ACAMS
CAMS · Question #887
CAMS Question #887: Real Exam Question with Answer & Explanation
The correct answer is A. Purpose and intended use B. Liquidity D. Customer anonymity or third-party transactions. The vulnerability of insurance products to money laundering is typically assessed based on purpose and intended use, liquidity (how easily funds can be accessed or moved), and customer anonymity or use of third-party transactions, as these factors can be exploited to disguise ill
Question
Which attributes are typically used to assess the vulnerability to money laundering risk of products offered by an insurer? (Choose three.)
Options
- APurpose and intended use
- BLiquidity
- CAge of the beneficiary
- DCustomer anonymity or third-party transactions
- ELength of waiting period
Explanation
The vulnerability of insurance products to money laundering is typically assessed based on purpose and intended use, liquidity (how easily funds can be accessed or moved), and customer anonymity or use of third-party transactions, as these factors can be exploited to disguise illicit
Community Discussion
No community discussion yet for this question.