CFM Flood Insurance & NFIP 3

Question 1

What is the Community Rating System (CRS) in the context of the NFIP?

Accepted Answer

A voluntary program that rewards communities implementing floodplain management activities exceeding NFIP minimums with reduced flood insurance premiums

Answer

A system for rating the quality of FEMA flood maps by community

Answer

A scoring system used to determine which communities are suspended from the NFIP

Answer

A federal ranking system for community disaster preparedness

Question 2

CRS discounts on flood insurance premiums are organized into class levels. What is the range of CRS classes?

Accepted Answer

Class 1 through 10

Answer

Class 1 through 5

Answer

Class A through F

Answer

Class 1 through 20

Question 3

Which of the following is NOT one of the four CRS credit series activity categories?

Accepted Answer

Emergency Management Training (Series 700)

Answer

Public Information (Series 300)

Answer

Mapping and Regulations (Series 400)

Answer

Flood Damage Reduction (Series 500)

Question 4

What is the Biggert-Waters Flood Insurance Reform Act of 2012 primarily known for?

Accepted Answer

Phasing out subsidized NFIP rates and moving toward risk-based premiums

Answer

Creating the NFIP in 1968

Answer

Establishing the Community Rating System

Answer

Mandating that all US homes carry flood insurance

Question 5

Under the NFIP, what does 'substantial improvement' mean for an existing building in the floodplain?

Accepted Answer

Any reconstruction or improvement where the cost equals or exceeds 50% of the market value of the structure

Answer

Any renovation costing more than $10,000

Answer

Any addition that increases the footprint of a structure by 25% or more

Answer

Any improvement that adds a second story to a structure

Question 6

What is a Letter of Map Amendment (LOMA) used for in the NFIP?

Accepted Answer

To officially amend a FIRM to show a property or structure has been inadvertently included in a Special Flood Hazard Area

Answer

To request that FEMA remap an entire community's flood zones

Answer

To certify that a community has adopted a new floodplain management ordinance

Answer

To document changes to flood insurance premium rates in a community

Question 7

Which NFIP document provides official flood zone designations and Base Flood Elevations for a community?

Accepted Answer

Flood Insurance Rate Map (FIRM)

Answer

Flood Insurance Study (FIS)

Answer

Elevation Certificate (EC)

Answer

Letter of Map Revision (LOMR)