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Problem 1: You meet with your client, Fernando, who purchased a life insurance policy from you last year. When Fernando asks you about assignment options for his policy, which of the following is the CORRECT response that you should provide to him?
a) Following collateral assignment, the new owner cannot revert ownership back to the original policyholder.b) Following absolute assignment, the new owner cannot designate a beneficiary.c) Following absolute assignment, the new owner can withdraw money from the policy.d) Following collateral assignment, the new owner can designate a beneficiary.
Financial Statement Analysis and Preparation
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