The product department of an insurance company proposes launching aspecial life insurance productwith investment elements...

ACAMS CAMS Question Answer

The product department of an insurance company proposes launching aspecial life insurance productwith investment elements that allow clients toinstruct payments to unknown third partiesvia partner financial institutions. The product department seeksfast-track approvalfrom compliance to ensure quick market launch.

What is the best course of action from a compliance perspective?

Do not sign off on the product because it contains the option to make payments to unknown third parties, which carries a high money laundering risk.

Sign off on the product because client KYC is complete, and unknown individuals can be added or removed throughout the duration of the contract.

Do not sign off on the product because the compliance department was not involved from the beginning of the product development process, which is a severe governance violation.

Sign off on the product quickly to gain a competitive advantage while evaluation by compliance can be completed later.

ACAMS CAMS View All Questions

ACAMS CAMS Summary

Vendor: ACAMS
Product: CAMS
Update on: Nov 2, 2025
Questions: 313

Price: $52.5 ~~$149.99~~

Privacy anddata protection restrictionsplaced uponfinancial institutions (FIs) in the EUrequire that FIs must: (Select Two.

What is an indicator of suspicious activity?

Halloween Special Limited Time 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: xmasmnth

The product department of an insurance company proposes launching aspecial life insurance productwith investment elements...

The Answer Is:

Explanation:

ACAMS CAMS Summary

Payments We Accept

Contact Us