Question 1

It is often quipped that the three most important factors in determining the value of real estate are

Accepted Answer

The phrase "location, location, location" is a well-known adage in the real estate industry and is often cited as the most important factor in determining property value. The location of a property impacts its desirability, convenience, and accessibility. Other factors, such as size and price, may also play a role, but location is generally considered the most significant.

Question 2

In addition to the raw and developed land in private ownership, nearly 85% of the nation's infrastructure is also controlled by the _________ sector.

Accepted Answer

The statement mentions that nearly 85% of the nation's infrastructure is controlled by the private sector, which suggests that private companies own and manage a significant portion of the country's infrastructure. Therefore, the best choice is C, private sector.

Question 3

Which of the following would be considered an indirect impact on a business due to a natural disaster?

Accepted Answer

D

Question 4

The first businesses to reopen in southern Florida following Hurricane Andrew in 1993 were almost exclusively __________________.

Accepted Answer

National fast-food franchises and retail chain outlets were the first to reopen as they had the resources to quickly repair damages and had backup supply chains to restock their inventory. Mom and Pop establishments and nursing homes/pharmacies were often slower to reopen due to lack of resources and significant damages. Factories and farms were also heavily impacted and took longer to reopen as they required more extensive repairs and rebuilding.

Question 5

_______________ is the process of developing arrangements and procedures in advance of a disruption to enable an organization to respond to a disaster so that critical business functions resume within a defined time frame, the amount of loss is minimized, and the stricken facilities are repaired or replaced as soon as possible

Accepted Answer

Contingency planning involves developing plans and procedures to enable an organization to respond to a disaster, minimize loss, resume critical business functions within a defined time frame, and repair or replace affected facilities. Public-Private Partnership refers to cooperation between public and private sectors, Spill Prevention Control and Countermeasures refers to preventing, containing, and cleaning up oil spills, and Emergency Business Planning refers to planning for emergencies that affect business operations.

Question 6

________________ involves strengthening walls to withstand hydrostatic and dynamic forces, including debris impacts.

Accepted Answer

Dry floodproofing involves strengthening walls to withstand hydrostatic and dynamic forces, including debris impacts. Wet floodproofing involves allowing water to enter a building but making sure the interior can be easily cleaned and dried out after a flood event. Commercial floodproofing refers to a set of techniques and measures designed to protect commercial buildings from flood damage.

Question 7

To protect against any number of hazards, vital business information should be stored securely onsite and in a secure _____________.

Accepted Answer

Storing vital business information in an off-site location provides protection against disasters or hazards that may occur at the primary business location. This ensures that the information can still be accessed in the event of a fire, theft, or other disaster at the business location.

Question 8

The three main elements of a business relocation plan include:

Accepted Answer

The three main elements of a business relocation plan are land use planning and site selection, building standards, and temporary business relocation. Land use planning and site selection involve finding a suitable location and ensuring that it meets the business's needs. Building standards include ensuring that the new building meets safety and accessibility standards. Temporary business relocation involves developing a plan for how the business will operate during the transition period. Profitability scale and secondary business location are not necessarily main elements of a business relocation plan, and medical assistance plan is not related to the relocation itself.

Question 9

If a permit for development is issued, the area is free of hazards.

Accepted Answer

A permit for development does not guarantee that an area is free of hazards. It simply means that the proposed development plan meets certain requirements and has been approved by the issuing authority. It is the responsibility of the developer to identify and mitigate any hazards that may exist on the site.

Question 10

In some cases a major disaster can actually boost a local economy.

Accepted Answer

While it may seem counterintuitive, major disasters can lead to an influx of aid and investment in the affected area, creating job opportunities and stimulating economic growth. Reconstruction efforts and the increased demand for goods and services can also contribute to an economic boost. However, this does not negate the devastating impact of the disaster on individuals and communities.

Question 11

Most employers in the United States are small businesses.

Accepted Answer

According to the Small Business Administration, there are approximately 30.2 million small businesses in the United States, which account for 99.9% of all businesses in the country. Therefore, most employers in the U.S. are small businesses.

Question 12

Many companies discover that they are not properly insured only after they have suffered a loss.

Accepted Answer

Many companies realize the importance of proper insurance only after experiencing a loss or damage. It is essential for businesses to regularly review and update their insurance policies to ensure that they are adequately covered.

Question 13

If a business is located in the flood zone of a community that participates in the National Flood Insurance Program (NFIP), the company is not able to purchase a federally-backed flood insurance policy.

Accepted Answer

Businesses located in flood zones of communities that participate in the National Flood Insurance Program (NFIP) are able to purchase federally-backed flood insurance policies. In fact, it is recommended that businesses in flood-prone areas purchase flood insurance to protect against potential property damage and financial loss.

Question 14

Allowing employees time off to take home-protection measures is an example of an effective employee assistance plan.

Accepted Answer

Allowing employees time off to take home-protection measures can help them feel secure and supported by their employer, which can lead to decreased stress and increased productivity. This is an effective type of employee assistance plan.

Question 15

A business impact analysis involves calculating the types of damages and losses that can be expected during any one of the identified hazard events, and relating them to the characteristics of the business itself.

Accepted Answer

A business impact analysis involves assessing the potential impact of various hazards on a business and identifying the critical resources and functions that may be affected. This analysis helps to determine the financial, operational, and reputational consequences of disruptions and enables organizations to prioritize their risk management efforts accordingly.

Question 16

____________ impacts on a business result from the closure of roads and disassembly of transportation networks; loss of utilities, such as water, sewerage, electric power; and disruptions to telecommunications.

Accepted Answer

The answer of ____________ impacts on a business result from...

Question 17

_____________losses are those the business will suffer when one or more of its suppliers are affected by the disaster and cannot deliver the goods or services the business needs

Accepted Answer

The answer of _____________losses are those the business will suffer...

Question 18

In the long-term, the most direct and cost-effective strategy to minimize or prevent damages and losses from natural hazards is to guide development away from _____________ areas when other development locations are available.

Accepted Answer

The answer of In the long-term, the most direct and...

Question 19

_______ __________ are structural mitigation measures that intentionally allow floodwater to enter certain enclosed areas of a building - often used for storage or parking - to reduce the damaging pressures that can collapse walls and foundations.

Accepted Answer

The answer of _______ __________ are structural mitigation measures that...

Question 20

_______ ______________ is a step of the business risk assessment that defines the magnitudes (intensities) and associated probabilities (likelihood) of hazards that may pose threats to the business and community.

Accepted Answer

The answer of _______ ______________ is a step of the...

Quiz 9: Community Resilience and the Private Sector