Nfip flood insurance Study guides, Class notes & Summaries

NFIP Flood Insurance Exam Questions and Answers WYO Program - ️️ "Write your own" insurers write the coverage on their own "paper" but the NFIP reinsures 100% of the coverage Wait period for policy to become effective - ️️ 30 days, this is done to avoid panic buying before disasters strike Standard Flood Insurance Policy (SFIP) - ️️ Defines coverage, limits , and exclusions for NFIP flood Insurance policies with terms and conditions unique to the NFIP - NFIP insurers can O...

Why was the commercial Insurance Deregulation Act Created? Correct Answer To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? Correct Answer Commercial policies When must rate amendments & policy forms be filed with the commissioner? Correct Answer 30 days before What losses are excluded from flood insurance? Correct Answ...

Virginia Property and Casualty Exam (Latest 2024/ 2025 Update) Practice Questions and Verified Answers| 100% Correct| Grade A Q: If information on consumer reports differs from an applicant's statements and causes the insurer to reject the application, the insurer has made a/an: A. Adverse underwriting decision B. Unfair decision C. Unfair discriminatory decision D. Negative underwriting decision Answer: A. Adverse underwriting decision Q: Identify a federal law that...

The Biggest Problem Facing Flood Insurance In America Today Is That CORRECT ANSWER Only People Likely To Have A Flood Will Obtain Coverage Flood Insurance: Yesterday, Today, & Tomorrow Flood Insurance Down Through the Ages (until 1968) CORRECT ANSWER Floods have provoked major human responses throughout recorded time. Our modern calendar exists because, 5,000 years ago, Egyptians needed a way to predict and take measures against the annual flooding of the Nile. Risk management and flood cont...

NATIONAL FLOOD INSURANCE POLICY (NFIP) QUIZZES & ANS 2024!!

NJ Property/ Casualty Insurance Exam SeWhy was the commercial Insurance Deregulation Act Created? - ANSWER To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? - ANSWER Commercial policies When must rate amendments & policy forms be filed with the commissioner? - ANSWER 30 days before What losses are excluded from flood in...

What coverage does Community Eligibility apply to? CORRECT ANSWER Flood insurance through FEMA What's the difference between Emergency Program and Regular Program in the National Flood Insurance Program? CORRECT ANSWER Emergency applies to homes in communities that are a normally not a flood hazard. Regular programs are awarded to an entire community that is eligible due to flood hazard. What is the flood coverage on a regular program in a 1-4 Family Dwelling? CORRECT ANSWER $250,000 O...

CFM Exam Study Guide questions and answers 100% guaranteed success. Riverine, Coastal, and Shallow Flooding - correct answer. What are the three most common types of flooding? Flash Flooding - correct answer. Which type of flooding has accounted for the most flood-related deaths? Meander - correct answer. A curve or turn in a river channel? Storm Surge - correct answer. What is the major cause in coastal flooding? Underwater earthquakes or volcanoes - corr...

CFM Exam questions and answers 100% verified. Shallow flooding problems fall into (3) categories - correct answer. Sheet flow, ponding, urban drainage, coastal flooding (depths 1-3 feet) Describe areas where ponding may be a problem - correct answer. Glaciated areas, caves and sinkholes, man-made features What are (5) Special Flood Hazards - correct answer. Closed basin lakes, uncertain flow paths, dam breaks, ice jams, mud flows Alluvial fan flooding is what typ...

What does FDPA stand for? CORRECT ANSWER Flood Disaster Protection Act What does NFIP stand for? CORRECT ANSWER National Flood Insurance Program What does SFHA stand for? CORRECT ANSWER Special Flood Hazard Area What does FEMA stand for? CORRECT ANSWER Federal Emergency Management Agency What does WYO stand for? CORRECT ANSWER Write Your Own What does SFIP stand for? CORRECT ANSWER Standard Flood Insurance Policy What federally-backed insurance programs are offered through FEMA...