Yes, ABSOLUTE is a Scrabble word!

Letter values in Scrabble US: A 1, B 3, S 1, O 1, L 1, U 1, T 1, E 1.

Is it a valid word?

ABSOLUTE is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

something that is conceived or that exists independently and not in relation to other things; something that does not depend on anything else and is beyond human control; something that is not relative

perfect or complete or pure
complete and without restriction or qualification; sometimes used informally as intensifiers
not limited by law
expressing finality with no implication of possible change
not capable of being violated or infringed

Also: out-and-out, right-down.