If a "100-Year Flood" Has Occurred Then ______________________

question 56

Multiple Choice

If a "100-year flood" has occurred then ______________________.

• A) a similar-sized flood will occur in 100 years time
• B) that flood must be bigger than any other flood during the previous 100-year interval
• C) in any given year a similar flood has a 0.001% chance of occurring
• D) it is still possible for another flood of the same size to come again the following year

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Definitions:

Liability

The condition of having legal accountability, especially regarding debts or legal duties.

Contractually Agreed Upon Fee

A fee that parties have explicitly decided upon within a contract for services or goods.

Damages

Monetary compensation required to be paid as a remedy for a breach of contract or a tortious act.

Sarbanes-Oxley Act

A U.S. federal law established to protect investors by improving the accuracy and reliability of corporate disclosures.