How should flood hazard information from a mapping service be handled?
Correct Answer
B) Identified by source and effective date of the map
Identify the mapping source, panel or relevant product, and effective date, and check for applicable revisions or letters of map change. Evaluate the hazard information relevant to the property and assignment; owner experience may supplement but does not replace official mapped status. Flood information can affect risk, use, and market behavior, but the existence or size of a value effect requires analysis rather than a universal adjustment.
Why This Is the Correct Answer
Option B is correct because flood information should be identified by its source and the map's effective date. Fannie Mae requires the appraiser to indicate the specific FEMA flood zone and the map number and its effective date. The appraiser should also check for applicable revisions or letters of map change.
Why the Other Options Are Wrong
Option A: Adopted without checking, as maps are authoritative
Option A adopts the map without checking because maps are authoritative. Maps can be revised or changed by letters of map change, so the source and effective date should be identified and checked.
Option C: Ignored, since flood status does not affect value
Option C ignores flood status because it does not affect value. Flood information can affect risk, use and market behavior, so whether it affects value requires analysis rather than dismissal.
Option D: Replaced with the owner's account of past flooding
Option D replaces the map with the owner's account of past flooding. Owner experience may supplement the analysis but does not replace official mapped flood status.
Zone, map number, date
For flood data, record the zone, the map number and the map's effective date so anyone can trace it.
How to use: Use this checklist when a question asks how to report flood hazard information.
Exam Tip
Flood questions reward identifying the source and date of the data; be skeptical of answers claiming flood status never matters.
Common Mistakes to Avoid
- -Accepting a mapping service result without noting its source and date
- -Relying on the owner's flood history instead of official maps
- -Assuming flood zone status has no market effect
Concept Deep Dive
Analysis
This question tests proper handling of flood hazard data from a mapping service. The appraiser should identify the source and effective date of the map so the information can be traced and checked for revisions. Flood information can affect value, but owner accounts do not replace official mapped status.
Background Knowledge
FEMA flood maps designate flood zones that influence insurance requirements and market perception. Maps are revised over time, and individual properties may receive letters of map change. Appraisers report the zone, map number and effective date and analyze any market effect.
Real-World Application
A mapping service shows a home in a special flood hazard area, but the owner says a letter of map change removed it. The appraiser checks the FEMA records, confirms the letter, and reports the map number, effective date and the change.
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