Name: ACAMS.CAMS.v2018-01-22.q137 Question 8
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Certified Anti-Money Laundering Specialists (the 6th edition)
ACAMS.CAMS.v2018-01-22.q137
Question 8

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Question 8/137

CORRECT TEXT
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 ptfiisiui i Ll idL pr uviJcfb lelir emei it bei lefils Lu employees.
4.Trusts where the settlor, trustee and beneficiaries are identified and the shares are in bearer form.

A. 2, 3, and 4 only

B. 1, 3, and 4 only

C. 1, 2, and 3 only

D. 1, 2, and 4 only

Correct Answer: D

Recent Comments (The most recent comments are at the top.)

student - Jan 16, 2022

unable to decipher option c

Hassan - Dec 27, 2021

I agree with Jay's comment

jay - May 02, 2019

Interpretative note of FATF 40 rec 10 par 15. states that "customer that have nominee shareholders or shares in bearer form" are of high risk hence D should not be included as the answer.

Also letter C, i assume is " A pension, superannuation or similar scheme that provides retirement benefits to employees"
This is low risk hence can be included as the answer.

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