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Which of the Following Statements About the Assignment of a Life

question 44

Multiple Choice

Which of the following statements about the assignment of a life insurance policy is (are) true?
I.Under a collateral assignment,the policyowner assigns a life insurance policy to secure a loan.
II.Under an absolute assignment,only limited ownership rights in a policy are transferred.


Definitions:

Universal Precautions

An approach to infection control where all human blood and certain bodily fluids are treated as if they are infectious for bloodborne pathogens.

Biological Chemical Materials

Substances derived from living organisms or containing compounds found in nature, often used in research, industry, and healthcare.

PASS Method

An acronym for Pull, Aim, Squeeze, and Sweep, used to remember the steps in using a fire extinguisher effectively.

Provisional Certificate

A temporary document granted to indicate a certain qualification or permission until a final or permanent certificate is issued.

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