Question 2023 of 287 · Texas Life, Accident and Health Agent Exam
An absolute assignment of a life policy
Exactly one answer is correct.
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Correct answer to question 2023
- C: transfers all ownership rights to the assignee permanently
Explanation
An absolute assignment is a complete transfer of ownership, often used for gifts. A collateral assignment, in contrast, gives the lender only a limited interest as security for a loan.
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