The process by which a court decides on the constitutionality of legislative enactments and actions of the executive branch is:

Curt borrowed money from a bank to purchase a fishing boat. He purchased property insurance on the boat. Curt had difficulty making loan payments because he did not catch many fish, and fish prices were low

Curt intentionally sunk the boat, collected from his insurer, and paid off the loan balance. This scenario illustrates the problem of A) adverse selection. B) moral hazard. C) nondiversifiable risk. D) attitudinal hazard.

XYZ Insurance Company writes coverage for most perils which can damage property. XYZ, however, does not write flood insurance on property located in flood plains

Which requirement of an ideally insurable risk might be violated if XYZ wrote flood insurance on property located in flood plains? A) There must be a large number of similar exposure units. B) The loss should not be catastrophic. C) The chance of loss must be calculable. D) The losses must be determinable and measurable.