Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Q 34 For the past 20 years, Ceraiders has turned to the licensed insurance agent Andrea for as her life insurance needs and has purchased
Q 34 For the past 20 years, Ceraiders has turned to the licensed insurance agent Andrea for as her life insurance needs and has purchased various products from her, Most maturity, Ceraiders and her husband Ronald purchased (through Andrea) a $150,000 term first-to-die life insurance policy from a reputable Canadian insurer. Ronald passed away recently and Andrea provided Ceraiders with the proper forms to claim the death benefits, which the insurer promptly paid out. Having little use for these funds, Ceraiders now decided to deposit them in a non-registered segregated fund. Putting her grandchildren as beneficiaries. Before processing Ceraider's segregated fund application, what must Andrea do to comply with the process of crime (money laundering) and terrorist Financial Act? BTAS A) Report the transaction to FINTRAC for a thorough investigation. B) Ask Ceraiders for an identification document with a unique identification number. C) Verify whether Ceraiders or someone close to her is a politically exposed person. D) Andrea has no particular obligations, because he has done several transactions for Ceraiders in the past and knows for certain that the source at the funds is legitimate
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started