THE PREVENTION OF MONEY-LAUNDERING ACT, 2002
ACT NO. 15 OF 2003
1. Section 5(4) provides that attachment shall not prevent—
a. Sale of property
b. Enjoyment of immovable property by person interested
c. Transfer of property
d. Confiscation
2. The term “person interested” under the Explanation to Section 5(4) includes—
a. Only owner
b. Only tenant
c. All persons claiming or entitled to claim any interest in the property
d. Only accused
3. Under Section 5(5), the Director must file a complaint before the Adjudicating Authority within—
a. Fifteen days
b. Thirty days
c. Sixty days
d. Ninety days
4. The complaint under Section 5(5) must state—
a. Facts of provisional attachment
b. Grounds of arrest
c. Details of scheduled offence only
d. Evidence of guilt
5. Provisional attachment under Section 5 is—
a. Final confiscation
b. Temporary in nature
c. Civil attachment
d. Punitive action
6. Section 5 primarily aims to—
a. Punish the offender
b. Determine guilt
c. Conduct trial
d. Secure proceeds of crime from being dissipated
7. Section 6 of the PMLA, 2002 deals with—
a. Adjudicating Authorities
b. Special Courts
c. Appellate Tribunal
d. Investigation agency
8. Who appoints the Adjudicating Authority under Section 6(1)?
a. Supreme Court
b. High Court
c. Appellate Tribunal
d. Central Government
9. The appointment of the Adjudicating Authority under Section 6(1) is made by—
a. Order
b. Resolution
c. Notification
d. Ordinance
10. An Adjudicating Authority under Section 6(2) shall consist of—
a. One Chairperson only
b. Two Members only
c. One Chairperson and two other Members
d. One Chairperson and four Members
11. As per the proviso to Section 6(2), Members shall have experience in—
a. Law only
b. Law and finance only
c. Law, administration, finance or accountancy
d. Judiciary only
12. How many Members of the Adjudicating Authority must have experience as specified in the proviso to Section 6(2)?
a. One
b. Two
c. Three
d. All Members
13. A person is not qualified for appointment as a Member in the field of law unless he—
a. Is an advocate for five years
b. Is qualified for appointment as District Judge
c. Is a retired High Court Judge
d. Has practiced criminal law
14. Alternatively, a person in the field of law is qualified if he—
a. Has been a Sessions Judge
b. Has been a Judicial Magistrate
c. Has been a Member of Indian Legal Service holding Grade I post
d. Has been a Public Prosecutor
15. For appointment as Member in finance, accountancy or administration, a person must—
a. Be a Chartered Accountant only
b. Be a retired IAS officer
c. Possess qualifications as may be prescribed
d. Have ten years’ experience
16. Who appoints a Member to be the Chairperson of the Adjudicating Authority?
a. Supreme Court
b. High Court
c. Central Government
d. Appellate Tribunal
17. Under Section 6(5)(a), the jurisdiction of the Adjudicating Authority may be exercised by—
a. Single Member only
b. Chairperson alone
c. Benches
d. Special Courts
18. A Bench of the Adjudicating Authority may consist of—
a. Chairperson only
b. One or two Members
c. Two Members only
d. Three Members only
19. Who constitutes the Benches of the Adjudicating Authority?
a. Central Government
b. Supreme Court
c. Chairperson of the Adjudicating Authority
d. Appellate Tribunal
20. Ordinarily, the Benches of the Adjudicating Authority shall sit at—
a. Mumbai only
b. New Delhi only
c. New Delhi and other notified places
d. Any State capital
21. Places other than New Delhi for sitting of Benches are specified by—
a. Chairperson alone
b. Central Government in consultation with Chairperson
c. Appellate Tribunal
d. Supreme Court
22. The areas of jurisdiction of each Bench are specified by—
a. Chairperson
b. Adjudicating Authority
c. Central Government by notification
d. High Court
23. Under Section 6(6), the Chairperson has power to—
a. Remove a Member
b. Appoint Members
c. Transfer a Member from one Bench to another
d. Suspend proceedings
24. If a case appears to require hearing by a two-Member Bench, it may be transferred by—
a. Any Member
b. Central Government
c. Chairperson
d. Appellate Tribunal
25. The tenure of the Chairperson or Member under Section 6(8) is—
a. Three years
b. Five years
c. Six years
d. Till superannuation
26. No Chairperson or Member shall hold office after attaining the age of—
a. Sixty years
b. Sixty-two years
c. Seventy years
d. Sixty-five years
27. Salary, allowances and service conditions of Members are—
a. Prescribed by rules
b. Fixed by the Chairperson
c. Fixed by Parliament
d. Decided by High Court
28. After appointment, service conditions of a Member—
a. May be varied anytime
b. Shall not be varied to his disadvantage
c. May be varied to his disadvantage
d. Are temporary
29. If a vacancy occurs due to reasons other than temporary absence, it shall be filled by—
a. Chairperson
b. Appellate Tribunal
c. Senior-most Member
d. Central Government
30. Proceedings before the Adjudicating Authority after filling a vacancy—
a. Must start afresh
b. May continue from the stage already reached
c. Shall abate
d. Shall be transferred to High Court
31. A Chairperson or Member may resign by giving—
a. Oral intimation
b. Notice to Chairperson
c. Written notice to Central Government
d. Application to Appellate Tribunal
32. After resignation, the Chairperson or Member shall ordinarily continue in office for—
a. One month
b. Two months
c. Three months
d. Six months
33. Removal of the Chairperson or Member can be made only by—
a. Supreme Court
b. High Court
c. Central Government after opportunity of hearing
d. Appellate Tribunal
34. When the office of Chairperson falls vacant due to death or resignation, who acts as Chairperson?
a. Any Member nominated by Central Government
b. Junior-most Member
c. Senior-most Member
d. Registrar
35. When the Chairperson is unable to discharge functions due to absence or illness, the functions are discharged by—
a. Central Government nominee
b. Senior-most Member
c. Any available Member
d. Appellate Tribunal
36. The Adjudicating Authority under Section 6(15)—
a. Is bound by CPC, 1908
b. Is bound by CrPC
c. Is not bound by CPC but guided by principles of natural justice
d. Is bound by Evidence Act
37. Subject to the Act, the Adjudicating Authority has power to—
a. Frame criminal procedure
b. Regulate its own procedure
c. Punish for contempt
d. Review High Court orders
38. Section 7 of the Prevention of Money-Laundering Act, 2002 deals with—
a. Appointment of Members
b. Powers of Chairperson
c. Staff of Adjudicating Authorities
d. Procedure of adjudication
39. Under Section 7(1), who shall provide officers and employees to the Adjudicating Authority?
a. Chairperson of the Authority
b. Adjudicating Authority itself
c. Central Government
d. Appellate Tribunal
40. The officers and employees are provided to the Adjudicating Authority—
a. As prescribed by rules
b. As recommended by Chairperson
c. As the Central Government may think fit
d. As directed by Supreme Court
41. Section 7(1) uses which expression regarding provision of staff?
a. Shall appoint
b. May appoint
c. Shall provide
d. May recommend
42. The officers and employees of the Adjudicating Authority discharge their functions under—
a. Direct control of Central Government
b. Superintendence of Appellate Tribunal
c. General superintendence of the Chairperson
d. Supervision of Special Court
43. Section 7(2) places officers and employees under the superintendence of—
a. Central Government
b. Chairperson of the Adjudicating Authority
c. Senior-most Member
d. Registrar
44. The superintendence exercised by the Chairperson under Section 7(2) is—
a. Administrative only
b. Judicial only
c. General superintendence
d. Appellate control
45. Salaries and allowances of officers and employees of the Adjudicating Authority shall be—
a. Such as may be prescribed
b. Fixed by Chairperson
c. Fixed by Central Government order
d. Same as Members
46. Apart from salaries and allowances, Section 7(3) also covers—
a. Pension only
b. Leave only
c. Other conditions of service
d. Retirement age
47. Who prescribes the salaries, allowances and service conditions under Section 7(3)?
a. Parliament
b. Central Government through rules
c. Adjudicating Authority
d. Appellate Tribunal
48. Section 7 primarily deals with—
a. Judicial powers
b. Composition of Authority
c. Administrative support staff
d. Appeals
49. Officers and employees provided under Section 7 work—
a. Independently
b. Under Members collectively
c. Under general superintendence of Chairperson
d. Under direct control of courts
50. Section 7 does NOT deal with—
a. Appointment of staff
b. Control over staff
c. Salary and service conditions
d. Removal of Chairperson
51. Which authority ensures administrative functioning of the Adjudicating Authority under Section 7?
a. Special Court
b. Appellate Tribunal
c. Central Government and Chairperson
d. Enforcement Directorate
52. Section 7 is best described as a provision relating to—
a. Administrative framework
b. Substantive offence
c. Punishment
d. Trial procedure
53. Section 8 of the Prevention of Money-Laundering Act, 2002 relates to—
a. Investigation
b. Attachment
c. Adjudication
d. Appeals
54. Proceedings under Section 8(1) commence on receipt of—
a. Charge sheet
b. Police report
c. Order of Special Court
d. Complaint under Section 5(5) or applications under Section 17(4) or Section 18(10)
55. The Adjudicating Authority may issue notice under Section 8(1) if it has reason to believe that—
a. Any offence has been registered
b. Any person has committed an offence under Section 3 or is in possession of proceeds of crime
c. Property is under dispute
d. Accused has absconded
56. Minimum period of notice to be served under Section 8(1) is—
a. Fifteen days
b. Twenty days
c. Thirty days
d. Sixty days
57. Notice under Section 8(1) calls upon the person to—
a. Admit guilt
b. Deposit penalty
c. Indicate sources of income, earnings or assets and show cause
d. Appear before Special Court
58. The notice under Section 8(1) relates to property which is—
a. Seized under CrPC
b. Attached under Section 5 or seized/frozen under Sections 17 or 18
c. Subject matter of civil suit
d. In possession of police
59. If property is held by a person on behalf of another, the notice shall also be served on—
a. Director
b. Chairperson
c. Such other person
d. Investigating officer
60. Where property is held jointly by more than one person, notice shall be served—
a. Only on main holder
b. Only on accused
c. On all persons holding such property
d. At discretion of Authority
61. Before passing order under Section 8(2), the Adjudicating Authority shall consider—
a. Reply to notice, hearing and relevant material
b. Police opinion only
c. Statement under CrPC
d. Confession only
62. Hearing under Section 8(2) is given to—
a. Only aggrieved person
b. Only Director
c. Aggrieved person and Director or authorised officer
d. Public Prosecutor only
63. Under Section 8(2), the Adjudicating Authority records a finding whether—
a. Accused is guilty
b. Property is benami
c. Offence is compoundable
d. Property is involved in money-laundering
64. If a third person claims the property, such person shall—
a. Be ignored
b. File civil suit
c. Be given opportunity of being heard
d. Approach High Court
65. On deciding that property is involved in money-laundering, the Adjudicating Authority shall—
a. Release property
b. Impose fine
c. Refer matter to police
d. Confirm attachment or retention/freezing by written order
66. After confirmation, attachment or freezing shall continue during investigation for a period not exceeding—
a. 365 days
b. 180 days
c. 300 days
d. Till trial ends
67. The period during which investigation is stayed by a court shall—
a. Be included in 365 days
b. Be excluded from computation
c. Extend limitation automatically
d. Cancel attachment
68. Attachment becomes final after—
a. Filing of complaint
b. Conviction of accused
c. Order of confiscation by Special Court
d. Framing of charge
69. After confirmation of attachment, who shall take possession of the property?
a. Chairperson
b. Director or authorised officer
c. Special Court
d. District Magistrate
70. If taking possession of frozen property is not practicable—
a. Attachment lapses
b. Property is released
c. Fresh notice is issued
d. Order of confiscation has same effect as possession
71. When Special Court finds that money-laundering offence has been committed, it shall order—
a. Return of property
b. Auction of property
c. Confiscation to Central Government
d. Compounding of offence
72. If Special Court finds that no offence of money-laundering has taken place, it shall—
a. Continue attachment
b. Confiscate property
c. Release property to entitled person
d. Refer matter back
73. Section 8(7) applies when trial—
a. Ends in conviction
b. Ends in acquittal
c. Cannot be conducted or concluded
d. Is stayed permanently
74. Application under Section 8(7) may be moved by—
a. Public Prosecutor only
b. Director or claimant of property
c. Police officer
d. Chairperson
75. After confiscation, the Special Court may direct restoration of property to—
a. Accused
b. Informant
c. Claimant with legitimate interest
d. State Government
76. Restoration under Section 8(8) requires that the claimant—
a. Is relative of accused
b. Acted in good faith and is not involved in offence
c. Filed FIR
d. Proved ownership only
77. The Special Court may consider restoration claim—
a. Only after trial
b. Only after appeal
c. Even during trial
d. Only after conviction
78. Section 9 of the Prevention of Money-Laundering Act, 2002 deals with—
a. Attachment of property
b. Vesting of property in Central Government
c. Restoration of property
d. Appeals
79. Property vests in the Central Government under Section 9 when—
a. Provisional attachment is made
b. Complaint is filed
c. Order of confiscation is made
d. Charge sheet is filed
80. Confiscation order referred to in Section 9 may be passed under—
a. Section 5 only
b. Section 7 only
c. Section 8(5) or 8(7) or Section 58B or Section 60(2A)
d. Section 17 only
81. On confiscation, all rights and title in the property shall vest—
a. Temporarily in Government
b. In the Special Court
c. Absolutely in the Central Government
d. In the State Government
82. Vesting of property under Section 9 is—
a. Subject to encumbrances
b. Free from all encumbrances
c. Subject to lease rights
d. Subject to civil court orders
83. The expression “free from all encumbrances” means—
a. Property remains mortgaged
b. Existing charges continue
c. No encumbrance survives
d. Only government dues survive
84. The first proviso to Section 9 applies when—
a. Property is attached
b. Property is provisionally seized
c. Encumbrance or lease-hold interest is created to defeat the Act
d. Property is restored
85. Before declaring an encumbrance or lease-hold interest void, the authority must—
a. Seek police opinion
b. Take approval of Central Government
c. Give opportunity of being heard
d. Issue public notice
86. Opportunity of hearing under the proviso to Section 9 is given to—
a. Accused only
b. Director only
c. Any other person interested in the property
d. Public Prosecutor only
87. Property referred to in the proviso may be—
a. Only attached under Chapter III
b. Only seized under CrPC
c. Attached under this Chapter or seized/frozen under Chapter V
d. Only frozen under FEMA
88. If an encumbrance is found to be created to defeat the provisions of the Act, it may be declared—
a. Irregular
b. Void
c. Voidable
d. Suspended
89. After declaring the encumbrance void, the property shall vest in the Central Government—
a. Subject to lease rights
b. With compensation
c. Free from such encumbrance or lease-hold interest
d. Temporarily
90. The power to declare encumbrance void under Section 9 is vested in—
a. Special Court only
b. Adjudicating Authority only
c. Either Special Court or Adjudicating Authority
d. High Court only
91. The second proviso to Section 9 clarifies that—
a. Encumbrances are automatically cancelled
b. Civil liability is extinguished
c. Criminal proceedings abate
d. Liability of any person is not discharged
92. Under the second proviso, liability in respect of encumbrance may be enforced by—
a. Criminal complaint
b. Writ petition
c. Suit for damages
d. Arbitration
93. Section 9 operates only after—
a. Registration of ECIR
b. Provisional attachment
c. Final confiscation order
d. Filing of appeal
94. Vesting under Section 9 is—
a. Conditional
b. Temporary
c. Absolute
d. Subject to appeal
95. Which of the following statements is correct?
a. Property vests in State Government
b. Property vests absolutely in Central Government
c. Property vests with encumbrances intact
d. Property is returned to accused
96. Lease-hold interest created to defeat the Act can be—
a. Declared void
b. Regularised
c. Continued till expiry
d. Converted into freehold
97. Section 9 ensures that confiscated property—
a. Vests in Central Government without encumbrances
b. Remains under court custody
c. Is sold immediately
d. Is auctioned compulsorily
98. Encumbrance created bona fide—
a. Is automatically void
b. Can be declared void without hearing
c. Requires opinion that it was created to defeat the Act
d. Is ignored by law
99. The phrase “shall vest absolutely” indicates—
a. Discretionary vesting
b. Mandatory vesting
c. Temporary vesting
d. Conditional vesting
100. Section 9 applies to property of—
a. Director
b. Any person
c. Public servant only
d. Banking companies
101. Which authority decides whether an encumbrance was created to defeat the Act?
a. Investigating Officer
b. Central Government
c. Police Officer
d. Special Court or Adjudicating Authority
102. The objective of Section 9 is primarily to—
a. Punish accused
b. Protect third-party interests
c. Ensure clean vesting of confiscated property in Government
d. Regulate investigation
103. Section 10 of the Prevention of Money-Laundering Act, 2002 deals with—
a. Management of confiscated property
b. Attachment of property
c. Adjudication
d. Appeal against confiscation
104. Under Section 10(1), who appoints the Administrator for managing confiscated property?
a. Adjudicating Authority
b. Special Court
c. Central Government
d. Enforcement Directorate
105. The appointment of the Administrator under Section 10(1) is made by—
a. Notification in Parliament
b. Order published in the Official Gazette
c. Circular of ED
d. Rules framed under the Act
106. The officers appointed as Administrator must not be below the rank of—
a. Deputy Secretary
b. Director
c. Additional Secretary
d. Joint Secretary to the Government of India
107. The Central Government may appoint—
a. Only one Administrator
b. Only two Administrators
c. As many officers as it thinks fit
d. One Administrator per State
108. The Administrator is appointed to perform the functions of—
a. Administrator
b. Investigating Officer
c. Adjudicating Authority
d. Receiver
109. Under Section 10(2), the Administrator shall receive and manage property in relation to which—
a. Provisional attachment is made
b. Confiscation order is made
c. ECIR is registered
d. Charge sheet is filed
110. Orders referred to in Section 10(2) include orders passed under—
a. Section 5 only
b. Section 7 only
c. Section 8(5), 8(6), 8(7), Section 58B or Section 60(2A)
d. Section 17 only
111. The manner in which the Administrator shall manage the property is—
a. As per judicial directions
b. As may be prescribed
c. As per Code of Civil Procedure
d. At his discretion
112. Management of confiscated property by the Administrator is subject to—
a. Judicial approval
b. Conditions as may be prescribed
c. Parliamentary control
d. State Government directions
113. Section 10(3) empowers the Administrator to—
a. Dispose of property
b. Attach property
c. Confiscate property
d. Restore property
114. Disposal of property under Section 10(3) is done—
a. On recommendation of ED
b. As per decision of Adjudicating Authority
c. As per court decree
d. As the Central Government may direct
115. The property disposed of under Section 10(3) must be—
a. Attached property
b. Seized property
c. Property vested in Central Government under Section 9
d. Frozen property
116. Section 10 applies to property—
a. After vesting in Central Government
b. Before adjudication
c. After provisional attachment
d. During investigation
117. The role of the Administrator under Section 10 is primarily—
a. Judicial
b. Investigative
c. Administrative and managerial
d. Appellate
118. Which of the following statements is correct?
a. Administrator manages confiscated property
b. Administrator is appointed by Special Court
c. Administrator can be below Joint Secretary rank
d. Administrator confirms attachment
119. Section 10 ensures—
a. Fair trial
b. Proper investigation
c. Effective management of confiscated assets
d. Speedy appeal
120. The words “shall receive and manage” in Section 10(2) indicate—
a. Discretionary power
b. Mandatory duty
c. Temporary arrangement
d. Advisory role
121. Administrator under PMLA is appointed for property confiscated under—
a. Chapter III
b. Chapter IV
c. Chapter VI
d. This Chapter
122. Section 10 supplements which section directly?
a. Section 5
b. Section 9
c. Section 8
d. Section 11
123. Disposal of confiscated property under Section 10(3) is—
a. As directed by Central Government
b. Automatic
c. Judicially supervised
d. At Administrator’s discretion alone
124. The Administrator acts—
a. Independently of Government
b. Under directions of Central Government
c. Under High Court supervision
d. Under Adjudicating Authority only
125. Section 10 does NOT deal with—
a. Appointment of Administrator
b. Management of confiscated property
c. Disposal of confiscated property
d. Appeal against confiscation
126. The objective of Section 10 is to—
a. Punish the offender
b. Manage and dispose confiscated assets
c. Secure evidence
d. Decide guilt
127. Section 10 comes into operation—
a. Before attachment
b. During investigation
c. After confiscation and vesting
d. At trial stage
128. Section 11 of the Prevention of Money-Laundering Act, 2002 deals with—
a. Adjudication of attachment
b. Powers of Special Court
c. Power regarding summons, production of documents and evidence
d. Management of confiscated property
129. Under Section 11(1), the Adjudicating Authority has the same powers as—
a. Criminal Court under CrPC
b. High Court under Constitution
c. Sessions Court
d. Civil Court under the Code of Civil Procedure, 1908
130. The civil court powers under Section 11(1) are exercisable—
a. While trying a suit
b. During trial only
c. During appeal
d. Only at investigation stage
131. Discovery and inspection fall under—
a. Section 10
b. Section 11(1)(a)
c. Section 11(2)
d. Section 12
132. Enforcing attendance of any person is covered under—
a. Section 11(1)(b)
b. Section 11(1)(c)
c. Section 11(2)
d. Section 11(3)
133. Section 11 empowers the Adjudicating Authority to enforce attendance of—
a. Accused only
b. Public servants only
c. Any person including officers of banking companies
d. Police officers only
134. Officers whose attendance can be enforced include officers of—
a. Courts only
b. Banking companies, financial institutions or companies
c. NGOs only
d. Foreign embassies
135. Examination of a person under Section 11(1)(b) may be done—
a. Without oath
b. Only in writing
c. On oath
d. Through police
136. Compelling the production of records is provided under—
a. Section 11(1)(a)
b. Section 11(1)(c)
c. Section 11(2)
d. Section 11(3)
137. Receiving evidence on affidavits is authorised under—
a. Section 11(1)(d)
b. Section 11(1)(e)
c. Section 11(2)
d. Section 12
138. Issuing commissions for examination of witnesses and documents falls under—
a. Section 11(1)(e)
b. Section 11(1)(f)
c. Section 11(2)
d. Section 10
139. Clause (f) of Section 11(1) relates to—
a. Criminal trial
b. Punishment
c. Confiscation
d. Any other matter which may be prescribed
140. Persons summoned under Section 11(2) are bound to—
a. Appear only through advocate
b. Attend in person or through authorised agents
c. Appear only in writing
d. Appear only if accused
141. Attendance of summoned persons shall be—
a. As directed by the Adjudicating Authority
b. Optional
c. Discretionary
d. As per CrPC only
142. A person summoned under Section 11(2) is bound to—
a. Remain silent
b. State the truth
c. Give affidavit only
d. Depose only if accused
143. Section 11(2) requires summoned persons to produce—
a. Such documents as may be required
b. Only original documents
c. Only certified copies
d. Only bank records
144. Proceedings under Section 11 are deemed to be—
a. Administrative proceedings
b. Quasi-judicial proceedings
c. Judicial proceedings
d. Investigative proceedings
145. Judicial proceedings under Section 11 are deemed so for the purposes of—
a. Section 24 IPC
b. Section 193 and Section 228 IPC
c. Section 197 IPC
d. Section 300 CrPC
146. Section 193 IPC relates to—
a. False evidence
b. Disobedience of order
c. Contempt of court
d. Criminal conspiracy
147. Section 228 IPC deals with—
a. Forgery
b. Insult or interruption to public servant sitting in judicial proceeding
c. Criminal intimidation
d. Cheating
148. The effect of Section 11(3) is that false evidence before Adjudicating Authority—
a. Has no consequence
b. Is civil liability only
c. Is ignored
d. Attracts IPC provisions
149. Powers under Section 11 are exercised by—
a. Special Court
b. Enforcement Directorate
c. Adjudicating Authority
d. Appellate Tribunal
150. Section 11 strengthens proceedings by—
a. Limiting evidence
b. Granting civil-court-like powers
c. Removing oath requirement
d. Restricting summons
151. Which of the following is NOT expressly mentioned in Section 11(1)?
a. Arrest of accused
b. Discovery and inspection
c. Examination on oath
d. Compelling production of records
152. Section 11 ensures that proceedings before the Adjudicating Authority are—
a. Informal
b. Non-binding
c. Legally enforceable
d. Advisory
153. Section 11A of the Prevention of Money-Laundering Act, 2002 deals with—
a. Summons and evidence
b. Attachment of property
c. Adjudication
d. Verification of identity by reporting entity
154. Under Section 11A(1), every reporting entity shall verify the identity of—
a. Only its clients
b. Only beneficial owners
c. Only account holders
d. Both clients and beneficial owners
155. Aadhaar authentication under Section 11A(1)(a) is applicable where the reporting entity is—
a. A financial institution
b. A banking company
c. A non-banking company
d. Any reporting entity
156. Offline verification under Aadhaar is provided under—
a. Section 11A(1)(a)
b. Section 11A(1)(b)
c. Section 11A(2)
d. Section 11A(3)
157. Verification of identity may be done using passport issued under—
a. Citizenship Act, 1955
b. Passport Rules, 1980
c. Section 4 of the Passports Act, 1967
d. Foreigners Act, 1946
158. Which of the following is an accepted mode of identification under Section 11A(1)?
a. Driving licence only
b. PAN card only
c. Any officially valid document notified by Central Government
d. Voter ID only
159. The power to notify additional modes of identification under Section 11A(1)(d) vests in—
a. RBI
b. UIDAI
c. Central Government
d. Adjudicating Authority
160. The first proviso to Section 11A(1) empowers the Central Government to permit Aadhaar authentication by—
a. Reporting entities other than banking companies
b. Any reporting entity
c. Only banking companies
d. Only financial institutions
161. Such permission under the first proviso can be granted only if the reporting entity—
a. Is government owned
b. Follows RBI guidelines
c. Complies with standards of privacy and security under the Aadhaar Act
d. Has court approval
162. No notification under the first proviso shall be issued without consultation with—
a. Supreme Court
b. Enforcement Directorate
c. UIDAI and appropriate regulator
d. Parliament
163. UIDAI referred to in Section 11A is established under—
a. Section 2 of Aadhaar Act
b. Section 11 of Aadhaar Act
c. Section 4 of Aadhaar Act
d. Section 15 of Aadhaar Act
164. If a reporting entity performs Aadhaar authentication, it shall also make available—
a. Other modes under clauses (b), (c) and (d)
b. Only offline Aadhaar verification
c. Only passport verification
d. Only PAN verification
165. Section 11A(2) ensures that Aadhaar authentication—
a. Is compulsory
b. Is exclusive
c. Overrides other laws
d. Is not the only mode available
166. The choice of mode of identification under Section 11A is—
a. Mandatory for Aadhaar
b. At the discretion of reporting entity
c. Voluntary for the client or beneficial owner
d. Determined by Central Government
167. No client shall be denied services for—
a. Not having an Aadhaar number
b. Not submitting passport
c. Not submitting PAN
d. Not submitting address proof
168. Section 11A(3) embodies the principle of—
a. Mandatory identification
b. Voluntary Aadhaar usage
c. Compulsory biometric capture
d. Exclusive Aadhaar regime
169. Under Section 11A(4), when Aadhaar authentication or offline verification is used, which information shall NOT be stored?
a. Name and address
b. Passport details
c. PAN details
d. Core biometric information and Aadhaar number
170. The prohibition on storing Aadhaar number applies when verification is done under—
a. Clause (c) only
b. Clause (d) only
c. Clause (a) or clause (b)
d. All clauses
171. Section 11A(5) empowers the Central Government to—
a. Restrict Aadhaar usage
b. Notify additional safeguards
c. Prohibit identity verification
d. Remove reporting entities
172. Additional safeguards under Section 11A(5) relate to—
a. Punishment
b. Attachment
c. Verification of identity
d. Adjudication
173. The Explanation to Section 11A defines “Aadhaar number” with reference to—
a. PMLA
b. CrPC
c. RBI Act
d. Aadhaar Act, 2016
174. “Core biometric information” has the meaning assigned under—
a. Section 2(j) of Aadhaar Act
b. Section 11 of Aadhaar Act
c. Section 4 of PMLA
d. Section 12 of PMLA
175. Section 11A balances—
a. Investigation and prosecution
b. Privacy and identity verification
c. Punishment and confiscation
d. Trial and appeal
176. Which of the following statements is correct?
a. Aadhaar is compulsory for all clients
b. Aadhaar number can be stored
c. Services cannot be denied for lack of Aadhaar
d. Only banking companies are reporting entities
177. The primary objective of Section 11A is to—
a. Punish money laundering
b. Confiscate property
c. Ensure lawful and privacy-compliant identity verification
d. Speed up trial
178. Section 12 of the Prevention of Money-Laundering Act, 2002 relates to—
a. Verification of identity
b. Maintenance of records by reporting entity
c. Adjudication
d. Summons and evidence
179. Under Section 12(1), which entities are required to maintain records?
a. Every reporting entity
b. Only banking companies
c. Only financial institutions
d. Only non-banking companies
180. Section 12(1)(a) requires reporting entities to maintain—
a. Record of suspicious transactions only
b. Record of foreign transactions only
c. Record of high-value transactions only
d. Record of all transactions
181. The record of transactions must be maintained in such a manner as to—
a. Enable audit only
b. Enable reconstruction of individual transactions
c. Enable prosecution
d. Enable attachment of property
182. Information relating to which transactions must be furnished to the Director?
a. Executed transactions only
b. Attempted transactions only
c. Both attempted and executed transactions
d. Suspicious transactions only
183. Information relating to transactions shall be furnished to—
a. Adjudicating Authority
b. Director
c. Appellate Tribunal
d. Special Court
184. Information under Section 12(1)(b) must be furnished—
a. Immediately
b. Within such time as may be prescribed
c. Annually
d. At the discretion of reporting entity
185. The nature and value of transactions to be reported shall be—
a. As may be prescribed
b. Fixed in the Act
c. Decided by courts
d. Decided by reporting entity
186. Section 12(1)(e) requires maintenance of records of—
a. Only identity documents
b. Only account files
c. Only correspondence
d. Identity documents, account files and business correspondence
187. Records under Section 12(1)(e) relate to—
a. Clients and beneficial owners
b. Employees
c. Directors
d. Investigating officers
188. Section 12(2) provides that information maintained or furnished shall be—
a. Public information
b. Confidential
c. Disclosed to all authorities
d. Filed in court
189. Confidentiality under Section 12(2) is subject to—
a. Any law for the time being in force
b. RBI directions only
c. Orders of Director only
d. Consent of client only
190. Records referred to in Section 12(1)(a) must be maintained for—
a. Three years
b. Five years from date of transaction
c. Five years from account closure
d. Ten years
191. The five-year period under Section 12(3) is calculated from—
a. Date of attachment
b. Date of filing complaint
c. Date of transaction
d. Date of audit
192. Records under Section 12(1)(e) shall be maintained for five years—
a. From date of transaction
b. From date of attachment
c. From date of verification
d. After business relationship ends or account closes
193. The relevant date under Section 12(4) is—
a. Earlier of two events
b. Later of two events
c. Date of attachment
d. Date of reporting
194. The two events referred to in Section 12(4) are—
a. End of business relationship or account closure
b. Attachment and confiscation
c. Transaction and reporting
d. Verification and audit
195. Power to exempt reporting entities under Section 12(5) vests in—
a. Central Government
b. Director
c. Adjudicating Authority
d. RBI
196. Exemption under Section 12(5) may be granted—
a. By circular
b. By notification
c. By executive order
d. By court order
197. Exemption under Section 12(5) may apply to—
a. One individual only
b. Any reporting entity or class of reporting entities
c. Accused persons
d. Only banking companies
198. Section 12 applies to records relating to—
a. Investigation only
b. Trial only
c. Appeals
d. Transactions and client identity
199. Which of the following is NOT a requirement under Section 12(1)?
a. Maintaining transaction records
b. Furnishing information to Director
c. Maintaining identity documents
d. Verifying Aadhaar biometrics
200. Section 12 primarily imposes obligations on—
a. Courts
b. Reporting entities
c. Enforcement Directorate
d. Police authorities
201. The confidentiality obligation under Section 12(2) applies to—
a. Only identity records
b. Only transaction records
c. Only suspicious transaction reports
d. All information maintained, furnished or verified
202. The objective of Section 12 is to—
a. Punish reporting entities
b. Ensure transparency and audit
c. Create an effective reporting and record-keeping mechanism
d. Speed up adjudication
203. Section 12A of the Prevention of Money-Laundering Act, 2002 deals with—
a. Access to information
b. Verification of identity
c. Maintenance of records
d. Search and seizure
204. Under Section 12A(1), who is empowered to call for records and information?
a. Director
b. Adjudicating Authority
c. Appellate Tribunal
d. Special Court
205. The Director may call for records from—
a. Any person
b. Any accused
c. Any reporting entity
d. Any investigating officer
206. Records referred to in Section 12A(1) include records under—
a. Section 10 only
b. Section 11 only
c. Section 11A
d. Section 13 only
207. Apart from Section 11A, the Director may call for records under—
a. Section 12(1)
b. Section 12(2)
c. Section 12(3)
d. Section 12(5)
208. Section 12A(1) also refers to records maintained under—
a. Section 12A
b. Section 12AA(1)
c. Section 13
d. Section 14
209. The Director may call for which of the following in addition to statutory records?
a. Only transaction records
b. Any additional information considered necessary
c. Only identity records
d. Only confidential information
210. The additional information under Section 12A(1) must be necessary for—
a. Audit purposes
b. Purposes of this Act
c. Court proceedings
d. Banking regulation
211. Under Section 12A(2), who is required to furnish information to the Director?
a. Central Government
b. Enforcement Directorate
c. Reporting entity
d. Reserve Bank of India
212. Information under Section 12A(2) shall be furnished—
a. Immediately
b. Within a fixed statutory period
c. Within such time as the Director may specify
d. Annually
213. The manner of furnishing information under Section 12A(2) shall be—
a. As prescribed by rules
b. As specified by the Director
c. As directed by court
d. As decided by reporting entity
214. Section 12A(2) makes furnishing of information—
a. Mandatory
b. Optional
c. Voluntary
d. Conditional
215. Section 12A(3) relates to—
a. Penalty
b. Confidentiality of information
c. Time limitation
d. Appeal
216. Information sought by the Director under Section 12A(1) shall be—
a. Public information
b. Disclosed to courts only
c. Kept confidential
d. Published in reports
217. Confidentiality under Section 12A(3) is subject to—
a. RBI directions
b. Consent of reporting entity
c. Any law for the time being in force
d. Orders of Director only
218. Which of the following best describes the power under Section 12A(1)?
a. Power to punish
b. Power to seek access to records and information
c. Power to adjudicate
d. Power to confiscate property
219. Section 12A strengthens which mechanism under the PMLA?
a. Adjudication mechanism
b. Reporting and compliance mechanism
c. Appellate mechanism
d. Trial mechanism