Final answer:
The assignment of life insurance rights to Gail's alma mater is absolute and complete, granting the assignee all rights and the ability to use the cash value of the policy.
Step-by-step explanation:
This question is related to the subject of Insurance. The specific type of assignment being described is called an absolute and complete assignment, in which all the rights of the policy are assigned to the assignee, who in this case is Gail's alma mater. This means that the assignee has the right to use the cash value of the policy, as stated in option b. Additionally, once the rights of the policy are surrendered, the policyowner cannot recover them, as mentioned in option c. Therefore, the correct answer to this question is option d, all of the above.