An assessment of understanding for those that participated in the RAF Flood Training conducted by Susan Stephens on September 26 and 27, 2011.
Regulators are serious about enforcing flood requirements.
Civil Money Penalties can be assessed.
Reputational risk for not complying.
It protects the Borrower and the Lender.
All the above.
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True
False
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True
False
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True
False
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A Standard Flood Hazard Determination Form must be used to document SFHA.
Notice must be provided to a customer if in a SFHA at the time of closing.
Flood insurance is required when making, renewing, increasing, or extending a designated loan.
All of the above
A and C
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Yes
No
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At the time of closing.
At the time the notice is provided to the customer.
At the time the customer can afford it.
All of the above
None of the above
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True
False
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May
May not
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Required
Not required
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