FLOOD INSURANCE TEST PAPER ANSWERS AND
QUESTIONS SET A+
✔✔The standard waiting period for coverage to become effective under an NFIP policy
is... - ✔✔30 days; The standard waiting period for coverage to become effective is 30
days. There is no waiting period when the initial purchase of flood insurance is made in
connection with a mortgage loan.
✔✔The document used to certify the lowest floor of a building in a special flood hazard
is... - ✔✔An Elevation Certificate; Elevation certificates are used in special flood hazard
areas to certify the lowest floor of the building. This ensures that the property is in
compliance with local floodplain management laws and that the building is properly
rated.
✔✔An individual who believes that his property should not be included in a special flood
hazard area may apply to FEMA for... - ✔✔A Letter of Map Amendment (LOMA). If an
applicant or insured believes that his property is outside a special flood hazard area and
that flood insurance is not required, he may apply to FEMA for a letter of Map
Amendment (LOMA). A LOMA is an amendment to the currently effective FEMA map
that establishes whether a particular property is located in a special flood hazard area. It
is only issued by FEMA.
✔✔A college dormitory with more than five living units would be written under which
flood insurance form? - ✔✔General Property Form; Risks that are defined as other
residential or nonresidential under the National Flood Insurance Program (NFIP) are
covered under the standard flood insurance policy general property form. This includes
residential buildings with more than five living units, such as dormitories.
✔✔TEST: Which of the following are usually required to be submitted with an
application for a risk in a special flood hazard area? - ✔✔Elevation certificate and two
recent photographs; An application for an elevation-rated risk must include an elevation
certificate and at least two recent photographs showing the front and back of the
building.
, ✔✔TEST: The insured was in the process of adding a sunroom to her home when a
flood loss occurred. The flood destroyed building materials that were stored in her
detached garage. Which coverage in the flood dwelling policy would cover the damage
to the building materials? - ✔✔Coverage A- Building; Materials and supplies for
construction that are stored in a fully enclosed building at or near the property are
covered under building coverage.
✔✔Test: Which of the following is NOT one of the major categories of coverage
provided by a flood insurance policy? - ✔✔Loss of use coverage; The answer is loss of
use coverage. There are four coverages provided in the flood dwelling policy: building
property coverage, personal property coverage, other coverages, and increased cost of
compliance coverage. The other coverages section includes condominium loss
assessments, debris removal, and loss avoidance measures.
✔✔TEST: Under a flood insurance policy, the loss deductible applies... - ✔✔Separately
to each building and personal property loss; A loss deductible applies separately to
each building and personal property loss. Deductibles do not apply to loss avoidance
measures, condominium loss assessments, and increased cost of compliance
coverage.
✔✔TEST: Which of the following coverages is NOT automatically included in the flood
dwelling policy and must be specifically requested on the application for coverage? -
✔✔Personal property; Personal property coverage is not automatically included in the
flood policy. It must be specifically requested on the application for flood insurance.
✔✔TEST: When rating condominium risks, a townhouse or row house is... - ✔✔Always
considered as a low-rise building; The answer is always classified as a low-rise building.
When rating building condominiums risks under the RCBAP, all townhouses and row
houses, regardless of the number of floors or units, and all single-family detached
condominium buildings are classified as low-rise.
✔✔TEST: A flood policy issued by the NFIP may only be purchased in... -
✔✔Participating communities as designated by FEMA; Flood insurance may be written
only in areas that have been designed as participating communities by FEMA.
✔✔TEST: One of the requirements for a loss to be paid at replacement cost under the
flood dwelling policy is that the home qualifies as a principal residence. This means that
the home must have been lived in by the insurance or the insured's spouse for AT
LEAST. - ✔✔80% of the preceding calendar year; To qualify as a principal residence for
replacement cost purposes, at the time of loss a single-family dwelling must have been
lived in by the insured or the insured's spouse for at least 80% of the preceding
calendar year, or 80% of the period of the insured's ownership of the building if less
than one calendar year.
QUESTIONS SET A+
✔✔The standard waiting period for coverage to become effective under an NFIP policy
is... - ✔✔30 days; The standard waiting period for coverage to become effective is 30
days. There is no waiting period when the initial purchase of flood insurance is made in
connection with a mortgage loan.
✔✔The document used to certify the lowest floor of a building in a special flood hazard
is... - ✔✔An Elevation Certificate; Elevation certificates are used in special flood hazard
areas to certify the lowest floor of the building. This ensures that the property is in
compliance with local floodplain management laws and that the building is properly
rated.
✔✔An individual who believes that his property should not be included in a special flood
hazard area may apply to FEMA for... - ✔✔A Letter of Map Amendment (LOMA). If an
applicant or insured believes that his property is outside a special flood hazard area and
that flood insurance is not required, he may apply to FEMA for a letter of Map
Amendment (LOMA). A LOMA is an amendment to the currently effective FEMA map
that establishes whether a particular property is located in a special flood hazard area. It
is only issued by FEMA.
✔✔A college dormitory with more than five living units would be written under which
flood insurance form? - ✔✔General Property Form; Risks that are defined as other
residential or nonresidential under the National Flood Insurance Program (NFIP) are
covered under the standard flood insurance policy general property form. This includes
residential buildings with more than five living units, such as dormitories.
✔✔TEST: Which of the following are usually required to be submitted with an
application for a risk in a special flood hazard area? - ✔✔Elevation certificate and two
recent photographs; An application for an elevation-rated risk must include an elevation
certificate and at least two recent photographs showing the front and back of the
building.
, ✔✔TEST: The insured was in the process of adding a sunroom to her home when a
flood loss occurred. The flood destroyed building materials that were stored in her
detached garage. Which coverage in the flood dwelling policy would cover the damage
to the building materials? - ✔✔Coverage A- Building; Materials and supplies for
construction that are stored in a fully enclosed building at or near the property are
covered under building coverage.
✔✔Test: Which of the following is NOT one of the major categories of coverage
provided by a flood insurance policy? - ✔✔Loss of use coverage; The answer is loss of
use coverage. There are four coverages provided in the flood dwelling policy: building
property coverage, personal property coverage, other coverages, and increased cost of
compliance coverage. The other coverages section includes condominium loss
assessments, debris removal, and loss avoidance measures.
✔✔TEST: Under a flood insurance policy, the loss deductible applies... - ✔✔Separately
to each building and personal property loss; A loss deductible applies separately to
each building and personal property loss. Deductibles do not apply to loss avoidance
measures, condominium loss assessments, and increased cost of compliance
coverage.
✔✔TEST: Which of the following coverages is NOT automatically included in the flood
dwelling policy and must be specifically requested on the application for coverage? -
✔✔Personal property; Personal property coverage is not automatically included in the
flood policy. It must be specifically requested on the application for flood insurance.
✔✔TEST: When rating condominium risks, a townhouse or row house is... - ✔✔Always
considered as a low-rise building; The answer is always classified as a low-rise building.
When rating building condominiums risks under the RCBAP, all townhouses and row
houses, regardless of the number of floors or units, and all single-family detached
condominium buildings are classified as low-rise.
✔✔TEST: A flood policy issued by the NFIP may only be purchased in... -
✔✔Participating communities as designated by FEMA; Flood insurance may be written
only in areas that have been designed as participating communities by FEMA.
✔✔TEST: One of the requirements for a loss to be paid at replacement cost under the
flood dwelling policy is that the home qualifies as a principal residence. This means that
the home must have been lived in by the insurance or the insured's spouse for AT
LEAST. - ✔✔80% of the preceding calendar year; To qualify as a principal residence for
replacement cost purposes, at the time of loss a single-family dwelling must have been
lived in by the insured or the insured's spouse for at least 80% of the preceding
calendar year, or 80% of the period of the insured's ownership of the building if less
than one calendar year.
