Well, to begin with, the question ought to specify that the function is continuous.
For instance, f(x) = tanx is concave up on (0 , π/2) and concave down on (π/2 , π) but it does not have an inflection point at x = π/2 because it is undefined there. This is very similar to a function's y-values changing signs without that function ever equalling 0 (in fact, that is exactly what y = tanx does at x = π/2 also).
Anyway, if we assume the function is continuous at x = c, then the point (c , f(c)) is indeed a point of inflection. That is the name for a point at which a function's graph changes concavity. If the second derivative is defined there, then f"(c) = 0 and the second derivative will change signs there (since the sign of f"(x) tells us the concavity of f). However, a function like y = 3√x changes concavity at the origin but neither f'(0) nor f"(0) are defined since (0,0) is a point of vertical tangency.
If the function f(x) is continuous at x = c, then (c , f(c)) is NOT ever a relative extremum.
Lastly, it is useful to note that f'(c) need NOT = 0 for a point of inflection to occur. For instance, the function g(x) = x3 + x has a point of inflection at the origin but it is not a flat point of inflection, ie not a stationary point like it is for y = x3. Instead, g'(x) = 3x2 + 1 and g'(0) = 1. So the origin represents the point at which g(x) is increasing at the slowest rate it ever does (namely 1). Because it goes from increasing at a slower and slower rate to increasing at a faster and faster rate at x = 0, g(0) is a point of inflection on the graph of g(x).