ACAMS
CAMS · Question #238
CAMS Question #238: Real Exam Question with Answer & Explanation
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Question
How can a `free-look provision' as part of a life insurance policy help criminals to launder money?
Options
- AA policy owner can decide how to pay the premium within a pre-defined period.
- BA policy owner is able to terminate the contract without penalties such as surrender charges.
- CA policy owner has freedom to decide who the beneficiary of the policy will be and can in this way
- DA policy owner has freedom to decide who the beneficiary of the policy will be and can in this way
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