Final answer:
The described 4WD system with a part-time 4WD transfer case, high and low range options, and a neutral mode for towing is a Part-time 4WD system. High range is for normal off-road conditions, while low range is for more challenging terrain.
Step-by-step explanation:
The 4WD system described in the question is a Part-time 4WD system. This type of system allows a vehicle to switch between a two-wheel-drive mode for regular driving conditions and a four-wheel-drive mode for additional traction in off-road or slippery conditions. The presence of high range 4WD and low range 4WD options, along with a neutral mode, is characteristic of part-time systems. The high range is typically used for standard off-road conditions, while low range is used for more extreme off-road situations that require additional power and lower speeds. Neutral mode is used when the vehicle needs to be towed, as it disengages the transmission from the wheels.