worked solution →Control includes the right to appoint the majority of the:Read the answer and worked solution →Beneficial owner identification is not needed for a customer that is:Read the answer and worked solution →Total credits to a small account in a financial year may not exceed:Read the answer and worked solution →Withdrawals and transfers from a small account in a month may not exceed:Read the answer and worked solution →A small account must be opened only at a branch linked to:Read the answer and worked solution →What does a bank obtain from a small account holder at opening?Read the answer and worked solution →Risk categorisation of a customer is kept:Read the answer and worked solution →Risk categorisation of accounts is reviewed at least once every:Read the answer and worked solution →KYC of a high risk customer must be updated at least once in:Read the answer and worked solution →KYC of a low risk customer must be updated at least once in:Read the answer and worked solution →KYC of a medium risk customer must be updated at least once in:Read the answer and worked solution →The Customer Acceptance Policy must not deny facilities to the:Read the answer and worked solution →When an application is rejected the officer must record the:Read the answer and worked solution →Which transaction type must be monitored closely?Read the answer and worked solution →Alerts on inconsistent transactions are generated by:Read the answer and worked solution →A bank may collect an account payee cheque only for the:Read the answer and worked solution →

Worked practice questions

For an ordinary deposit, the banker-customer relationship is:

  1. Debtor and creditor
  2. Agent and principal
  3. Trustee and beneficiary
  4. Bailor and bailee
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Correct answer: A. Debtor and creditor

1. The question asks: For an ordinary deposit, the banker-customer relationship is. 2. Correct answer: Debtor and creditor. 3. On a deposit the bank is the debtor and the customer the creditor. _Source: BOI Quick Revision — General Banking & Financial Awareness (2020), Banker-Customer_

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While collecting a cheque for a customer, the bank acts as:

  1. Debtor and creditor
  2. Agent and principal
  3. Trustee and beneficiary
  4. Lessor and lessee
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Correct answer: B. Agent and principal

1. The question asks: While collecting a cheque for a customer, the bank acts as. 2. Correct answer: Agent and principal. 3. In cheque collection the bank acts as the customer's agent. _Source: BOI Quick Revision — General Banking & Financial Awareness (2020), Banker-Customer_

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Customer due diligence means identifying the customer and the:

  1. Beneficial owner
  2. Beneficial officer
  3. Beneficial operator
  4. Beneficial obligor
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Correct answer: A. Beneficial owner

1. The process uses reliable and independent sources. 2. It looks past the person in front of the counter. 3. It must reach the beneficial owner as well. _Source: Reserve Bank of India (Commercial Banks - Know Your Customer) Directions, 2025_

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