Prevention of Money Laundering Act 2002 Multiple Choice Questions
1. When did The Prevention of Money Laundering Act 2002, come into force?
A. 01 April 2002
B. 01 March 2003
C. 01 July 2005
D. 23 April 2004
Answer: C
2. Which section of The Prevention of Money Laundering Act 2002 deals with the Vesting of property in Central Government?
A. Section 12 of The Prevention of Money Laundering Act 2002
B. Section 9 of The Prevention of Money Laundering Act 2002
C. Section 14 of The Prevention of Money Laundering Act 2002
D. Section 20 of The Prevention of Money Laundering Act 2002
Answer: B
3. Which section of The Prevention of Money Laundering Act 2002 deals with Power of survey_ ?
A. Section 16 of The Prevention of Money Laundering Act 2002
B. Section 14 of The Prevention of Money Laundering Act 2002
C. Section 13 of The Prevention of Money Laundering Act 2002
D. Section 18 of The Prevention of Money Laundering Act 2002
Answer: A
4. Section 25 of The Prevention of Money Laundering Act 2002 deals with_______?
A. Power of Chairperson to transfer cases
B. Appellate Tribunal
C..Civil court not to have jurisdiction
D. Decision to be by majority
Answer: B
5. Retention of records, is provided in section____ of The Prevention of Money Laundering Act 2002
A. Section 24 of The Prevention of Money Laundering Act 2002
B. Section 22 of The Prevention of Money Laundering Act 2002
C. Section 21 of The Prevention of Money Laundering Act 2002
D. Section 23 of The Prevention of Money Laundering Act 2002
Answer: C
6. Section 17 of The Prevention of Money Laundering Act 2002 provides _?
A.Search and seizure
B.Retention of property
C.Appeal to Appellate Tribunal
D.Appeal to High Court
Answer: A
7. Which section of The Prevention of Money Laundering Act 2002 deals with the Attachment of property involved in money laundering?
A. Section 7 of The Prevention of Money Laundering Act 2002
B. Section 4 of The Prevention of Money Laundering Act 2002
C. Section 5 of The Prevention of Money Laundering Act 2002
D. Section 9 of The Prevention of Money Laundering Act 2002
Answer: C
8. Section 12 of The Prevention of Money Laundering Act 2002 deals with_______?
A. Reporting entity to maintain records
B. Presumption in inter-connected transactions
C. Decision to be by majority
D. Procedure and manner of furnishing information by reporting entities
Answer: A
9. Which section of The Prevention of Money Laundering Act 2002 deals with the Punishment for money-laundering?
A. Section 7 of The Prevention of Money Laundering Act 2002
B. Section 9 of The Prevention of Money Laundering Act 2002
C. Section 4 of The Prevention of Money Laundering Act 2002
D. Section 5 of The Prevention of Money Laundering Act 2002
Answer: C
10. Section 10 of The Prevention of Money Laundering Act 2002 deals with_______?
A. Staff of Adjudicating Authorities
B. Offence of money-laundering.
C.Management of properties confiscated under this Chapter
D. No civil or criminal proceedings against reporting entity, its directors, and employees in certain cases
Answer: C