Which of the Following Statements Concerning the Texas Department of Insurance

question 3

Multiple Choice

Which of the following statements concerning the Texas Department of Insurance is incorrect?

• A) It is a single-member commission.
• B) The department's commissioner is appointed for a two-year term.
• C) The department makes sure that all Texans are covered by health insurance.
• D) It regulates the insurance market in Texas.
• E) The current departmental organization has been in effect since 1993.

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Definitions:

Financial Markets

Places or systems where financial instruments, such as stocks, bonds, and commodities, are traded between investors.

Efficient

The characteristic of being able to accomplish a task or function with the minimum waste of time and effort; effectiveness combined with resourcefulness.

Capital Market History

The historical trends and events involving the trading of securities, affecting the structure and behavior of the capital market.

Bearing Risk

The action or practice of assuming the potential for loss or danger in a financial operation or investment.