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Question 1 of 6

1. Question
SPECIAL FLOOD HAZARD AREA

A lender is processing a loan made for the purpose of extending credit, renewing credit, or increasing a credit limit.

What flood-related determination must be made?
- A) Whether the borrower currently has homeowner insurance
- B) Whether the property is located in a Special Flood Hazard Area
- C) Whether the property is located in a rural development zone
- D) Whether the borrower has ever filed a flood insurance claim
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Question 2 of 6

2. Question
SPECIAL FLOOD HAZARD AREA NOTICE

A lender determines that the subject property is located in a Special Flood Hazard Area.

When must the lender provide the borrower with the required notice?
- A) At least 10 days prior to closing
- B) Within 30 days after closing
- C) Only after the first mortgage payment is due
- D) At loan payoff
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Question 3 of 6

3. Question
SPECIAL FLOOD HAZARD AREA NOTICE

A flood determination shows that a borrower property is located in a Special Flood Hazard Area.

What must the lender notice tell the borrower?
- A) That the property is determined to be in a Special Flood Hazard Area
- B) That flood insurance is never required on residential property
- C) That the borrower may ignore flood insurance requirements until after closing
- D) That the lender may waive all flood-related disclosures
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Question 4 of 6

4. Question
PARTICIPATING COMMUNITY

A property is located in a Special Flood Hazard Area and also located in a participating community.

What must the borrower be told about flood insurance availability?
- A) Flood insurance is unavailable because the property is in a flood hazard area
- B) Insurance under the National Flood Insurance Program is available
- C) Only private insurance may be purchased
- D) Flood insurance may be purchased only after default
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Question 5 of 6

5. Question
NON-PARTICIPATING COMMUNITY

A lender determines that a property is in a Special Flood Hazard Area but located in a non-participating community.

What must the notice explain?
- A) The borrower is automatically exempt from flood insurance requirements
- B) Insurance under the National Flood Insurance Program will not be available
- C) The lender may close without giving any notice
- D) The property is no longer considered a flood risk
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Question 6 of 6

6. Question
BORROWER ACKNOWLEDGMENT

A lender provides the required Special Flood Hazard Area notice before closing.

What must the lender obtain before closing?
- A) A verbal confirmation from the listing agent
- B) Written acknowledgment from the borrowers that they received the notification
- C) A waiver from the appraiser
- D) A title company certification that flood insurance is unnecessary
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