What tool can be used to modify the anchor point of a layer?

The Anchor Point Tool is specifically designed for adjusting the anchor point of a layer in Adobe After Effects. The anchor point serves as the pivot around which transformations such as rotation, scaling, and position adjustments occur. By utilizing this tool, users can easily click and drag the anchor point to a new location within the layer, enabling more precise control over how the layer behaves during animations and when effects are applied.

While other tools have their specific functionalities, they do not provide the same direct manipulation capabilities for the anchor point. For instance, the Selection Tool is primarily used for selecting and moving layers around in the composition but does not allow for modifying the anchor point itself. The Pen Tool is intended for creating and manipulating vector paths and masks rather than adjusting anchor points. Meanwhile, the Transform Tool does not exist as a standalone tool in After Effects; transformation properties are accessed directly through layer properties rather than through a dedicated tool. Thus, the Anchor Point Tool is uniquely suited for this task, making it the correct choice.