Certified Floodplain Manager (CFM) Practice Exam

What is a Write Your Own (WYO) Company?

1. A private insurer selling flood insurance on behalf of NFIP

2. A company writing its own floodplain management laws

3. A self-insured community

4. A public agency involved in flood defense construction

The correct answer is: A private insurer selling flood insurance on behalf of NFIP

A Write Your Own Company (WYO) is a private insurer that partners with the National Flood Insurance Program (NFIP) to manage and sell flood insurance policies. This partnership allows the WYO company to sell and service NFIP policies on behalf of the government, while also taking on some of the risks associated with flood insurance claims. Option B is incorrect because floodplain management laws are typically written by government agencies, not private companies. Option C is incorrect because a self-insured community is a group of individuals or businesses who pool their own funds to cover potential losses, rather than purchasing insurance from a WYO company. Option D is incorrect because a public agency involved in flood defense construction is focused on building and maintaining flood defense systems, rather than selling flood insurance policies.