Please read and reference the articles under “Medical Mari

Please read and reference the articles under “Medical Marijuana -Topic 6” in the case studies folder on the bulk pack to answer thisassignment. You will also have to do some research on your own toanswer the questions. Please cite (a list of links is fine) the sourcesyou used at the end of your assignment.Shortly describe how states are able to legalize marijuana when it isstill illegal at the federal level. Be specific about the laws/memorandumthat allow this. (1 pt)Name 3 specific TRM loss exposures that marijuana producers (i.e.growers and/or retailers) face unrelated to the legality of marijuana.(3 pts)For one of the 3 risks named, answer the following question:If there were no legal concerns, would traditional insurance be agood risk management technique? Why or why not? (referenceeach of the “requirements of an insurable risk”) (3 pts)How does the federal legal status impact how insurance works formarijuana-related businesses? Describe challenges/risks for both theinsurer and the insured. (3 pts)If I buy legal, recreational-use marijuana when I am in Boston, I amcharged an ATM fee if I use a debit card. Why do you think thishappens? Think about banking laws. (1 pt)How have some states (specifically California) acted to help grow theirmarijuana-related insurance business? (1 pt)In one sentence, what is a captive insurer? (1 pt)How could captives be a useful alternative to traditional insurance forthe marijuana industry? (2 pts)