Flood Insurance Exam Questions with Correct answers
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Course
Flood Insurance
Institution
Flood Insurance
Flood is a covered peril under the Homeowners policy? CORRECT ANSWER False
Flood is covered peril under the auto policy? CORRECT ANSWER False
Key Issues of Flood CORRECT ANSWER - Insured value of property in Atlantic and Gulf Coast counties increased by 80% since 2004
- Evan Greenburg Climat...
Flood Insurance Exam Questions with Correct answers
Flood is a covered peril under the Homeowners policy? CORRECT ANSWER False
Flood is covered peril under the auto policy? CORRECT ANSWER False
Key Issues of Flood CORRECT ANSWER - Insured value of property in Atlantic and Gulf Coast counties increased by 80% since 2004
- Evan Greenburg Climate Change
- 66% of homes in SFHA not insured
- Flood Rates not adequate
- Flood Damage impacting federal deficit
What is a flood? CORRECT ANSWER When normally dry land is inundated by water or mudflow
Caused by hurricanes, broken levees, clogged drainage system or rapid accumulation of rainfall
Probability of Flood Loss CORRECT ANSWER Homes in a special flood hazard area SFHA have a 26% chance of being damaged by flood compared to a 9% chance of fire during a 30 year mortgage period
Flood zones show probability of flooding:
- determined by flood maps compiled by FEMA and the army corp of engineers
- high risk (A and V)
- moderate to low risk (B, C, or X)
Who is eligible for flood insurance? CORRECT ANSWER - Property in a participating Community
a.) Homeowner, Townhouse, Condo, Commercial Property (Both)
Who is not eligible for flood insurance? CORRECT ANSWER Buildings above water and below the ground.
you must live in a special flood hazard area to be eligible for flood insurance: CORRECT ANSWER False
All homes in a SFHA will have flood insurance? CORRECT ANSWER False
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