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.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: A
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Indicate whether the statement is true or false
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Indicate whether the statement is true or false.