Flood Insurance Overview FINAL EXAM (NE 37985)

Why did the private insurance industry give up on providing flood insurance in the 1920s?

A CRS activity that represents a “Public Information” activity credit could include which of the following?

A CRS activity that represents a “Flood Preparedness” activity credit could include which of the following?

What is the goal of the Coastal Barriers Resources Act (COBRA)?

According to the NFIP, who should have flood insurance?

If a property is located in a Special Flood Hazard Area (SFHA), what must a lender require the property owner have before they make, extend, increase, or renew a loan on that property?

Which maps were drafted quickly in the 70s and 80s as a way to provide a rough estimation about which properties probably need flood insurance and which properties have a relatively small chance of flooding?

What is the Base Flood Elevation (BFE)?

Which of the following is NOT a flood insurance policy discussed in this course?

A Standard Flood Insurance Policy (SFIP) will help cover the costs of which of the following activities?

What was the NFIP’s intended purpose?

A Standard Flood Insurance Policy (SFIP) will NOT help cover the costs of which of the following?

Why is the Increased Cost of Compliance Coverage a good investment for the NFIP?

Choosing a higher deductible usually results in the policyholder having which of the following?

The Replacement Cost Value at the time of loss (reduced according to the value of its physical depreciation) is also known as what kind of value assessment?

The cost to replace all or part of a building that is damaged (without depreciation) is known as what kind of value assessment?

The NFIP does NOT allow which of the following?

In order for a building to have a basement, it must have which of the following?

What book, provided by FEMA, is designed to help guide a policyholder through the flood insurance claims process?

Which of the following is a good step for a policyholder to take after a flood?

The flood insurance appeals process can do which of the following?

Which piece of legislation was particularly focused on reducing the amount of flood insurance resources that went to a small group of properties that were repeatedly damaged by floods?

If damage occurs before the effective date on the initial Flood Insurance Rate Map, what program can help cover that damage?

Which system was put into place in order to incentivize behavior that reduces the severity or likelihood of flood damage?

Under the Community Rating System, a 10th class community would have which of the following?