contestada

A bank's Customer Identification Program (CIP) applies to any insurance product that contains a cash value or investment feature. Which application will require CIP verifications?A. An application from Sammy Scott for a Surety BondB. An application from Frank Farber for commercial flood insuranceC. An application from Ann Arbor for an annuityD. An application from Carey Carter for car insurance

Respuesta :

aaregbe

Answer:

C. An application from Ann Arbor for an annuity.

Explanation:

A Customer Identification Program (CIP) is usually conducted by a financial institution to verify a client's identity because he or she can conduct any financial transaction with the bank. Generally, for any CIP verification, the transaction must include an investment feature such as a cash value. Thus, it is only option C that requires a CIP verification.