CFS CFS Flood Insurance & Claims Assessment 2

Question 1

What is the maximum building coverage limit available under a standard NFIP policy for a residential building?

Accepted Answer

$250,000

Answer

The NFIP provides a maximum of $250,000 in building coverage for residential structures; homeowners needing additional coverage may purchase excess flood insurance.

Question 2

Which FEMA program gives NFIP policyholders in communities that adopt enhanced floodplain management measures a discount on flood insurance premiums?

Accepted Answer

Community Rating System (CRS)

Answer

The Community Rating System (CRS) is a voluntary program that rewards communities exceeding minimum NFIP requirements with premium discounts of 5% to 45% for policyholders.

Question 3

When completing Section C of the Elevation Certificate, the surveyor must reference elevations to which datum?

Accepted Answer

NGVD 29 or NAVD 88 as shown on the effective FIRM

Answer

Section C elevations on the Elevation Certificate must be reported in the vertical datum (NAVD 88 or NGVD 29) used on the effective Flood Insurance Rate Map for that community.

Question 4

A pre-FIRM building is one constructed before which date, and why does this distinction matter for flood insurance?

Accepted Answer

Before the community's initial FIRM effective date — they may qualify for subsidized rates

Answer

Pre-FIRM buildings were constructed before the community's first Flood Insurance Rate Map and may have historically qualified for subsidized rates, though Risk Rating 2.0 transitioned most to actuarial pricing.

Question 5

Increased Cost of Compliance (ICC) coverage under an NFIP policy pays up to how much to help bring a substantially damaged building into compliance?

Accepted Answer

$50,000

Answer

ICC coverage provides up to $30,000 to help owners of substantially damaged or repetitive loss buildings pay the cost of elevating, floodproofing, demolishing, or relocating the structure.

(CFS) Certified Floodplain Surveyor Practice Test

(CFS) Certified Floodplain Surveyor Practice Test

CFS CFS Flood Insurance & Claims Assessment 2