Which of the following accurately describes Flood Insurance Rate Maps (FIRMs)?

Flood Insurance Rate Maps (FIRMs) serve essential functions in floodplain management and risk assessment. They accurately identify flood zones, which are geographic areas determined by the likelihood of flooding in a given year. By providing a clear delineation of these zones, FIRMs help local governments and agencies understand where flood hazards exist. This is critical for regulating new construction; local building codes are often tied to these flood designations to ensure that structures built in or near flood-prone areas are adequately prepared to withstand potential flooding.

Additionally, FIRMs inform both property owners and local authorities about flood risks, so they can implement appropriate measures for flood mitigation and preparedness. Thus, the function of FIRMs in regulating new constructions and identifying flood hazards makes option C the correct choice. The importance of understanding these maps cannot be overstated as they play a key role in both determining insurance needs and in planning community protections against floods.