Which entity administers the National Flood Insurance Program?

The correct answer is FEMA because the Federal Emergency Management Agency is the agency responsible for administering the National Flood Insurance Program (NFIP). FEMA's role involves managing the program, which includes providing flood insurance to property owners, renters, and businesses in participating communities. This is crucial in areas prone to flooding where traditional insurance might be insufficient or unavailable.

FEMA also oversees the mapping of flood zones and works with local communities to promote floodplain management and mitigation strategies. This reflects the agency's larger mission to prepare for and respond to natural disasters, including floods.

The other options, while they have their roles in the insurance and housing sectors, do not specifically govern the NFIP. For instance, the National Insurance Board does not exist in this context, and state insurance departments typically regulate insurance within their states but do not manage federal programs like the NFIP. Similarly, the Department of Housing does not administer flood insurance; its focus is more on housing policies and programs rather than directly handling insurance matters.