ACAMS
CAMS · Question #669
CAMS Question #669: Real Exam Question with Answer & Explanation
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Question
The product department of an insurance company proposes launching a special life insurance product with investment elements that allow clients to instruct payments to unknown third parties via partner financial institutions. The product department seeks fast-track approval from compliance to ensure quick market launch. What is the best course of action from a compliance perspective?
Options
- ADo not sign off on the product because it contains the option to make payments to unknown third
- BSign off on the product because client KYC is complete, and unknown individuals can be added
- CDo not sign off on the product because the compliance department was not involved from the
- DSign off on the product quickly to gain a competitive advantage while evaluation by compliance
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