Unit 2: Buying and Selling in a Flood Zone
Jimmy's property is considered by FEMA to be susceptible to inundation by floodwaters from various sources, which means it is located in a ______.
Floodplain
______ is one the most common types of inland flooding. It happens when a body of water exceeds its capacity.
River flooding
Which of the following is the term that FEMA now uses in reference to flooding?
Base flood and 1% annual chance flood
Ryland's beach bungalow flooded when extreme weather caused unusually high tides. This type of flooding is called ______.
Coastal
Sergio's home flooded two years ago. He personally repaired all of the extensive damage. He asks you if he must disclose the property's flood history. You tell him that ______.
Disclosing such information could protect him from liability later
FEMA defines _______ as "flooding with an average depth limited to 3.0 feet or less where no defined channel exists."
Shallow flooding
The home Katie wants to buy is in a high-risk flood area. This means that Katie may need to provide her insurer with a(n) ______.
Elevation certificate (EC)
A sudden but heavy storm caused Judith's home to flood. This type of flooding is called ______.
Flash flooding
______ is an important part of the National Flood Insurance Program, because it provides the basis for regulations and flood insurance requirements.
Flood hazard mapping
Determine which of the following statements regarding flood insurance is true.
Flood insurance is always purchased separately from homeowners insurance.
Joffrey just paid cash on a property. What is the flood insurance requirement for a cash purchase?
Flood insurance isn't required with purchases that don't involve a lender, but it's something to consider.
A _______ looks at the statistical likelihood of flooding from various types of storms modeled by FEMA.
Flood insurance risk map (FIRM)
A _______ can provide details about a property's location and whether it's in a flood insurance risk map (FIRM) zone.
Flood map
FEMA asserts that ______ is the most common cause of property damage.
Flooding
A ________ is any land area susceptible to being inundated by floodwaters from any source.
Floodplain
After weeks of steady rain, the ground around Rosa's home was saturated, and her property flooded. This type of flooding is called ________.
Ground flooding
Ashanti is dealing with a flood in which the wiring and cabling in her home were completely submerged. She should ______.
Have a professional look at everything
Determine which of the following statements about selling a home in a flood zone is true.
It's possible for a seller to challenge a property's flood zone designation.
One of the NFIP's greatest challenges is ______.
Lack of solvency
Sansa's property was damaged during a recent flash flood. It's likely that her home has some ______.
Mold damage
Morgan wants to buy a home that borders a flood zone. If the FIRM changes and Morgan's home ends up added to the existing flood zone, what could happen?
Morgan's insurance costs would go up.
The ______ provides as much as $350,000 toward flood insurance coverage where federally backed mortgages require it in 22,000 communities across the country.
National Flood Insurance Program (NFIP)
Licensee Deb is getting ready to list a property that has prior flood damage. Which of the following statements is true?
She should be suspicious of any odd odors.
A ______ is a river channel and the adjacent land areas that must be reserved in order to discharge the base flood without increasing the water surface elevation more than a designated height.
Regulatory floodway
To help predict and mitigate the risk of flooding, FEMA developed a national program called _______.
Risk Mapping, Assessment, and Planning
Marco's property flooded when a nearby river exceeded its capacity. This type of flooding is called ______.
River flooding
A flood insurance risk map (FIRM) shows the ______.
Susceptibility of properties to flooding
Some experts predict that the risk of ________ flooding will increase due to issues such as global warming.
Coastal