You'll want to jack the car up and have someone move the steering wheel back and forth in a short arc. Try to feel any looseness in the tie rod ends- both inner and outer can wear and have excess play in them. A hand placed on the outside of the tie rod end can identify looseness when someone operates the steering wheel. For this test you'd want the tires turned to the right. Recently I've come across a lot of bad inner tie rod ends, which is the more expensive and difficult one to replace (of course).
The wheel bearing may also be loose- you would be able to notice play in the wheel itself- hold the tire at top and bottom and give it a good wiggle- it it's loose here, it would indicate a bad wheel bearing.
A pry bar can be used to test the ball joint for looseness. Any play in any of these parts indicates need for replacement.
Also inspect the rubber bushings for the sway bar, sway bar links, and the back end of the control arm for cracks, looseness, missing pieces.
If you don't feel qualified to inspect the front suspension, please have it done by a competent shop, preferably a Volvo specialty shop- the chain-store shops *ALWAYS* overcharge for Volvo stuff and most of it's really very straightforward. An alignment will be required after replacing any major components and should be done regularly anyway.
Good luck with it.
--
Rob Bareiss, New London CT ::: '87 244DL/M47- 225K, 88 744GLE- 209K, 91 244 183K. Also responsible for the care and feeding of: 88 745GLE, 229K, 88 244GL, 146K, 87 244DL, 235K, 88 245DL, 236K