Which of the following is true about flood insurance?
a. Properties in a flood zone identified by FEMA must carry flood insurance.
b. Homeowner's insurance will cover loss from floods.
c. Flood insurance can be obtained only if you reside in a flood zone.
d. Floods are infrequent enough that flood insurance is optional in all states.
Answer: a. Properties in a flood zone identified by FEMA must carry flood insurance.
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Indicate whether the statement is true or false
Which of the following is a primary reason that insurance consumers are not well-informed?
A) Insurers have not made much effort to inform consumers. B) The rewards of making informed decisions are not worth the cost of obtaining the needed information. C) State insurance regulators do not provide the needed information. D) Insurance prices are so low that most consumers do not care to be informed.