Which of the following describes the increase in the probability of a loss due to an insured's dishonest tendencies?

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Which of the following describes the increase in the probability of a loss due to an insured's dishonest tendencies?

A) Morale hazard
B) Physical hazard
C) Moral hazard
D) Speculative hazard

Answer: C) Moral hazard

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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The voluntary relinquishment of a legal right is called
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