Insurance CE >> Virginia >> Life / Health

AML Practices for the Insurance Producer: Recognizing Red Flags

Course Details

hours
2.0
price
$14.95
4.77
4.77 (5227 Ratings)
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Additional Credit Available:

Add CFP CE
Add American College CE

Delivery Method: 

Self-Study

PDF Download: 

Not Available

Provider of Record: 

WebCE

Provider Number: 

124999

Study Level: 

Intermediate

Prerequisites: 

None

Access Period:

12 months

Exam Requirements

Proctor Required: 

No

Passing Grade: 

70%

Questions: 

25

Retakes: 

Unlimited

Please note: Adding Additional Credit may change exam requirements.

Overview

Insurance producers are the first and best defense against the use of insurance products in money-laundering schemes. This course is intended to help the insurance producer identify AML (anti-money laundering)"red flags"- those situations and circumstances that may be a sign of insurance products being used for money-laundering purposes.

The course includes an overview of federal AML law and rules, focuses on the role of the producer in ensuring the success of AML programs, and covers red flag activities that may occur both at the application stage, and throughout the life of a policy or annuity product. The course guides the producer through the appropriate steps to take when red flags are detected and presents "best practices" applicable to the producer's business.

Learning Objectives

Upon conclusion of this course, students will be able to:

  • demonstrate an understanding of money laundering, including the three phases of the money laundering process
  • offer examples of how financial products can be used in a money laundering process and identify the specific types of products that are most likely to be used
  • explain the producer's responsibilities with respect to the company's AML policy, especially how to report suspicious activities
  • recognize the "red flags" that could indicate an attempt is being made to launder money for illicit purposes
  • explain what steps a producer should and should not take if red flags are detected or money laundering is suspected

Designed For

L/H insurance producers and financial planners
Exam Requirements: Self-Study exams are closed-book and do not require a monitor.
Approval Entity
ClearCert assists leading insurance carriers with their responsibility to certify producer compliance with mandatory AML, Annuity, LTCI, and Flood training requirements. WebCE has participated in the ClearCert network since the company was founded in 2008 to ensure producers receive full credit from their carriers for their course completions. WebCE will automatically report completion of this course to ClearCert.


Recent Customer Course Comments

Comments are from enrolled students who recently completed the current version of this course.


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