Question

All of the following are true EXCEPT:

A. The Insurance Commissioner is elected by the people to serve an 8-year term.
B. The California Code of Regulations (CCR) is made up of rules issued by the commissioner
C. The California Insurance Code (CIC) consists of statutes written and passed by the state legislature
D. An insurance professional should have knowledge of the California Insurance Code and the Code of Regulations

Answer 1

The correct answer is A. The Insurance Commissioner is elected by the people to serve an 8-year term.

Step-by-step explanation:

The correct answer is A. The Insurance Commissioner is elected by the people to serve an 8-year term.

The Insurance Commissioner, who oversees the regulation of the insurance industry, is not elected by the people. Instead, the Insurance Commissioner is appointed by the state governor or chosen by a regulatory board.

In California, for example, the Insurance Commissioner is appointed by the governor. They serve a four-year term, rather than an eight-year term as mentioned in option A. The other options are true statements about the regulation of insurance in California.