Attention
On August 1, 2024, provincial Segregated Fund exams will begin testing on the updated 10th Edition of the Segregated Funds and Annuities book.
Before this date, students should study using the 9th Edition textbook that is in your course.
If you plan to take this exam on or after Aug 1st, please review the new materials and redlined changes here.

Anti-Money Laundering in the Financial Industry (CE Credits)

Pricing details available after login

WFG requires all licensed (whether mutual funds, RESP Scholarship Plans or insurance) to complete an Anti-Money Laundering (AML) course every two years. Failure to complete the course (and successfully pass the quiz) within 30 days of your annual license renewal (or annual anniversary of your renewal date) may result in the withholding of commissions.

Note: Agents who purchase and complete this version will receive 10 CE credits. Agents in Alberta who purchase and complete this version will receive 8 CE credits.

Not valid for Quebec and MFDA credits.

​Anti-Money Laundering (AML) is an important topic that everyone in the financial industry must be familiar with. Money-laundering is a process whereby criminal and/or terrorist groups process money received from illegal or terrorist activities through the financial system in an effort to hide or mask the original source of the monies. Money-laundering has significant costs for the economy, the financial companies that provide legitimate products and services and for the financial professional that work in the industry.

This course provides a comprehensive overview of the money laundering process and details the methods used by money launderers, the effects of money laundering, who is vulnerable, and the measures that can and must be taken to help prevent the occurrence of money laundering.

You will learn about the role of:

  • Insiders
  • Structuring (smurfing) the funds
  • Credit and debit cards
  • Underground banking

The Financial Analysis and Transaction Reporting Center (FINTRAC), has developed guidelines for what types of activities must be reported and how they are to be reported. The guidelines covering suspicious transactions, transaction reports, and compliance are conveniently summarized within the course.

Both interesting and informative, this course presents a good introduction for those new to the financial industry and an excellent refresher for those that are experienced in the industry and require a refresher on AML.

Manitoba CE Credits: Entry of CE for the same course more than once may be permitted on an exception basis only. If an agent wishes to claim credit for a course more than once, the agent must contact Council for prior approval and provide written reasons. This review is subject to the individual course review fee of $50.

Question format: multiple choice

Questions per exam: 40 questions

Exam Length: 90 minutes per exam

Passing Grade: 60%

You have 3 attempts, thereafter, additional attempts are subject to a $20 rewrite fee per attempt

Refund Policy: Refunds will be issued within 10 days of purchase if you have not logged into the online materials. Your registration is not transferable.

Login Policy: You are responsible for maintaining the confidentiality of your username and password. Sharing your access with others is not permitted. Failure to comply may result in the immediate termination of your course.

Conflict of Interest Policy
Learners have the right to learn in an environment dedicated solely to education and free from the promotion of any instructor’s proprietary interest in products, services, instruments, devices or materials. Should you feel that this policy has not been followed, please advise our Operations Manager via email at [email protected].

System Requirements
  • PC Windows 8.1 or higher (no virtual machines permitted)
  • Mac OS:
    • Big Sur (11.7.10), Safari 16.6.1
    • Monterey (12.7.3), Safari 17.3.0
    • Ventura (13.6.4), Safari 17.3.0
    • Sonoma (14.3.1), Safari 17.3.0
Processors
  • Intel/AMD/ARM
Additional Requirements
  • Google Chrome Browser with pop-ups and JavaScript enabled
  • Safe Exam Browser (available for download through the test portal). Students must also connect a secondary camera on a smartphone (activated by a QR code).