IS 1101.B Basic Agent Tutorial Study Guide

<span itemprop="name">IS 1101.B Basic Agent Tutorial Study Guide</span>

This course provides an introduction to the essentials of flood insurance. The Basic Agent Tutorial will prepare you, the flood insurance agent, to answer your clients’ questions. The NFIP’s mission is to reduce the consequences of flooding by making flood insurance available to property owners and encouraging communities to establish floodplain management programs, by adopting minimum regulations for development in flood hazard areas. Contains correct FEMA IS 1101.b answers. You may be interested in our FEMA IS 1100.A Answers Guide.

Course Date

12/18/2017

Course Overview

This course is intended to provide insurance agents an introduction to the National Flood Insurance Program (NFIP) and help them to gain an understanding of fundamental aspects of the program including general policy rules, regulations, flood map usage, proper rating methods and claims handling processes.

Course Objectives:

To be able to apply knowledge of the National Flood Insurance Program in order to answer customer questions and resolve issues

To be able to build an NFIP policy while taking the necessary community, building, coverage and rating options into consideration

To be able to locate and use NFIP resources

From IS-1101.B: Basic Agent Tutorial

FEMA IS 1101.B EXAMPLE QUESTIONS

An elevated building has no basement and has its lowest elevated floor raised above the ground by foundation walls, shear walls, posts, piers, pilings, or columns.
A. TRUE
B. FALSE

The Residential Condominium Building Association Policy (RCBAP) has to be insured to at least ______ of the RCV, or to the maximum limits available, to avoid a co-insurance penalty.
A. 0.6
B. 0.7
C. 0.8
D. 1

Replacement Cost Value loss settlement is guaranteed as part of the Standard Flood Insurance Policy.
A. TRUE
B. FALSE

When FIRMs change, what grandfathering options do property owners have?
A. Use the new FIRM to rate the building
B. Use the rating structure of a policy that lapsed 5 years ago
C. Use the old Flood Hazard Boundary Map
D. Use the BFE in effect when the building was originally constructed

Actual Cash Value is the cost to replace property with the same kind of material and construction without deduction for depreciation.
A. TRUE
B. FALSE

A basement is defined as any area of the building, including any sunken room or sunken portion of a room, having its floor below ground level (subgrade) on all sides.
A. TRUE
B. FALSE

What important flood-insurance-related information is shown on a FIRM?
A. Flood zones
B. Addresses of previously flood-damaged buildings
C. Completed Elevation Certificates
D. Location of state-insured buildings

A flood is a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or two or more properties (at least one of which is your property) from, for example:
A. Earthquake
B. Mudflow
C. Landslide
D. All of the above
E. None of the above

Which of these items is covered in a basement?
A. Flat-screen television
B. Refrigerator
C. Window air conditioning units
D. Carpeting

Post-FIRM refers to construction or substantial improvement that started on or before December 31, 1974 or before the effective date of the initial FIRM for the community, whichever is later.
A. TRUE
B. FALSE

Download the guide for correct FEMA IS 1101.B answers.