According to the Financial Action Task Force 40 Recommendations, simplified customer due diligence or reduced measures could be acceptable for which of the following types of products or…

According to the Financial Action Task Force 40 Recommendations, simplified customer due diligence or reduced measures could be acceptable for which of the following types of products or transactions? 1. Life insurance policies where the annual premium is no more than USD/EUR 1,000 or a single premium of no more than USD/EUR 2,500. 2. Insurance policies for pension schemes if there is no surrender clause and the policy cannot be used as collateral. 3. A pension that provides retirement benefits to employees. 4. Trusts where the settlor, trustee and beneficiaries are identified and the shares are in bearer form.