4. Casey, an agent for a large multi-line insurance company, wants to direct his AML compliance focus on those products that present the greatest risk. This focus would include all of the following products EXCEPT:
a. personal liability insurance
b. whole life insurance
c. deferred annuities
d. universal life insurance
24. When watching for suspicious activity associated with covered product transactions, an insurance producer would correctly consider all of the following to be red flags EXCEPT:
a. The customer does not know the beneficiary's date of birth.
b. The customer shows no interest in the investment performance of an insurance product but much concern about its withdrawals and surrender provisions.
c. The applicant exhibits a lack of concern for policy fees and charges.
d. The applicant is rated and shows casual disregard for the higher premiums of a rated policy.
14. Michael, an insurance producer, knows that his company has an AML policy in effect, but the $10,000 in money orders his customer is using to fund the purchase of a limited payment whole life insurance policy would put him in range of his annual production goal. He overlooks the source of funds and submits the application to his company. From an AML perspective, what has Michael done?
a. complied with his company's AML policy
b. committed the crime of willful blindness
c. provided outstanding customer service
d. committed the crime of perjury