Difference between revisions of "Flood"
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Don't bother reading the ''Summary'' from the Horn reading. It's confusing. Here's what it covers: | Don't bother reading the ''Summary'' from the Horn reading. It's confusing. Here's what it covers: | ||
− | : '''paragraph 1''' | + | : '''paragraph 1''' ''(general info)'' |
:* purpose of NFIP ''(flood insurance & mitigation)'' | :* purpose of NFIP ''(flood insurance & mitigation)'' | ||
− | :* participation in NFIP is | + | :* participation in NFIP is voluntary |
− | : '''paragraph 2''' | + | : '''paragraph 2''' ''(flood maps)'' |
− | :* FEMA makes Risk Maps ''( | + | :* FEMA makes FIRMs ''(FIRMs = Flood Insurance Risk Maps)'' |
+ | :* FIRMs identify SFHAs ''(SFHAs = Special Flood Hazard Areas)'' | ||
+ | : '''paragraph 3''' ''(policies)'' | ||
+ | :* there are 3 types of SFIPs (Standard Flood Insurance Policies) | ||
+ | :* property owners is SFHAs <u>must</u> buy flood insurance | ||
+ | :* property owners in moderate risk areas <u>may</u> buy PRPs ''(Preferred Risk Policies)'' that are cheaper | ||
+ | : '''paragraph 4''' ''(premiums)'' | ||
+ | :* should reflect true costs but some subsidies are available | ||
+ | : '''paragraph 5''' ''(suspension from NFIP)'' | ||
+ | :* probation or suspension from NFIP makes it hard to get disaster relief | ||
+ | : '''paragraph 6''' ''(suspension from NFIP)'' | ||
[https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=Horn&suffix=Flood§ion=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span> | [https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=Horn&suffix=Flood§ion=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span> |
Revision as of 15:55, 29 November 2018
Pop Quiz
BattleTable
Based on past exams, the main things you need to know (in rough order of importance) are:
- funding for NFIP including mechanisms & concerns about sustainability
reference part (a) part (b) part (c) part (d) E (2017.Fall #8) funding:
- concerns regarding NFIPparticipation rate:
- why it's low for NFIPparticipation rate:
- how to increasewind coverage under NFIP:
- arguments for & againstE (2017.Spring#8) risk transfer process:
- crop & flood insurance1risk transfer process:
- criticismsE (2016.Fall #9) NFIP challeneges:
- sustainability, assessmentflood plain development:
- ways to reduceE (2016.Spring#9) uninsurability:
- of flood riskfunctions:
- NFIPBiggert-Waters:
- provisionsE (2015.Fall #8) funding:
- NFIPBiggert-Waters:
- NFIP premium subsidiesBiggert-Waters:
- NFIP participation rateE (2015.Spring#9) see Germani.GovtIns
- [Hint: FCC(ES)statutory mandate:
- NFIPmoral hazard:
- impact on NFIPadverse selection:
- impact on NFIPE (2014.Fall #9) funding:
- NFIPfunding:
- social securityNfunding:
- shortfall for NFIPE (2013.Fall #13) ratemaking principles:
- satisfied by NFIP?improvements:
- to NFIP
- 1 See Germani.GovtIns for the crop insurance part of this question.
- N Not specifically discussed in the Horn reading.
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In Plain English!
Intro
Don't bother reading the Summary from the Horn reading. It's confusing. Here's what it covers:
- paragraph 1 (general info)
- purpose of NFIP (flood insurance & mitigation)
- participation in NFIP is voluntary
- paragraph 2 (flood maps)
- FEMA makes FIRMs (FIRMs = Flood Insurance Risk Maps)
- FIRMs identify SFHAs (SFHAs = Special Flood Hazard Areas)
- paragraph 3 (policies)
- there are 3 types of SFIPs (Standard Flood Insurance Policies)
- property owners is SFHAs must buy flood insurance
- property owners in moderate risk areas may buy PRPs (Preferred Risk Policies) that are cheaper
- paragraph 4 (premiums)
- should reflect true costs but some subsidies are available
- paragraph 5 (suspension from NFIP)
- probation or suspension from NFIP makes it hard to get disaster relief
- paragraph 6 (suspension from NFIP)
Full BattleQuiz You must be logged in or this will not work.
BattleCodes
Memorize:
Conceptual:
Calculational: