Magnets are classified based upon how they occur either naturally or man made true or false

True

Explanation:

Permanent artificial, temporary artificial and natural. They are classified by the way in which they have achieved magnetism and by how long they remain magnetic.

there will be a transfer of electron from the atom to the one having 7 valence electron

Explanation: from the electronic configuration given, the atom will transfer its valence electron (1) to the other atom having 7 valence electron thus attaining a stable octet structure. The atom having 7 valence electron receives the 1 electron to attain a stable octet structure hence forming ionic(Electrovalent) bond.