State RegulationsFL specificDifficulty 1/5
Who is the head of the Florida Department of Financial Services?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
The Chief Financial Officer (CFO) heads the Florida Department of Financial Services (DFS). The CFO is a statewide elected Cabinet official who, through DFS, oversees insurance agent licensing and discipline, consumer services, insurance fraud investigations, receivership of insolvent insurers, and the state's unclaimed property program.
Why the other options are wrong
- B) The Commissioner of the Office of Insurance Regulation regulates insurers, their rates and policy forms; that office is separate from the Department of Financial Services.
- C) The Governor leads the executive branch but is not the head of the Department of Financial Services; that role belongs to the elected Chief Financial Officer.
- D) There is no Secretary of the Financial Services Commission; the Commission is the Governor and Cabinet acting together, not an individual agency head.
Memory hook
The CFO runs the DFS.