The final exam questions to IS 1101.B Basic Agent Tutorial. You may also be interested in our FEMA IS 1101.B Basic Agent Tutorial Answer Key.
How close to grade does the bottom of the flood vent need to be located to be a proper opening?
A. 1 foot or less
B. 2 feet or less
C. 3 feet or less
D. 4 feet or less
Who certifies an Elevation Certificate?
A. A FEMA representative
B. A county tax assessor
C. A claims adjuster
D. A licensed surveyor
A policy was written with both building and contents coverage. In the event of covered damage to both the building and contents, the policy will:
A. Apply separate building and contents deductibles
B. Apply only the building deductible
C. Apply only the contents deductible
D. Waive the deductibles
The _____________ is calculated as a percentage of the total premium.
A. Federal Policy Fee
B. Reserve Fund Assessment
C. Submit-for-Rate fee
D. Expense Constant
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
Standard Flood Insurance Policy exclusions include:
A. Debris removal
B. Flash flooding
C. Tidal wave
D. Additional living expenses
The HFIAA Surcharge is a flat fee applied to all buildings based on the flood zone.
A. TRUE
B. FALSE
The maximum coverage limit for a non-residential condominium building is:
A. $250,000 per unit
B. $500,000 per unit
C. $500,000 per building
D. $750,000 per building
A portion of an elevated building below the lowest elevated floor that is either partially or fully shut in by rigid walls is called:
A. An enclosure
B. A breakaway wall
C. A basement
D. A proper opening
The maximum coverage limit for a one- to four-family residential building in a Regular Program community is:
A. $35,000
B. $100,000
C. $250,000
D. $500,000
The Residential Condominium Building Association Policy (RCBAP) is used to write coverage for individual condo unit owners.
A. TRUE
B. FALSE
The Preferred Risk Policy (PRP) offers coverage to owners and tenants of eligible buildings located in:
A. Emergency Program communities only
B. Non-participating communities only
C. A99, AR, B, C, and X zones
D. V and A zones only
What is the best source to find out if a community participates in the NFIP?
A. The Community Status Book
B. The Elevation Certificate
C. The Flood Insurance Study
D. The NFIP Flood Insurance Manual
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, including ordinances.
A. TRUE
B. FALSE
Which characteristic of a building would make it eligible for flood insurance?
A. Affixed to a temporary site
B. One or more outside rigid walls
C. Has less than 2500 square feet
D. A fully secured roof
Which of the following is a responsibility of an NFIP community?
A. Provide Elevation Certificates free of charge
B. Provide a listing of all insurance professionals who sell flood insurance in the area
C. Identify Coastal Barrier Resource System (CBRS) areas and Otherwise Protected Areas (OPAs)
D. Adopt and enforce floodplain management regulations
Which areas of a community are identified as being at high risk of flooding?
A. D zones
B. V zones
C. X zones
D. All of the above
E. None of the above
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
When FIRMs change, what grandfathering options do property owners have?
A. Use the BFE in effect when the building was originally constructed
B. Use the new FIRM to rate the building
C. Use the rating structure of a policy that lapsed 5 years ago
D. Use the old Flood Hazard Boundary Map
What important flood-insurance-related information is shown on a FIRM?
A. Location of state-insured buildings
B. Flood zones
C. Addresses of previously flood-damaged buildings
D. Completed Elevation Certificates
Replacement Cost Value loss settlement is guaranteed as part of the Standard Flood Insurance Policy.
A. TRUE
B. FALSE
In most cases, an Elevation Certificate is needed when rating a Post-FIRM building in a Special Flood Hazard Area (SFHA).
A. TRUE
B. FALSE
Generally, the elevation difference is the difference between the lowest floor used for rating and the:
A. Base Flood Elevation (BFE)
B. Lowest Adjacent Grade (LAG)
C. Special Flood Hazard Area (SFHA)
D. Highest Adjacent Grade (HAG)
Which of these items is covered in a basement?
A. Carpeting
B. Flat-screen television
C. Refrigerator
D. Window air conditioning units
Which one of the following water events best describes a “flood” as defined by the National Flood Insurance Program?
A. Heavy rain that inundates the area and flows into several buildings
B. Rainwater that saturates the ground and leaks through basement walls
C. Water from a faulty home irrigation system that floods a homeowner’s backyard and basement
D. Water that escapes from a broken water pipe inside the building
Which of the following is not one of the Standard Flood Insurance Policy’s three coverage forms?
A. The General Property Form
B. The Dwelling Form
C. The Residential Condominium Building Association Policy
D. The Commercial Building Form
The Special Loss Settlement is reserved for:
A. Misrepresentation of damaged items
B. Litigation claims
C. Manufactured homes or travel trailers
D. Losses that do not meet the NFIP definition
The Newly Mapped procedure provides what type of rate structure for the first year following the map revision?
A. Preferred Risk premium
B. Standard rates
C. Provisional rates
D. Tentative premium
What document is used as the basis to determine flood insurance premium rates?
A. Topography map
B. Standard Flood Insurance Policy coverage form
C. Elevation Certificate
D. All of the above
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
An exception to the NFIP standard 30-day waiting period is:
A. Change to agent of record
B. Change of ownership (requires proof of title)
C. Policy purchase outside of the hurricane season
D. A map revision from a low-risk to a high-risk zone
What information from an Elevation Certificate can assist in determining the Lowest Floor Elevation (LFE) for rating purposes?
A. Building diagram number
B. Number of proper openings
C. Location of machinery and equipment
D. Elevation of top of bottom floor
E. All of the above
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
Pre-FIRM buildings that do not meet the primary residence definition will be subject to a ____ annual premium increase.
A. 0.1
B. 0.15
C. 0.18
D. 0.25
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
Which statement is true when insuring personal property?
A. Personal Property is insurable outside the building’s walls.
B. Personal property includes items such as blinds and awnings.
C. A built-in microwave is not considered a personal property item.
D. Currency is covered as a personal property item.
What is the standard waiting period for a flood insurance policy to become effective?
A. 1 day
B. 5 days
C. 15 days
D. 30 days
A Non-SFHA is a zone that has a 1% likelihood of flooding within any given year.
A. TRUE
B. FALSE
A refund is available anytime a policyholder cancels his or her NFIP flood policy regardless of reason.
A. TRUE
B. FALSE
A Preferred Risk Policy ______________.
A. is available to policyholders who have had insurance for at least 5 years
B. is a low-cost rating option
C. is available in low-and moderate-risk flood zones regardless of loss history
D. All of the above
E. None of the above
Increased Cost of Compliance’s maximum coverage limit is:
A. $15,000
B. $20,000
C. $25,000
D. $30,000
Where can current and historic FIRMs be found?
A. The FloodSmart website
B. The NFIP Flood Insurance Manual
C. FEMA’s Flood Map Service Center
D. The Community Status Book
The Standard Flood Insurance Policy covers which of the following items?
A. Swimming pools
B. Business interruption
C. A hot tub within a bathroom
D. Additional living expenses
Coverage is extended to detached garages on all three Standard Flood Insurance Policy forms.
A. TRUE
B. FALSE
Property owners in a non-participating community can purchase NFIP flood insurance.
A. TRUE
B. FALSE
When selecting the $10,000 residential deductible option, the same deductible must apply to both building and contents.
A. TRUE
B. FALSE
Which of these is a benefit for a community participating in the Community Rating System (CRS)?
A. Floodplain variances can be granted by the mayor of the community.
B. Elevation Certificates are not required to rate policies.
C. Flood maps are revised every three years.
D. NFIP policyholders receive discounts on their flood insurance policies.
An agent can access the National Flood Insurance Program by writing flood insurance through:
A. A local community floodplain department
B. A WYO company
C. US Army Corps of Engineers
D. The state insurance department
Flood insurance can be purchased in low- to moderate-risk flood zones in an NFIP participating community.
A. TRUE
B. FALSE
The NFIP Servicing Agent is also referred to as the:
A. NFIP Select
B. NFIP Target
C. NFIP Direct
D. NFIP Complete
What is the initial phase of a community’s participation in the National Flood Insurance Program called?
A. Emergency Program
B. Regular Program
C. Continuation Program
D. Primary Program
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
An official presidential declaration of disaster is required before a policyholder can file a flood insurance claim.
A. TRUE
B. FALSE