n NISM Certifications
NSM General NISM
Medium

Which situation is an exception to the cancellation of a nomination in an assignment?

Practice question from IC 38 Mock Test 5 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    When the assignee is a family member of the assignor

  2. B

    When the assignor designates a new nominee before the assignment

  3. When the assignment is made to the insurance company for a policy loan

    Correct answer

  4. D

    When the assignment is revoked by the assignor

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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