Certified Floodplain Manager | Exam Set 2 Questions and Answers
with 100% Correct Answers | Latest Version
Question 1.
When was the National Flood Insurance Act created?
Correct Answer: 1968
Question 2.
When did Congress first amend the NFIA and what was the name of the Act?
Correct Answer: 1973 to create the Flood Disaster Protection Act
Question 3.
What did the Flood Disaster Protection Act do?
Correct Answer: Made flood insurance mandatory for properties located in
Special Flood Hazard Areas (high risk/SFHA) with a federally backed loan.
Question 4.
What is the purpose of the National Flood Insurance Program?
Correct Answer: To provide an insurance alternative to disaster assistance and
to mitigate escalating costs of repairing damage to buildings and their contents
caused by floods.
Question 5.
Who administers the NFIP?
Correct Answer: Federal Insurance Mitigation Association (FIMA) which is a
component of FEMA. FEMA is a component of Homeland Security. Homeland
Security ' FEMA ' FIMA ' NFIP
Question 6.
What is the Write Your Own Program and when was it established?
Correct Answer: Established in 1983. It is a combined effort between the federal
government and private insurance carriers (companies).
Question 7.
What are the responsibilities of the federal government under the Write Your Own
Program?
Correct Answer: Federal govt takes on the financial burden and backs ' the
floodplain policies through the NFIP
,Question 8.
What are the responsibilities of private insurance companies under the Write Your Own
Program?
Correct Answer: -Private insurance companies the NFIP allows Private '
Insurance companies to sell insurance nationwide. The Private Insurance
companies must agree to follow the rules the NFIP establishes.
Question 9.
What is repetitive loss?
Correct Answer: A Repetitive Loss (RL) property is any insurable building for
which two or more claims of more than $1,000 were paid by the National Flood
Insurance Program (NFIP) within any rolling ten-year period, since 1978. A RL
property may or may not be currently insured by the NFIP.
Question 10.
What is Increased Cost of Compliance (ICC) coverage?
Correct Answer: Increased Cost of Compliance (ICC) coverage is one of several
resources for flood insurance policyholders who need additional help rebuilding
after a flood.
Question 11.
How much money can someone receive from ICC coverage?
Correct Answer: It provides up to $30,000 to help cover the cost of mitigation
measures that will reduce flood risk.
Question 12.
What is the Coastal Barriers Resources Act and what year was it developed?
Correct Answer: Developed in 1982 this legislation protects sensitive coastal
resources and prohibits any development that would involve federal assistance.
Question 13.
What did the Flood Insurance Reform Act of 1994 do?
Correct Answer: -Codified community rating system (CRS) -Established 30-day
waiting period -Increased maximum coverage availability -Established
mitigation grant program -5 year map review period -Strengthened Mandatory
Purchase Requirement
Question 14.
What did the Flood Insurance Reform Act of 2004 do?
Correct Answer: -Digital flood hazard data -Created mitigation assistance for
repetitive losses -Agent education -Established severe repetitive loss program
,Question 15.
When was the Biggert-Waters Flood Insurance Reform Act established?
Correct Answer: 2012
Question 16.
What did the Biggert-Waters Flood Insurance Reform Act do?
Correct Answer: -Eliminated of long-standing subsidies previously available to
certain pre-FIRM policyholders -All properties in high risk areas required to have
elevation certificate (EC). Needed to calculate insurance program. -Gradual
increase in premium until actuarial is met ->Actuarial - An actuary's work of
compiling and analyzing statistics to calculate insurance risks and premiums
Question 17.
When was the Biggert-Waters Flood Insurance Act repealed and what was it replaced with?
Correct Answer: Homeowner Flood Insurance Affordability Act of 2014
Question 18.
What did the Homeowner Flood Insurance Act of 2014 do?
Correct Answer: -Repealed and modified aspects of BW-12 -Lowers rate increase
of BW-12, prevents some future rate increases and implements a surcharge on
all policyholders -->Surcharge - an additional payment -Provided refunds to
policy holders from BW-12 rate increases -New surcharge ($25 primary
residents, $250 all other properties) -Newly Mapped and Preferred Risk Rate
(18% annual increase cap)
Question 19.
What are the "3 legs" to the NFIP?
Correct Answer: Flood Hazard I.D. (Mapping) Flood Mitigation (Regulations,
Zoning, etc.) Flood Insurance (federally-backed coverage for property owners)
Question 20.
What are the different Community Rating System classes and their
Correct Answer:
Question 21.
To determine the market value for substantial damage, always use:
Correct Answer: The value of the structure
Question 22.
What is the Hazard Mitigation Grant Program?
Correct Answer: A way to provide funding to state, local, tribal, and territorial
, governments so they can develop hazard mitigation plans and rebuild in a way
that reduces or mitigates future disaster losses in their communities.
Question 23.
When is this funding from the Hazard Mitigation Grant Program available?
Correct Answer: After a presidentially declared disaster
Question 24.
Who can apply for the Hazard Mitigation Grant?
Correct Answer: -It allows the state, local, tribal or territorial government to
apply for a grant. -NOT HOMEOWNERS OR BUSINESSES
Question 25.
What is the HMGP Declaration process?
Correct Answer:
Question 26.
What are the FEMA Grant Programs?
Correct Answer:
Question 27.
What is the HMGP Disaster Grant timeline?
Correct Answer:
Question 28.
What is the FEMA grant application process?
Correct Answer:
Question 29.
What are the three categories for HMGP funding?
Correct Answer: Projects, Planning, Management Costs
Question 30.
What is deemed activity for HMGP planning?
Correct Answer: -Updating or improving sections of current HMP -Integrating
info from HMPs into other planning efforts -Building capability -Evaluating
adoption of ordinances or codes
Question 31.
Where can HMGP Planning requirements be found?
with 100% Correct Answers | Latest Version
Question 1.
When was the National Flood Insurance Act created?
Correct Answer: 1968
Question 2.
When did Congress first amend the NFIA and what was the name of the Act?
Correct Answer: 1973 to create the Flood Disaster Protection Act
Question 3.
What did the Flood Disaster Protection Act do?
Correct Answer: Made flood insurance mandatory for properties located in
Special Flood Hazard Areas (high risk/SFHA) with a federally backed loan.
Question 4.
What is the purpose of the National Flood Insurance Program?
Correct Answer: To provide an insurance alternative to disaster assistance and
to mitigate escalating costs of repairing damage to buildings and their contents
caused by floods.
Question 5.
Who administers the NFIP?
Correct Answer: Federal Insurance Mitigation Association (FIMA) which is a
component of FEMA. FEMA is a component of Homeland Security. Homeland
Security ' FEMA ' FIMA ' NFIP
Question 6.
What is the Write Your Own Program and when was it established?
Correct Answer: Established in 1983. It is a combined effort between the federal
government and private insurance carriers (companies).
Question 7.
What are the responsibilities of the federal government under the Write Your Own
Program?
Correct Answer: Federal govt takes on the financial burden and backs ' the
floodplain policies through the NFIP
,Question 8.
What are the responsibilities of private insurance companies under the Write Your Own
Program?
Correct Answer: -Private insurance companies the NFIP allows Private '
Insurance companies to sell insurance nationwide. The Private Insurance
companies must agree to follow the rules the NFIP establishes.
Question 9.
What is repetitive loss?
Correct Answer: A Repetitive Loss (RL) property is any insurable building for
which two or more claims of more than $1,000 were paid by the National Flood
Insurance Program (NFIP) within any rolling ten-year period, since 1978. A RL
property may or may not be currently insured by the NFIP.
Question 10.
What is Increased Cost of Compliance (ICC) coverage?
Correct Answer: Increased Cost of Compliance (ICC) coverage is one of several
resources for flood insurance policyholders who need additional help rebuilding
after a flood.
Question 11.
How much money can someone receive from ICC coverage?
Correct Answer: It provides up to $30,000 to help cover the cost of mitigation
measures that will reduce flood risk.
Question 12.
What is the Coastal Barriers Resources Act and what year was it developed?
Correct Answer: Developed in 1982 this legislation protects sensitive coastal
resources and prohibits any development that would involve federal assistance.
Question 13.
What did the Flood Insurance Reform Act of 1994 do?
Correct Answer: -Codified community rating system (CRS) -Established 30-day
waiting period -Increased maximum coverage availability -Established
mitigation grant program -5 year map review period -Strengthened Mandatory
Purchase Requirement
Question 14.
What did the Flood Insurance Reform Act of 2004 do?
Correct Answer: -Digital flood hazard data -Created mitigation assistance for
repetitive losses -Agent education -Established severe repetitive loss program
,Question 15.
When was the Biggert-Waters Flood Insurance Reform Act established?
Correct Answer: 2012
Question 16.
What did the Biggert-Waters Flood Insurance Reform Act do?
Correct Answer: -Eliminated of long-standing subsidies previously available to
certain pre-FIRM policyholders -All properties in high risk areas required to have
elevation certificate (EC). Needed to calculate insurance program. -Gradual
increase in premium until actuarial is met ->Actuarial - An actuary's work of
compiling and analyzing statistics to calculate insurance risks and premiums
Question 17.
When was the Biggert-Waters Flood Insurance Act repealed and what was it replaced with?
Correct Answer: Homeowner Flood Insurance Affordability Act of 2014
Question 18.
What did the Homeowner Flood Insurance Act of 2014 do?
Correct Answer: -Repealed and modified aspects of BW-12 -Lowers rate increase
of BW-12, prevents some future rate increases and implements a surcharge on
all policyholders -->Surcharge - an additional payment -Provided refunds to
policy holders from BW-12 rate increases -New surcharge ($25 primary
residents, $250 all other properties) -Newly Mapped and Preferred Risk Rate
(18% annual increase cap)
Question 19.
What are the "3 legs" to the NFIP?
Correct Answer: Flood Hazard I.D. (Mapping) Flood Mitigation (Regulations,
Zoning, etc.) Flood Insurance (federally-backed coverage for property owners)
Question 20.
What are the different Community Rating System classes and their
Correct Answer:
Question 21.
To determine the market value for substantial damage, always use:
Correct Answer: The value of the structure
Question 22.
What is the Hazard Mitigation Grant Program?
Correct Answer: A way to provide funding to state, local, tribal, and territorial
, governments so they can develop hazard mitigation plans and rebuild in a way
that reduces or mitigates future disaster losses in their communities.
Question 23.
When is this funding from the Hazard Mitigation Grant Program available?
Correct Answer: After a presidentially declared disaster
Question 24.
Who can apply for the Hazard Mitigation Grant?
Correct Answer: -It allows the state, local, tribal or territorial government to
apply for a grant. -NOT HOMEOWNERS OR BUSINESSES
Question 25.
What is the HMGP Declaration process?
Correct Answer:
Question 26.
What are the FEMA Grant Programs?
Correct Answer:
Question 27.
What is the HMGP Disaster Grant timeline?
Correct Answer:
Question 28.
What is the FEMA grant application process?
Correct Answer:
Question 29.
What are the three categories for HMGP funding?
Correct Answer: Projects, Planning, Management Costs
Question 30.
What is deemed activity for HMGP planning?
Correct Answer: -Updating or improving sections of current HMP -Integrating
info from HMPs into other planning efforts -Building capability -Evaluating
adoption of ordinances or codes
Question 31.
Where can HMGP Planning requirements be found?
