#1: Describe the six categories for each risk control techniques and provide one example for each. Risk control Avoidance Loss prevention Loss reduction Separation Duplication Question #2: What is the difference between peril and hazard? Define physical hazard, moral hazard, attitudinal hazard and legal hazard. Question # 3: Identify the approaches that insurers can use to deal with the problem of catastrophic loss exposures. Question # 4: What are the two major differences between insurance and hedging