Blythe is an insurance agent and her new client, Xavier, wants to purchase a deferred annuity within his registered retirement savings plan (RRSP). The principal amount deposited to the annuity is $75,000 and Xavier is using funds already accumulated in his RRSP. Which of the following CORRECTLY describes Blythe’s obligation under money laundering and terrorist financing legislation?
a)		Blythe must identify Xavier if the initial deposit is more than $10,000.
b)		Blythe is not required to identify Xavier if the initial deposit is not paid in cash.
c)		Blythe must identify Xavier if the annuity is a deferred annuity, not an immediate annuity.
d)		Blythe is not required to identify Xavier if the deposit is made to an RRSP.

Answer rating: 100% (QA)

b Blythe is not required to identify Xavier if the initi... View the full answer