Course Test
Question 1
State Disaster Assistance Coordinators are needed to provide what type assistance at FEMA Disaster Recovery Centers?
A. Psychological
B. Financial
C. Tax
D. Moving
Answer
Question 2
Publication ???? is a tri-fold document that contains information on how to get help from the IRS.
A. Publication 2194
B. Publication 1600
C. Publication 17
D. Publication 584
Answer
Question 3
Which of the following is not information needed to support a claim of casualty loss?
A. The type of casualty.
B. The loss was a direct result of the casualty.
C. In what city the property was purchased.
D. That you were the owner of the property.
Answer
Question 4
Individuals may deduct personal property losses that are not covered by insurance or other reimbursements, but they must first subtract…
A. $100
B. $200
C. $300
D. $400
Answer
Question 5
To determine a casualty loss you must first determine the...
A. Depreciated value of the asset lost or damaged.
B. Fair market value of the asset lost or damaged.
C. Value when new of the asset lost or damaged.
D. Replacement value of the asset lost or damaged.
Answer
Question 6
If located in a Federally Declared Disaster Area, you can postpone any “recognized” gain on your main home if you buy a new home within ???? of the end of the year the disaster occurred?
A. One year
B. Two years
C. Three years
D. Four years
Answer
Question 7
You will have a gain if you receive reimbursement in excess of the...
A. Adjusted basis of the damaged or destroyed property.
B. Fair market value of the damaged or destroyed property.
C. The initial cost of the damaged or destroyed property.
D. The current value of the damaged or destroyed property.
Answer
Question 8
Kelly’s Blue Book is a good source of the current fair market value of most vehicles on the road. (True or False)
Answer
Question 9
Generally, which of the following is not a qualified disaster?
A. A disaster that results from a terrorist or military action.
B. A federally declared disaster.
C. A disaster resulting from an accident involving a common carrier.
D. An accident involving a burst city water main.
Answer
Question 10
Post-disaster relief grants received under Disaster Relief and Emergency Assistance Act are not includable in your income if the grant payments are made to help you meet your necessary expenses. (True or False)
Answer
Question 11
Which of the following is a common psychological reaction to a major disaster?
A. Elation or euphoria
B. Normal startle response
C. Calm contentment
D. Fear of being alone
Answer
Question 12
Many of the feelings associated with a disaster can last weeks, months or even years. (True or False)
Answer
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