CRCM - // /
Week
/ //
1 /
Flood
/ /
Disaster
/ /
Protection
/ /
Act
/ /
(FDPA)
/ /
Exam Questions With Correct Answers
/ // // // //
MIER //- //correct //answer(s) //✔✔ //The //FDPA //prohibits //federally //regulated //lending //institutions
//from /
/making, /
/increasing, /
/extending /
/or /
/renewing /
/loans /
/secured /
/by /
/buildings /
/or /
/mobile /
/homes /
/located, /
/or /
/to /
/be /
,/located, /
/in //
a/
/special /
/flood /
/hazard /
/area /
/of //
a/
/community /
/participating /
/in /
/the /
/National /
/Flood /
/Insurance /
/Program /
/(NFIP), /
/unless //the //real //and //personal //property //securing //the //loan //is //covered //by //flood //insurance.
National /
/Flood /
/Insurance /
/Reform //Act //of //1994 //- //correct //answer(s) //✔✔ //Made //changes //to //the //NFIP, //including:
1. //Extension //of //the //waiting //period //before //flood //insurance //takes //effect
2. //Expanded //flood //insurance //coverage
3. //Added //civil //money //penalties //for //violations //of //law
4. /
/Required /
/banks //to //escrow //funds //for //flood //insurance //if //they //escrow //funds //for //taxes //or //insurance
5. /
/Mandatory /
/force /
/placing /
, /of /
/flood //insurance //if //the //borrower //does //not //keep //insurance //in //effect //on //the //covered //loan.
Biggert-
Waters /
/Flood /
/Insurance /
/Reform /
/Act /
/of /
/2012 //- /
/correct /
/answer(s) /
/✔✔ /
/This /
/law /
/made /
/significant /
/changes /
/to //the //basic //flood //insurance //program, //limiting //coverage //and //increasing //premiums.
Homeowner /
/Flood /
/Insurance /
/Affordability /
/Act /
/of /
/2014 /
/(HFIAA) //- /
/correct //answer(s) //✔✔ //Congress's //role //back //of //the //rate //increases //from //Biggert-
Waters, /
/in /
/response /
/to //consumer //dissatisfaction //with //the //large //increases //in //flood //insurance //premiums.
Week
/ //
1 /
Flood
/ /
Disaster
/ /
Protection
/ /
Act
/ /
(FDPA)
/ /
Exam Questions With Correct Answers
/ // // // //
MIER //- //correct //answer(s) //✔✔ //The //FDPA //prohibits //federally //regulated //lending //institutions
//from /
/making, /
/increasing, /
/extending /
/or /
/renewing /
/loans /
/secured /
/by /
/buildings /
/or /
/mobile /
/homes /
/located, /
/or /
/to /
/be /
,/located, /
/in //
a/
/special /
/flood /
/hazard /
/area /
/of //
a/
/community /
/participating /
/in /
/the /
/National /
/Flood /
/Insurance /
/Program /
/(NFIP), /
/unless //the //real //and //personal //property //securing //the //loan //is //covered //by //flood //insurance.
National /
/Flood /
/Insurance /
/Reform //Act //of //1994 //- //correct //answer(s) //✔✔ //Made //changes //to //the //NFIP, //including:
1. //Extension //of //the //waiting //period //before //flood //insurance //takes //effect
2. //Expanded //flood //insurance //coverage
3. //Added //civil //money //penalties //for //violations //of //law
4. /
/Required /
/banks //to //escrow //funds //for //flood //insurance //if //they //escrow //funds //for //taxes //or //insurance
5. /
/Mandatory /
/force /
/placing /
, /of /
/flood //insurance //if //the //borrower //does //not //keep //insurance //in //effect //on //the //covered //loan.
Biggert-
Waters /
/Flood /
/Insurance /
/Reform /
/Act /
/of /
/2012 //- /
/correct /
/answer(s) /
/✔✔ /
/This /
/law /
/made /
/significant /
/changes /
/to //the //basic //flood //insurance //program, //limiting //coverage //and //increasing //premiums.
Homeowner /
/Flood /
/Insurance /
/Affordability /
/Act /
/of /
/2014 /
/(HFIAA) //- /
/correct //answer(s) //✔✔ //Congress's //role //back //of //the //rate //increases //from //Biggert-
Waters, /
/in /
/response /
/to //consumer //dissatisfaction //with //the //large //increases //in //flood //insurance //premiums.
