Chose the Best Answer to Complete the Following Statement: in the United

question 7

Multiple Choice

Chose the best answer to complete the following statement: In the United States, federally regulated lending institutions are required to disclose information to mortgage or other loan applicants whether their property is on a floodplain as shown on the Flood Insurance Rate Map (FIRM) . But the requirement has to be met only _________ days prior to closing.

• A) 5
• B) 10
• C) 15
• D) 20

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Definitions:

Correct Decision

A decision made in statistical hypothesis testing that accurately reflects the true state of the world.

Type I Error

The mistake of rejecting a true null hypothesis or falsely claiming to detect an effect that does not actually exist.

Type II Error

A statistical mistake made by failing to reject a false null hypothesis; not detecting an effect or difference when there actually is one.

Test Impact

Measures the effect or change resulting from the introduction or implementation of a test or assessment.