NFIP Questions with Correct Answers
For what type of property may an applicant or insured choose a maximum deductible of $10,000? CORRECT ANSWER A residential building
Your client lives in a flood zone A. What type of flood risk is his property subject to? CORRECT ANSWER High
A waiting period in flood insurance is usually CORRECT ANSWER 30 days
What would happen if an agent submitted a flood insurance application for a drive in bank teller unit or a pumping station? CORRECT ANSWER Coverage would be
declined
More than 20% of all NFIP flood insurance claims are submitted for what type of property? CORRECT ANSWER Property in a NSFHA
Agents and WYO insurers must record all of the following information in connection with premium payments EXCEPT CORRECT ANSWER The application date
All of the following categories of federal individual assistance are available in the event of a Major Disaster Declaration by the President EXCEPT CORRECT ANSWER Public assistance
Your client's home suffered flood damage. Which of the following items of property would be insured by the SFIP if it was located in the basement? CORRECT ANSWER Furniture
Under the SFIP, what is a river of liquid and flowing mud that IS included in the definition of "flood"? CORRECT ANSWER Mudflow
All of the following are subject to 25% annual rate increases under the HFIAA except CORRECT ANSWER Primary residence
The Elevation Certificate is used for all of the following reasons EXCEPT CORRECT ANSWER As proof of insurance
Under the SFIP, all of the following are considered Property Not Covered EXCEPT CORRECT ANSWER Bathroom fixtures
For what type of property may an applicant or insured choose a maximum deductible of $10,000? CORRECT ANSWER A residential building
Your client lives in a flood zone A. What type of flood risk is his property subject to? CORRECT ANSWER High
A waiting period in flood insurance is usually CORRECT ANSWER 30 days
What would happen if an agent submitted a flood insurance application for a drive in bank teller unit or a pumping station? CORRECT ANSWER Coverage would be
declined
More than 20% of all NFIP flood insurance claims are submitted for what type of property? CORRECT ANSWER Property in a NSFHA
Agents and WYO insurers must record all of the following information in connection with premium payments EXCEPT CORRECT ANSWER The application date
All of the following categories of federal individual assistance are available in the event of a Major Disaster Declaration by the President EXCEPT CORRECT ANSWER Public assistance
Your client's home suffered flood damage. Which of the following items of property would be insured by the SFIP if it was located in the basement? CORRECT ANSWER Furniture
Under the SFIP, what is a river of liquid and flowing mud that IS included in the definition of "flood"? CORRECT ANSWER Mudflow
All of the following are subject to 25% annual rate increases under the HFIAA except CORRECT ANSWER Primary residence
The Elevation Certificate is used for all of the following reasons EXCEPT CORRECT ANSWER As proof of insurance
Under the SFIP, all of the following are considered Property Not Covered EXCEPT CORRECT ANSWER Bathroom fixtures
