ANFI 205 FINAL EXAM ACTUAL QUESTIONS AND
ANSWERS GUARANTEE A+
✔✔In Special Flood Hazard Areas (SFHAs), the Elevation Certificate is required to
properly rate all - ✔✔Post-FIRM buildings.
✔✔Generally, new business applications for elevated-rated risks with a policy effective
date of
January 1, 2007, or later must be submitted with - ✔✔At least two photographs that
show the front and back of the building.
✔✔If the building coverage is less than or equal to $100,000, the deductible available
for the
Mortgage Portfolio Protection Program (MPPP) is - ✔✔$1,000.
✔✔The Mortgage Portfolio Protection Program (MPPP) was introduced as - ✔✔An
additional tool to assist the mortgage-lending and servicing industries in bringing their
mortgage portfolios into compliance.
✔✔According to the National Flood Insurance Program (NFIP) Flood Insurance Manual,
all parties
listed on the Standard Flood Insurance Policy (insured, agent, mortgagees) are mailed
a
Renewal Notice at least how many days prior to the policy expiration date? - ✔✔At least
45 days
✔✔Which one of the following is true if an insured wants to renew his or her Standard
Flood
Insurance Policy with amounts of insurance increased by an inflation factor of 10% for
building
coverage and 5% for contents coverage and pays her premium within 30 days? -
✔✔There is no waiting period.
✔✔A policy was written with both building and contents coverage. In the event of
covered damage
to both the building and contents, the policy - ✔✔Will apply separate building and
contents deductibles.
✔✔Which one of the following expenses is excluded under the National Flood
Insurance Program
(NFIP) Dwelling Form? - ✔✔Additional living expenses incurred while the insured
building is being repaired
, ✔✔Which Standard Flood Insurance Policy form (SFIP) is issued to an owner of a
residential
building containing one to four units who has purchased flood insurance for his
building? - ✔✔Dwelling Form
✔✔The Agreement section of the National Flood Insurance Program (NFIP) Dwelling
Form states
that the policy will pay for direct physical loss by and from flood to your insured property.
Based
on this agreement, if coverage is purchased, the policy will cover - ✔✔The personal
property of the named insured that is damaged by flood waters.
✔✔Which one of the following water events best describes a "flood" as defined by the
National
Flood Insurance Program (NFIP)? - ✔✔Heavy rain that inundates the area and flows
into several properties
✔✔The Federal Policy Fee is - ✔✔Charged for all new and renewal policies.
✔✔Which one of the following is specified in the General Conditions section of the
Dwelling Form
issued by the National Flood Insurance Program (NFIP)? - ✔✔Within 60 days after the
flood loss, the insured must furnish a proof of loss.
✔✔Which one of the following statements is true regarding coverage provided by the
National
Flood Insurance Program (NFIP) Dwelling Form? - ✔✔The policy insures only one
residential dwelling that is specifically described in the
application for insurance.
✔✔Eligibility under the 1982 Act for a building in a Coastal Barrier Resources System
(CBRS) area
requires that a legally valid building permit for the construction of the building was
issued prior
to - ✔✔October 1, 1983.
✔✔Which one of the following is a goal of the Community Rating System (CRS)? -
✔✔Reduce flood damages to insurable property
✔✔In order to charge actuarial rates, who determines if property leased from the
Federal
Government is located on the river-facing side of any dike, levee, or other riverine flood
control
structure? - ✔✔The Administrator
ANSWERS GUARANTEE A+
✔✔In Special Flood Hazard Areas (SFHAs), the Elevation Certificate is required to
properly rate all - ✔✔Post-FIRM buildings.
✔✔Generally, new business applications for elevated-rated risks with a policy effective
date of
January 1, 2007, or later must be submitted with - ✔✔At least two photographs that
show the front and back of the building.
✔✔If the building coverage is less than or equal to $100,000, the deductible available
for the
Mortgage Portfolio Protection Program (MPPP) is - ✔✔$1,000.
✔✔The Mortgage Portfolio Protection Program (MPPP) was introduced as - ✔✔An
additional tool to assist the mortgage-lending and servicing industries in bringing their
mortgage portfolios into compliance.
✔✔According to the National Flood Insurance Program (NFIP) Flood Insurance Manual,
all parties
listed on the Standard Flood Insurance Policy (insured, agent, mortgagees) are mailed
a
Renewal Notice at least how many days prior to the policy expiration date? - ✔✔At least
45 days
✔✔Which one of the following is true if an insured wants to renew his or her Standard
Flood
Insurance Policy with amounts of insurance increased by an inflation factor of 10% for
building
coverage and 5% for contents coverage and pays her premium within 30 days? -
✔✔There is no waiting period.
✔✔A policy was written with both building and contents coverage. In the event of
covered damage
to both the building and contents, the policy - ✔✔Will apply separate building and
contents deductibles.
✔✔Which one of the following expenses is excluded under the National Flood
Insurance Program
(NFIP) Dwelling Form? - ✔✔Additional living expenses incurred while the insured
building is being repaired
, ✔✔Which Standard Flood Insurance Policy form (SFIP) is issued to an owner of a
residential
building containing one to four units who has purchased flood insurance for his
building? - ✔✔Dwelling Form
✔✔The Agreement section of the National Flood Insurance Program (NFIP) Dwelling
Form states
that the policy will pay for direct physical loss by and from flood to your insured property.
Based
on this agreement, if coverage is purchased, the policy will cover - ✔✔The personal
property of the named insured that is damaged by flood waters.
✔✔Which one of the following water events best describes a "flood" as defined by the
National
Flood Insurance Program (NFIP)? - ✔✔Heavy rain that inundates the area and flows
into several properties
✔✔The Federal Policy Fee is - ✔✔Charged for all new and renewal policies.
✔✔Which one of the following is specified in the General Conditions section of the
Dwelling Form
issued by the National Flood Insurance Program (NFIP)? - ✔✔Within 60 days after the
flood loss, the insured must furnish a proof of loss.
✔✔Which one of the following statements is true regarding coverage provided by the
National
Flood Insurance Program (NFIP) Dwelling Form? - ✔✔The policy insures only one
residential dwelling that is specifically described in the
application for insurance.
✔✔Eligibility under the 1982 Act for a building in a Coastal Barrier Resources System
(CBRS) area
requires that a legally valid building permit for the construction of the building was
issued prior
to - ✔✔October 1, 1983.
✔✔Which one of the following is a goal of the Community Rating System (CRS)? -
✔✔Reduce flood damages to insurable property
✔✔In order to charge actuarial rates, who determines if property leased from the
Federal
Government is located on the river-facing side of any dike, levee, or other riverine flood
control
structure? - ✔✔The Administrator
